Norwich Free Academy
| Fiscal year | Revenue | Expenses | Net | Reserve mo. | Staff % |
|---|---|---|---|---|---|
| 2021 | 42,617,337 | 39,532,672 | 3,084,665 | 7.0 | 59% |
| 2022 | 48,469,342 | 39,733,703 | 8,735,639 | 9.7 | 60% |
| 2023 | 46,787,226 | 43,368,650 | 3,418,576 | 11.1 | 56% |
In its most recent public year (2023), this organization brought in $3,418,576 more than it spent. Its reserves stood at about 11.1 months of spending, up from 7 in 2021. Staff pay was 56% of spending. $2,834,686 of its net assets are donor-restricted.
Reserve months = net assets ÷ average monthly spending; net assets count everything the organization owns beyond its debts — buildings and donor-restricted funds included, not just cash. Staff pay = salaries, wages, and officer compensation; it excludes benefits and payroll taxes. The IRS releases this data years after the fact — this organization's newest public year is 2023. Years refer to the calendar year in which the organization's fiscal year ended. Short-form filers do not publicly report donor-restricted balances or staffing costs. Source filings
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