Friends of Collegiate Academies Inc

Analysis

Friends of Collegiate Academies Inc is a registered charity in United States, based in New Orleans, LA. It received its IRS tax-exemption ruling in December 2017, 9 years ago. Its declared purposes cover education, which this site groups under education and training. The IRS classifies it as a supporting organisation (type ii) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending June 2023, Friends of Collegiate Academies Inc reported income of $580k and spending of $693k, spending 119% of what it took in. Across the 5 years on record, from June 2019 to June 2023, income fell from $1.1m to $580k (-46%), an average of -14% a year. The sharpest change came in the year to June 2020, when income dropped by 67%. Over the whole period it spent 88% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Friends of Collegiate Academies Inc sits at the 70th percentile: it is larger than about 70% of them. Against every charity in United States with reported income it ranks in the 72nd percentile, and in the 71st percentile within LA. Charities of a similar size with the same main cause include Be Unique Academy Prep Inc ($580k), District of Columbia College Access Program ($580k) and Foundations Christian Academy ($580k).

At year end it held assets of $10.0m against liabilities of $9.6m, net assets of $364k.

Data notes from the register: Spending has exceeded income in each of the last three reported years, so the charity has been drawing on reserves or other funds.