Falls Lake Academy Inc

Analysis

Falls Lake Academy Inc is a registered charity in United States, based in Creedmoor, NC. It received its IRS tax-exemption ruling in January 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, Falls Lake Academy Inc reported income of $12.8m and spending of $11.8m, spending 93% of its income. Across the 5 years on record, from June 2019 to June 2023, income grew from $10.1m to $12.8m (+27%), an average of +6.1% a year. Over the whole period it spent 94% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Falls Lake Academy Inc sits at the 94th percentile: it is larger than about 94% of them. Against every charity in United States with reported income it ranks in the 96th percentile, and in the 97th percentile within NC. Charities of a similar size with the same main cause include Bais Shaindel ($12.8m), Rosedale Technical College ($12.8m) and Carpenters Joint Training Fund of St Louis ($12.8m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 93% and program service revenue 5.8% of the total. At year end it held assets of $24.4m against liabilities of $19.7m, net assets of $4.7m. It reported 190 employees.