Carrabassett Valley Academy

Analysis

Carrabassett Valley Academy is a registered charity in United States, based in Carabaset Vly, ME. It received its IRS tax-exemption ruling in June 1983, 43 years ago. Its declared purposes cover education, which this site groups under education and training. The IRS classifies it as a school under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending June 2023, Carrabassett Valley Academy reported income of $6.8m and spending of $5.6m, spending 83% of its income. Across the 5 years on record, from June 2019 to June 2023, income grew from $3.8m to $6.8m (+80%), an average of +16% a year. The sharpest change came in the year to June 2022, when income rose by 49%. Over the whole period it spent 92% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Carrabassett Valley Academy sits at the 91st percentile: it is larger than about 91% of them. Against every charity in United States with reported income it ranks in the 94th percentile, and in the 93rd percentile within ME. Charities of a similar size with the same main cause include Helios New School Inc ($6.8m), Lead Charter School Inc ($6.8m) and Riekes Center for Human Enhancement ($6.8m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 23% and program service revenue 76% of the total. Compensation of current officers, directors and key employees was $270k (4.8% of expenses). Other salaries and wages came to $2.6m. At year end it held assets of $13.6m against liabilities of $1.5m, net assets of $12.1m. It reported 168 employees.