Texas Academy of Faith and Arts

Analysis

Texas Academy of Faith and Arts is a registered charity in United States, based in Arlington, TX. It received its IRS tax-exemption ruling in February 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, Texas Academy of Faith and Arts reported income of $634k and spending of $666k, spending 105% of its income. Across the 4 years on record, from June 2020 to June 2023, income fell from $776k to $634k (-18%), an average of -6.5% a year. The sharpest change came in the year to June 2021, when income dropped by 45%. Over the whole period it spent 110% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Texas Academy of Faith and Arts sits at the 71st percentile: it is larger than about 71% of them. Against every charity in United States with reported income it ranks in the 74th percentile, and in the 78th percentile within TX. Charities of a similar size with the same main cause include Dogs Deserve Better Inc ($634k), Central Association of College and University Business Officers ($635k) and Solar Youth Inc ($634k).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 3.4% and program service revenue 96% of the total. Compensation of current officers, directors and key employees was $95k (14% of expenses). Other salaries and wages came to $249k. At year end it held assets of $524k against liabilities of $241k, net assets of $282k. It reported 32 employees.

Data notes from the register: Spending has exceeded income in each of the last three reported years, so the charity has been drawing on reserves or other funds.