Midwest Academy Inc

Analysis

Midwest Academy Inc is a registered charity in United States, based in Carmel, IN. It received its IRS tax-exemption ruling in December 1994, 32 years ago. Its declared purposes cover unknown, which this site groups under other charitable purposes. 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, Midwest Academy Inc reported income of $2.2m and spending of $2.4m, spending 108% of what it took in. Across the 5 years on record, from June 2019 to June 2023, income grew from $2.0m to $2.2m (+7.9%), an average of +1.9% a year. The sharpest change came in the year to June 2021, when income rose by 17%. Over the whole period it spent 94% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Midwest Academy Inc sits at the 86th percentile: it is larger than about 86% of them. Against every charity in United States with reported income it ranks in the 87th percentile, and in the 87th percentile within IN. Charities of a similar size with the same main cause include Handi-Shop Inc ($2.2m), Arnold Food Pantry ($2.2m) and Nist Child Care Association Inc ($2.2m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 12% and program service revenue 84% of the total. Compensation of current officers, directors and key employees was $307k (13% of expenses). Other salaries and wages came to $935k. At year end it held assets of $4.9m against liabilities of $963k, net assets of $4.0m. It reported 34 employees.