Palmdale Aerospace Academy Foundation

Analysis

Palmdale Aerospace Academy Foundation is a registered charity in United States, based in Palmdale, CA. It received its IRS tax-exemption ruling in April 2016, 10 years ago. Its declared purposes cover education, which this site groups under education and training. The IRS classifies it as a supporting organisation (type i) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending June 2023, Palmdale Aerospace Academy Foundation reported income of $5.5m and spending of $4.3m, leaving 21% of income unspent that year. Across the 5 years on record, from June 2019 to June 2023, income grew from $3.5m to $5.5m (+59%), an average of +12% a year. The sharpest change came in the year to June 2020, when income rose by 59%. Over the whole period it spent 81% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Palmdale Aerospace Academy Foundation 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 93rd percentile, and in the 93rd percentile within CA. Charities of a similar size with the same main cause include Madison Area Technical College Foundation Inc ($5.5m), Urban Community School Property Foundation ($5.5m) and Richard Milburn Academy of Florida Inc ($5.5m).

On its Form 990 for the period ending June 2023, revenue came from program service revenue 100% of the total. At year end it held assets of $85.4m against liabilities of $81.2m, net assets of $4.3m.