Montclair Kimberly Academy Foundation

Analysis

Montclair Kimberly Academy Foundation is a registered charity in United States, based in Montclair, NJ. It received its IRS tax-exemption ruling in September 1974, 52 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, Montclair Kimberly Academy Foundation reported income of $53.5m and spending of $49.1m, spending 92% of its income. Across the 5 years on record, from June 2019 to June 2023, income grew from $44.4m to $53.5m (+20%), an average of +4.8% a year. Over the whole period it spent 89% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Montclair Kimberly Academy Foundation sits at the 98th percentile: it is larger than about 98% of them. Against every charity in United States with reported income it ranks in the 99th percentile, and in the 99th percentile within NJ. Charities of a similar size with the same main cause include Polytechnic School ($53.4m), West Virginia Wesleyan College ($53.5m) and Magnolia Properties Management Inc ($53.4m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 6.5% and program service revenue 90% of the total. Compensation of current officers, directors and key employees was $782k (1.6% of expenses). Other salaries and wages came to $21.1m. At year end it held assets of $92.3m against liabilities of $9.6m, net assets of $82.7m. It reported 455 employees.