Concord Academy

Analysis

Concord Academy is a registered charity in United States, based in Concord, MA. It received its IRS tax-exemption ruling in June 1937, 89 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, Concord Academy reported income of $37.6m and spending of $35.6m, spending 95% of its income. Across the 5 years on record, from June 2019 to June 2023, income grew from $31.5m to $37.6m (+19%), an average of +4.5% a year. The sharpest change came in the year to June 2021, when income rose by 69%. Over the whole period it spent 83% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Concord Academy sits at the 98th percentile: it is larger than about 98% of them. Against every charity in United States with reported income it ranks in the 98th percentile, and in the 98th percentile within MA. Charities of a similar size with the same main cause include Trinity International University ($37.5m), Commit2dallas ($37.6m) and Lehigh Valley Academy Charter School ($37.5m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 28% and program service revenue 68% of the total. Compensation of current officers, directors and key employees was $1.7m (4.8% of expenses). Other salaries and wages came to $12.4m. At year end it held assets of $177.5m against liabilities of $24.8m, net assets of $152.7m. It reported 372 employees.