Frederica Academy Inc

Analysis

Frederica Academy Inc is a registered charity in United States, based in St Simons Is, GA. It received its IRS tax-exemption ruling in September 1970, 56 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, Frederica Academy Inc reported income of $13.8m and spending of $11.9m, spending 87% of its income. Across the 5 years on record, from June 2019 to June 2023, income grew from $8.4m to $13.8m (+65%), an average of +13% a year. The sharpest change came in the year to June 2022, when income rose by 56%. Over the whole period it spent 85% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Frederica Academy Inc sits at the 95th percentile: it is larger than about 95% of them. Against every charity in United States with reported income it ranks in the 96th percentile, and in the 97th percentile within GA. Charities of a similar size with the same main cause include The River School HCSR ($13.8m), Metropolitan State University of Denver Foundation Inc ($13.8m) and University of New Orleans Foundation ($13.8m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 26% and program service revenue 71% of the total. Compensation of current officers, directors and key employees was $240k (2.0% of expenses). Other salaries and wages came to $4.7m. It paid $5,927 in professional fundraising fees. At year end it held assets of $29.0m against liabilities of $9.4m, net assets of $19.6m. It reported 139 employees.