Multicultural Academy Charter School

Analysis

Multicultural Academy Charter School is a registered charity in United States, based in Philadelphia, PA. It received its IRS tax-exemption ruling in December 1998, 28 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, Multicultural Academy Charter School reported income of $4.5m and spending of $4.5m, spending 100% of its income. Across the 5 years on record, from June 2019 to June 2023, income grew from $3.4m to $4.5m (+30%), an average of +6.7% a year. The sharpest change came in the year to June 2021, when income rose by 18%. Over the whole period it spent 91% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Multicultural Academy Charter School sits at the 88th percentile: it is larger than about 88% of them. Against every charity in United States with reported income it ranks in the 91st percentile, and in the 90th percentile within PA. Charities of a similar size with the same main cause include Citadel Brigadier Foundation Inc ($4.5m), Northwest Ohio Classical Academy ($4.5m) and Fellowship Academy ($4.5m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 16% and program service revenue 83% of the total. Compensation of current officers, directors and key employees was $264k (5.9% of expenses). Other salaries and wages came to $1.8m. At year end it held assets of $7.1m against liabilities of $7.1m, net assets of $11k. It reported 32 employees.