Praise Academy

Analysis

Praise Academy is a registered charity in United States, based in Shreveport, LA. It received its IRS tax-exemption ruling in March 2017, 9 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, Praise Academy reported income of $680k and spending of $473k, leaving 30% of income unspent that year. Across the 5 years on record, from June 2019 to June 2023, income grew from $618k to $680k (+10%), an average of +2.4% a year. The sharpest change came in the year to June 2021, when income rose by 46%. Over the whole period it spent 79% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Praise Academy sits at the 72nd percentile: it is larger than about 72% of them. Against every charity in United States with reported income it ranks in the 75th percentile, and in the 73rd percentile within LA. Charities of a similar size with the same main cause include Ella Baker Charles Romain Child Development Center ($680k), Future Leaders of Excellence Academy ($680k) and Waldorf Association of Lawrence ($680k).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 96% and program service revenue 0.9% of the total. Compensation of current officers, directors and key employees was $88k (19% of expenses). Other salaries and wages came to $204k. At year end it held assets of $898k against liabilities of $17k, net assets of $881k. It reported 14 employees.