Salisbury Academy

Analysis

Salisbury Academy is a registered charity in United States, based in Salisbury, NC. It received its IRS tax-exemption ruling in April 1994, 32 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, Salisbury Academy reported income of $4.3m and spending of $2.9m, leaving 32% of income unspent that year. Across the 5 years on record, from June 2019 to June 2023, income grew from $2.4m to $4.3m (+76%), an average of +15% a year. The sharpest change came in the year to June 2023, when income rose by 43%. Over the whole period it spent 89% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Salisbury Academy sits at the 91st percentile: it is larger than about 91% of them. Against every charity in United States with reported income it ranks in the 91st percentile, and in the 92nd percentile within NC. Charities of a similar size with the same main cause include Pahc Apartments Inc ($4.3m), Marin Waldorf School Assn Inc ($4.3m) and Stevens Center ($4.3m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 46% and program service revenue 49% of the total. Compensation of current officers, directors and key employees was $152k (5.2% of expenses). Other salaries and wages came to $1.4m. At year end it held assets of $4.2m against liabilities of $2.4m, net assets of $1.8m. It reported 73 employees.