Northeast Academy for Aerospace & Advanced Technologies

Analysis

Northeast Academy for Aerospace & Advanced Technologies is a registered charity in United States, based in Elizabeth Cty, NC. It received its IRS tax-exemption ruling in September 2015, 11 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, Northeast Academy for Aerospace & Advanced Technologies reported income of $9.0m and spending of $8.8m, spending 98% of its income. Across the 5 years on record, from June 2019 to June 2023, income grew from $4.1m to $9.0m (+118%), an average of +22% a year. The sharpest change came in the year to June 2020, when income rose by 42%. Over the whole period it spent 96% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Northeast Academy for Aerospace & Advanced Technologies sits at the 93rd percentile: it is larger than about 93% of them. Against every charity in United States with reported income it ranks in the 95th percentile, and in the 96th percentile within NC. Charities of a similar size with the same main cause include Global Education Collaborative ($9.0m), University Circle Parking Services Inc ($9.0m) and American Renaissance Middle School ($9.0m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 96% and program service revenue 2.7% of the total. Compensation of current officers, directors and key employees was $272k (3.1% of expenses). Other salaries and wages came to $3.9m. At year end it held assets of $17.3m against liabilities of $15.9m, net assets of $1.4m. It reported 107 employees.