Merrimac Heights Academy Inc

Analysis

Merrimac Heights Academy Inc is a registered charity in United States, based in Merrimac, MA. It received its IRS tax-exemption ruling in June 2014, 12 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 2024, Merrimac Heights Academy Inc reported income of $2.2m and spending of $1.7m, leaving 25% of income unspent that year. Across the 6 years on record, from June 2019 to June 2024, income grew from $1.0m to $2.2m (+116%), an average of +17% a year. The sharpest change came in the year to June 2022, when income rose by 85%. Over the whole period it spent 82% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Merrimac Heights Academy Inc sits at the 83rd percentile: it is larger than about 83% of them. Against every charity in United States with reported income it ranks in the 87th percentile, and in the 86th percentile within MA. Charities of a similar size with the same main cause include Magnolia Montessori Academy Inc ($2.2m), Acupuncture and Integrative Medicine College Berkeley ($2.2m) and Charlotte Secondary School Inc ($2.2m).

On its Form 990 for the period ending June 2024, revenue came from contributions and grants 1.0% and program service revenue 95% of the total. Compensation of current officers, directors and key employees was $146k (8.6% of expenses). Other salaries and wages came to $949k. At year end it held assets of $3.0m against liabilities of $1.1m, net assets of $1.9m. It reported 24 employees.