Hebrew Academy of Cleveland

Analysis

Hebrew Academy of Cleveland is a registered charity in United States, based in Cleveland HTS, OH. It received its IRS tax-exemption ruling in February 1978, 48 years ago. 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, Hebrew Academy of Cleveland reported income of $33.5m and spending of $28.4m, spending 85% of its income. Across the 5 years on record, from June 2019 to June 2023, income grew from $24.3m to $33.5m (+38%), an average of +8.3% a year. The sharpest change came in the year to June 2020, when income rose by 58%. Over the whole period it spent 76% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Hebrew Academy of Cleveland sits at the 99th percentile: it is larger than about 98% of them. Against every charity in United States with reported income it ranks in the 98th percentile, and in the 98th percentile within OH. Charities of a similar size with the same main cause include San Diego County Tobacco Securitization Corporation ($33.4m), Chadron Community Hospital Corp ($33.5m) and CLC Administrative Services Inc ($33.4m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 37% and program service revenue 61% of the total. Other salaries and wages came to $11.1m. At year end it held assets of $75.6m against liabilities of $12.9m, net assets of $62.7m. It reported 577 employees.