Esperanza Academy Inc

Analysis

Esperanza Academy Inc is a registered charity in United States, based in Lawrence, MA. It received its IRS tax-exemption ruling in December 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, Esperanza Academy Inc reported income of $3.6m and spending of $3.1m, spending 85% of its income. Across the 4 years on record, from June 2020 to June 2023, income grew from $2.1m to $3.6m (+73%), an average of +20% a year. The sharpest change came in the year to June 2022, when income rose by 45%. 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, Esperanza Academy Inc sits at the 87th percentile: it is larger than about 87% of them. Against every charity in United States with reported income it ranks in the 90th percentile, and in the 89th percentile within MA. Charities of a similar size with the same main cause include New York Focus News ($3.6m), University of Cleveland Preparatory School ($3.6m) and Trio New College Network Inc ($3.6m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 100% and program service revenue 0.5% of the total. Compensation of current officers, directors and key employees was $298k (9.6% of expenses). Other salaries and wages came to $1.3m. At year end it held assets of $6.3m against liabilities of $278k, net assets of $6.1m. It reported 36 employees.