Elevate Academy

Analysis

Elevate Academy is a registered charity in United States, based in Caldwell, ID. It received its IRS tax-exemption ruling in July 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 2024, Elevate Academy reported income of $11.8m and spending of $10.7m, spending 90% of its income. Across the 5 years on record, from June 2020 to June 2024, income grew from $5.7m to $11.8m (+109%), an average of +20% a year. The sharpest change came in the year to June 2022, when income rose by 30%. Over the whole period it spent 94% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Elevate Academy sits at the 94th percentile: it is larger than about 94% of them. Against every charity in United States with reported income it ranks in the 96th percentile, and in the 97th percentile within ID. Charities of a similar size with the same main cause include Veritas Community Services Inc ($11.8m), United Charter High School for Advanced Math and Science II ($11.8m) and Boston Latin School Association ($11.8m).

On its Form 990 for the period ending June 2024, revenue came from contributions and grants 99% of the total. Compensation of current officers, directors and key employees was $431k (4.0% of expenses). Other salaries and wages came to $4.9m. At year end it held assets of $18.3m against liabilities of $15.9m, net assets of $2.4m. It reported 101 employees.