Ridgefield Academy Inc

Analysis

Ridgefield Academy Inc is a registered charity in United States, based in Ridgefield, CT. It received its IRS tax-exemption ruling in August 1998, 28 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, Ridgefield Academy Inc reported income of $19.6m and spending of $16.8m, spending 86% of its income. Across the 5 years on record, from June 2019 to June 2023, income grew from $14.3m to $19.6m (+37%), an average of +8.2% a year. The sharpest change came in the year to June 2022, when income rose by 26%. Over the whole period it spent 98% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Ridgefield Academy Inc 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 CT. Charities of a similar size with the same main cause include Significant Educators ($19.6m), Cal State East Bay Educational Foundation ($19.7m) and Middle Tennessee Christian School ($19.6m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 14% and program service revenue 85% of the total. Compensation of current officers, directors and key employees was $754k (4.5% of expenses). Other salaries and wages came to $7.2m. At year end it held assets of $37.8m against liabilities of $23.4m, net assets of $14.5m. It reported 228 employees.