Westminster Academy Inc

Analysis

Westminster Academy Inc is a registered charity in United States, based in Richmond, VA. It received its IRS tax-exemption ruling in June 1988, 38 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 July 2024, Westminster Academy Inc reported income of $518k and spending of $526k, spending 101% of its income. Across the 6 years on record, from July 2019 to July 2024, income grew from $418k to $518k (+24%), an average of +4.4% a year. Over the whole period it spent 98% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Westminster Academy Inc sits at the 69th percentile: it is larger than about 69% of them. Against every charity in United States with reported income it ranks in the 71st percentile, and in the 71st percentile within VA. Charities of a similar size with the same main cause include Navy League of the United States Honolulu Council ($518k), Massachusetts Bicycle Coalition Incorporated ($518k) and Neighbors Corporation ($518k).

On its Form 990 for the period ending July 2024, revenue came from contributions and grants 0.2% and program service revenue 99% of the total. Compensation of current officers, directors and key employees was $73k (14% of expenses). Other salaries and wages came to $350k. At year end it held assets of $241k against liabilities of $89k, net assets of $151k. It reported 40 employees.