Kuumba Academy Charter School Inc

Analysis

Kuumba Academy Charter School Inc is a registered charity in United States, based in Wilmington, DE. It received its IRS tax-exemption ruling in July 2014, 12 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, Kuumba Academy Charter School Inc reported income of $15.9m and spending of $16.4m, spending 103% of its income. Across the 5 years on record, from June 2020 to June 2024, income grew from $10.4m to $15.9m (+53%), an average of +11% a year. The sharpest change came in the year to June 2022, when income rose by 23%. Over the whole period it spent 105% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Kuumba Academy Charter School Inc sits at the 95th percentile: it is larger than about 95% of them. Against every charity in United States with reported income it ranks in the 96th percentile, and in the 97th percentile within DE. Charities of a similar size with the same main cause include Mastery Charter School - Harrity Elementary ($15.9m), Eagle Advantage Schools Inc ($15.9m) and Fort Worth Christian School Inc ($15.9m).

On its Form 990 for the period ending June 2024, revenue came from contributions and grants 99% and program service revenue 0.4% of the total. Compensation of current officers, directors and key employees was $137k (0.8% of expenses). Other salaries and wages came to $5.9m. At year end it held assets of $13.7m against liabilities of $32.6m, net assets of -$18.9m.