Randolph Macon Academy

Analysis

Randolph Macon Academy is a registered charity in United States, based in Front Royal, VA. It received its IRS tax-exemption ruling in February 1974, 52 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, Randolph Macon Academy reported income of $20.6m and spending of $18.7m, spending 91% of its income. Across the 4 years on record, from June 2020 to June 2023, income grew from $15.3m to $20.6m (+35%), an average of +10% a year. The sharpest change came in the year to June 2023, when income rose by 45%. 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, Randolph Macon Academy sits at the 96th percentile: it is larger than about 96% of them. Against every charity in United States with reported income it ranks in the 97th percentile, and in the 97th percentile within VA. Charities of a similar size with the same main cause include Westover School Inc ($20.6m), Freire Charter School ($20.6m) and Ave Maria School of Law ($20.6m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 36% and program service revenue 68% of the total. Compensation of current officers, directors and key employees was $315k (1.7% of expenses). Other salaries and wages came to $6.5m. At year end it held assets of $39.7m against liabilities of $6.3m, net assets of $33.5m. It reported 165 employees.