Admiral Farragut Academy Inc

Analysis

Admiral Farragut Academy Inc is a registered charity in United States, based in St Petersburg, FL. It received its IRS tax-exemption ruling in June 1991, 35 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, Admiral Farragut Academy Inc reported income of $16.9m and spending of $16.2m, spending 96% of its income. Across the 5 years on record, from June 2019 to June 2023, income grew from $12.5m to $16.9m (+35%), an average of +7.8% a year. The sharpest change came in the year to June 2020, when income rose by 41%. Over the whole period it spent 97% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Admiral Farragut Academy Inc sits at the 96th percentile: it is larger than about 96% of them. Against every charity in United States with reported income it ranks in the 97th percentile, and in the 97th percentile within FL. Charities of a similar size with the same main cause include Kipp West Philadelphia Charter School ($16.9m), Frayser Community Schools ($16.9m) and Impact Charter School West ($16.9m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 21% and program service revenue 78% of the total. Compensation of current officers, directors and key employees was $786k (4.8% of expenses). Other salaries and wages came to $5.2m. It paid $25k in professional fundraising fees. At year end it held assets of $18.1m against liabilities of $11.9m, net assets of $6.2m. It reported 154 employees.