Richard Milburn Academy Texas Inc

Analysis

Richard Milburn Academy Texas Inc is a registered charity in United States, based in New Braunfels, TX. It received its IRS tax-exemption ruling in January 2003, 23 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 2023, Richard Milburn Academy Texas Inc reported income of $17.8m and spending of $16.5m, spending 93% of its income. Across the 5 years on record, from June 2019 to June 2023, income fell from $18.8m to $17.8m (-5.5%), an average of -1.4% a year. The sharpest change came in the year to June 2022, when income rose by 16%. Over the whole period it spent 91% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Richard Milburn Academy Texas Inc sits at the 97th percentile: it is larger than about 97% of them. Against every charity in United States with reported income it ranks in the 97th percentile, and in the 98th percentile within TX. Charities of a similar size with the same main cause include Western Maryland Health Care Corporation ($17.8m), Chapel Hill-Chauncy Hall School ($17.8m) and Indianapolis Center for Congregations Inc ($17.8m).

On its Form 990 for the period ending June 2023, revenue came from program service revenue 100% of the total. Compensation of current officers, directors and key employees was $148k (0.9% of expenses). Other salaries and wages came to $8.1m. At year end it held assets of $23.8m against liabilities of $8.9m, net assets of $15.0m. It reported 302 employees.