Midland Classical Academy

Analysis

Midland Classical Academy is a registered charity in United States, based in Midland, TX. It received its IRS tax-exemption ruling in December 1998, 28 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, Midland Classical Academy reported income of $4.9m and spending of $4.9m, spending 100% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $3.5m to $4.9m (+40%), an average of +8.8% a year. The sharpest change came in the year to December 2021, when income rose by 66%. Over the whole period it spent 84% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Midland Classical Academy sits at the 89th percentile: it is larger than about 89% of them. Against every charity in United States with reported income it ranks in the 92nd percentile, and in the 94th percentile within TX. Charities of a similar size with the same main cause include Charlotte Mecklenburg Library Foundation ($4.9m), US Learning Corporation ($4.9m) and Friends of Chattanooga Prep Inc ($4.9m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 12% and program service revenue 82% of the total. Compensation of current officers, directors and key employees was $468k (9.5% of expenses). Other salaries and wages came to $1.5m. At year end it held assets of $11.9m against liabilities of $0, net assets of $11.9m. It reported 122 employees.