Grace Academy Inc

Analysis

Grace Academy Inc is a registered charity in United States, based in Hagerstown, MD. It received its IRS tax-exemption ruling in March 1979, 47 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, Grace Academy Inc reported income of $4.1m and spending of $4.1m, spending 99% of its income. Across the 6 years on record, from June 2019 to June 2024, income grew from $2.6m to $4.1m (+61%), an average of +10% a year. The sharpest change came in the year to June 2022, when income rose by 21%. Over the whole period it spent 95% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Grace Academy Inc sits at the 88th percentile: it is larger than about 88% of them. Against every charity in United States with reported income it ranks in the 91st percentile, and in the 90th percentile within MD. Charities of a similar size with the same main cause include Rivers Edge Christian Academy ($4.1m), Lock Haven University Foundation ($4.1m) and Hosting Solutions and Library Consulting ($4.1m).

On its Form 990 for the period ending June 2024, revenue came from contributions and grants 2.6% and program service revenue 95% of the total. Other salaries and wages came to $1.8m. At year end it held assets of $2.6m against liabilities of $1.3m, net assets of $1.3m. It reported 98 employees.