Forge Academy

Analysis

Forge Academy is a registered charity in United States, based in Richmond, VA. It received its IRS tax-exemption ruling in March 2013, 13 years ago. Its declared purposes cover education, which this site groups under education and training. The IRS classifies it as a publicly supported organisation (donations from the general public) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, Forge Academy reported income of $501k and spending of $575k, spending 115% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income fell from $909k to $501k (-45%), an average of -14% a year. The sharpest change came in the year to December 2023, when income dropped by 45%. Over the whole period it spent 98% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Forge Academy sits at the 68th percentile: it is larger than about 68% of them. Against every charity in United States with reported income it ranks in the 70th percentile, and in the 70th percentile within VA. Charities of a similar size with the same main cause include Community & Technical College Foundation of Ashland Inc ($500k), Center for Redemptive Education Inc ($501k) and Stratford Playhouse Booster Club ($500k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 2.1% and program service revenue 98% of the total. Compensation of current officers, directors and key employees was $187k (33% of expenses). Other salaries and wages came to $259k. At year end it held assets of $98k against liabilities of $43k, net assets of $55k. It reported 37 employees.