Remnant Academy

Analysis

Remnant Academy is a registered charity in United States, based in LA Grange, TX. It received its IRS tax-exemption ruling in March 2019, 7 years ago. Its declared purposes cover education, which this site groups under education and training. The IRS classifies it as a publicly supported organisation (gross receipts test) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, Remnant Academy reported income of $959k and spending of $778k, spending 81% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $641k to $959k (+50%), an average of +11% a year. The sharpest change came in the year to December 2020, when income rose by 33%. Over the whole period it spent 85% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Remnant Academy sits at the 75th percentile: it is larger than about 75% of them. Against every charity in United States with reported income it ranks in the 79th percentile, and in the 83rd percentile within TX. Charities of a similar size with the same main cause include Friends of Teach for Armenia Incorporated ($958k), Learning Loft Foundation Inc ($959k) and Montessori School of Franklin ($958k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 44% and program service revenue 48% of the total. Compensation of current officers, directors and key employees was $99k (13% of expenses). Other salaries and wages came to $414k. At year end it held assets of $712k against liabilities of $0, net assets of $712k. It reported 42 employees.