Providence Academy

Analysis

Providence Academy is a registered charity in United States, based in Leesburg, VA. It received its IRS tax-exemption ruling in June 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, Providence Academy reported income of $4.3m and spending of $3.8m, spending 88% of its income. Across the 5 years on record, from June 2019 to June 2023, income grew from $2.1m to $4.3m (+103%), an average of +19% a year. The sharpest change came in the year to June 2021, when income rose by 62%. Over the whole period it spent 91% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Providence Academy sits at the 88th percentile: it is larger than about 88% of them. Against every charity in United States with reported income it ranks in the 91st percentile, and in the 92nd percentile within VA. Charities of a similar size with the same main cause include One Schoolhouse Inc ($4.3m), Silliman Institute Inc ($4.3m) and Cooperative for Education ($4.3m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 14% and program service revenue 85% of the total. Compensation of current officers, directors and key employees was $263k (7.0% of expenses). Other salaries and wages came to $2.2m. At year end it held assets of $4.9m against liabilities of $3.8m, net assets of $1.1m. It reported 64 employees.