Faith Academy of Mobile Inc

Analysis

Faith Academy of Mobile Inc is a registered charity in United States, based in Mobile, AL. It received its IRS tax-exemption ruling in June 2014, 12 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, Faith Academy of Mobile Inc reported income of $13.8m and spending of $11.0m, leaving 20% of income unspent that year. Across the 5 years on record, from June 2019 to June 2023, income grew from $8.9m to $13.8m (+56%), an average of +12% a year. The sharpest change came in the year to June 2021, when income rose by 41%. Over the whole period it spent 82% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Faith Academy of Mobile 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 98th percentile within AL. Charities of a similar size with the same main cause include Oak Farm School Inc ($13.8m), Maryvale Preparatory Academy ($13.8m) and Austin Peay State University Foundation ($13.8m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 6.4% and program service revenue 86% of the total. Compensation of current officers, directors and key employees was $336k (3.0% of expenses). Other salaries and wages came to $5.1m. At year end it held assets of $26.6m against liabilities of $3.2m, net assets of $23.3m. It reported 160 employees.