Anchor Academy Inc

Analysis

Anchor Academy Inc is a registered charity in United States, based in Norwalk, CT. It received its IRS tax-exemption ruling in November 2007, 19 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, Anchor Academy Inc reported income of $1.1m and spending of $1.1m, spending 98% of its income. Across the 6 years on record, from June 2019 to June 2024, income grew from $487k to $1.1m (+129%), an average of +18% a year. The sharpest change came in the year to June 2023, when income rose by 57%. 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, Anchor Academy Inc sits at the 77th percentile: it is larger than about 77% of them. Against every charity in United States with reported income it ranks in the 80th percentile, and in the 79th percentile within CT. Charities of a similar size with the same main cause include Belvedere Nursery School Inc ($1.1m), Urban Mennonite Ministries Incorporated ($1.1m) and Black Teacher Collaborative Incorporated ($1.1m).

On its Form 990 for the period ending June 2024, revenue came from contributions and grants 12% and program service revenue 67% of the total. Other salaries and wages came to $703k. At year end it held assets of $456k against liabilities of $79k, net assets of $377k. It reported 19 employees.