Lifespring Academy

Analysis

Lifespring Academy is a registered charity in United States, based in Clayton, NC. It received its IRS tax-exemption ruling in October 2014, 12 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, Lifespring Academy reported income of $1.4m and spending of $1.4m, spending 99% of its income. Across the 5 years on record, from June 2019 to June 2023, income grew from $571k to $1.4m (+147%), an average of +25% a year. The sharpest change came in the year to June 2021, when income rose by 98%. Over the whole period it spent 104% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Lifespring Academy sits at the 79th percentile: it is larger than about 79% of them. Against every charity in United States with reported income it ranks in the 83rd percentile, and in the 84th percentile within NC. Charities of a similar size with the same main cause include Whatcom Community College Foundation ($1.4m), Claiborne Academy Foundation ($1.4m) and Bridge Builders Foundation Inc ($1.4m).

On its Form 990 for the period ending June 2023, revenue came from program service revenue 100% of the total. Compensation of current officers, directors and key employees was $139k (10% of expenses). Other salaries and wages came to $757k. At year end it held assets of $81k against liabilities of $225k, net assets of -$145k. It reported 39 employees.