First State Montessori Academy Inc

Analysis

First State Montessori Academy Inc is a registered charity in United States, based in Wilmington, DE. It received its IRS tax-exemption ruling in January 2014, 12 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, First State Montessori Academy Inc reported income of $10.2m and spending of $11.1m, spending 108% of what it took in. Across the 5 years on record, from June 2019 to June 2023, income grew from $7.9m to $10.2m (+30%), an average of +6.8% a year. The sharpest change came in the year to June 2020, when income rose by 22%. Over the whole period it spent 113% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, First State Montessori Academy Inc sits at the 93rd percentile: it is larger than about 93% of them. Against every charity in United States with reported income it ranks in the 95th percentile, and in the 96th percentile within DE. Charities of a similar size with the same main cause include Virginia Commonwealth University Real Estate Foundation ($10.2m), Redwood Christian Schools ($10.3m) and Buffalo United Charter School ($10.2m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 98% and program service revenue 1.7% of the total. Compensation of current officers, directors and key employees was $275k (2.5% of expenses). Other salaries and wages came to $4.4m. At year end it held assets of $26.6m against liabilities of $38.1m, net assets of -$11.5m.

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.