Atlantic Academy

Analysis

Atlantic Academy is a registered charity in United States, based in Rockport, ME. It received its IRS tax-exemption ruling in August 2019, 7 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 June 2023, Atlantic Academy reported income of $1.7m and spending of $1.6m, spending 94% of its income. Across the 5 years on record, from June 2019 to June 2023, income grew from $780k to $1.7m (+113%), an average of +21% a year. The sharpest change came in the year to June 2021, when income rose by 59%. Over the whole period it spent 97% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Atlantic Academy sits at the 81st percentile: it is larger than about 80% of them. Against every charity in United States with reported income it ranks in the 84th percentile, and in the 83rd percentile within ME. Charities of a similar size with the same main cause include Foothill High School Super Boosters Club ($1.7m), Oregon Business Council Charitable Institute ($1.7m) and South Coast Montessori ($1.7m).

On its Form 990 for the period ending June 2023, revenue came from program service revenue 100% of the total. Compensation of current officers, directors and key employees was $121k (7.7% of expenses). Other salaries and wages came to $918k. At year end it held assets of $137k against liabilities of $28k, net assets of $109k. It reported 30 employees.