Chelsea School

Analysis

Chelsea School is a registered charity in United States, based in Hyattsville, MD. It received its IRS tax-exemption ruling in March 1977, 49 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, Chelsea School reported income of $3.8m and spending of $4.0m, spending 103% of its income. Across the 5 years on record, from June 2019 to June 2023, income grew from $3.0m to $3.8m (+26%), an average of +6.0% a year. Over the whole period it spent 104% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Chelsea School sits at the 87th percentile: it is larger than about 87% of them. Against every charity in United States with reported income it ranks in the 91st percentile, and in the 89th percentile within MD. Charities of a similar size with the same main cause include Harvester Christian Academy Inc ($3.8m), Christopher Newport University Real Estate Foundation Inc ($3.8m) and Rising Leaders Academy Inc ($3.8m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 5.8% and program service revenue 87% of the total. Compensation of current officers, directors and key employees was $407k (10% of expenses). Other salaries and wages came to $1.9m. At year end it held assets of $5.7m against liabilities of $1.8m, net assets of $3.9m. It reported 56 employees.