Steam Academy of Cleveland

Analysis

Steam Academy of Cleveland is a registered charity in United States, based in Warrensville Heights, OH. It received its IRS tax-exemption ruling in July 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, Steam Academy of Cleveland reported income of $3.6m and spending of $3.4m, spending 94% of its income. Across the 5 years on record, from June 2019 to June 2023, income grew from $2.0m to $3.6m (+84%), an average of +16% a year. The sharpest change came in the year to June 2021, when income rose by 31%. Over the whole period it spent 97% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Steam Academy of Cleveland sits at the 87th percentile: it is larger than about 87% of them. Against every charity in United States with reported income it ranks in the 90th percentile, and in the 90th percentile within OH. Charities of a similar size with the same main cause include Central Cleveland Drop Back in ($3.6m), Edu Futuro ($3.6m) and Sonoma State University Foundation ($3.6m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 100% of the total. Other salaries and wages came to $1.2m. At year end it held assets of $3.3m against liabilities of $4.5m, net assets of -$1.2m.