New Classical Academy Incorporated

Analysis

New Classical Academy Incorporated is a registered charity in United States, based in Asheville, NC. It received its IRS tax-exemption ruling in September 2006, 20 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 2023, New Classical Academy Incorporated reported income of $705k and spending of $684k, spending 97% of its income. Across the 5 years on record, from June 2019 to June 2023, income grew from $449k to $705k (+57%), an average of +12% a year. The sharpest change came in the year to June 2021, when income rose by 19%. Over the whole period it spent 95% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, New Classical Academy Incorporated sits at the 72nd percentile: it is larger than about 72% of them. Against every charity in United States with reported income it ranks in the 75th percentile, and in the 75th percentile within NC. Charities of a similar size with the same main cause include Chestnut Hill Academy Parents and Teachers Ensuring Results ($705k), Indigokid Club Inc ($705k) and Southern California Eye Institute ($705k).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 1.9% and program service revenue 98% of the total. Compensation of current officers, directors and key employees was $76k (11% of expenses). Other salaries and wages came to $402k. At year end it held assets of $1.0m against liabilities of $858k, net assets of $180k. It reported 13 employees.