Cologne Academy

Analysis

Cologne Academy is a registered charity in United States, based in Cologne, MN. It received its IRS tax-exemption ruling in April 2009, 17 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, Cologne Academy reported income of $10.6m and spending of $10.3m, spending 98% of its income. Across the 5 years on record, from June 2019 to June 2023, income grew from $8.6m to $10.6m (+22%), an average of +5.1% a year. 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, Cologne 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 95th percentile, and in the 95th percentile within MN. Charities of a similar size with the same main cause include East Orange Community Charter School Inc ($10.6m), Mastery Learning Institute Abn Arthur Academy ($10.6m) and Aquinas Institute of Rochester ($10.5m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 93% and program service revenue 5.6% of the total. Compensation of current officers, directors and key employees was $327k (3.2% of expenses). Other salaries and wages came to $5.0m. At year end it held assets of $8.6m against liabilities of $8.2m, net assets of $364k. It reported 136 employees.