The Lewis Chatman Academy

Analysis

The Lewis Chatman Academy is a registered charity in United States, based in Paterson, NJ. It received its IRS tax-exemption ruling in November 2019, 7 years ago. Its declared purposes cover education, which this site groups under education and training. The IRS classifies it as a publicly supported organisation (donations from the general public) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, The Lewis Chatman Academy reported income of $2.0m and spending of $1.9m, spending 92% of its income. Across the 6 years on record, from December 2018 to December 2023, income grew from $1.7m to $2.0m (+17%), an average of +3.2% a year. The sharpest change came in the year to December 2023, when income rose by 20%. Over the whole period it spent 91% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, The Lewis Chatman Academy sits at the 82nd percentile: it is larger than about 82% of them. Against every charity in United States with reported income it ranks in the 86th percentile, and in the 88th percentile within NJ. Charities of a similar size with the same main cause include Danville Library Inc ($2.0m), Northern Lights Community School ($2.0m) and Cumorah Academy ($2.0m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 57% and program service revenue 43% of the total. Compensation of current officers, directors and key employees was $278k (15% of expenses). Other salaries and wages came to $422k. At year end it held assets of $794k against liabilities of $368k, net assets of $426k. It reported 20 employees.