Albany Academy

Analysis

Albany Academy is a registered charity in United States, based in Albany, NY. It received its IRS tax-exemption ruling in July 1945, 81 years ago. The IRS classifies it as a governmental unit under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending June 2023, Albany Academy reported income of $19.9m and spending of $22.3m, spending 112% of what it took in. Across the 5 years on record, from June 2019 to June 2023, income fell from $20.7m to $19.9m (-3.9%), an average of -1.0% a year. The sharpest change came in the year to June 2022, when income dropped by 22%. Over the whole period it spent 93% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Albany 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 97th percentile, and in the 96th percentile within NY. Charities of a similar size with the same main cause include Federal Defender Program Inc ($19.9m), Mooseheart Child City & School Inc ($19.9m) and Castle Ridge Care Center ($19.9m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 12% and program service revenue 85% of the total. Compensation of current officers, directors and key employees was $622k (2.8% of expenses). Other salaries and wages came to $9.4m. At year end it held assets of $53.7m against liabilities of $9.0m, net assets of $44.7m. It reported 324 employees.