Wilm Academy of Arts & Science

Analysis

Wilm Academy of Arts & Science is a registered charity in United States, based in Wilmington, NC. It received its IRS tax-exemption ruling in July 1997, 29 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 2024, Wilm Academy of Arts & Science reported income of $1.2m and spending of $1.1m, spending 93% of its income. Across the 5 years on record, from June 2020 to June 2024, income grew from $886k to $1.2m (+36%), an average of +8.1% a year. The sharpest change came in the year to June 2024, when income rose by 16%. Over the whole period it spent 93% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Wilm Academy of Arts & Science sits at the 77th percentile: it is larger than about 77% of them. Against every charity in United States with reported income it ranks in the 81st percentile, and in the 82nd percentile within NC. Charities of a similar size with the same main cause include Harbor Day School ($1.2m), Petaluma Educational FDN ($1.2m) and New Horizons Educational Foundation Inc ($1.2m).

On its Form 990 for the period ending June 2024, revenue came from contributions and grants 0.2% and program service revenue 98% of the total. Compensation of current officers, directors and key employees was $121k (11% of expenses). Other salaries and wages came to $642k. At year end it held assets of $2.0m against liabilities of $906k, net assets of $1.1m. It reported 18 employees.