Putnam Academy of Arts and Sciences Inc

Analysis

Putnam Academy of Arts and Sciences Inc is a registered charity in United States, based in Palatka, FL. It received its IRS tax-exemption ruling in November 2012, 14 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 2023, Putnam Academy of Arts and Sciences Inc reported income of $2.0m and spending of $2.2m, spending 108% of what it took in. Across the 5 years on record, from June 2019 to June 2023, income grew from $1.5m to $2.0m (+33%), an average of +7.4% a year. The sharpest change came in the year to June 2022, when income rose by 50%. Over the whole period it spent 100% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Putnam Academy of Arts and Sciences Inc sits at the 82nd percentile: it is larger than about 82% of them. Against every charity in United States with reported income it ranks in the 86th percentile, and in the 88th percentile within FL. Charities of a similar size with the same main cause include Coral Park Community Outreach Inc ($2.0m), Bethlehem Christian School ($2.0m) and Millville Public Library ($2.0m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 99% of the total. Other salaries and wages came to $1.3m. At year end it held assets of $1.7m against liabilities of $1.3m, net assets of $463k. It reported 26 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.