Academy of America

Analysis

Academy of America is a registered charity in United States, based in Southfield, MI. It received its IRS tax-exemption ruling in September 1988, 38 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, Academy of America reported income of $1.8m and spending of $2.4m, spending 133% of what it took in. Across the 5 years on record, from June 2019 to June 2023, income grew from $879k to $1.8m (+102%), an average of +19% a year. The sharpest change came in the year to June 2023, when income rose by 247%. Over the whole period it spent 207% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Academy of America sits at the 84th percentile: it is larger than about 84% of them. Against every charity in United States with reported income it ranks in the 85th percentile, and in the 85th percentile within MI. Charities of a similar size with the same main cause include One Fifty Parker Street School ($1.8m), Woodbury Athletic Association ($1.8m) and The Mustard Seed Thrift on Mission Inc ($1.8m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 38% and program service revenue 62% of the total. Compensation of current officers, directors and key employees was $105k (4.5% of expenses). Other salaries and wages came to $108k. At year end it held assets of $11.7m against liabilities of $2.3m, net assets of $9.4m. It reported 4 employees.

Data notes from the register: Spending has exceeded income in each of the last three reported years, so the charity has been drawing on reserves or other funds.