Friends Academy

Analysis

Friends Academy is a registered charity in United States, based in Locust Valley, NY. It received its IRS tax-exemption ruling in June 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 2024, Friends Academy reported income of $35.6m and spending of $38.0m, spending 107% of what it took in. Across the 6 years on record, from June 2019 to June 2024, income grew from $32.0m to $35.6m (+11%), an average of +2.2% a year. Over the whole period it spent 106% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Friends 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 98th percentile, and in the 97th percentile within NY. Charities of a similar size with the same main cause include Holos Inc ($35.6m), Valor Christian Schools ($35.6m) and John Burroughs School ($35.6m).

On its Form 990 for the period ending June 2024, revenue came from contributions and grants 9.4% and program service revenue 84% of the total. Compensation of current officers, directors and key employees was $1.1m (3.0% of expenses). Other salaries and wages came to $16.7m. At year end it held assets of $116.9m against liabilities of $18.2m, net assets of $98.7m. It reported 331 employees.