Socrates Academy Foundation Inc

Analysis

Socrates Academy Foundation Inc is a registered charity in United States, based in Matthews, NC. It received its IRS tax-exemption ruling in February 2009, 17 years ago. Its declared purposes cover education, which this site groups under education and training. The IRS classifies it as a supporting organisation (type ii) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending June 2023, Socrates Academy Foundation Inc reported income of $552k and spending of $895k, spending 162% of what it took in. Across the 5 years on record, from June 2019 to June 2023, income fell from $810k to $552k (-32%), an average of -9.1% a year. The sharpest change came in the year to June 2022, when income dropped by 28%. Over the whole period it spent 106% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Socrates Academy Foundation Inc sits at the 69th percentile: it is larger than about 69% of them. Against every charity in United States with reported income it ranks in the 72nd percentile, and in the 71st percentile within NC. Charities of a similar size with the same main cause include Greater Ozarks Cooperating School Districts ($552k), Wichita Cancer Foundation ($552k) and Economic Growth Business Incubator ($552k).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 1.7% and program service revenue 98% of the total. At year end it held assets of $16.6m against liabilities of $12.6m, net assets of $3.9m.