Elite Academy Scholarship Fund

Analysis

Elite Academy Scholarship Fund is a registered charity in United States, based in Brooklyn, NY. It received its IRS tax-exemption ruling in January 2017, 9 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, Elite Academy Scholarship Fund reported income of $114k and spending of $17k, leaving 85% of income unspent that year. Across the 6 years on record, from December 2017 to December 2023, income fell from $251k to $114k (-55%), an average of -15% a year. The sharpest change came in the year to December 2023, when income rose by 373%. Over the whole period it spent 92% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Elite Academy Scholarship Fund sits at the 42nd percentile: it is larger than about 42% of them. Against every charity in United States with reported income it ranks in the 40th percentile, and in the 39th percentile within NY. Charities of a similar size with the same main cause include Lakewood Band Boosters Inc ($114k), Pine-Richland Unified Booster Organization ($114k) and Middlewest Region Chi Eta Phi Sorority Inc ($114k).

On its Form 990-EZ for the period ending December 2023, revenue came from contributions and grants 100% of the total. At year end it held assets of $97k against liabilities of $875, net assets of $96k.