Biblical Foundations Academy

Analysis

Biblical Foundations Academy is a registered charity in United States, based in Charlotte, NC. It received its IRS tax-exemption ruling in April 1997, 29 years ago. Its declared purposes cover religion-related, which this site groups under religion. The IRS classifies it as a publicly supported organisation (donations from the general public) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, Biblical Foundations Academy reported income of $343k and spending of $316k, spending 92% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $216k to $343k (+59%), an average of +12% a year. The sharpest change came in the year to December 2020, when income rose by 43%. Over the whole period it spent 84% of the income it received.

Among 31,138 United States charities whose main cause is religion and that reported income, Biblical Foundations Academy sits at the 77th percentile: it is larger than about 77% of them. Against every charity in United States with reported income it ranks in the 64th percentile, and in the 63rd percentile within NC. Charities of a similar size with the same main cause include Grand Staff Ministries Inc ($343k), Go Sephardic Inc ($343k) and Baltimore Antioch Leadership Movement Inc ($343k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 87% and program service revenue 11% of the total. Compensation of current officers, directors and key employees was $136k (43% of expenses). Other salaries and wages came to $25k. At year end it held assets of $461k against liabilities of $1,054, net assets of $460k. It reported 2 employees.