Kore Academy Inc

Analysis

Kore Academy Inc is a registered charity in United States, based in Lexington, KY. It received its IRS tax-exemption ruling in March 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 December 2023, Kore Academy Inc reported income of $470k and spending of $550k, spending 117% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income grew from $459k to $470k (+2.2%), an average of +0.5% a year. The sharpest change came in the year to December 2021, when income rose by 22%. Over the whole period it spent 106% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Kore Academy Inc sits at the 67th percentile: it is larger than about 67% of them. Against every charity in United States with reported income it ranks in the 69th percentile, and in the 70th percentile within KY. Charities of a similar size with the same main cause include Fospe Inc ($469k), Island Montessori School ($470k) and The Reading Foundation ($469k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 4.6% and program service revenue 95% of the total. Compensation of current officers, directors and key employees was $43k (7.8% of expenses). Other salaries and wages came to $370k. At year end it held assets of $155k against liabilities of $0, net assets of $155k. It reported 25 employees.