Faith Academy Inc

Analysis

Faith Academy Inc is a registered charity in United States, based in Clinton, NC. It received its IRS tax-exemption ruling in May 1999, 27 years ago. Its declared purposes cover human services, which this site groups under poverty relief. The IRS classifies it as a publicly supported organisation (gross receipts test) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, Faith Academy Inc reported income of $375k and spending of $375k, spending 100% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $258k to $375k (+45%), an average of +9.8% a year. The sharpest change came in the year to December 2022, when income rose by 27%. Over the whole period it spent 103% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Faith Academy Inc sits at the 60th percentile: it is larger than about 60% of them. Against every charity in United States with reported income it ranks in the 66th percentile, and in the 64th percentile within NC. Charities of a similar size with the same main cause include Lake Trust Credit Union Foundation ($375k), The Arc of Volusia Inc ($375k) and Saint Joseph University Foundation Beirut Inc ($375k).

On its Form 990 for the period ending December 2023, revenue came from program service revenue 100% of the total. Compensation of current officers, directors and key employees was $62k (17% of expenses). Other salaries and wages came to $144k. At year end it held assets of $296k against liabilities of $296k, net assets of $0. It reported 15 employees.