Steel City Academy Inc

Analysis

Steel City Academy Inc is a registered charity in United States, based in Gary, IN. It received its IRS tax-exemption ruling in May 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, Steel City Academy Inc reported income of $7.0m and spending of $6.5m, spending 93% of its income. Across the 5 years on record, from June 2019 to June 2023, income grew from $4.8m to $7.0m (+45%), an average of +9.7% a year. The sharpest change came in the year to June 2020, when income rose by 24%. Over the whole period it spent 87% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Steel City 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 94th percentile, and in the 94th percentile within IN. Charities of a similar size with the same main cause include North Idaho STEM Charter Academy Inc ($7.0m), University of Wisconsin Oshkosh Foundation Inc ($7.0m) and Raleigh Charter High School ($7.0m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 99% and program service revenue 0.1% of the total. Compensation of current officers, directors and key employees was $973k (15% of expenses). Other salaries and wages came to $2.7m. At year end it held assets of $5.0m against liabilities of $1.2m, net assets of $3.8m. It reported 72 employees.