Elan Academy Inc

Analysis

Elan Academy Inc is a registered charity in United States, based in New Orleans, LA. It received its IRS tax-exemption ruling in July 2016, 10 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, Elan Academy Inc reported income of $6.8m and spending of $6.2m, spending 90% of its income. Across the 5 years on record, from June 2019 to June 2023, income grew from $1.7m to $6.8m (+295%), an average of +41% a year. The sharpest change came in the year to June 2022, when income rose by 49%. Over the whole period it spent 86% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Elan 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 LA. Charities of a similar size with the same main cause include Choice Charter School ($6.8m), Pioneer Springs Community School Inc ($6.8m) and Lead Charter School Inc ($6.8m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 98% of the total. Compensation of current officers, directors and key employees was $140k (2.3% of expenses). Other salaries and wages came to $2.5m. At year end it held assets of $3.4m against liabilities of $118k, net assets of $3.3m. It reported 69 employees.