Wellmont Academy of Tampa Bay Inc

Analysis

Wellmont Academy of Tampa Bay Inc is a registered charity in United States, based in St Petersburg, FL. It received its IRS tax-exemption ruling in May 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 May 2024, Wellmont Academy of Tampa Bay Inc reported income of $840k and spending of $1.0m, spending 119% of what it took in. Across the 6 years on record, from July 2019 to May 2024, income grew from $225k to $840k (+274%), an average of +30% a year. The sharpest change came in the year to July 2020, when income rose by 69%. Over the whole period it spent 98% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Wellmont Academy of Tampa Bay Inc sits at the 74th percentile: it is larger than about 74% of them. Against every charity in United States with reported income it ranks in the 77th percentile, and in the 79th percentile within FL. Charities of a similar size with the same main cause include The Abilene Education Foundation ($840k), Prodigy Leadership Academy ($840k) and T H O R N Ministries Inc ($840k).

On its Form 990 for the period ending May 2024, revenue came from contributions and grants 5.7% and program service revenue 94% of the total. Other salaries and wages came to $643k. At year end it held assets of $280k against liabilities of $3,384, net assets of $277k.