Lead Academy

Analysis

Lead Academy is a registered charity in United States, based in Greenville, SC. It received its IRS tax-exemption ruling in September 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, Lead Academy reported income of $5.5m and spending of $5.6m, spending 101% of its income. Across the 5 years on record, from June 2019 to June 2023, income grew from $4.6m to $5.5m (+20%), an average of +4.6% a year. The sharpest change came in the year to June 2023, when income rose by 21%. Over the whole period it spent 100% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Lead Academy sits at the 90th percentile: it is larger than about 90% of them. Against every charity in United States with reported income it ranks in the 93rd percentile, and in the 95th percentile within SC. Charities of a similar size with the same main cause include De LA Salle Academy ($5.5m), Yi Hwang Academy Incorporated ($5.5m) and National Education Opportunity Network Inc ($5.5m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 96% and program service revenue 2.7% of the total. Other salaries and wages came to $2.3m. At year end it held assets of $17.3m against liabilities of $16.1m, net assets of $1.2m. It reported 81 employees.

Data notes from the register: Spending has exceeded income in each of the last three reported years, so the charity has been drawing on reserves or other funds.