Faithacts for Education Inc

Analysis

Faithacts for Education Inc is a registered charity in United States, based in Hamden, CT. It received its IRS tax-exemption ruling in January 2015, 11 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 2023, Faithacts for Education Inc reported income of $2.6m and spending of $3.2m, spending 124% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income grew from $1.6m to $2.6m (+65%), an average of +13% a year. The sharpest change came in the year to December 2021, when income rose by 86%. 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, Faithacts for Education Inc 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 86th percentile within CT. Charities of a similar size with the same main cause include In Your Hands Inc ($2.6m), Goodwill Arkansas Education Initiatives Inc ($2.6m) and Flagstaff Community Christian School Inc ($2.6m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 99% of the total. Compensation of current officers, directors and key employees was $501k (16% of expenses). Other salaries and wages came to $1.1m. It paid $20k in professional fundraising fees. At year end it held assets of $2.3m against liabilities of $1.3m, net assets of $1.0m. It reported 22 employees.