Precious Stones Academy Inc

Analysis

Precious Stones Academy Inc is a registered charity in United States, based in Houston, TX. It received its IRS tax-exemption ruling in September 2016, 10 years ago. Its declared purposes cover religion-related, which this site groups under religion. The IRS classifies it as a publicly supported organisation (gross receipts test) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, Precious Stones Academy Inc reported income of $973k and spending of $456k, leaving 53% of income unspent that year. Across the 3 years on record, from December 2021 to December 2023, income grew from $338k to $973k (+188%), an average of +70% a year. The sharpest change came in the year to December 2022, when income rose by 131%. Over the whole period it spent 53% of the income it received.

Among 31,138 United States charities whose main cause is religion and that reported income, Precious Stones Academy Inc sits at the 91st percentile: it is larger than about 91% of them. Against every charity in United States with reported income it ranks in the 79th percentile, and in the 83rd percentile within TX. Charities of a similar size with the same main cause include Turkish Connections International ($972k), Its Good to Know Inc ($973k) and Shepherds Fold Ranch Inc ($972k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 37% and program service revenue 63% of the total. Compensation of current officers, directors and key employees was $124k (27% of expenses). Other salaries and wages came to $126k. At year end it held assets of $1.2m against liabilities of $0, net assets of $1.2m. It reported 13 employees.