Imagine Akron Academy

Analysis

Imagine Akron Academy is a registered charity in United States, based in Akron, OH. It received its IRS tax-exemption ruling in July 2014, 12 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 2024, Imagine Akron Academy reported income of $380k and spending of $368k, spending 97% of its income. Across the 6 years on record, from June 2019 to June 2024, income fell from $510k to $380k (-25%), an average of -5.7% a year. The sharpest change came in the year to June 2024, when income dropped by 32%. Over the whole period it spent 81% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Imagine Akron Academy sits at the 64th percentile: it is larger than about 64% of them. Against every charity in United States with reported income it ranks in the 66th percentile, and in the 66th percentile within OH. Charities of a similar size with the same main cause include America Chinese Evangelical Seminary ($380k), Friends of Coeur Dalene Elementary ($380k) and Agape Outreach Ministries a New Jersey Nonprofit Corporation ($380k).

On its Form 990 for the period ending June 2024, revenue came from contributions and grants 100% of the total. Compensation of current officers, directors and key employees was $18k (5.0% of expenses). At year end it held assets of $126k against liabilities of $295k, net assets of -$169k.