Iron Academy

Analysis

Iron Academy is a registered charity in United States, based in Raleigh, NC. It received its IRS tax-exemption ruling in November 2012, 14 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, Iron Academy reported income of $1.4m and spending of $1.4m, spending 95% of its income. Across the 4 years on record, from June 2020 to June 2023, income grew from $1.1m to $1.4m (+37%), an average of +11% a year. The sharpest change came in the year to June 2021, when income rose by 19%. Over the whole period it spent 96% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Iron 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 Pace Preparatory Academy Inc ($1.4m), India Transformed ($1.4m) and World Institute of Pain ($1.4m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 40% and program service revenue 58% of the total. Compensation of current officers, directors and key employees was $95k (6.9% of expenses). Other salaries and wages came to $632k. At year end it held assets of $2.4m against liabilities of $2.1m, net assets of $332k. It reported 19 employees.