Temple Academy

Analysis

Temple Academy is a registered charity in United States, based in Waterville, ME. It received its IRS tax-exemption ruling in June 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 August 2023, Temple Academy reported income of $1.7m and spending of $1.6m, spending 95% of its income. Across the 2 years on record, from August 2021 to August 2023, income grew from $175k to $1.7m (+854%), an average of +854% a year. The sharpest change came in the year to August 2023, when income rose by 854%. Over the whole period it spent 107% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Temple 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 Minnesota Computers for Schools ($1.7m), Architectural Glass and Metal Certification Council ($1.7m) and Libraries Without Borders ($1.7m).

On its Form 990 for the period ending August 2023, revenue came from contributions and grants 10.0% and program service revenue 82% of the total. Compensation of current officers, directors and key employees was $101k (6.4% of expenses). Other salaries and wages came to $1.0m. At year end it held assets of $652k against liabilities of $938k, net assets of -$287k. It reported 53 employees.