Norfolk Academy
1585 Wesleyan Dr, Norfolk, VA · IRS data through FY2025
Revenue, expenses and net assets
Revenue Expenses Net assets
| Tax year | Revenue | Expenses | Net assets |
|---|---|---|---|
| FY2025 | $35,906,293 | $40,304,363 | $155,855,750 |
| FY2024 | $36,529,507 | $39,878,940 | $150,981,957 |
| FY2023 | $33,112,865 | $37,141,903 | $148,956,388 |
| FY2022 | $31,774,205 | $35,199,350 | $150,084,918 |
| FY2021 | $29,402,812 | $34,445,206 | $157,117,555 |
| FY2020 | $29,484,040 | $31,826,486 | $128,708,642 |
| FY2019 | $32,063,367 | $34,187,902 | $132,493,643 |
| FY2018 | $35,461,413 | $31,534,161 | $132,288,853 |
| FY2017 | $36,318,833 | $30,492,017 | $121,267,317 |
| FY2016 | $39,307,062 | $29,072,890 | $107,090,454 |
| FY2015 | $41,989,329 | $28,315,371 | $99,855,889 |
| FY2014 | $27,799,842 | $28,484,043 | $82,840,566 |
| FY2013 | $26,193,100 | $26,768,718 | $75,541,028 |
| FY2012 | $27,297,585 | $26,020,820 | $70,999,129 |
Form 990 filings
The returns filed by Norfolk Academy (EIN 54-0551901), including Form 990 PDFs and e-file data by year, are available in ProPublica's Nonprofit Explorer. The figures on this page come from IRS data files built from those returns.
Where the revenue came from
| Source | Amount | % of revenue |
|---|---|---|
| Contributions & grants | $3,815,621 | 11% |
| Program service revenue | $29,065,402 | 81% |
| Other revenue | $3,025,270 | 8% |
Where the money was spent
| Category | Amount | % of expenses |
|---|---|---|
| Program services | $32,974,957 | 82% |
| Management & general | $5,842,474 | 14% |
| Fundraising | $1,486,932 | 4% |
What the numbers show
- Program service revenue made up 81% of total revenue in FY2025.
- Program services accounted for 82% of functional expenses, management & general 14%, and fundraising 4%.
- 82% of functional expenses went to program services in FY2025. That is higher than 35.3% of 136 Education organizations in VA.
- Net assets covered about 46.4 months of expenses at the end of the reporting year. That puts it in the 72nd percentile among 1604 Education organizations in VA.
- Total revenue was higher than 96.7% of 1641 Education organizations in VA.
- Total revenue rose from $27,297,585 in FY2012 to $35,906,293 in FY2025. Revenue increased in 5 and decreased in 8 of 13 year-over-year comparisons.
- Expenses exceeded revenue in 9 of 14 reported years (FY2013, FY2014, FY2019, FY2020, FY2021, FY2022, FY2023, FY2024, FY2025).
- The highest revenue on record here is $41,989,329 in FY2015.
- Net assets grew from $70,999,129 to $155,855,750 between FY2012 and FY2025.
- Listed in the IRS Publication 78 data as eligible to receive tax-deductible contributions (public charity).
Figures compared against other organizations of the same NTEE program area in the same state. See the methodology page for how these are calculated and the guide to reading nonprofit financials for their limits.
About this organization
NORFOLK ACADEMY SEEKS TO OFFER A COORDINATED PROGRAM FOR STUDENTS, BUILDING AND EXPANDING ON KNOWLEDGE AND EXPERIENCE FROM GRADES ONE THROUGH TWELVE.
IRS status
| Ruling year | 1946 |
| Subsection | 501(c)(3) |
| Classification | Public charity |
| Program area (NTEE) | B200 — Education (in VA) |
| Donations | Listed in the IRS Publication 78 data as eligible to receive tax-deductible contributions (public charity). |
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Source: Internal Revenue Service — Exempt Organizations Business Master File (downloaded November 4, 2026), Statistics of Income extracts, Form 990 e-file data, Publication 78 and the Automatic Revocation list. Figures are as reported by the organization; IRS processing may adjust them. This is not a charity rating and not tax advice. Confirm deductibility in IRS Tax Exempt Organization Search.
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