Washburn Academy Inc

Analysis

Washburn Academy Inc is a registered charity in United States, based in Clearwater, FL. It received its IRS tax-exemption ruling in December 2005, 21 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, Washburn Academy Inc reported income of $1.9m and spending of $1.7m, spending 88% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $1.2m to $1.9m (+59%), an average of +12% a year. The sharpest change came in the year to December 2021, when income rose by 28%. Over the whole period it spent 93% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Washburn Academy Inc sits at the 82nd percentile: it is larger than about 82% of them. Against every charity in United States with reported income it ranks in the 86th percentile, and in the 87th percentile within FL. Charities of a similar size with the same main cause include Peace Academy ($1.9m), University of Wisconsin-Superior Alumni and Friends Foundation Inc ($1.9m) and Montessori Childrens School of Key West Inc ($1.9m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 6.9% and program service revenue 93% of the total. Other salaries and wages came to $529k. It paid $15k in professional fundraising fees. At year end it held assets of $1.2m against liabilities of $184k, net assets of $1.0m. It reported 30 employees.