Farmington Academy Inc

Analysis

Farmington Academy Inc is a registered charity in United States, based in Avon, CT. It received its IRS tax-exemption ruling in July 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 June 2024, Farmington Academy Inc reported income of $2.0m and spending of $2.2m, spending 106% of what it took in. Across the 5 years on record, from June 2020 to June 2024, income grew from $1.6m to $2.0m (+25%), an average of +5.7% a year. Over the whole period it spent 99% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Farmington 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 84th percentile within CT. Charities of a similar size with the same main cause include John Winthrop Nursery School Corporation ($2.0m), Northwest Association of Independent Schools ($2.0m) and Tustin Public School Foundation ($2.0m).

On its Form 990 for the period ending June 2024, revenue came from contributions and grants 3.3% and program service revenue 94% of the total. Compensation of current officers, directors and key employees was $212k (9.8% of expenses). Other salaries and wages came to $739k. At year end it held assets of $3.8m against liabilities of $3.2m, net assets of $598k. It reported 40 employees.