Okaloosa Academy Incorporated

Analysis

Okaloosa Academy Incorporated is a registered charity in United States, based in Miramar Beach, FL. It received its IRS tax-exemption ruling in December 1997, 29 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, Okaloosa Academy Incorporated reported income of $3.4m and spending of $3.3m, spending 97% of its income. Across the 5 years on record, from June 2019 to June 2023, income fell from $3.6m to $3.4m (-5.3%), an average of -1.4% a year. The sharpest change came in the year to June 2021, when income rose by 34%. 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, Okaloosa Academy Incorporated sits at the 86th percentile: it is larger than about 86% of them. Against every charity in United States with reported income it ranks in the 90th percentile, and in the 91st percentile within FL. Charities of a similar size with the same main cause include Bluffview Montessori School ($3.4m), Dominion Christian Schools Inc ($3.4m) and North Delta School Inc ($3.4m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 94% and program service revenue 0.4% of the total. Other salaries and wages came to $1.6m. At year end it held assets of $2.3m against liabilities of $34k, net assets of $2.2m. It reported 59 employees.