Sullins Academy Inc

Analysis

Sullins Academy Inc is a registered charity in United States, based in Bristol, VA. It received its IRS tax-exemption ruling in May 1969, 57 years ago. 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, Sullins Academy Inc reported income of $2.3m and spending of $2.3m, spending 97% of its income. Across the 5 years on record, from June 2019 to June 2023, income grew from $1.7m to $2.3m (+37%), an average of +8.1% a year. The sharpest change came in the year to June 2021, when income rose by 45%. Over the whole period it spent 95% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Sullins Academy Inc sits at the 86th percentile: it is larger than about 86% of them. Against every charity in United States with reported income it ranks in the 87th percentile, and in the 88th percentile within VA. Charities of a similar size with the same main cause include Bristol Child Development Center Inc ($2.3m), National Alliance on Mental Illness Greater Los Angeles Area Nami Glac ($2.3m) and Volunteers of America Inc ($2.3m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 4.4% and program service revenue 84% of the total. Compensation of current officers, directors and key employees was $138k (6.1% of expenses). Other salaries and wages came to $1.2m. At year end it held assets of $8.3m against liabilities of $383k, net assets of $7.9m. It reported 47 employees.