Masters Academy of Vero Beach Inc

Analysis

Masters Academy of Vero Beach Inc is a registered charity in United States, based in Vero Beach, FL. It received its IRS tax-exemption ruling in December 2004, 22 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, Masters Academy of Vero Beach Inc reported income of $3.3m and spending of $2.6m, leaving 22% of income unspent that year. Across the 5 years on record, from June 2019 to June 2023, income grew from $2.4m to $3.3m (+35%), an average of +7.9% a year. The sharpest change came in the year to June 2022, when income rose by 27%. Over the whole period it spent 88% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Masters Academy of Vero Beach Inc sits at the 86th percentile: it is larger than about 86% of them. Against every charity in United States with reported income it ranks in the 90th percentile, and in the 91st percentile within FL. Charities of a similar size with the same main cause include Western Research Institute ($3.3m), International Language Programs Inc ($3.3m) and Southern Florida Instructional Television Inc ($3.3m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 2.7% and program service revenue 74% of the total. Other salaries and wages came to $1.6m. At year end it held assets of $2.2m against liabilities of $154k, net assets of $2.1m. It reported 66 employees.