Phoenix Academy Inc

Analysis

Phoenix Academy Inc is a registered charity in United States, based in High Point, NC. It received its IRS tax-exemption ruling in December 1999, 27 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, Phoenix Academy Inc reported income of $13.7m and spending of $13.6m, spending 99% of its income. Across the 5 years on record, from June 2019 to June 2023, income grew from $8.0m to $13.7m (+70%), an average of +14% a year. The sharpest change came in the year to June 2022, when income rose by 17%. Over the whole period it spent 96% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Phoenix Academy 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 NC. Charities of a similar size with the same main cause include Marin Horizon School Incorporated ($13.7m), Creation Foundation Inc ($13.7m) and Keystone Academy Charter School ($13.7m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 99% and program service revenue 0.0% of the total. Other salaries and wages came to $5.5m. At year end it held assets of $6.2m against liabilities of $3.1m, net assets of $3.1m. It reported 98 employees.