Hyde School

Analysis

Hyde School is a registered charity in United States, based in Bath, ME. It received its IRS tax-exemption ruling in April 1966, 60 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, Hyde School reported income of $10.8m and spending of $11.9m, spending 110% of what it took in. Across the 5 years on record, from June 2019 to June 2023, income fell from $12.0m to $10.8m (-10%), an average of -2.7% a year. The sharpest change came in the year to June 2023, when income rose by 24%. Over the whole period it spent 112% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Hyde School sits at the 94th percentile: it is larger than about 94% of them. Against every charity in United States with reported income it ranks in the 95th percentile, and in the 95th percentile within ME. Charities of a similar size with the same main cause include Ascte Foundation ($10.8m), Kummer Institute Foundation ($10.8m) and Global Service Network Inc ($10.8m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 27% and program service revenue 58% of the total. Compensation of current officers, directors and key employees was $721k (6.1% of expenses). Other salaries and wages came to $3.0m. At year end it held assets of $39.9m against liabilities of $2.4m, net assets of $37.4m. It reported 70 employees.

Data notes from the register: Spending has exceeded income in each of the last three reported years, so the charity has been drawing on reserves or other funds.