Cumberland Academy

Analysis

Cumberland Academy is a registered charity in United States, based in Tyler, TX. It received its IRS tax-exemption ruling in February 1997, 29 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 August 2023, Cumberland Academy reported income of $24.3m and spending of $25.7m, spending 106% of what it took in. Across the 5 years on record, from August 2019 to August 2023, income grew from $19.5m to $24.3m (+25%), an average of +5.7% a year. The sharpest change came in the year to August 2020, when income rose by 18%. Over the whole period it spent 95% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Cumberland Academy sits at the 98th percentile: it is larger than about 98% of them. Against every charity in United States with reported income it ranks in the 98th percentile, and in the 98th percentile within TX. Charities of a similar size with the same main cause include Maria Regina Residence Inc ($24.3m), Wellington School ($24.4m) and True Ground Housing Partners ($24.3m).

On its Form 990 for the period ending August 2023, revenue came from contributions and grants 95% and program service revenue 1.3% of the total. Other salaries and wages came to $13.7m. At year end it held assets of $89.4m against liabilities of $75.7m, net assets of $13.7m. It reported 476 employees.