Friends of Foundation Academy Inc

Analysis

Friends of Foundation Academy Inc is a registered charity in United States, based in Trenton, NJ. It received its IRS tax-exemption ruling in April 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, Friends of Foundation Academy Inc reported income of $1.5m and spending of $1.1m, leaving 26% of income unspent that year. Across the 5 years on record, from June 2019 to June 2023, income grew from $553k to $1.5m (+163%), an average of +27% a year. The sharpest change came in the year to June 2020, when income rose by 130%. Over the whole period it spent 64% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Friends of Foundation Academy Inc sits at the 79th percentile: it is larger than about 79% of them. Against every charity in United States with reported income it ranks in the 83rd percentile, and in the 85th percentile within NJ. Charities of a similar size with the same main cause include The Hub of McDowell Inc ($1.5m), Open Data Watch ($1.5m) and St Stephens Episcopal School ($1.5m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 42% and program service revenue 54% of the total. At year end it held assets of $16.8m against liabilities of $14.0m, net assets of $2.8m.