Chesapeake Academy Inc

Analysis

Chesapeake Academy Inc is a registered charity in United States, based in Irvington, VA. It received its IRS tax-exemption ruling in April 1968, 58 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, Chesapeake Academy Inc reported income of $2.2m and spending of $2.4m, spending 109% of what it took in. Across the 4 years on record, from June 2020 to June 2023, income grew from $2.0m to $2.2m (+12%), an average of +3.9% a year. The sharpest change came in the year to June 2021, when income rose by 26%. Over the whole period it spent 95% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Chesapeake Academy Inc sits at the 83rd percentile: it is larger than about 83% of them. Against every charity in United States with reported income it ranks in the 87th percentile, and in the 87th percentile within VA. Charities of a similar size with the same main cause include Fortify Foundation ($2.2m), Chedvas Bais Yaakov Inc ($2.2m) and Acupuncture and Integrative Medicine College Berkeley ($2.2m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 13% and program service revenue 81% of the total. Other salaries and wages came to $1.1m. At year end it held assets of $3.0m against liabilities of $471k, net assets of $2.6m. It reported 33 employees.