Beacon Academy Inc

Analysis

Beacon Academy Inc is a registered charity in United States, based in Boston, MA. It received its IRS tax-exemption ruling in May 2005, 21 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, Beacon Academy Inc reported income of $2.4m and spending of $2.8m, spending 118% of what it took in. Across the 5 years on record, from June 2019 to June 2023, income fell from $3.7m to $2.4m (-36%), an average of -10% a year. The sharpest change came in the year to June 2020, when income rose by 117%. Over the whole period it spent 61% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Beacon 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 87th percentile, and in the 86th percentile within MA. Charities of a similar size with the same main cause include Mitch Charter School ($2.4m), Portland Montessori School ($2.4m) and Georgia Highlands College Foundation Inc ($2.4m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 92% and program service revenue 0.0% of the total. Compensation of current officers, directors and key employees was $345k (12% of expenses). Other salaries and wages came to $989k. At year end it held assets of $16.4m against liabilities of $228k, net assets of $16.2m. It reported 20 employees.