Coral Reef Academy Inc

Analysis

Coral Reef Academy Inc is a registered charity in United States, based in Christiansted, VI. It received its IRS tax-exemption ruling in April 2019, 7 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 December 2023, Coral Reef Academy Inc reported income of $796k and spending of $729k, spending 92% of its income. Across the 4 years on record, from December 2020 to December 2023, income grew from $417k to $796k (+91%), an average of +24% a year. The sharpest change came in the year to December 2021, when income rose by 55%. Over the whole period it spent 96% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Coral Reef Academy Inc sits at the 73rd percentile: it is larger than about 73% of them. Against every charity in United States with reported income it ranks in the 77th percentile, and in the 83rd percentile within VI. Charities of a similar size with the same main cause include Wellington Christian Academy Inc ($796k), Bennington Free Library ($796k) and Chesterton Academy of the St Croix Valley ($796k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 11% and program service revenue 89% of the total. At year end it held assets of $187k against liabilities of $106k, net assets of $81k. It reported 25 employees.