Advantage Arts Academy

Analysis

Advantage Arts Academy is a registered charity in United States, based in Herriman, UT. It received its IRS tax-exemption ruling in May 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, Advantage Arts Academy reported income of $3.6m and spending of $3.5m, spending 96% of its income. Across the 4 years on record, from June 2020 to June 2023, income grew from $76k to $3.6m (+4632%), an average of +262% a year. The sharpest change came in the year to June 2021, when income rose by 3774%. Over the whole period it spent 106% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Advantage Arts Academy sits at the 87th percentile: it is larger than about 87% of them. Against every charity in United States with reported income it ranks in the 90th percentile, and in the 89th percentile within UT. Charities of a similar size with the same main cause include Forrester-Davis Development Center Inc ($3.6m), Trustees of the Free Public Library of the Township of East Brunswick ($3.6m) and City Seminary of New York ($3.6m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 98% and program service revenue 1.6% of the total. At year end it held assets of $12.6m against liabilities of $13.1m, net assets of -$501k.