Washburn Academy Inc
Washburn Academy Inc shows consistent revenue growth and strong asset accumulation with no reported officer compensation.
EIN: 141919930 · Clearwater, FL · NTEE: B20 · Updated: 2026-03-28
Is Washburn Academy Inc Legit?
Some Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Washburn Academy Inc directs 90% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About Washburn Academy Inc
Washburn Academy Inc (EIN: 141919930) is a nonprofit organization based in Clearwater, FL, classified under NTEE code B20. The organization reported total revenue of $2.3M and total assets of $2.4M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Washburn Academy Inc's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Washburn Academy Inc is a mid-size nonprofit that has been operating for 21 years, with 13 years of IRS 990 filings on record (2011–2023). Revenue has grown at a compound annual rate of 10.9%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $1.9M |
| Total Expenses | $1.7M |
| Surplus / Deficit | +$229K |
| Total Assets | $1.2M |
| Total Liabilities | $184K |
| Net Assets | $1.0M |
| Operating Margin | 11.8% |
| Debt-to-Asset Ratio | 15.2% |
| Months of Reserves | 8.5 months |
Financial Health Grade: A
In 2023, Washburn Academy Inc reported a surplus of $229K with revenue exceeding expenses, holds 8.5 months of operating reserves (strong position), has a debt-to-asset ratio of 15.2% (very low leverage).
Financial Trends
Over 13 years of filings (2011–2023), Washburn Academy Inc's revenue has grown at a compound annual growth rate (CAGR) of 10.9%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | +24.8% | +2.3% | +26.2% |
| 2022 | +16.8% | +47.9% | -20.5% |
| 2021 | +27.6% | +15.2% | +4.3% |
| 2020 | -14.7% | -9.1% | +12.7% |
| 2019 | -0.2% | +1.5% | +2.2% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 2000 |
| IRS Ruling Date | 2005 |
Classification data from ProPublica Nonprofit Explorer. Additional BMF data may be available after enrichment.
AI Transparency Report
Mission Effectiveness Score
NonprofitSpending's AI analysis rates Washburn Academy Inc with a Mission Score of 92 out of 100 (Excellent). This score reflects the organization's overall financial transparency, program spending efficiency, and governance indicators derived from IRS 990 public filings.
Spending Breakdown
- admin: 7%
- programs: 90%
- fundraising: 3%
According to IRS 990 filings, Washburn Academy Inc allocates its expenses as follows: admin: 7%, programs: 90%, fundraising: 3%. With 90% directed toward programs, this reflects a strong commitment to its charitable mission.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
- The organization reported a surplus of $229K, with revenue exceeding expenses.
- Debt-to-asset ratio: 15.2%.
Executive Compensation Analysis
Washburn Academy Inc consistently reports 0% officer compensation across all available filings, indicating that its leadership may be entirely volunteer-based or compensated through non-officer roles, which is highly unusual for an organization with over $1.9 million in annual revenue.
Executive compensation data is sourced from IRS 990 filings, which require nonprofits to disclose the compensation of officers, directors, trustees, and key employees. NonprofitSpending analyzes this data relative to the organization's total revenue and sector benchmarks to assess whether executive pay is reasonable.
Red Flags
The following concerns were identified during AI analysis of Washburn Academy Inc's IRS 990 filings:
- Consistent 0% officer compensation for an organization of this size could indicate an unusual compensation structure or potential underreporting, warranting further investigation.
Strengths
The following positive indicators were identified for Washburn Academy Inc:
- Consistent revenue growth, increasing from $780,854 in 2014 to $1,947,406 in 2023.
- Strong asset accumulation, with assets growing from $825,666 in 2014 to $2,437,880 currently.
- Positive net income in most years, demonstrating sound financial management (e.g., $229,330 surplus in 2023).
- Low administrative and fundraising overhead due to 0% reported officer compensation, suggesting high program efficiency.
- Consistent IRS 990 filings over 13 periods, indicating good transparency.
Frequently Asked Questions about Washburn Academy Inc
Is Washburn Academy Inc a legitimate charity?
Based on AI analysis of IRS 990 filings, Washburn Academy Inc (EIN: 141919930) some concerns. Mission Score: 92/100. 1 red flag identified, 5 strengths noted.
How does Washburn Academy Inc spend its money?
Washburn Academy Inc directs 90% of its spending to programs and services. The remaining budget covers administration and fundraising costs.
Are donations to Washburn Academy Inc tax-deductible?
Washburn Academy Inc is registered as a tax-exempt nonprofit (EIN: 141919930). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
How does Washburn Academy Inc manage to operate with 0% reported officer compensation?
