Union Academy Foundation

Analysis

Union Academy Foundation is a registered charity in United States, based in Monroe, NC. It received its IRS tax-exemption ruling in March 2002, 24 years ago. Its declared purposes cover education, which this site groups under education and training. The IRS classifies it as a publicly supported organisation (donations from the general public) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending June 2023, Union Academy Foundation reported income of $4.1m and spending of $1.3m, leaving 69% of income unspent that year. Across the 4 years on record, from June 2020 to June 2023, income grew from $1.5m to $4.1m (+170%), an average of +39% a year. The sharpest change came in the year to June 2023, when income rose by 153%. Over the whole period it spent 52% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Union Academy Foundation 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 92nd percentile within NC. Charities of a similar size with the same main cause include Gulf Coast Workforce Development Board Inc ($4.1m), Durango 4-C Council ($4.1m) and Maine Special Education Mental ($4.1m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 64% and program service revenue 22% of the total. Compensation of current officers, directors and key employees was $72k (5.7% of expenses). Other salaries and wages came to $60k. At year end it held assets of $27.3m against liabilities of $17.4m, net assets of $9.9m.