Southwestern Academy

Analysis

Southwestern Academy is a registered charity in United States, based in San Marino, CA. It received its IRS tax-exemption ruling in September 1963, 63 years ago. Its declared purposes cover unknown, which this site groups under other charitable purposes. 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, Southwestern Academy reported income of $3.7m and spending of $4.0m, spending 110% of what it took in. Across the 5 years on record, from August 2019 to August 2023, income fell from $9.2m to $3.7m (-60%), an average of -21% a year. The sharpest change came in the year to August 2020, when income dropped by 52%. Over the whole period it spent 93% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Southwestern Academy sits at the 90th percentile: it is larger than about 90% of them. Against every charity in United States with reported income it ranks in the 90th percentile, and in the 91st percentile within CA. Charities of a similar size with the same main cause include Queensborough Community College Auxiliary Enterprise Assoc Inc ($3.7m), Farmhouse Foundation ($3.7m) and Scranton Public Library Albright Memorial Building ($3.7m).

On its Form 990 for the period ending August 2023, revenue came from contributions and grants 3.8% and program service revenue 83% of the total. Compensation of current officers, directors and key employees was $168k (4.2% of expenses). Other salaries and wages came to $1.7m. At year end it held assets of $22.4m against liabilities of $3.8m, net assets of $18.5m. It reported 47 employees.

Data notes from the register: Spending has exceeded income in each of the last three reported years, so the charity has been drawing on reserves or other funds.