Scitech Academy

Analysis

Scitech Academy is a registered charity in United States, based in Edina, MN. It received its IRS tax-exemption ruling in September 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, Scitech Academy reported income of $5.3m and spending of $5.7m, spending 108% of what it took in. Across the 5 years on record, from June 2019 to June 2023, income grew from $2.8m to $5.3m (+91%), an average of +18% a year. The sharpest change came in the year to June 2021, when income rose by 31%. Over the whole period it spent 100% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Scitech Academy sits at the 90th percentile: it is larger than about 90% of them. Against every charity in United States with reported income it ranks in the 92nd percentile, and in the 92nd percentile within MN. Charities of a similar size with the same main cause include Haron Dahan Endowment Fund for Beth Tfiloh Inc ($5.3m), Suny Polytechnic Institute Auxiliary Services Corporation ($5.3m) and Cedar Mill Community Library Association of Washington County ($5.3m).

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 $313k (5.5% of expenses). Other salaries and wages came to $2.0m. At year end it held assets of $4.5m against liabilities of $4.5m, net assets of $15k. It reported 103 employees.