Fredericksburg Academy

Analysis

Fredericksburg Academy is a registered charity in United States, based in Fredericksbrg, VA. It received its IRS tax-exemption ruling in January 1992, 34 years ago. Its declared purposes cover education, which this site groups under education and training. The IRS classifies it as a publicly supported organisation (gross receipts test) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending June 2023, Fredericksburg Academy reported income of $10.6m and spending of $10.3m, spending 98% of its income. Across the 5 years on record, from June 2019 to June 2023, income grew from $9.7m to $10.6m (+9.3%), an average of +2.3% a year. Over the whole period it spent 94% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Fredericksburg Academy sits at the 94th percentile: it is larger than about 94% of them. Against every charity in United States with reported income it ranks in the 95th percentile, and in the 96th percentile within VA. Charities of a similar size with the same main cause include Propel Charter School - Northside ($10.6m), Communities in Schools of Charlotte Mecklenburg Inc ($10.6m) and Point Foundation ($10.6m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 3.0% and program service revenue 95% of the total. Compensation of current officers, directors and key employees was $170k (1.6% of expenses). Other salaries and wages came to $4.4m. At year end it held assets of $17.0m against liabilities of $9.9m, net assets of $7.1m. It reported 178 employees.