Richard Milburn Academy of Florida Inc

Analysis

Richard Milburn Academy of Florida Inc is a registered charity in United States, based in Daytona Beach, FL. It received its IRS tax-exemption ruling in May 2012, 14 years ago. Its declared purposes cover education, which this site groups under education and training. 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, Richard Milburn Academy of Florida Inc reported income of $5.5m and spending of $5.0m, spending 90% of its income. Across the 5 years on record, from June 2019 to June 2023, income grew from $2.4m to $5.5m (+130%), an average of +23% a year. The sharpest change came in the year to June 2022, when income rose by 47%. Over the whole period it spent 90% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Richard Milburn Academy of Florida 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 93rd percentile, and in the 94th percentile within FL. Charities of a similar size with the same main cause include Metrolina Regional Scholars Academy Inc ($5.5m), Madison Area Technical College Foundation Inc ($5.5m) and Brooklyn Emerging Leaders Academy Charter School ($5.5m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 13% and program service revenue 87% of the total. Other salaries and wages came to $2.9m. At year end it held assets of $3.0m against liabilities of $610k, net assets of $2.4m. It reported 68 employees.