Hope Academy of Charlotte

Analysis

Hope Academy of Charlotte is a registered charity in United States, based in Concord, NC. It received its IRS tax-exemption ruling in December 2011, 15 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 2024, Hope Academy of Charlotte reported income of $2.4m and spending of $2.5m, spending 104% of its income. Across the 5 years on record, from June 2020 to June 2024, income grew from $1.2m to $2.4m (+90%), an average of +17% a year. The sharpest change came in the year to June 2022, when income rose by 58%. Over the whole period it spent 75% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Hope Academy of Charlotte sits at the 83rd percentile: it is larger than about 83% of them. Against every charity in United States with reported income it ranks in the 87th percentile, and in the 88th percentile within NC. Charities of a similar size with the same main cause include CMCH Elementary Inc ($2.4m), Rochester Beacon Academy ($2.4m) and Nightingale Montessori Inc ($2.4m).

On its Form 990 for the period ending June 2024, revenue came from contributions and grants 5.6% and program service revenue 79% of the total. Compensation of current officers, directors and key employees was $91k (3.7% of expenses). Other salaries and wages came to $1.0m. At year end it held assets of $5.1m against liabilities of $1.6m, net assets of $3.4m. It reported 57 employees.