Hampton Roads Academy

Analysis

Hampton Roads Academy is a registered charity in United States, based in Newport News, VA. It received its IRS tax-exemption ruling in February 1961, 65 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, Hampton Roads Academy reported income of $16.6m and spending of $14.3m, spending 86% of its income. Across the 5 years on record, from June 2019 to June 2023, income grew from $16.1m to $16.6m (+3.4%), an average of +0.8% a year. The sharpest change came in the year to June 2020, when income dropped by 21%. Over the whole period it spent 89% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Hampton Roads Academy 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 97th percentile, and in the 97th percentile within VA. Charities of a similar size with the same main cause include Shawnigan Lake School Foundation ($16.6m), University of Akron Foundation ($16.6m) and University Union Operation of Ca State Univ Sacramento ($16.6m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 20% and program service revenue 78% of the total. Compensation of current officers, directors and key employees was $508k (3.6% of expenses). Other salaries and wages came to $7.1m. At year end it held assets of $24.4m against liabilities of $3.5m, net assets of $20.8m. It reported 231 employees.