Newberry Academy

Analysis

Newberry Academy is a registered charity in United States, based in Newberry, SC. It received its IRS tax-exemption ruling in August 1966, 60 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 July 2023, Newberry Academy reported income of $2.0m and spending of $1.6m, leaving 20% of income unspent that year. Across the 5 years on record, from July 2019 to July 2023, income grew from $1.2m to $2.0m (+77%), an average of +15% a year. The sharpest change came in the year to July 2021, when income rose by 28%. Over the whole period it spent 84% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Newberry Academy sits at the 85th percentile: it is larger than about 85% of them. Against every charity in United States with reported income it ranks in the 86th percentile, and in the 89th percentile within SC. Charities of a similar size with the same main cause include Zeigler Habilitation Homes Inc ($2.0m), Kaiser Home Support Services Inc ($2.0m) and S E M Villa Inc ($2.0m).

On its Form 990 for the period ending July 2023, revenue came from contributions and grants 19% and program service revenue 79% of the total. Compensation of current officers, directors and key employees was $74k (4.5% of expenses). Other salaries and wages came to $941k. At year end it held assets of $1.7m against liabilities of $592k, net assets of $1.1m. It reported 52 employees.