Adept Educational Institute Inc

Analysis

Adept Educational Institute Inc is a registered charity in United States, based in Worcester, MA. It received its IRS tax-exemption ruling in December 1986, 40 years ago. The IRS classifies it as a publicly supported organisation (gross receipts test) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending June 2023, Adept Educational Institute Inc reported income of $8.0m and spending of $7.9m, spending 99% of its income. Across the 5 years on record, from June 2019 to June 2023, income grew from $5.9m to $8.0m (+35%), an average of +7.8% a year. The sharpest change came in the year to June 2022, when income rose by 33%. Over the whole period it spent 98% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Adept Educational Institute Inc 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 94th percentile, and in the 93rd percentile within MA. Charities of a similar size with the same main cause include Durham-Chapel Hill Jewish Federation ($8.0m), Ruth Jensen Village Residential Services Inc ($8.0m) and Young Womens Christian Association New Britain ($8.0m).

On its Form 990 for the period ending June 2023, revenue came from program service revenue 100% of the total. Compensation of current officers, directors and key employees was $189k (2.4% of expenses). Other salaries and wages came to $976k. At year end it held assets of $4.1m against liabilities of $2.3m, net assets of $1.8m. It reported 16 employees.