Westminster Academy

Analysis

Westminster Academy is a registered charity in United States, based in Memphis, TN. It received its IRS tax-exemption ruling in August 1996, 30 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, Westminster Academy reported income of $7.1m and spending of $7.4m, spending 105% of its income. Across the 5 years on record, from June 2019 to June 2023, income grew from $4.8m to $7.1m (+47%), an average of +10% a year. The sharpest change came in the year to June 2020, when income rose by 19%. 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, Westminster Academy sits at the 91st percentile: it is larger than about 91% of them. Against every charity in United States with reported income it ranks in the 94th percentile, and in the 94th percentile within TN. Charities of a similar size with the same main cause include Midamerica Nazarene University Foundation ($7.1m), Bnos Malka Academy ($7.1m) and Chatham Day School Inc ($7.1m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 8.5% and program service revenue 90% of the total. Other salaries and wages came to $3.5m. At year end it held assets of $8.9m against liabilities of $6.8m, net assets of $2.1m. It reported 147 employees.