Myrtle Grove Christian School

Analysis

Myrtle Grove Christian School is a registered charity in United States, based in Wilmington, NC. It received its IRS tax-exemption ruling in June 1984, 42 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 2024, Myrtle Grove Christian School reported income of $4.4m and spending of $4.2m, spending 95% of its income. Across the 5 years on record, from June 2020 to June 2024, income grew from $3.0m to $4.4m (+47%), an average of +10% a year. The sharpest change came in the year to June 2022, when income rose by 30%. 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, Myrtle Grove Christian School sits at the 91st percentile: it is larger than about 91% of them. Against every charity in United States with reported income it ranks in the 91st percentile, and in the 92nd percentile within NC. Charities of a similar size with the same main cause include University Dental Health Services Inc ($4.4m), Great Books Foundation ($4.4m) and Wittenberg Lutheran Village Endowment Corporation ($4.4m).

On its Form 990 for the period ending June 2024, revenue came from contributions and grants 4.1% and program service revenue 95% of the total. Compensation of current officers, directors and key employees was $63k (1.5% of expenses). Other salaries and wages came to $2.6m. At year end it held assets of $3.9m against liabilities of $2.1m, net assets of $1.8m. It reported 132 employees.