Beacon Education Inc

Analysis

Beacon Education Inc is a registered charity in United States, based in Wilmington, NC. It received its IRS tax-exemption ruling in September 2016, 10 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 June 2023, Beacon Education Inc reported income of $7.1m and spending of $1.1m, leaving 84% of income unspent that year. Across the 5 years on record, from June 2019 to June 2023, income grew from $1.6m to $7.1m (+356%), an average of +46% a year. The sharpest change came in the year to June 2022, when income rose by 118%. Over the whole period it spent 81% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Beacon Education 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 95th percentile within NC. Charities of a similar size with the same main cause include American Community School Foundation Inc ($7.1m), Hoosier Academy Inc ($7.1m) and Peninsula Preparatory Academy Charter School ($7.1m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 91% and program service revenue 1.3% of the total. Other salaries and wages came to $99k. At year end it held assets of $25.4m against liabilities of $37k, net assets of $25.4m.