Mill Springs Academy Inc

Analysis

Mill Springs Academy Inc is a registered charity in United States, based in Alpharetta, GA. It received its IRS tax-exemption ruling in June 1981, 45 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 June 2023, Mill Springs Academy Inc reported income of $9.9m and spending of $9.7m, spending 98% of its income. Across the 5 years on record, from July 2019 to June 2023, income grew from $8.3m to $9.9m (+20%), an average of +4.6% a year. The sharpest change came in the year to July 2021, when income rose by 17%. Over the whole period it spent 103% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Mill Springs 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 95th percentile, and in the 96th percentile within GA. Charities of a similar size with the same main cause include Oshean Inc ($9.9m), Goodwill Industries of El Paso Inc ($10.0m) and Yad Yisroel Inc ($9.9m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 13% and program service revenue 85% of the total. Compensation of current officers, directors and key employees was $450k (4.6% of expenses). Other salaries and wages came to $5.2m. At year end it held assets of $18.1m against liabilities of $4.6m, net assets of $13.5m. It reported 121 employees.