Palmdale Aerospace Academy Inc

Analysis

Palmdale Aerospace Academy Inc is a registered charity in United States, based in Palmdale, CA. It received its IRS tax-exemption ruling in September 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, Palmdale Aerospace Academy Inc reported income of $51.6m and spending of $40.4m, leaving 22% of income unspent that year. Across the 5 years on record, from June 2019 to June 2023, income grew from $22.7m to $51.6m (+128%), an average of +23% a year. The sharpest change came in the year to June 2020, when income rose by 43%. Over the whole period it spent 88% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Palmdale Aerospace Academy Inc sits at the 98th percentile: it is larger than about 98% of them. Against every charity in United States with reported income it ranks in the 99th percentile, and in the 99th percentile within CA. Charities of a similar size with the same main cause include Adler University ($51.6m), Worcester City Campus Corporation ($51.7m) and Ensworth School ($51.5m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 100% of the total. Compensation of current officers, directors and key employees was $353k (0.9% of expenses). Other salaries and wages came to $17.6m. At year end it held assets of $111.4m against liabilities of $82.8m, net assets of $28.6m. It reported 342 employees.