Grow Academy

Analysis

Grow Academy is a registered charity in United States, based in Nashville, TN. It received its IRS tax-exemption ruling in December 2013, 13 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 December 2023, Grow Academy reported income of $2.5m and spending of $2.4m, spending 96% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $1.5m to $2.5m (+73%), an average of +15% a year. The sharpest change came in the year to December 2020, when income rose by 50%. 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, Grow Academy 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 89th percentile within TN. Charities of a similar size with the same main cause include Mesivta Ahavas Hatorah ($2.5m), Jewish Day School of Providence ($2.5m) and Veritas Preparatory School Inc ($2.5m).

On its Form 990 for the period ending December 2023, revenue came from program service revenue 100% of the total. Compensation of current officers, directors and key employees was $563k (23% of expenses). Other salaries and wages came to $824k. At year end it held assets of $1.8m against liabilities of $37k, net assets of $1.8m. It reported 70 employees.