Norwich Free Academy

Analysis

Norwich Free Academy is a registered charity in United States, based in Norwich, CT. It received its IRS tax-exemption ruling in July 1934, 92 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, Norwich Free Academy reported income of $46.8m and spending of $43.4m, spending 93% of its income. Across the 4 years on record, from June 2020 to June 2023, income grew from $37.5m to $46.8m (+25%), an average of +7.6% a year. Over the whole period it spent 93% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Norwich Free 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 99th percentile, and in the 99th percentile within CT. Charities of a similar size with the same main cause include Fort Worth Country Day School Inc ($46.8m), American Friends of Rabbinical College of Telzstone Inc ($46.8m) and Anderson Center for Autism ($46.7m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 26% and program service revenue 72% of the total. Compensation of current officers, directors and key employees was $581k (1.3% of expenses). Other salaries and wages came to $23.7m. At year end it held assets of $47.1m against liabilities of $6.9m, net assets of $40.3m. It reported 492 employees.