Laurel Academy

Analysis

Laurel Academy is a registered charity in United States, based in Seattle, WA. It received its IRS tax-exemption ruling in October 1993, 33 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, Laurel Academy reported income of $1.9m and spending of $1.9m, spending 100% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $1.2m to $1.9m (+61%), an average of +13% a year. The sharpest change came in the year to December 2021, when income rose by 61%. Over the whole period it spent 97% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Laurel Academy sits at the 85th percentile: it is larger than about 84% of them. Against every charity in United States with reported income it ranks in the 86th percentile, and in the 86th percentile within WA. Charities of a similar size with the same main cause include Bridgewood Non Profit Housing Corp ($1.9m), Southeast Georgia Health System Foundation Inc ($1.9m) and Neighborhood Housing Services Inc ($1.9m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 1.5% and program service revenue 99% of the total. Compensation of current officers, directors and key employees was $130k (6.7% of expenses). Other salaries and wages came to $994k. At year end it held assets of $5.1m against liabilities of $920k, net assets of $4.2m. It reported 34 employees.