Tower School in Marblehead Inc

Analysis

Tower School in Marblehead Inc is a registered charity in United States, based in Marblehead, MA. It received its IRS tax-exemption ruling in September 1938, 88 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, Tower School in Marblehead Inc reported income of $9.9m and spending of $10.0m, spending 101% of its income. Across the 5 years on record, from June 2019 to June 2023, income fell from $10.2m to $9.9m (-3.0%), an average of -0.8% a year. Over the whole period it spent 97% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Tower School in Marblehead Inc sits at the 93rd percentile: it is larger than about 93% of them. Against every charity in United States with reported income it ranks in the 95th percentile, and in the 94th percentile within MA. Charities of a similar size with the same main cause include Ada Christian School Society ($9.9m), Universal Alcorn Charter School Inc ($9.9m) and Greater Brunswick Regional Charter School ($9.9m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 2.8% and program service revenue 93% of the total. Compensation of current officers, directors and key employees was $438k (4.4% of expenses). Other salaries and wages came to $3.8m. At year end it held assets of $20.4m against liabilities of $12.1m, net assets of $8.3m. It reported 79 employees.