Deep Waters Academy

Analysis

Deep Waters Academy is a registered charity in United States, based in Houston, TX. It received its IRS tax-exemption ruling in April 2022, 4 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, Deep Waters Academy reported income of $233k and spending of $166k, leaving 29% of income unspent that year. Across the 2 years on record, from June 2022 to June 2023, income grew from $106k to $233k (+119%), an average of +119% a year. The sharpest change came in the year to June 2023, when income rose by 119%. Over the whole period it spent 73% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Deep Waters Academy sits at the 57th percentile: it is larger than about 57% of them. Against every charity in United States with reported income it ranks in the 57th percentile, and in the 61st percentile within TX. Charities of a similar size with the same main cause include Ashmont Nursery School Inc ($233k), PTA New York Congress ($233k) and Thrive Network ($233k).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 37% and program service revenue 63% of the total. Compensation of current officers, directors and key employees was $38k (23% of expenses). Other salaries and wages came to $77k. At year end it held assets of $104k against liabilities of $2,794, net assets of $101k. It reported 14 employees.