Montverde Academy

Analysis

Montverde Academy is a registered charity in United States, based in Montverde, FL. It received its IRS tax-exemption ruling in April 1948, 78 years ago. The IRS classifies it as a publicly supported organisation (gross receipts test) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending May 2023, Montverde Academy reported income of $33.5m and spending of $34.2m, spending 102% of its income. Across the 5 years on record, from May 2019 to May 2023, income grew from $29.8m to $33.5m (+12%), an average of +3.0% a year. Over the whole period it spent 95% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Montverde Academy sits at the 99th percentile: it is larger than about 98% of them. Against every charity in United States with reported income it ranks in the 98th percentile, and in the 98th percentile within FL. Charities of a similar size with the same main cause include Via Christi Healthcare Outreach Program for Elders Inc ($33.5m), Liberty Resources Inc ($33.5m) and Chadron Community Hospital Corp ($33.5m).

On its Form 990 for the period ending May 2023, revenue came from contributions and grants 0.6% and program service revenue 94% of the total. Compensation of current officers, directors and key employees was $667k (1.9% of expenses). Other salaries and wages came to $11.8m. At year end it held assets of $54.8m against liabilities of $11.1m, net assets of $43.8m. It reported 383 employees.