Foundation Academy Incorporated

Analysis

Foundation Academy Incorporated is a registered charity in United States, based in Mansfield, OH. It received its IRS tax-exemption ruling in May 2010, 16 years ago. Its declared purposes cover education, which this site groups under education and training. 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, Foundation Academy Incorporated reported income of $7.1m and spending of $5.6m, leaving 22% of income unspent that year. Across the 5 years on record, from June 2019 to June 2023, income grew from $3.9m to $7.1m (+82%), an average of +16% a year. The sharpest change came in the year to June 2020, when income rose by 34%. Over the whole period it spent 75% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Foundation Academy Incorporated 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 94th percentile, and in the 94th percentile within OH. Charities of a similar size with the same main cause include Education Freedom Alabama ($7.1m), Family Star Inc ($7.1m) and The Luzerne Foundation ($7.1m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 100% of the total. Other salaries and wages came to $2.5m. At year end it held assets of $12.3m against liabilities of $5.3m, net assets of $7.0m.