Panama City Advanced School Corporation

Analysis

Panama City Advanced School Corporation is a registered charity in United States, based in Panama City, FL. It received its IRS tax-exemption ruling in December 2002, 24 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 December 2023, Panama City Advanced School Corporation reported income of $1.8m and spending of $1.4m, leaving 21% of income unspent that year. Across the 5 years on record, from December 2019 to December 2023, income grew from $1.2m to $1.8m (+49%), an average of +10% a year. The sharpest change came in the year to December 2023, when income rose by 42%. Over the whole period it spent 86% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Panama City Advanced School Corporation sits at the 81st percentile: it is larger than about 81% of them. Against every charity in United States with reported income it ranks in the 85th percentile, and in the 87th percentile within FL. Charities of a similar size with the same main cause include The Soulfisher Ministries ($1.8m), Mindful Schools ($1.8m) and Small Wonders Day Care & Preschool Inc ($1.8m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 32% and program service revenue 65% of the total. Compensation of current officers, directors and key employees was $66k (4.6% of expenses). Other salaries and wages came to $860k. At year end it held assets of $2.4m against liabilities of $0, net assets of $2.4m. It reported 48 employees.