The IRS 990 filings consistently show $0 for officer compensation. This could mean that the leadership is entirely volunteer, compensated through a related organization, or paid in a manner not categorized as 'officer compensation' on the 990. Further investigation into their operational model would be beneficial.
What is the primary source of Washburn Academy Inc's revenue growth?
While the filings show consistent revenue growth from $780,854 in 2014 to $1,947,406 in 2023, the specific breakdown of revenue sources (e.g., program service revenue, contributions, grants) would require a deeper dive into the full 990 forms beyond the summary data provided.
What are the specific programs Washburn Academy Inc delivers?
The NTEE code B20 indicates 'Elementary & Secondary Education.' To understand the specific programs, one would need to review the program service accomplishments section of their full IRS 990 forms.
Filing History
IRS 990 filing history for Washburn Academy Inc showing financial trends over 13 years of public records:
Over 13 years of IRS 990 filings (2011–2023), Washburn Academy Inc's revenue has grown by 244.2%, moving from $566K to $1.9M. Total assets increased by 402.2% over the same period, from $241K to $1.2M. Total functional expenses rose by 307.9%, from $421K to $1.7M. In its most recent filing year (2023), Washburn Academy Inc reported a surplus of $229K, with revenue exceeding expenses. The organization holds $184K in liabilities against $1.2M in assets (debt-to-asset ratio: 15.2%), resulting in net assets of $1.0M.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $1.9M | $1.7M | $1.2M | $184K | — | View 990 |
| 2022 | $1.6M | $1.7M | $961K | $161K | — | View 990 |
| 2021 | $1.3M | $1.1M | $1.2M | $289K | — | View 990 |
| 2020 | $1.0M | $986K | $1.2M | $440K | — | — |
| 2019 | $1.2M | $1.1M | $1.0M | $360K | — | View 990 |
| 2018 | $1.2M | $1.1M | $1.0M | $393K | — | View 990 |
| 2017 | $1.1M | $973K | $922K | $425K | — | — |
| 2016 | $850K | $720K | $872K | $476K | — | View 990 |
| 2015 | $774K | $682K | $789K | $481K | — | View 990 |
| 2014 | $781K | $665K | $826K | $535K | — | View 990 |
| 2013 | $668K | $641K | $825K | $571K | — | View 990 |
| 2012 | $572K | $501K | $286K | $0 | — | View 990 |
| 2011 | $566K | $421K | $241K | $0 | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $1.9M, expenses of $1.7M, and assets of $1.2M (revenue +24.8% year-over-year).
- 2022: Revenue of $1.6M, expenses of $1.7M, and assets of $961K (revenue +16.8% year-over-year).
- 2021: Revenue of $1.3M, expenses of $1.1M, and assets of $1.2M (revenue +27.6% year-over-year).
- 2020: Revenue of $1.0M, expenses of $986K, and assets of $1.2M (revenue -14.7% year-over-year).
- 2019: Revenue of $1.2M, expenses of $1.1M, and assets of $1.0M (revenue -0.2% year-over-year).
- 2018: Revenue of $1.2M, expenses of $1.1M, and assets of $1.0M (revenue +10.6% year-over-year).
- 2017: Revenue of $1.1M, expenses of $973K, and assets of $922K (revenue +31.0% year-over-year).
- 2016: Revenue of $850K, expenses of $720K, and assets of $872K (revenue +9.8% year-over-year).
- 2015: Revenue of $774K, expenses of $682K, and assets of $789K (revenue -0.9% year-over-year).
- 2014: Revenue of $781K, expenses of $665K, and assets of $826K (revenue +16.8% year-over-year).
- 2013: Revenue of $668K, expenses of $641K, and assets of $825K (revenue +16.8% year-over-year).
- 2012: Revenue of $572K, expenses of $501K, and assets of $286K (revenue +1.2% year-over-year).
- 2011: Revenue of $566K, expenses of $421K, and assets of $241K.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Washburn Academy Inc:
Data Sources and Methodology
This transparency report for Washburn Academy Inc is generated by NonprofitSpending's AI analysis engine. The data is sourced from publicly available IRS 990 filings accessed through the ProPublica Nonprofit Explorer API and IRS electronic filing records. The Mission Score, spending breakdown, and other analytical insights are produced by artificial intelligence and should be used as one of multiple factors when evaluating a nonprofit organization.
IRS 990 forms are annual information returns that most tax-exempt organizations must file with the IRS. These forms provide detailed financial information including revenue, expenses, assets, liabilities, and compensation of officers. NonprofitSpending processes this data to provide accessible transparency reports for donors, researchers, and the general public.
Disclaimer
AI-generated analysis based on IRS public records. Not financial or legal advice. Verify information directly with the organization.