Nexus Academy of Cleveland

Analysis

Nexus Academy of Cleveland is a registered charity in United States, based in Cleveland, OH. It received its IRS tax-exemption ruling in June 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, Nexus Academy of Cleveland reported income of $2.4m and spending of $2.4m, spending 98% of its income. Across the 5 years on record, from June 2019 to June 2023, income grew from $1.5m to $2.4m (+59%), an average of +12% a year. The sharpest change came in the year to June 2021, when income rose by 55%. 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, Nexus Academy of Cleveland sits at the 84th percentile: it is larger than about 84% of them. Against every charity in United States with reported income it ranks in the 88th percentile, and in the 88th percentile within OH. Charities of a similar size with the same main cause include Greenwich Library ($2.4m), Ingenuity Project Inc ($2.4m) and Mission Kids ($2.4m).

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 $652k. At year end it held assets of $974k against liabilities of $3.1m, net assets of -$2.1m.