Schelastic Academy

Analysis

Schelastic Academy is a registered charity in United States, based in Arlington, TX. It received its IRS tax-exemption ruling in November 2021, 5 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 2024, Schelastic Academy reported income of $231k and spending of $213k, spending 92% of its income. Across the 2 years on record, from June 2023 to June 2024, income grew from $123k to $231k (+88%), an average of +88% a year. The sharpest change came in the year to June 2024, when income rose by 88%. Over the whole period it spent 88% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Schelastic Academy sits at the 57th percentile: it is larger than about 57% of them. Against every charity in United States with reported income it ranks in the 57th percentile, and in the 61st percentile within TX. Charities of a similar size with the same main cause include Legacy Inc ($231k), Rural Technology Fund ($231k) and Lyons Valley Preschool ($231k).

On its Form 990 for the period ending June 2024, revenue came from contributions and grants 6.9% and program service revenue 92% of the total. Compensation of current officers, directors and key employees was $22k (11% of expenses). At year end it held assets of $82k against liabilities of $30k, net assets of $52k.