TLC Academy

Analysis

TLC Academy is a registered charity in United States, based in San Angelo, TX. It received its IRS tax-exemption ruling in August 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 August 2023, TLC Academy reported income of $45.2m and spending of $42.4m, spending 94% of its income. Across the 5 years on record, from August 2019 to August 2023, income grew from $28.1m to $45.2m (+60%), an average of +12% a year. The sharpest change came in the year to August 2022, when income rose by 32%. Over the whole period it spent 93% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, TLC Academy sits at the 98th percentile: it is larger than about 98% of them. Against every charity in United States with reported income it ranks in the 99th percentile, and in the 99th percentile within TX. Charities of a similar size with the same main cause include Rocketship Education DC Inc ($45.1m), Friends University ($45.2m) and College Track ($45.0m).

On its Form 990 for the period ending August 2023, revenue came from contributions and grants 96% and program service revenue 3.2% of the total. Compensation of current officers, directors and key employees was $575k (1.4% of expenses). Other salaries and wages came to $23.8m. At year end it held assets of $69.3m against liabilities of $56.5m, net assets of $12.8m. It reported 790 employees.