Madison Academy Inc

Analysis

Madison Academy Inc is a registered charity in United States, based in Madison, AL. It received its IRS tax-exemption ruling in July 1958, 68 years ago. 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, Madison Academy Inc reported income of $9.9m and spending of $10.6m, spending 107% of what it took in. Across the 5 years on record, from June 2019 to June 2023, income grew from $8.4m to $9.9m (+18%), an average of +4.1% a year. Over the whole period it spent 103% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Madison Academy Inc sits at the 95th percentile: it is larger than about 95% of them. Against every charity in United States with reported income it ranks in the 95th percentile, and in the 97th percentile within AL. Charities of a similar size with the same main cause include New Mexico Coalition of Sexual Assault Programs ($9.9m), Francis Parker School of Louiville Inc ($9.9m) and Agape International Missions ($9.9m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 5.3% and program service revenue 92% of the total. Compensation of current officers, directors and key employees was $202k (1.9% of expenses). Other salaries and wages came to $5.1m. At year end it held assets of $15.0m against liabilities of $7.2m, net assets of $7.8m. It reported 230 employees.