Palm Beach Day Academy Inc

Analysis

Palm Beach Day Academy Inc is a registered charity in United States, based in Palm Beach, FL. It received its IRS tax-exemption ruling in March 1940, 86 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, Palm Beach Day Academy Inc reported income of $32.0m and spending of $19.7m, leaving 38% of income unspent that year. Across the 5 years on record, from June 2019 to June 2023, income grew from $14.2m to $32.0m (+126%), an average of +23% a year. The sharpest change came in the year to June 2022, when income rose by 134%. Over the whole period it spent 69% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Palm Beach Day Academy Inc sits at the 97th percentile: it is larger than about 97% 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 Hiawatha Academies ($32.0m), University of Maryland Orthopaedic Associates P a ($32.0m) and Richland County Public Library ($32.0m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 37% and program service revenue 60% of the total. Compensation of current officers, directors and key employees was $1.0m (5.2% of expenses). Other salaries and wages came to $7.7m. At year end it held assets of $72.6m against liabilities of $16.2m, net assets of $56.4m. It reported 161 employees.