Next Generation Academy Inc

Analysis

Next Generation Academy Inc is a registered charity in United States, based in Rutherfordton, NC. It received its IRS tax-exemption ruling in June 2018, 8 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, Next Generation Academy Inc reported income of $6.2m and spending of $5.7m, spending 93% of its income. Across the 6 years on record, from June 2018 to June 2023, income grew from $1.4m to $6.2m (+356%), an average of +36% a year. The sharpest change came in the year to June 2022, when income rose by 91%. Over the whole period it spent 104% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Next Generation Academy Inc 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 94th percentile within NC. Charities of a similar size with the same main cause include Steele Creek Charter Education Foundation ($6.2m), Compass Montessori Secondary School ($6.2m) and Insight School of California ($6.2m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 25% and program service revenue 75% of the total. Other salaries and wages came to $2.8m. At year end it held assets of $2.2m against liabilities of $1.9m, net assets of $257k. It reported 97 employees.