Washington Academy
Washington Academy maintains stable assets despite fluctuating revenues and occasional operating deficits.
EIN: 10229448 · East Machias, ME · NTEE: B25Z · Updated: 2026-03-28
| Metric | Value |
|---|---|
| Total Revenue | $8.9M |
| Total Expenses | $6.6M |
| Program Spending | 85% |
| CEO/Top Officer Pay | $9 |
| Net Assets | $9.8M |
| Transparency Score | 75/100 |
Is Washington Academy Legit?
Some Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Washington Academy directs 85% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About Washington Academy
Washington Academy (EIN: 10229448) is a nonprofit organization based in East Machias, ME, classified under NTEE code B25Z. The organization reported total revenue of $8.9M and total assets of $14.7M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Washington Academy's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Washington Academy is a mid-size nonprofit that has been operating for 79 years, with 14 years of IRS 990 filings on record (2011–2024). Revenue has grown at a compound annual rate of -0.7%.
Key Financial Metrics (2024)
From the most recent IRS 990 filing on record:
| Total Revenue | $5.9M |
| Total Expenses | $6.6M |
| Surplus / Deficit | $-720,845 |
| Total Assets | $13.6M |
| Total Liabilities | $3.8M |
| Net Assets | $9.8M |
| Operating Margin | -12.3% |
| Debt-to-Asset Ratio | 27.9% |
| Months of Reserves | 24.8 months |
Financial Health Grade: B
In 2024, Washington Academy reported a deficit of $721K with expenses exceeding revenue, holds 24.8 months of operating reserves (strong position), has a debt-to-asset ratio of 27.9% (moderate leverage).
Financial Trends
Over 14 years of filings (2011–2024), Washington Academy's revenue has declined at a compound annual growth rate (CAGR) of -0.7%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2024 | -9.6% | +1.0% | -4.3% |
| 2023 | +2.0% | +16.7% | -0.7% |
| 2022 | +4.4% | -4.3% | -5.9% |
| 2021 | -8.1% | -5.2% | +7.3% |
| 2020 | +3.9% | -1.6% | -5.4% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 2000 |
| IRS Ruling Date | 1947 |
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 Washington Academy with a Mission Score of 75 out of 100 (Good). This score reflects the organization's overall financial transparency, program spending efficiency, and governance indicators derived from IRS 990 public filings.
Spending Breakdown
- admin: 10%
- programs: 85%
- fundraising: 5%
According to IRS 990 filings, Washington Academy allocates its expenses as follows: admin: 10%, programs: 85%, fundraising: 5%. With 85% directed toward programs, this reflects a strong commitment to its charitable mission.
Key Financial Metrics (2024)
From the most recent IRS 990 filing on record:
- The organization reported a deficit of $721K, with expenses exceeding revenue.
- Debt-to-asset ratio: 27.9%.
Executive Compensation Analysis
The consistent reporting of 0% officer compensation across all available filings is highly unusual for an organization of this size with nearly $9 million in latest revenue and $14 million in assets. This suggests either that no officers are compensated, or their compensation is reported in a manner that is not immediately transparent as 'officer compensation' on the 990, which could be a red flag for transparency.
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 Washington Academy's IRS 990 filings:
- Consistent 0% officer compensation reported, which is unusual for an organization of this size and could indicate a lack of transparency in executive pay reporting.
- Operating deficit of over $700,000 in the most recent fiscal period (202406), where expenses significantly exceeded revenue.
Strengths
The following positive indicators were identified for Washington Academy:
- Stable asset base, consistently maintaining over $13 million in assets over the past decade.
- Generally consistent revenue streams, typically ranging from $6 million to $7 million annually.
- Clear programmatic alignment with its NTEE code (Secondary & High Schools).
Frequently Asked Questions about Washington Academy
Is Washington Academy a legitimate charity?
Based on AI analysis of IRS 990 filings, Washington Academy (EIN: 10229448) some concerns. Mission Score: 75/100. 2 red flags identified, 3 strengths noted.
How does Washington Academy spend its money?
Washington Academy directs 85% of its spending to programs and services. The remaining budget covers administration and fundraising costs.
Are donations to Washington Academy tax-deductible?
Washington Academy is registered as a tax-exempt nonprofit (EIN: 10229448). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
How much does the Washington Academy CEO make?
Washington Academy's highest-compensated officer earns $9 annually. The organization reported $8.9M in total revenue. Executive compensation data is disclosed in IRS 990 filings.
What percentage of Washington Academy's spending goes to programs?
Washington Academy directs 85% to programs, 5% to fundraising. This exceeds the 65% industry benchmark for efficient nonprofits.
How does Washington Academy compare to similar nonprofits?
With a transparency score of 75/100 (Good), Washington Academy is above average for NTEE category B25Z nonprofits. The score reflects financial transparency, program spending efficiency, and governance quality based on IRS 990 data.
Where is Washington Academy located?
