Progeny Academy Inc

Analysis

Progeny Academy Inc is a registered charity in United States, based in Brooklyn Ctr, MN. It received its IRS tax-exemption ruling in June 2018, 8 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, Progeny Academy Inc reported income of $1.6m and spending of $1.5m, spending 94% of its income. Across the 5 years on record, from June 2019 to June 2023, income grew from $120k to $1.6m (+1204%), an average of +90% a year. The sharpest change came in the year to June 2020, when income rose by 751%. Over the whole period it spent 100% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Progeny Academy Inc sits at the 80th percentile: it is larger than about 80% of them. Against every charity in United States with reported income it ranks in the 84th percentile, and in the 83rd percentile within MN. Charities of a similar size with the same main cause include Arkansas Construction Education Foundation ($1.6m), Seedling Foundation ($1.6m) and Clarke School Foundation Inc ($1.6m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 100% of the total. Other salaries and wages came to $346k. At year end it held assets of $669k against liabilities of $655k, net assets of $14k. It reported 13 employees.