Trace Academy Inc

Analysis

Trace Academy Inc is a registered charity in United States, based in Orlando, FL. It received its IRS tax-exemption ruling in January 1998, 28 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, Trace Academy Inc reported income of $198k and spending of $246k, spending 124% of what it took in. Across the 5 years on record, from June 2019 to June 2023, income fell from $215k to $198k (-7.7%), an average of -2.0% a year. Over the whole period it spent 102% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Trace Academy Inc sits at the 54th percentile: it is larger than about 54% of them. Against every charity in United States with reported income it ranks in the 54th percentile, and in the 57th percentile within FL. Charities of a similar size with the same main cause include Plain Local Schools Foundation ($198k), Marie Harrison Community Foundation Inc ($198k) and Ems Success ($198k).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 2.8% and program service revenue 97% of the total. Compensation of current officers, directors and key employees was $58k (24% of expenses). Other salaries and wages came to $40k. At year end it held assets of $161k against liabilities of $2,446, net assets of $159k. It reported 2 employees.

Data notes from the register: Spending has exceeded income in each of the last three reported years, so the charity has been drawing on reserves or other funds.