Carpe Diem Academy Corporation

Analysis

Carpe Diem Academy Corporation is a registered charity in United States, based in Miami, FL. It received its IRS tax-exemption ruling in August 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, Carpe Diem Academy Corporation reported income of $3.5m and spending of $4.3m, spending 123% of what it took in. Across the 5 years on record, from June 2019 to June 2023, income grew from $2.1m to $3.5m (+62%), an average of +13% a year. The sharpest change came in the year to June 2020, when income rose by 46%. Over the whole period it spent 110% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Carpe Diem Academy Corporation sits at the 86th percentile: it is larger than about 86% of them. Against every charity in United States with reported income it ranks in the 90th percentile, and in the 91st percentile within FL. Charities of a similar size with the same main cause include Genesee Community Charter School ($3.5m), Shepherd University Foundation Inc ($3.5m) and C S Lewis Academy ($3.5m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 12% and program service revenue 88% of the total. Compensation of current officers, directors and key employees was $125k (2.9% of expenses). Other salaries and wages came to $2.4m. At year end it held assets of -$505k against liabilities of $870k, net assets of -$1.4m. It reported 90 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.