Providence Academy

Analysis

Providence Academy is a registered charity in United States, based in Royse City, TX. It received its IRS tax-exemption ruling in November 2010, 16 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, Providence Academy reported income of $1.7m and spending of $1.3m, leaving 22% of income unspent that year. Across the 5 years on record, from December 2019 to December 2023, income grew from $432k to $1.7m (+289%), an average of +40% a year. The sharpest change came in the year to December 2021, when income rose by 54%. Over the whole period it spent 77% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Providence Academy 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 84th percentile, and in the 88th percentile within TX. Charities of a similar size with the same main cause include St Michaels Academy Inc ($1.7m), Palomar College Foundation ($1.7m) and Bismarck Area Catholic Education Foundation ($1.7m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 27% and program service revenue 73% of the total. Compensation of current officers, directors and key employees was $70k (5.3% of expenses). At year end it held assets of $1.2m against liabilities of $4,435, net assets of $1.2m. It reported 48 employees.