Broadway Academy Inc

Analysis

Broadway Academy Inc is a registered charity in United States, based in Cleveland, OH. It received its IRS tax-exemption ruling in April 2013, 13 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, Broadway Academy Inc reported income of $8.0m and spending of $8.0m, spending 100% of its income. Across the 5 years on record, from June 2019 to June 2023, income grew from $2.1m to $8.0m (+285%), an average of +40% a year. The sharpest change came in the year to June 2021, when income rose by 149%. Over the whole period it spent 94% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Broadway Academy Inc sits at the 92nd percentile: it is larger than about 92% of them. Against every charity in United States with reported income it ranks in the 94th percentile, and in the 94th percentile within OH. Charities of a similar size with the same main cause include Richard Allen Preparatory Charter School Inc ($8.0m), Big Picture Philadelphia ($8.0m) and Western Illinois Regional Council Community Action Agency ($8.0m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 100% of the total. Compensation of current officers, directors and key employees was $6,999 (0.1% of expenses). At year end it held assets of $4.0m against liabilities of $5.1m, net assets of -$1.1m.