Providence Academy

Analysis

Providence Academy is a registered charity in United States, based in Johnson City, TN. It received its IRS tax-exemption ruling in October 1995, 31 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, Providence Academy reported income of $8.2m and spending of $7.2m, spending 88% of its income. Across the 5 years on record, from June 2019 to June 2023, income grew from $4.1m to $8.2m (+101%), an average of +19% a year. The sharpest change came in the year to June 2022, when income rose by 81%. Over the whole period it spent 83% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Providence Academy sits at the 92nd percentile: it is larger than about 92% of them. Against every charity in United States with reported income it ranks in the 94th percentile, and in the 95th percentile within TN. Charities of a similar size with the same main cause include Middlebridge School Inc ($8.2m), Compass Charter School ($8.2m) and Hudson Country Montessori School ($8.2m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 26% and program service revenue 71% of the total. Compensation of current officers, directors and key employees was $131k (1.8% of expenses). Other salaries and wages came to $3.8m. At year end it held assets of $19.9m against liabilities of $4.1m, net assets of $15.8m. It reported 144 employees.