Memphis Business Academy

Analysis

Memphis Business Academy is a registered charity in United States, based in Memphis, TN. It received its IRS tax-exemption ruling in February 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, Memphis Business Academy reported income of $25.4m and spending of $23.5m, spending 92% of its income. Across the 5 years on record, from June 2019 to June 2023, income grew from $16.7m to $25.4m (+52%), an average of +11% a year. The sharpest change came in the year to June 2022, when income rose by 15%. 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, Memphis Business Academy 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 TN. Charities of a similar size with the same main cause include Kohelet Yeshiva High School Inc ($25.4m), Spartanburg Methodist College ($25.5m) and Education Foundation Scholarship Endowment Trust ($25.4m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 95% and program service revenue 2.9% of the total. Compensation of current officers, directors and key employees was $279k (1.2% of expenses). Other salaries and wages came to $14.3m. At year end it held assets of $39.4m against liabilities of $17.0m, net assets of $22.4m. It reported 297 employees.