Terra Academy Inc

Analysis

Terra Academy Inc is a registered charity in United States, based in Vernal, UT. It received its IRS tax-exemption ruling in March 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, Terra Academy Inc reported income of $6.7m and spending of $6.1m, spending 92% of its income. Across the 5 years on record, from June 2019 to June 2023, income grew from $5.2m to $6.7m (+29%), an average of +6.5% a year. Over the whole period it spent 93% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Terra 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 93rd percentile, and in the 94th percentile within UT. Charities of a similar size with the same main cause include Challenge to Excellence Charter School ($6.7m), VHS Inc ($6.7m) and Midwestern State University Foundation Inc ($6.7m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 97% and program service revenue 2.0% of the total. Compensation of current officers, directors and key employees was $138k (2.3% of expenses). Other salaries and wages came to $3.2m. At year end it held assets of $15.7m against liabilities of $12.7m, net assets of $3.0m. It reported 135 employees.