Hope Academy of Milford Inc

Analysis

Hope Academy of Milford Inc is a registered charity in United States, based in Orange, CT. It received its IRS tax-exemption ruling in September 2001, 25 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 December 2023, Hope Academy of Milford Inc reported income of $7.1m and spending of $7.1m, spending 101% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $6.1m to $7.1m (+16%), an average of +3.7% a year. The sharpest change came in the year to December 2021, when income rose by 39%. Over the whole period it spent 102% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Hope Academy of Milford Inc sits at the 91st percentile: it is larger than about 91% of them. Against every charity in United States with reported income it ranks in the 94th percentile, and in the 92nd percentile within CT. Charities of a similar size with the same main cause include Elevate School ($7.1m), Country School Incorporated ($7.1m) and Orange County Classical Academy ($7.1m).

On its Form 990 for the period ending December 2023, revenue came from program service revenue 100% of the total. Compensation of current officers, directors and key employees was $708k (9.9% of expenses). Other salaries and wages came to $3.5m. At year end it held assets of $2.9m against liabilities of $16k, net assets of $2.9m. It reported 56 employees.