Sumner Academy Inc Nichols Lane

Analysis

Sumner Academy Inc Nichols Lane is a registered charity in United States, based in Gallatin, TN. It received its IRS tax-exemption ruling in April 1973, 53 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, Sumner Academy Inc Nichols Lane reported income of $2.9m and spending of $2.8m, spending 96% of its income. Across the 5 years on record, from June 2019 to June 2023, income grew from $2.0m to $2.9m (+45%), an average of +9.8% a year. The sharpest change came in the year to June 2023, when income rose by 17%. Over the whole period it spent 98% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Sumner Academy Inc Nichols Lane sits at the 85th percentile: it is larger than about 85% of them. Against every charity in United States with reported income it ranks in the 89th percentile, and in the 90th percentile within TN. Charities of a similar size with the same main cause include Crispus Attucks Charter School ($2.9m), Faculty Student Association of Jefferson Community College Inc ($2.9m) and Etgar ($2.9m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 20% and program service revenue 78% of the total. Compensation of current officers, directors and key employees was $186k (6.7% of expenses). Other salaries and wages came to $1.1m. It paid $22k in professional fundraising fees. At year end it held assets of $2.6m against liabilities of $2.0m, net assets of $569k. It reported 51 employees.