Morningside Academy

Analysis

Morningside Academy is a registered charity in United States, based in Seattle, WA. It received its IRS tax-exemption ruling in August 1983, 43 years ago. 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, Morningside Academy reported income of $2.8m and spending of $3.6m, spending 126% of what it took in. Across the 5 years on record, from August 2019 to August 2023, income grew from $2.6m to $2.8m (+9.3%), an average of +2.2% a year. The sharpest change came in the year to August 2022, when income rose by 113%. Over the whole period it spent 83% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Morningside Academy sits at the 88th percentile: it is larger than about 88% of them. Against every charity in United States with reported income it ranks in the 89th percentile, and in the 89th percentile within WA. Charities of a similar size with the same main cause include Dads Club Aquatic Center Inc ($2.8m), North Bay Fire ($2.8m) and Visiting Nurse Association of Franklin ($2.8m).

On its Form 990 for the period ending August 2023, revenue came from contributions and grants 5.6% and program service revenue 91% of the total. Compensation of current officers, directors and key employees was $518k (14% of expenses). Other salaries and wages came to $1.3m. At year end it held assets of $7.8m against liabilities of $4.5m, net assets of $3.3m. It reported 42 employees.