Manara Academy Inc

Analysis

Manara Academy Inc is a registered charity in United States, based in Irving, TX. It received its IRS tax-exemption ruling in January 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, Manara Academy Inc reported income of $6.6m and spending of $6.6m, spending 100% of its income. Across the 5 years on record, from June 2019 to June 2023, income fell from $8.7m to $6.6m (-24%), an average of -6.7% a year. The sharpest change came in the year to June 2023, when income dropped by 29%. 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, Manara Academy Inc sits at the 91st percentile: it is larger than about 91% of them. Against every charity in United States with reported income it ranks in the 93rd percentile, and in the 95th percentile within TX. Charities of a similar size with the same main cause include Strategic Ohio Council for Higher Education ($6.6m), University of Florida Investment Corporation ($6.6m) and Montessori School of Northern Virginia Inc ($6.6m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 99% and program service revenue 0.3% of the total. Compensation of current officers, directors and key employees was $130k (2.0% of expenses). Other salaries and wages came to $3.0m. At year end it held assets of $6.4m against liabilities of $1.8m, net assets of $4.5m. It reported 63 employees.