Upward Hope Academy Inc

Analysis

Upward Hope Academy Inc is a registered charity in United States, based in Galveston, TX. It received its IRS tax-exemption ruling in July 2016, 10 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 2022, Upward Hope Academy Inc reported income of $187k and spending of $417k, spending 223% of what it took in. Across the 4 years on record, from December 2019 to December 2022, income fell from $509k to $187k (-63%), an average of -28% a year. The sharpest change came in the year to December 2020, when income dropped by 66%. Over the whole period it spent 133% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Upward Hope Academy Inc sits at the 53rd percentile: it is larger than about 53% of them. Against every charity in United States with reported income it ranks in the 52nd percentile, and in the 56th percentile within TX. Charities of a similar size with the same main cause include Penn State Alumni Association ($187k), Wyalusing Area Education Foundation ($187k) and Rocky Hill Elementary School Foundation ($187k).

On its Form 990 for the period ending December 2022, revenue came from contributions and grants 57% of the total. Other salaries and wages came to $189k. At year end it held assets of $394k against liabilities of $57k, net assets of $336k. It reported 6 employees.

Data notes from the register: Spending has exceeded income in each of the last three reported years, so the charity has been drawing on reserves or other funds.