Washington Academy is headquartered in East Machias, Maine and files with the IRS under EIN 10229448. It is classified under NTEE code B25Z.
How many years of IRS 990 filings does Washington Academy have?
Washington Academy has 14 years of IRS 990 filings on record at NonprofitSpending. This extensive filing history provides a strong basis for evaluating long-term financial trends. The most recent filing shows $8.9M in total revenue.
How does Washington Academy manage to report 0% officer compensation given its size and operational scope?
The consistent reporting of 0% officer compensation on all 990 filings is highly unusual for an organization with annual revenues approaching $9 million and assets over $14 million. This could indicate that executive compensation is either paid by a related entity, or it is categorized differently within the expense structure, which would require further detailed review of the full 990 forms to understand.
What caused the significant operating deficit in fiscal year 2024?
In fiscal year 2024, Washington Academy reported revenues of $5,856,650 against expenses of $6,577,495, resulting in a deficit of $720,845. This represents a notable increase in expenses relative to revenue compared to prior years, which often saw surpluses or smaller deficits. Further analysis of the detailed expense breakdown in the 2024 filing would be needed to identify the specific drivers of this deficit.
Filing History
IRS 990 filing history for Washington Academy showing financial trends over 14 years of public records:
Over 14 years of IRS 990 filings (2011–2024), Washington Academy's revenue has declined by 8.7%, moving from $6.4M to $5.9M. Total assets increased by 0.5% over the same period, from $13.5M to $13.6M. Total functional expenses rose by 15.7%, from $5.7M to $6.6M. In its most recent filing year (2024), Washington Academy reported a deficit of $721K, with expenses exceeding revenue. The organization holds $3.8M in liabilities against $13.6M in assets (debt-to-asset ratio: 27.9%), resulting in net assets of $9.8M.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2024 | $5.9M | $6.6M | $13.6M | $3.8M | — | View 990 |
| 2023 | $6.5M | $6.5M | $14.2M | $4.0M | — | View 990 |
| 2022 | $6.4M | $5.6M | $14.3M | $4.3M | — | View 990 |
| 2021 | $6.1M | $5.8M | $15.2M | $5.3M | — | View 990 |
| 2020 | $6.6M | $6.1M | $14.2M | $5.4M | — | — |
| 2019 | $6.4M | $6.2M | $15.0M | $6.3M | — | View 990 |
| 2018 | $6.9M | $6.7M | $14.6M | $6.1M | — | — |
| 2017 | $7.4M | $6.7M | $15.1M | $6.9M | — | View 990 |
| 2016 | $6.8M | $6.5M | $14.4M | $7.1M | — | View 990 |
| 2015 | $6.7M | $6.2M | $14.1M | $7.2M | — | View 990 |
| 2014 | $6.2M | $5.6M | $14.0M | $7.3M | — | View 990 |
| 2013 | $5.7M | $6.0M | $13.6M | $7.8M | — | View 990 |
| 2012 | $6.9M | $6.3M | $13.9M | $8.0M | — | View 990 |
| 2011 | $6.4M | $5.7M | $13.5M | $8.5M | — | View 990 |
Year-by-Year Financial Summary
- 2024: Revenue of $5.9M, expenses of $6.6M, and assets of $13.6M (revenue -9.6% year-over-year).
- 2023: Revenue of $6.5M, expenses of $6.5M, and assets of $14.2M (revenue +2.0% year-over-year).
- 2022: Revenue of $6.4M, expenses of $5.6M, and assets of $14.3M (revenue +4.4% year-over-year).
- 2021: Revenue of $6.1M, expenses of $5.8M, and assets of $15.2M (revenue -8.1% year-over-year).
- 2020: Revenue of $6.6M, expenses of $6.1M, and assets of $14.2M (revenue +3.9% year-over-year).
- 2019: Revenue of $6.4M, expenses of $6.2M, and assets of $15.0M (revenue -7.6% year-over-year).
- 2018: Revenue of $6.9M, expenses of $6.7M, and assets of $14.6M (revenue -6.8% year-over-year).
- 2017: Revenue of $7.4M, expenses of $6.7M, and assets of $15.1M (revenue +9.1% year-over-year).
- 2016: Revenue of $6.8M, expenses of $6.5M, and assets of $14.4M (revenue +1.0% year-over-year).
- 2015: Revenue of $6.7M, expenses of $6.2M, and assets of $14.1M (revenue +8.9% year-over-year).
- 2014: Revenue of $6.2M, expenses of $5.6M, and assets of $14.0M (revenue +7.5% year-over-year).
- 2013: Revenue of $5.7M, expenses of $6.0M, and assets of $13.6M (revenue -17.4% year-over-year).
- 2012: Revenue of $6.9M, expenses of $6.3M, and assets of $13.9M (revenue +8.2% year-over-year).
- 2011: Revenue of $6.4M, expenses of $5.7M, and assets of $13.5M.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Washington Academy:
Data Sources and Methodology
This transparency report for Washington Academy 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.