Cheshire Academy

Analysis

Cheshire Academy is a registered charity in United States, based in Cheshire, CT. It received its IRS tax-exemption ruling in February 1939, 87 years ago. 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 2024, Cheshire Academy reported income of $22.3m and spending of $23.5m, spending 105% of what it took in. Across the 6 years on record, from June 2019 to June 2024, income fell from $24.3m to $22.3m (-8.3%), an average of -1.7% a year. The sharpest change came in the year to June 2022, when income dropped by 18%. Over the whole period it spent 99% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Cheshire Academy sits at the 98th percentile: it is larger than about 98% of them. Against every charity in United States with reported income it ranks in the 97th percentile, and in the 97th percentile within CT. Charities of a similar size with the same main cause include Jerome Home ($22.3m), Rainbow of Challenges Inc ($22.3m) and Greenwich House Inc ($22.3m).

On its Form 990 for the period ending June 2024, revenue came from contributions and grants 7.5% and program service revenue 84% of the total. Compensation of current officers, directors and key employees was $694k (3.0% of expenses). Other salaries and wages came to $7.9m. At year end it held assets of $48.8m against liabilities of $10.9m, net assets of $37.9m. It reported 167 employees.

Data notes from the register: Spending has exceeded income in each of the last three reported years, so the charity has been drawing on reserves or other funds.