Classical Academy Incorporated

Analysis

Classical Academy Incorporated is a registered charity in United States, based in Escondido, CA. It received its IRS tax-exemption ruling in January 2000, 26 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, Classical Academy Incorporated reported income of $74.8m and spending of $70.1m, spending 94% of its income. Across the 5 years on record, from June 2019 to June 2023, income grew from $31.3m to $74.8m (+139%), an average of +24% a year. The sharpest change came in the year to June 2023, when income rose by 80%. Over the whole period it spent 95% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Classical Academy Incorporated sits at the 99th percentile: it is larger than about 99% of them. Against every charity in United States with reported income it ranks in the 99th percentile, and in the 99th percentile within CA. Charities of a similar size with the same main cause include Advantage Academy of Hillsborough Inc ($74.6m), Early Learning Coalition of Pasco and Hernando Counties Inc ($74.8m) and Excelsior University ($74.4m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 99% of the total. Compensation of current officers, directors and key employees was $1.6m (2.2% of expenses). Other salaries and wages came to $33.0m. At year end it held assets of $151.7m against liabilities of $125.0m, net assets of $26.7m. It reported 838 employees.