Nova Academy

Analysis

Nova Academy is a registered charity in United States, based in Santa Ana, CA. It received its IRS tax-exemption ruling in September 2006, 20 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, Nova Academy reported income of $12.7m and spending of $11.4m, spending 90% of its income. Across the 5 years on record, from June 2019 to June 2023, income grew from $10.0m to $12.7m (+26%), an average of +6.0% a year. The sharpest change came in the year to June 2023, when income rose by 17%. Over the whole period it spent 95% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Nova Academy sits at the 94th percentile: it is larger than about 94% of them. Against every charity in United States with reported income it ranks in the 96th percentile, and in the 96th percentile within CA. Charities of a similar size with the same main cause include Literacy Leadership Technology Academy ($12.7m), North Star Academy Foundation Inc ($12.7m) and Hope Montessori Academy ($12.7m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 99% of the total. Compensation of current officers, directors and key employees was $442k (3.9% of expenses). Other salaries and wages came to $4.4m. At year end it held assets of $34.3m against liabilities of $25.4m, net assets of $8.9m. It reported 87 employees.