St Thomas More Academy Inc

Analysis

St Thomas More Academy Inc is a registered charity in United States, based in Raleigh, NC. It received its IRS tax-exemption ruling in April 2004, 22 years ago. 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, St Thomas More Academy Inc reported income of $1.8m and spending of $2.6m, spending 140% of what it took in. Across the 5 years on record, from June 2019 to June 2023, income fell from $2.9m to $1.8m (-37%), an average of -11% a year. The sharpest change came in the year to June 2020, when income rose by 60%. Over the whole period it spent 73% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, St Thomas More Academy Inc sits at the 84th percentile: it is larger than about 84% of them. Against every charity in United States with reported income it ranks in the 85th percentile, and in the 86th percentile within NC. Charities of a similar size with the same main cause include Providence Foundation ($1.8m), Humane Society of St Joseph County Indiana Inc ($1.8m) and Washington State Council on Problem Gambling a Non Profit Organization ($1.8m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 29% and program service revenue 82% of the total. Compensation of current officers, directors and key employees was $111k (4.3% of expenses). Other salaries and wages came to $1.1m. At year end it held assets of $7.0m against liabilities of $100k, net assets of $6.9m. It reported 39 employees.