Oak City Academy

Analysis

Oak City Academy is a registered charity in United States, based in Garner, NC. It received its IRS tax-exemption ruling in November 2010, 16 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, Oak City Academy reported income of $1.4m and spending of $1.3m, spending 94% of its income. Across the 4 years on record, from June 2020 to June 2023, income grew from $1.3m to $1.4m (+7.6%), an average of +2.5% a year. Over the whole period it spent 80% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Oak City Academy 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 84th percentile within NC. Charities of a similar size with the same main cause include United Association Scholarship TR ($1.4m), Liberty Christian School Inc ($1.4m) and Cliff Drive Care Center Inc ($1.4m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 1.8% and program service revenue 98% of the total. Compensation of current officers, directors and key employees was $87k (6.5% of expenses). Other salaries and wages came to $791k. At year end it held assets of $2.9m against liabilities of $1.6m, net assets of $1.3m. It reported 53 employees.