Pitt Academy

Analysis

Pitt Academy is a registered charity in United States, based in Louisville, KY. It received its IRS tax-exemption ruling in December 1972, 54 years ago. The IRS classifies it as a publicly supported organisation (gross receipts test) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending June 2023, Pitt Academy reported income of $1.4m and spending of $1.4m, spending 104% of its income. Across the 4 years on record, from June 2020 to June 2023, income grew from $1.1m to $1.4m (+32%), an average of +9.7% a year. The sharpest change came in the year to June 2021, when income rose by 19%. Over the whole period it spent 109% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Pitt Academy sits at the 81st percentile: it is larger than about 81% of them. Against every charity in United States with reported income it ranks in the 83rd percentile, and in the 83rd percentile within KY. Charities of a similar size with the same main cause include Northwoods Battered Womens Shelter Inc ($1.4m), Wisteria View Housing Corporation ($1.4m) and South Suburban Special Recreation Association ($1.4m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 9.0% and program service revenue 86% of the total. Compensation of current officers, directors and key employees was $92k (6.4% of expenses). Other salaries and wages came to $807k. At year end it held assets of $2.2m against liabilities of $65k, net assets of $2.1m. It reported 23 employees.