Best Academy Inc

Analysis

Best Academy Inc is a registered charity in United States, based in Minneapolis, MN. It received its IRS tax-exemption ruling in April 2009, 17 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, Best Academy Inc reported income of $16.7m and spending of $15.2m, spending 91% of its income. Across the 5 years on record, from June 2019 to June 2023, income grew from $12.7m to $16.7m (+31%), an average of +7.0% a year. The sharpest change came in the year to June 2022, when income rose by 32%. Over the whole period it spent 87% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Best Academy Inc sits at the 95th percentile: it is larger than about 95% of them. Against every charity in United States with reported income it ranks in the 97th percentile, and in the 97th percentile within MN. Charities of a similar size with the same main cause include Higher Learning Commission ($16.7m), Lincoln Leadership Academy Charter School Inc ($16.7m) and Trinity Episcopal School Inc ($16.7m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 100% and program service revenue 0.0% of the total. Compensation of current officers, directors and key employees was $920k (6.1% of expenses). Other salaries and wages came to $6.6m. At year end it held assets of $15.2m against liabilities of $20.1m, net assets of -$4.9m. It reported 174 employees.