Bacot Academy Inc

Analysis

Bacot Academy Inc is a registered charity in United States, based in Panama City, FL. It received its IRS tax-exemption ruling in December 2008, 18 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 August 2023, Bacot Academy Inc reported income of $375k and spending of $374k, spending 100% of its income. Across the 5 years on record, from August 2019 to August 2023, income fell from $465k to $375k (-19%), an average of -5.2% a year. The sharpest change came in the year to August 2020, when income dropped by 48%. Over the whole period it spent 89% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Bacot Academy Inc sits at the 64th percentile: it is larger than about 64% of them. Against every charity in United States with reported income it ranks in the 66th percentile, and in the 68th percentile within FL. Charities of a similar size with the same main cause include Cornerstone Christian Academy ($375k), Excel Academy LLC ($375k) and Library Company of the Baltimore Bar ($375k).

On its Form 990 for the period ending August 2023, revenue came from contributions and grants 86% and program service revenue 13% of the total. Other salaries and wages came to $198k. At year end it held assets of $405k against liabilities of $21k, net assets of $384k. It reported 8 employees.