Edgewood Academy Inc

Analysis

Edgewood Academy Inc is a registered charity in United States, based in Elmore, AL. It received its IRS tax-exemption ruling in August 2010, 16 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 May 2024, Edgewood Academy Inc reported income of $2.1m and spending of $1.9m, spending 94% of its income. Across the 5 years on record, from May 2020 to May 2024, income grew from $1.7m to $2.1m (+20%), an average of +4.7% a year. The sharpest change came in the year to May 2021, when income rose by 18%. 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, Edgewood Academy Inc sits at the 82nd percentile: it is larger than about 82% of them. Against every charity in United States with reported income it ranks in the 86th percentile, and in the 90th percentile within AL. Charities of a similar size with the same main cause include Richard Allen Academy Inc ($2.1m), Ravencrest Chalet ($2.1m) and North Alabama Center for Educational Excellence Inc ($2.1m).

On its Form 990 for the period ending May 2024, revenue came from contributions and grants 2.0% and program service revenue 95% of the total. Compensation of current officers, directors and key employees was $144k (7.4% of expenses). Other salaries and wages came to $757k. At year end it held assets of $1.1m against liabilities of $972k, net assets of $153k. It reported 59 employees.