Nantucket Project Academy Inc

Analysis

Nantucket Project Academy Inc is a registered charity in United States, based in Nantucket, MA. It received its IRS tax-exemption ruling in April 2018, 8 years ago. Its declared purposes cover education, which this site groups under education and training. The IRS classifies it as a publicly supported organisation (donations from the general public) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, Nantucket Project Academy Inc reported income of $3.5m and spending of $3.7m, spending 104% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $1.5m to $3.5m (+136%), an average of +24% a year. The sharpest change came in the year to December 2023, when income rose by 294%. Over the whole period it spent 103% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Nantucket Project Academy Inc sits at the 87th percentile: it is larger than about 87% of them. Against every charity in United States with reported income it ranks in the 90th percentile, and in the 89th percentile within MA. Charities of a similar size with the same main cause include American Friends of Rabbinical College Netiv Hadaat Inc ($3.5m), Saint Patricks School Inc ($3.5m) and North Bridge Academy ($3.5m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 85% and program service revenue 15% of the total. Other salaries and wages came to $86k. At year end it held assets of $85k against liabilities of $93k, net assets of -$7,566. It reported 5 employees.