Midwest Academy Inc

Analysis

Midwest Academy Inc is a registered charity in United States, based in Chicago, IL. It received its IRS tax-exemption ruling in October 1973, 53 years ago. 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 December 2023, Midwest Academy Inc reported income of $2.2m and spending of $1.4m, leaving 36% of income unspent that year. Across the 5 years on record, from December 2019 to December 2023, income grew from $724k to $2.2m (+203%), an average of +32% a year. The sharpest change came in the year to December 2022, when income rose by 67%. Over the whole period it spent 65% 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 86th percentile within IL. Charities of a similar size with the same main cause include Family Crisis Center of Baltimore County Inc ($2.2m), Twelfth Step House of San Diego ($2.2m) and Arnold Food Pantry ($2.2m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 61% and program service revenue 39% of the total. Compensation of current officers, directors and key employees was $307k (22% of expenses). Other salaries and wages came to $356k. At year end it held assets of $2.8m against liabilities of $174k, net assets of $2.6m. It reported 10 employees.