Cape Fear Academy Inc

Analysis

Cape Fear Academy Inc is a registered charity in United States, based in Wilmington, NC. It received its IRS tax-exemption ruling in August 1966, 60 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, Cape Fear Academy Inc reported income of $19.4m and spending of $17.5m, spending 90% of its income. Across the 5 years on record, from June 2020 to June 2024, income grew from $13.2m to $19.4m (+47%), an average of +10% 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, Cape Fear Academy Inc sits at the 96th percentile: it is larger than about 96% of them. Against every charity in United States with reported income it ranks in the 97th percentile, and in the 98th percentile within NC. Charities of a similar size with the same main cause include Entrepreneurial Ventures in Education ($19.4m), Community School of Davidson Inc ($19.4m) and Illinois Masonic Charities Fund ($19.4m).

On its Form 990 for the period ending June 2024, revenue came from contributions and grants 8.1% and program service revenue 90% of the total. Compensation of current officers, directors and key employees was $549k (3.1% of expenses). Other salaries and wages came to $8.1m. At year end it held assets of $47.7m against liabilities of $26.1m, net assets of $21.6m. It reported 272 employees.