James F Farr Academy Inc

Analysis

James F Farr Academy Inc is a registered charity in United States, based in Cambridge, MA. It received its IRS tax-exemption ruling in November 1972, 54 years ago. The IRS classifies it as a publicly supported organisation (donations from the general public) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending June 2023, James F Farr Academy Inc reported income of $3.7m and spending of $3.2m, spending 86% of its income. Across the 5 years on record, from June 2019 to June 2023, income fell from $6.7m to $3.7m (-44%), an average of -14% a year. The sharpest change came in the year to June 2023, when income dropped by 43%. Over the whole period it spent 94% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, James F Farr Academy Inc sits at the 90th percentile: it is larger than about 90% of them. Against every charity in United States with reported income it ranks in the 90th percentile, and in the 89th percentile within MA. Charities of a similar size with the same main cause include East Hampton Library ($3.7m), Worthington Christian Village Inc ($3.7m) and North East Community Center Inc ($3.7m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 11% and program service revenue 61% of the total. Compensation of current officers, directors and key employees was $337k (11% of expenses). Other salaries and wages came to $1.3m. At year end it held assets of $7.3m against liabilities of $4.5m, net assets of $2.8m. It reported 80 employees.