Palm Harbor Academy Inc

Analysis

Palm Harbor Academy Inc is a registered charity in United States, based in Palm Coast, FL. It received its IRS tax-exemption ruling in July 2013, 13 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, Palm Harbor Academy Inc reported income of $631k and spending of $647k, spending 103% of its income. Across the 5 years on record, from June 2019 to June 2023, income grew from $567k to $631k (+11%), an average of +2.7% a year. The sharpest change came in the year to June 2022, when income rose by 27%. Over the whole period it spent 111% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Palm Harbor Academy Inc sits at the 71st percentile: it is larger than about 71% of them. Against every charity in United States with reported income it ranks in the 74th percentile, and in the 76th percentile within FL. Charities of a similar size with the same main cause include Heritage Grocers Giving Foundation ($631k), Sunshine Cottage Land Corporation ($631k) and Opportunities Inc ($631k).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 31% and program service revenue 69% of the total. Other salaries and wages came to $239k. At year end it held assets of $433k against liabilities of $689k, net assets of -$256k. It reported 17 employees.

Data notes from the register: Spending has exceeded income in each of the last three reported years, so the charity has been drawing on reserves or other funds.