Maritime Academy Charter School

Analysis

Maritime Academy Charter School is a registered charity in United States, based in Philadelphia, PA. It received its IRS tax-exemption ruling in June 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, Maritime Academy Charter School reported income of $18.6m and spending of $16.8m, spending 90% of its income. Across the 5 years on record, from June 2019 to June 2023, income grew from $12.0m to $18.6m (+56%), an average of +12% a year. The sharpest change came in the year to June 2022, when income rose by 23%. Over the whole period it spent 84% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Maritime Academy Charter School sits at the 96th percentile: it is larger than about 96% of them. Against every charity in United States with reported income it ranks in the 97th percentile, and in the 96th percentile within PA. Charities of a similar size with the same main cause include East Carolina University Foundation Inc ($18.6m), Milton Gottesman Jewish Day School of the Nations Capital ($18.6m) and Archival Foundation ($18.6m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 36% and program service revenue 61% of the total. Compensation of current officers, directors and key employees was $175k (1.0% of expenses). Other salaries and wages came to $7.3m. At year end it held assets of $17.9m against liabilities of $13.6m, net assets of $4.3m. It reported 167 employees.