Providence Academy

Analysis

Providence Academy is a registered charity in United States, based in Plymouth, MN. It received its IRS tax-exemption ruling in August 1998, 28 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, Providence Academy reported income of $27.3m and spending of $21.7m, leaving 21% of income unspent that year. Across the 5 years on record, from June 2019 to June 2023, income grew from $17.8m to $27.3m (+53%), an average of +11% a year. The sharpest change came in the year to June 2023, when income rose by 31%. Over the whole period it spent 91% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Providence 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 Miami University Foundation Inc ($27.3m), Scholarships for Kids Inc ($27.3m) and Cape Henry Collegiate School Inc ($27.2m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 31% and program service revenue 59% of the total. Compensation of current officers, directors and key employees was $512k (2.4% of expenses). Other salaries and wages came to $8.7m. At year end it held assets of $102.1m against liabilities of $4.5m, net assets of $97.6m. It reported 214 employees.