Union Academy

Analysis

Union Academy is a registered charity in United States, based in Monroe, NC. It received its IRS tax-exemption ruling in May 2015, 11 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, Union Academy reported income of $22.3m and spending of $23.0m, spending 103% of its income. Across the 5 years on record, from June 2019 to June 2023, income grew from $17.0m to $22.3m (+31%), an average of +6.9% a year. The sharpest change came in the year to June 2022, when income rose by 15%. 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, Union Academy sits at the 96th percentile: it is larger than about 96% of them. Against every charity in United States with reported income it ranks in the 97th percentile, and in the 98th percentile within NC. Charities of a similar size with the same main cause include Ohio State University Alumni Association Inc ($22.2m), American Maritime Officers Safety & Education Plan ($22.3m) and Northeast College of Health Sciences ($22.2m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 93% and program service revenue 7.0% of the total. At year end it held assets of $33.2m against liabilities of $20.4m, net assets of $12.8m. It reported 356 employees.