Shining Rock Classical Academy

Analysis

Shining Rock Classical Academy is a registered charity in United States, based in Waynesville, NC. It received its IRS tax-exemption ruling in December 2014, 12 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, Shining Rock Classical Academy reported income of $7.7m and spending of $5.7m, leaving 26% of income unspent that year. Across the 5 years on record, from June 2019 to June 2023, income grew from $3.6m to $7.7m (+114%), an average of +21% a year. The sharpest change came in the year to June 2022, when income rose by 57%. Over the whole period it spent 87% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Shining Rock Classical 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 95th percentile within NC. Charities of a similar size with the same main cause include Tuscaloosa Academy Inc ($7.7m), Spotlight Pa ($7.7m) and The North Carolina High School for Accelerated Learning Inc ($7.7m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 96% and program service revenue 3.7% of the total. Other salaries and wages came to $2.9m. At year end it held assets of $4.2m against liabilities of $285k, net assets of $3.9m. It reported 115 employees.