Cary Academy

Analysis

Cary Academy is a registered charity in United States, based in Cary, NC. It received its IRS tax-exemption ruling in March 1996, 30 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, Cary Academy reported income of $29.0m and spending of $28.4m, spending 98% of its income. Across the 5 years on record, from June 2019 to June 2023, income grew from $24.6m to $29.0m (+18%), an average of +4.2% a year. Over the whole period it spent 97% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Cary Academy sits at the 97th percentile: it is larger than about 97% of them. Against every charity in United States with reported income it ranks in the 98th percentile, and in the 98th percentile within NC. Charities of a similar size with the same main cause include Bastyr University ($29.0m), Chavez Huerta K-12 Preparatory Academy ($29.0m) and Einstein Group ($28.9m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 11% and program service revenue 85% of the total. Compensation of current officers, directors and key employees was $1.0m (3.6% of expenses). Other salaries and wages came to $12.3m. At year end it held assets of $90.9m against liabilities of $3.9m, net assets of $87.0m. It reported 267 employees.