Chance Academy

Analysis

Chance Academy is a registered charity in United States, based in Washington, DC. It received its IRS tax-exemption ruling in December 2007, 19 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 August 2023, Chance Academy reported income of $996k and spending of $1.7m, spending 168% of what it took in. Across the 5 years on record, from August 2019 to August 2023, income grew from $629k to $996k (+58%), an average of +12% a year. The sharpest change came in the year to August 2021, when income rose by 149%. Over the whole period it spent 92% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Chance Academy sits at the 76th percentile: it is larger than about 76% of them. Against every charity in United States with reported income it ranks in the 79th percentile, and in the 55th percentile within DC. Charities of a similar size with the same main cause include Islamic School of Rhode Island Inc ($996k), The Traveling School ($996k) and Jordan Glen School and Summer Camp Inc ($996k).

On its Form 990 for the period ending August 2023, revenue came from contributions and grants 109% and program service revenue 9.1% of the total. Other salaries and wages came to $1.1m. It paid $52k in professional fundraising fees. At year end it held assets of $1.2m against liabilities of $402k, net assets of $821k. It reported 15 employees.