Pineapple Cove Classical Academy Inc

Analysis

Pineapple Cove Classical Academy Inc is a registered charity in United States, based in Palm Bay, FL. It received its IRS tax-exemption ruling in June 2017, 9 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, Pineapple Cove Classical Academy Inc reported income of $10.8m and spending of $11.1m, spending 103% of its income. Across the 5 years on record, from June 2019 to June 2023, income grew from $5.2m to $10.8m (+106%), an average of +20% a year. The sharpest change came in the year to June 2020, when income rose by 34%. Over the whole period it spent 112% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Pineapple Cove Classical Academy Inc sits at the 94th percentile: it is larger than about 94% of them. Against every charity in United States with reported income it ranks in the 95th percentile, and in the 96th percentile within FL. Charities of a similar size with the same main cause include Chicago High School for the Arts ($10.8m), Marin Montessori School Inc ($10.8m) and Elgin Academy ($10.8m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 91% and program service revenue 8.7% of the total. Other salaries and wages came to $5.5m. At year end it held assets of $29.0m against liabilities of $32.8m, net assets of -$3.7m. It reported 171 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.