Explore Academy Foundation

Analysis

Explore Academy Foundation is a registered charity in United States, based in Albuquerque, NM. It received its IRS tax-exemption ruling in November 2014, 12 years ago. Its declared purposes cover education, which this site groups under education and training. The IRS classifies it as a supporting organisation (type i) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending June 2023, Explore Academy Foundation reported income of $2.6m and spending of $3.0m, spending 118% of what it took in. The sharpest change came in the year to June 2020, when income rose by 99%. Over the whole period it spent 152% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Explore Academy Foundation sits at the 84th percentile: it is larger than about 84% of them. Against every charity in United States with reported income it ranks in the 88th percentile, and in the 89th percentile within NM. Charities of a similar size with the same main cause include United States Hispanic Chamber of Commerce Educational Fund ($2.6m), Genesee Community College Foundation Housing Services Inc ($2.6m) and Bellingham Technical College Foundation ($2.6m).

On its Form 990 for the period ending June 2023, revenue came from program service revenue 83% of the total. At year end it held assets of $34.4m against liabilities of $39.0m, net assets of -$4.6m.

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.