Bright Star Academy Inc

Analysis

Bright Star Academy Inc is a registered charity in United States, based in Oceanside, NY. It received its IRS tax-exemption ruling in August 2013, 13 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 December 2023, Bright Star Academy Inc reported income of $1.8m and spending of $1.9m, spending 105% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income grew from $1.1m to $1.8m (+67%), an average of +14% a year. The sharpest change came in the year to December 2021, when income rose by 56%. Over the whole period it spent 95% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Bright Star Academy Inc sits at the 81st percentile: it is larger than about 81% of them. Against every charity in United States with reported income it ranks in the 85th percentile, and in the 81st percentile within NY. Charities of a similar size with the same main cause include Hometech Charter School Inc ($1.8m), Martin Library Association ($1.8m) and Literacy Network Inc ($1.8m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 6.7% and program service revenue 93% of the total. Compensation of current officers, directors and key employees was $319k (17% of expenses). Other salaries and wages came to $1.0m. At year end it held assets of $739k against liabilities of $17k, net assets of $722k. It reported 48 employees.