The Island Academy of Hilton Head

Analysis

The Island Academy of Hilton Head is a registered charity in United States, based in Hilton Head Island, SC. It received its IRS tax-exemption ruling in December 2017, 9 years ago. 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, The Island Academy of Hilton Head reported income of $396k and spending of $653k, spending 165% of what it took in. Across the 4 years on record, from June 2019 to June 2023, income fell from $398k to $396k (-0.6%), an average of -0.2% a year. The sharpest change came in the year to June 2022, when income rose by 25%. Over the whole period it spent 144% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, The Island Academy of Hilton Head sits at the 65th percentile: it is larger than about 65% of them. Against every charity in United States with reported income it ranks in the 66th percentile, and in the 71st percentile within SC. Charities of a similar size with the same main cause include Vo-Vi Friendship Association of Northern California ($396k), Animal Shelter of Northeast Nebraska Inc ($396k) and Warriors Path Volunteer Fire Dept Inc ($396k).

On its Form 990 for the period ending June 2023, revenue came from program service revenue 94% of the total. Other salaries and wages came to $282k. At year end it held assets of $134k against liabilities of $677k, net assets of -$543k. It reported 10 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.