Durham Academy Inc

Analysis

Durham Academy Inc is a registered charity in United States, based in Durham, NC. It received its IRS tax-exemption ruling in January 1961, 65 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, Durham Academy Inc reported income of $42.6m and spending of $39.8m, spending 94% of its income. Across the 5 years on record, from June 2019 to June 2023, income fell from $44.4m to $42.6m (-4.0%), an average of -1.0% a year. Over the whole period it spent 86% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Durham Academy Inc sits at the 98th percentile: it is larger than about 98% of them. Against every charity in United States with reported income it ranks in the 98th percentile, and in the 99th percentile within NC. Charities of a similar size with the same main cause include The Achievement Network Ltd ($42.6m), University of Mary Washington Foundation ($42.6m) and Hmong Academy ($42.5m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 7.3% and program service revenue 90% of the total. Compensation of current officers, directors and key employees was $2.0m (5.1% of expenses). Other salaries and wages came to $17.1m. At year end it held assets of $116.1m against liabilities of $30.5m, net assets of $85.6m. It reported 622 employees.