Believers Academy Inc

Analysis

Believers Academy Inc is a registered charity in United States, based in West Palm BCH, FL. It received its IRS tax-exemption ruling in October 2006, 20 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, Believers Academy Inc reported income of $1.9m and spending of $1.8m, spending 96% of its income. Across the 5 years on record, from June 2019 to June 2023, income grew from $1.7m to $1.9m (+9.6%), an average of +2.3% a year. The sharpest change came in the year to June 2022, when income dropped by 21%. Over the whole period it spent 94% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Believers Academy Inc sits at the 82nd percentile: it is larger than about 82% of them. Against every charity in United States with reported income it ranks in the 85th percentile, and in the 87th percentile within FL. Charities of a similar size with the same main cause include California Aggie Alumni Association ($1.9m), Geneva Classical Inc ($1.9m) and Teachunited ($1.9m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 27% and program service revenue 72% of the total. Other salaries and wages came to $975k. At year end it held assets of $1.5m against liabilities of $458k, net assets of $1.1m. It reported 17 employees.