Taft School Corporation

Analysis

Taft School Corporation is a registered charity in United States, based in Watertown, CT. It received its IRS tax-exemption ruling in November 1990, 36 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, Taft School Corporation reported income of $72.7m and spending of $63.9m, spending 88% of its income. Across the 5 years on record, from June 2019 to June 2023, income grew from $59.2m to $72.7m (+23%), an average of +5.2% a year. The sharpest change came in the year to June 2022, when income rose by 24%. Over the whole period it spent 82% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Taft School Corporation sits at the 99th percentile: it is larger than about 99% of them. Against every charity in United States with reported income it ranks in the 99th percentile, and in the 99th percentile within CT. Charities of a similar size with the same main cause include Ave Maria University Inc ($72.6m), Southwestern Medical Foundation ($72.8m) and Northstar Education Finance Inc ($72.6m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 33% and program service revenue 57% of the total. Compensation of current officers, directors and key employees was $1.8m (2.7% of expenses). Other salaries and wages came to $18.7m. It paid $64k in professional fundraising fees. At year end it held assets of $466.8m against liabilities of $64.7m, net assets of $402.1m. It reported 369 employees.