First State Military Academy

Analysis

First State Military Academy is a registered charity in United States, based in Clayton, DE. It received its IRS tax-exemption ruling in December 2012, 14 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 2023, First State Military Academy reported income of $7.6m and spending of $9.3m, spending 122% of what it took in. Across the 5 years on record, from June 2019 to June 2023, income grew from $5.6m to $7.6m (+35%), an average of +7.8% a year. The sharpest change came in the year to June 2020, when income rose by 16%. Over the whole period it spent 117% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, First State Military Academy sits at the 92nd percentile: it is larger than about 92% of them. Against every charity in United States with reported income it ranks in the 94th percentile, and in the 94th percentile within DE. Charities of a similar size with the same main cause include Prairie Crossing Charter School ($7.6m), Eton Academy ($7.6m) and Silvies River Charter School ($7.6m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 94% and program service revenue 0.1% of the total. Compensation of current officers, directors and key employees was $218k (2.3% of expenses). Other salaries and wages came to $3.4m. At year end it held assets of $13.3m against liabilities of $24.0m, net assets of -$10.6m.

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.