Horizon Science Academy of Lorain

Analysis

Horizon Science Academy of Lorain is a registered charity in United States, based in Lorain, OH. It received its IRS tax-exemption ruling in February 2011, 15 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, Horizon Science Academy of Lorain reported income of $14.6m and spending of $12.0m, spending 82% of its income. Across the 5 years on record, from June 2019 to June 2023, income grew from $7.5m to $14.6m (+96%), an average of +18% a year. The sharpest change came in the year to June 2021, when income rose by 47%. Over the whole period it spent 83% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Horizon Science Academy of Lorain 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 96th percentile, and in the 97th percentile within OH. Charities of a similar size with the same main cause include Olivet University ($14.6m), Chime Institute ($14.6m) and Asheville Christian Academy Inc ($14.6m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 99% and program service revenue 0.7% of the total. Compensation of current officers, directors and key employees was $94k (0.8% of expenses). Other salaries and wages came to $5.5m. At year end it held assets of $15.9m against liabilities of $10.6m, net assets of $5.3m. It reported 112 employees.