Groves Academy

Analysis

Groves Academy is a registered charity in United States, based in St Louis Park, MN. It received its IRS tax-exemption ruling in November 1972, 54 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 August 2023, Groves Academy reported income of $32.6m and spending of $16.4m, leaving 50% of income unspent that year. Across the 5 years on record, from August 2019 to August 2023, income grew from $12.9m to $32.6m (+153%), an average of +26% a year. The sharpest change came in the year to August 2023, when income rose by 92%. Over the whole period it spent 78% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Groves Academy sits at the 97th percentile: it is larger than about 97% of them. Against every charity in United States with reported income it ranks in the 98th percentile, and in the 98th percentile within MN. Charities of a similar size with the same main cause include Faculty Associates Incorporated ($32.6m), Intrinsic Schools ($32.7m) and Kamaaina Care Inc ($32.6m).

On its Form 990 for the period ending August 2023, revenue came from contributions and grants 50% and program service revenue 43% of the total. Other salaries and wages came to $9.3m. It paid $25k in professional fundraising fees. At year end it held assets of $38.1m against liabilities of $10.3m, net assets of $27.8m. It reported 241 employees.