Wasatch Academy

Analysis

Wasatch Academy is a registered charity in United States, based in Mt Pleasant, UT. It received its IRS tax-exemption ruling in October 1972, 54 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, Wasatch Academy reported income of $16.2m and spending of $17.0m, spending 105% of its income. Across the 5 years on record, from June 2019 to June 2023, income fell from $22.3m to $16.2m (-28%), an average of -7.7% a year. The sharpest change came in the year to June 2021, when income dropped by 15%. Over the whole period it spent 93% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Wasatch Academy sits at the 95th percentile: it is larger than about 95% of them. Against every charity in United States with reported income it ranks in the 97th percentile, and in the 97th percentile within UT. Charities of a similar size with the same main cause include Santa Rosa County School Readiness Coalition ($16.1m), Center for Academic Success ($16.2m) and Indiana State University Foundation Inc ($16.1m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 12% and program service revenue 86% of the total. Compensation of current officers, directors and key employees was $1.0m (6.0% of expenses). Other salaries and wages came to $5.1m. At year end it held assets of $45.2m against liabilities of $7.7m, net assets of $37.5m. It reported 215 employees.