Laurens Academy Inc

Analysis

Laurens Academy Inc is a registered charity in United States, based in Laurens, SC. It received its IRS tax-exemption ruling in January 1996, 30 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, Laurens Academy Inc reported income of $2.6m and spending of $1.9m, leaving 24% of income unspent that year. Across the 5 years on record, from June 2020 to June 2024, income grew from $1.4m to $2.6m (+89%), an average of +17% a year. The sharpest change came in the year to June 2022, when income rose by 51%. Over the whole period it spent 87% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Laurens Academy Inc sits at the 84th percentile: it is larger than about 84% of them. Against every charity in United States with reported income it ranks in the 88th percentile, and in the 90th percentile within SC. Charities of a similar size with the same main cause include Great Commission High School ($2.6m), Mass Association of School Committes Inc ($2.6m) and Seattle Nativity School ($2.6m).

On its Form 990 for the period ending June 2024, revenue came from contributions and grants 14% and program service revenue 85% of the total. Compensation of current officers, directors and key employees was $49k (2.5% of expenses). Other salaries and wages came to $676k. At year end it held assets of $4.3m against liabilities of $2.2m, net assets of $2.1m. It reported 38 employees.