Classical Academy

Analysis

Classical Academy is a registered charity in United States, based in Colorado SPGS, CO. It received its IRS tax-exemption ruling in February 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 June 2023, Classical Academy reported income of $38.2m and spending of $36.9m, spending 97% of its income. Across the 5 years on record, from June 2019 to June 2023, income grew from $35.6m to $38.2m (+7.3%), an average of +1.8% a year. The sharpest change came in the year to June 2021, when income rose by 16%. Over the whole period it spent 90% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Classical Academy sits at the 98th percentile: it is larger than about 98% of them. Against every charity in United States with reported income it ranks in the 98th percentile, and in the 99th percentile within CO. Charities of a similar size with the same main cause include California State University Fresno Association Inc ($38.2m), King University ($38.3m) and Tennessee Wesleyan University ($38.2m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 9.5% and program service revenue 88% of the total. Compensation of current officers, directors and key employees was $1.1m (3.0% of expenses). Other salaries and wages came to $19.4m. At year end it held assets of $94.5m against liabilities of $94.5m, net assets of $31k. It reported 704 employees.