Broadwater Academy

Analysis

Broadwater Academy is a registered charity in United States, based in Exmore, VA. It received its IRS tax-exemption ruling in August 1967, 59 years ago. Its declared purposes cover education, which this site groups under education and training. The IRS classifies it as a publicly supported organisation (donations from the general public) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending June 2023, Broadwater Academy reported income of $4.0m and spending of $4.3m, spending 107% of what it took in. Across the 5 years on record, from June 2019 to June 2023, income grew from $3.3m to $4.0m (+20%), an average of +4.7% a year. The sharpest change came in the year to June 2021, when income rose by 23%. Over the whole period it spent 102% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Broadwater Academy sits at the 88th percentile: it is larger than about 88% of them. Against every charity in United States with reported income it ranks in the 91st percentile, and in the 91st percentile within VA. Charities of a similar size with the same main cause include Summit Charter School Inc ($4.0m), Carden Memorial Foundation ($4.0m) and Paddington Station Inc ($4.0m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 12% and program service revenue 88% of the total. Compensation of current officers, directors and key employees was $371k (8.7% of expenses). Other salaries and wages came to $2.2m. At year end it held assets of $4.7m against liabilities of $4.0m, net assets of $665k. It reported 87 employees.