Hargrave Military Academy

Analysis

Hargrave Military Academy is a registered charity in United States, based in Chatham, VA. It received its IRS tax-exemption ruling in February 2003, 23 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 May 2024, Hargrave Military Academy reported income of $11.1m and spending of $12.3m, spending 111% of what it took in. Across the 5 years on record, from May 2020 to May 2024, income fell from $14.5m to $11.1m (-23%), an average of -6.4% a year. The sharpest change came in the year to May 2021, when income dropped by 42%. Over the whole period it spent 99% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Hargrave Military Academy sits at the 94th percentile: it is larger than about 94% of them. Against every charity in United States with reported income it ranks in the 95th percentile, and in the 96th percentile within VA. Charities of a similar size with the same main cause include Harlem Hebrew Language Academy Charter School ($11.1m), Great River School ($11.1m) and High Meadows School Inc ($11.1m).

On its Form 990 for the period ending May 2024, revenue came from contributions and grants 30% and program service revenue 60% of the total. Compensation of current officers, directors and key employees was $331k (2.7% of expenses). Other salaries and wages came to $3.7m. At year end it held assets of $22.9m against liabilities of $2.1m, net assets of $20.8m. It reported 148 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.