Tidewater Academy Inc

Analysis

Tidewater Academy Inc is a registered charity in United States, based in Wakefield, VA. It received its IRS tax-exemption ruling in June 1971, 55 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 2024, Tidewater Academy Inc reported income of $1.7m and spending of $1.7m, spending 98% of its income. Across the 5 years on record, from June 2020 to June 2024, income grew from $1.4m to $1.7m (+22%), an average of +5.2% a year. The sharpest change came in the year to June 2021, when income rose by 25%. 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, Tidewater Academy Inc sits at the 81st percentile: it is larger than about 81% of them. Against every charity in United States with reported income it ranks in the 85th percentile, and in the 85th percentile within VA. Charities of a similar size with the same main cause include The Sunshine Academy and Daycare Corporation ($1.7m), Unity Schools Socal ($1.7m) and Greater Communities ($1.7m).

On its Form 990 for the period ending June 2024, revenue came from contributions and grants 21% and program service revenue 77% of the total. Compensation of current officers, directors and key employees was $97k (5.8% of expenses). Other salaries and wages came to $880k. At year end it held assets of $1.1m against liabilities of $233k, net assets of $846k. It reported 64 employees.