Nova Classical Academy

Analysis

Nova Classical Academy is a registered charity in United States, based in Saint Paul, MN. It received its IRS tax-exemption ruling in June 2002, 24 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, Nova Classical Academy reported income of $14.5m and spending of $11.4m, leaving 22% of income unspent that year. Across the 5 years on record, from June 2019 to June 2023, income grew from $11.3m to $14.5m (+28%), an average of +6.4% a year. The sharpest change came in the year to June 2023, when income rose by 20%. 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, Nova Classical Academy sits at the 95th percentile: it is larger than about 95% of them. Against every charity in United States with reported income it ranks in the 96th percentile, and in the 96th percentile within MN. Charities of a similar size with the same main cause include Every Car Can ($14.5m), Institute for Quality Education Inc ($14.5m) and Bricolage Academy ($14.5m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 95% and program service revenue 4.4% of the total. Compensation of current officers, directors and key employees was $335k (3.0% of expenses). Other salaries and wages came to $6.1m. At year end it held assets of $11.0m against liabilities of $10.4m, net assets of $582k. It reported 121 employees.