Family Life Academy Charter School

Analysis

Family Life Academy Charter School is a registered charity in United States, based in Bronx, NY. It received its IRS tax-exemption ruling in March 2002, 24 years ago. Its declared purposes cover education, which this site groups under education and training. 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 June 2023, Family Life Academy Charter School reported income of $43.8m and spending of $36.5m, spending 83% of its income. Across the 5 years on record, from June 2019 to June 2023, income grew from $23.3m to $43.8m (+88%), an average of +17% a year. The sharpest change came in the year to June 2020, when income rose by 33%. Over the whole period it spent 86% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Family Life Academy Charter School sits at the 98th percentile: it is larger than about 98% of them. Against every charity in United States with reported income it ranks in the 99th percentile, and in the 98th percentile within NY. Charities of a similar size with the same main cause include Lafayette Charter Foundation Inc ($43.7m), Robert F Kennedy Community Alliance ($43.8m) and Academir Charter Schools Inc ($43.7m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 32% and program service revenue 66% of the total. Compensation of current officers, directors and key employees was $758k (2.1% of expenses). Other salaries and wages came to $18.4m. At year end it held assets of $121.4m against liabilities of $94.7m, net assets of $26.7m. It reported 364 employees.