Ignite Academy Inc

Analysis

Ignite Academy Inc is a registered charity in United States, based in Tarpon SPGS, FL. It received its IRS tax-exemption ruling in September 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 2024, Ignite Academy Inc reported income of $1.1m and spending of $904k, spending 80% of its income. Across the 4 years on record, from June 2021 to June 2024, income grew from $352k to $1.1m (+220%), an average of +47% a year. The sharpest change came in the year to June 2022, when income rose by 68%. Over the whole period it spent 82% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Ignite Academy Inc sits at the 77th percentile: it is larger than about 77% of them. Against every charity in United States with reported income it ranks in the 81st percentile, and in the 83rd percentile within FL. Charities of a similar size with the same main cause include Mount St Michael Catholic School ($1.1m), Associated Alumni of the Central High School of Philadelphia ($1.1m) and Arpan Foundation Incorporated ($1.1m).

On its Form 990 for the period ending June 2024, revenue came from contributions and grants 12% and program service revenue 88% of the total. Compensation of current officers, directors and key employees was $140k (15% of expenses). Other salaries and wages came to $486k. At year end it held assets of $565k against liabilities of $16k, net assets of $549k. It reported 23 employees.