Concord Academy Inc

Analysis

Concord Academy Inc is a registered charity in United States, based in Memphis, TN. It received its IRS tax-exemption ruling in August 1983, 43 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, Concord Academy Inc reported income of $1.3m and spending of $1.2m, spending 91% of its income. Across the 5 years on record, from July 2019 to July 2023, income grew from $954k to $1.3m (+33%), an average of +7.5% a year. The sharpest change came in the year to July 2021, when income rose by 20%. Over the whole period it spent 97% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Concord Academy Inc sits at the 80th percentile: it is larger than about 80% of them. Against every charity in United States with reported income it ranks in the 82nd percentile, and in the 83rd percentile within TN. Charities of a similar size with the same main cause include WMC Foundatiion Inc ($1.3m), National Christian Charitable Foundation Inc ($1.3m) and State Historical Society of Missouri ($1.3m).

On its Form 990 for the period ending July 2023, revenue came from contributions and grants 28% and program service revenue 76% of the total. Compensation of current officers, directors and key employees was $89k (7.7% of expenses). Other salaries and wages came to $706k. At year end it held assets of $726k against liabilities of $156k, net assets of $570k. It reported 18 employees.