Sarasota Military Academy Inc

Analysis

Sarasota Military Academy Inc is a registered charity in United States, based in Sarasota, FL. It received its IRS tax-exemption ruling in April 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 June 2023, Sarasota Military Academy Inc reported income of $14.0m and spending of $13.7m, spending 97% of its income. Across the 5 years on record, from June 2019 to June 2023, income grew from $13.6m to $14.0m (+3.6%), an average of +0.9% a year. The sharpest change came in the year to June 2021, when income rose by 16%. Over the whole period it spent 98% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Sarasota Military 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 96th percentile, and in the 97th percentile within FL. Charities of a similar size with the same main cause include Kiskiminetas Springs School ($14.0m), Northside Education Inc ($14.0m) and Alabama Educational Foundation and Indian Springs School a Corporatio ($14.0m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 3.1% and program service revenue 97% of the total. Compensation of current officers, directors and key employees was $480k (3.5% of expenses). Other salaries and wages came to $6.9m. At year end it held assets of $21.1m against liabilities of $19.6m, net assets of $1.5m. It reported 202 employees.