Ascent Academies of Utah

Analysis

Ascent Academies of Utah is a registered charity in United States, based in West Jordan, UT. It received its IRS tax-exemption ruling in February 2015, 11 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, Ascent Academies of Utah reported income of $30.6m and spending of $30.4m, spending 99% of its income. Across the 5 years on record, from June 2019 to June 2023, income grew from $20.2m to $30.6m (+51%), an average of +11% a year. The sharpest change came in the year to June 2023, when income rose by 33%. Over the whole period it spent 105% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Ascent Academies of Utah sits at the 97th percentile: it is larger than about 97% of them. Against every charity in United States with reported income it ranks in the 98th percentile, and in the 99th percentile within UT. Charities of a similar size with the same main cause include Southern College of Optometry ($30.5m), Early Learning Coalition of Okaloosa and Walton Counties Inc ($30.6m) and Carrollwood Day School Education Inc ($30.5m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 98% and program service revenue 1.8% of the total. At year end it held assets of $65.5m against liabilities of $67.7m, net assets of -$2.3m.