Talmudical Academy of Norfolk Inc

Analysis

Talmudical Academy of Norfolk Inc is a registered charity in United States, based in Norfolk, VA. It received its IRS tax-exemption ruling in December 2003, 23 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 2024, Talmudical Academy of Norfolk Inc reported income of $605k and spending of $799k, spending 132% of what it took in. Across the 6 years on record, from June 2019 to June 2024, income fell from $935k to $605k (-35%), an average of -8.3% a year. The sharpest change came in the year to June 2021, when income rose by 25%. Over the whole period it spent 111% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Talmudical Academy of Norfolk Inc sits at the 70th percentile: it is larger than about 70% of them. Against every charity in United States with reported income it ranks in the 73rd percentile, and in the 73rd percentile within VA. Charities of a similar size with the same main cause include Accreditation International ($605k), Beavercreek Music Parents Assoc Inc ($605k) and Delaware Center for Distance Adult Learning Inc ($605k).

On its Form 990 for the period ending June 2024, revenue came from contributions and grants 78% and program service revenue 12% of the total. Compensation of current officers, directors and key employees was $126k (16% of expenses). Other salaries and wages came to $289k. At year end it held assets of $1.7m against liabilities of $898, net assets of $1.7m. It reported 12 employees.

Data notes from the register: Spending has exceeded income in each of the last three reported years, so the charity has been drawing on reserves or other funds.