The Principled Academy Inc

Analysis

The Principled Academy Inc is a registered charity in United States, based in Berkeley, CA. It received its IRS tax-exemption ruling in September 1973, 53 years ago. The IRS classifies it as a publicly supported organisation (gross receipts test) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending June 2023, The Principled Academy Inc reported income of $158k and spending of $391k, spending 248% of what it took in. Across the 5 years on record, from June 2019 to June 2023, income fell from $1.0m to $158k (-85%), an average of -38% a year. The sharpest change came in the year to June 2023, when income dropped by 87%. Over the whole period it spent 104% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, The Principled Academy Inc sits at the 47th percentile: it is larger than about 47% of them. Against every charity in United States with reported income it ranks in the 48th percentile, and in the 50th percentile within CA. Charities of a similar size with the same main cause include Big Brothers-Big Sisters of the Greater Sacramento Area Inc ($158k), Little People of America Inc ($158k) and Niles Frontliners Inc ($158k).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 17% and program service revenue 93% of the total. Compensation of current officers, directors and key employees was $75k (19% of expenses). Other salaries and wages came to $180k. At year end it held assets of $687k against liabilities of $3,619, net assets of $683k. It reported 54 employees.

Data notes from the register: Spending has exceeded income in each of the last three reported years, so the charity has been drawing on reserves or other funds.