Futuro Academy Incorporated

Analysis

Futuro Academy Incorporated is a registered charity in United States, based in Las Vegas, NV. It received its IRS tax-exemption ruling in June 2016, 10 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, Futuro Academy Incorporated reported income of $5.4m and spending of $6.3m, spending 117% of what it took in. Across the 5 years on record, from June 2019 to June 2023, income grew from $2.5m to $5.4m (+113%), an average of +21% a year. The sharpest change came in the year to June 2021, when income rose by 32%. Over the whole period it spent 104% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Futuro Academy Incorporated sits at the 90th percentile: it is larger than about 90% of them. Against every charity in United States with reported income it ranks in the 92nd percentile, and in the 94th percentile within NV. Charities of a similar size with the same main cause include Young Mens Christian Association of Glendale ($5.4m), Charlottesville Day School Inc ($5.4m) and Philadelphia-Montgomery Chrisitan Academy ($5.4m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 99% of the total. Compensation of current officers, directors and key employees was $254k (4.1% of expenses). Other salaries and wages came to $2.0m. At year end it held assets of $10.7m against liabilities of $11.4m, net assets of -$668k. It reported 51 employees.