Early Life Academy

Analysis

Early Life Academy is a registered charity in United States, based in Philadelphia, PA. It received its IRS tax-exemption ruling in May 2021, 5 years ago. Its declared purposes cover human services, which this site groups under poverty relief. The IRS classifies it as a publicly supported organisation (gross receipts test) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, Early Life Academy reported income of $509k and spending of $547k, spending 107% of what it took in. Across the 3 years on record, from December 2021 to December 2023, income grew from $303k to $509k (+68%), an average of +30% a year. The sharpest change came in the year to December 2022, when income rose by 97%. Over the whole period it spent 94% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Early Life Academy sits at the 65th percentile: it is larger than about 65% of them. Against every charity in United States with reported income it ranks in the 70th percentile, and in the 69th percentile within PA. Charities of a similar size with the same main cause include Age Well at Home ($509k), Family Service Association of Sheboygan Inc ($509k) and Southwest Sublette County Pioneers Inc ($509k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 24% and program service revenue 76% of the total. Compensation of current officers, directors and key employees was $104k (19% of expenses). