Grace Academy

Analysis

Grace Academy is a registered charity in United States, based in Georgetown, TX. It received its IRS tax-exemption ruling in May 2001, 25 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 2024, Grace Academy reported income of $4.4m and spending of $3.5m, leaving 20% of income unspent that year. Across the 5 years on record, from June 2020 to June 2024, income grew from $2.1m to $4.4m (+104%), an average of +20% a year. The sharpest change came in the year to June 2021, when income rose by 57%. Over the whole period it spent 78% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Grace Academy sits at the 88th percentile: it is larger than about 88% of them. Against every charity in United States with reported income it ranks in the 91st percentile, and in the 94th percentile within TX. Charities of a similar size with the same main cause include Pittsburgh Institute of Mortuary Science Inc ($4.4m), Goodwill Leads ($4.4m) and Central Community College Foundation Inc ($4.4m).

On its Form 990 for the period ending June 2024, revenue came from contributions and grants 17% and program service revenue 77% of the total. Compensation of current officers, directors and key employees was $130k (3.7% of expenses). Other salaries and wages came to $2.0m. At year end it held assets of $9.7m against liabilities of $4.6m, net assets of $5.1m. It reported 56 employees.