Success Academy

Analysis

Success Academy is a registered charity in United States, based in Bloomington, MN. It received its IRS tax-exemption ruling in February 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, Success Academy reported income of $5.6m and spending of $5.6m, spending 101% of its income. Across the 5 years on record, from June 2019 to June 2023, income grew from $1.5m to $5.6m (+265%), an average of +38% a year. The sharpest change came in the year to June 2022, when income rose by 71%. Over the whole period it spent 96% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Success Academy sits at the 90th 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 92nd percentile within MN. Charities of a similar size with the same main cause include Yellow Work Inc ($5.5m), St Johns Community Services - Virginia ($5.6m) and Midland College Foundation Inc ($5.5m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 100% of the total. Compensation of current officers, directors and key employees was $59k (1.0% of expenses). Other salaries and wages came to $2.0m. At year end it held assets of $6.4m against liabilities of $5.9m, net assets of $528k. It reported 81 employees.