Academy at Ocean Reef Inc

Analysis

Academy at Ocean Reef Inc is a registered charity in United States, based in Key Largo, FL. It received its IRS tax-exemption ruling in March 1991, 35 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 July 2024, Academy at Ocean Reef Inc reported income of $2.9m and spending of $3.1m, spending 108% of what it took in. Across the 6 years on record, from July 2019 to July 2024, income grew from $1.5m to $2.9m (+86%), an average of +13% a year. The sharpest change came in the year to July 2021, when income rose by 64%. Over the whole period it spent 108% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Academy at Ocean Reef Inc sits at the 88th percentile: it is larger than about 88% of them. Against every charity in United States with reported income it ranks in the 89th percentile, and in the 90th percentile within FL. Charities of a similar size with the same main cause include Academy Inc Flint River ($2.9m), Texas Water Utilities Association ($2.9m) and Catholic Neighborhood Outreach Incorporated ($2.9m).

On its Form 990 for the period ending July 2024, revenue came from contributions and grants 28% and program service revenue 49% of the total. Other salaries and wages came to $1.7m. At year end it held assets of $3.1m against liabilities of $410k, net assets of $2.7m. It reported 27 employees.