Smart Academy

Analysis

Smart Academy is a registered charity in United States, based in Cleveland, OH. It received its IRS tax-exemption ruling in December 2018, 8 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, Smart Academy reported income of $1.8m and spending of $2.0m, spending 113% of what it took in. Across the 4 years on record, from June 2019 to June 2023, income grew from $411k to $1.8m (+331%), an average of +63% a year. The sharpest change came in the year to June 2021, when income rose by 287%. Over the whole period it spent 110% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Smart Academy sits at the 81st percentile: it is larger than about 81% of them. Against every charity in United States with reported income it ranks in the 85th percentile, and in the 85th percentile within OH. Charities of a similar size with the same main cause include LCTCS Foundation ($1.8m), Northwest Arkansas Catholic High School ($1.8m) and Pathways Academy Adult Education ($1.8m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 100% of the total. Compensation of current officers, directors and key employees was $85k (4.3% of expenses). Other salaries and wages came to $663k. At year end it held assets of $1.2m against liabilities of $1.9m, net assets of -$680k. It reported 35 employees.