Harmel Academy Inc

Analysis

Harmel Academy Inc is a registered charity in United States, based in Grand Rapids, MI. It received its IRS tax-exemption ruling in January 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, Harmel Academy Inc reported income of $1.5m and spending of $1.4m, spending 94% of its income. Across the 3 years on record, from June 2021 to June 2023, income grew from $610k to $1.5m (+143%), an average of +56% a year. The sharpest change came in the year to June 2023, when income rose by 59%. Over the whole period it spent 85% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Harmel Academy Inc sits at the 79th percentile: it is larger than about 79% of them. Against every charity in United States with reported income it ranks in the 83rd percentile, and in the 83rd percentile within MI. Charities of a similar size with the same main cause include Albemarle Regional Library ($1.5m), Uci Alumni Association ($1.5m) and South Louisiana Facilities Corp ($1.5m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 59% and program service revenue 33% of the total. Compensation of current officers, directors and key employees was $231k (17% of expenses). Other salaries and wages came to $321k. At year end it held assets of $711k against liabilities of $609k, net assets of $102k. It reported 11 employees.