New Orleans Military and Maritime Academy Inc

Analysis

New Orleans Military and Maritime Academy Inc is a registered charity in United States, based in New Orleans, LA. It received its IRS tax-exemption ruling in June 2010, 16 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 June 2023, New Orleans Military and Maritime Academy Inc reported income of $16.3m and spending of $15.3m, spending 94% of its income. Across the 5 years on record, from June 2019 to June 2023, income grew from $11.6m to $16.3m (+41%), an average of +8.9% a year. The sharpest change came in the year to June 2021, when income rose by 25%. Over the whole period it spent 92% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, New Orleans Military and Maritime Academy Inc 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 97th percentile, and in the 97th percentile within LA. Charities of a similar size with the same main cause include Brazos Higher Education Service Corporation Inc ($16.3m), Linwood Center Inc ($16.3m) and Lighthouse Academies of Arkansas Inc ($16.3m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 95% and program service revenue 1.2% of the total. Compensation of current officers, directors and key employees was $526k (3.4% of expenses). Other salaries and wages came to $7.5m. At year end it held assets of $25.3m against liabilities of $11.7m, net assets of $13.6m. It reported 161 employees.