Synergy Academies

Analysis

Synergy Academies is a registered charity in United States, based in Los Angeles, CA. It received its IRS tax-exemption ruling in August 2005, 21 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, Synergy Academies reported income of $25.8m and spending of $24.0m, spending 93% of its income. Across the 5 years on record, from June 2019 to June 2023, income grew from $18.4m to $25.8m (+40%), an average of +8.8% a year. The sharpest change came in the year to June 2023, when income rose by 19%. 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, Synergy Academies sits at the 97th percentile: it is larger than about 97% of them. Against every charity in United States with reported income it ranks in the 98th percentile, and in the 98th percentile within CA. Charities of a similar size with the same main cause include Capstone Classical Academy ($25.8m), Catholic Education Arizona ($25.8m) and Executive Education Academy Charter School ($25.8m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 97% of the total. Compensation of current officers, directors and key employees was $386k (1.6% of expenses). Other salaries and wages came to $11.5m. At year end it held assets of $28.6m against liabilities of $7.0m, net assets of $21.6m. It reported 221 employees.