Olivet Academy

Analysis

Olivet Academy is a registered charity in United States, based in Amenia, NY. It received its IRS tax-exemption ruling in July 2020, 6 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, Olivet Academy reported income of $2.6m and spending of $2.6m, spending 99% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $978k to $2.6m (+170%), an average of +28% a year. The sharpest change came in the year to December 2020, when income rose by 170%. Over the whole period it spent 91% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Olivet Academy sits at the 84th percentile: it is larger than about 84% of them. Against every charity in United States with reported income it ranks in the 88th percentile, and in the 85th percentile within NY. Charities of a similar size with the same main cause include Hepatitis Education Project ($2.6m), Sunny Hollow Montessori ($2.6m) and Summit Academy Community School for Alternative Learners ($2.6m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 92% and program service revenue 7.7% of the total. Compensation of current officers, directors and key employees was $60k (2.3% of expenses). Other salaries and wages came to $1.5m. At year end it held assets of $4.3m against liabilities of $2.9m, net assets of $1.4m. It reported 43 employees.