Foundation Academy Charter School

Analysis

Foundation Academy Charter School is a registered charity in United States, based in Trenton, NJ. It received its IRS tax-exemption ruling in August 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 June 2023, Foundation Academy Charter School reported income of $23.6m and spending of $22.0m, spending 93% of its income. Across the 5 years on record, from June 2019 to June 2023, income grew from $18.3m to $23.6m (+29%), an average of +6.6% a year. Over the whole period it spent 94% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Foundation Academy Charter School sits at the 97th percentile: it is larger than about 96% of them. Against every charity in United States with reported income it ranks in the 97th percentile, and in the 98th percentile within NJ. Charities of a similar size with the same main cause include The Jemicy School Inc ($23.6m), Norwood School Inc ($23.6m) and Long Beach State Foundation ($23.6m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 94% and program service revenue 7.5% of the total. Compensation of current officers, directors and key employees was $1.8m (8.0% of expenses). Other salaries and wages came to $9.9m. At year end it held assets of $21.4m against liabilities of $11.0m, net assets of $10.4m. It reported 185 employees.