Sejong Academy

Analysis

Sejong Academy is a registered charity in United States, based in Saint Paul, MN. It received its IRS tax-exemption ruling in April 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, Sejong Academy reported income of $6.2m and spending of $7.6m, spending 122% of what it took in. Across the 5 years on record, from June 2019 to June 2023, income grew from $3.0m to $6.2m (+108%), an average of +20% a year. The sharpest change came in the year to June 2022, when income rose by 28%. Over the whole period it spent 107% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Sejong Academy sits at the 91st percentile: it is larger than about 90% of them. Against every charity in United States with reported income it ranks in the 93rd percentile, and in the 93rd percentile within MN. Charities of a similar size with the same main cause include Center for Progressive Learning Inc ($6.2m), East River Child Development Center ($6.2m) and Crosslake Community School Inc ($6.2m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 99% and program service revenue 0.7% of the total. Compensation of current officers, directors and key employees was $268k (3.5% of expenses). Other salaries and wages came to $3.0m. At year end it held assets of $15.3m against liabilities of $17.1m, net assets of -$1.8m. It reported 94 employees.