Sussex Academy of Arts & Sciences Inc

Analysis

Sussex Academy of Arts & Sciences Inc is a registered charity in United States, based in Georgetown, DE. It received its IRS tax-exemption ruling in April 2000, 26 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, Sussex Academy of Arts & Sciences Inc reported income of $14.9m and spending of $17.3m, spending 116% of what it took in. Across the 5 years on record, from June 2019 to June 2023, income grew from $9.2m to $14.9m (+62%), an average of +13% a year. The sharpest change came in the year to June 2021, when income rose by 35%. Over the whole period it spent 114% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Sussex Academy of Arts & Sciences Inc sits at the 95th percentile: it is larger than about 95% of them. Against every charity in United States with reported income it ranks in the 96th percentile, and in the 97th percentile within DE. Charities of a similar size with the same main cause include Galileo School Foundation Inc ($14.9m), Waverly School ($14.9m) and Torah Academy of Boca Raton Inc ($14.8m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 95% and program service revenue 4.1% of the total. Compensation of current officers, directors and key employees was $479k (2.8% of expenses). Other salaries and wages came to $7.4m. At year end it held assets of $37.3m against liabilities of $59.5m, net assets of -$22.2m.

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.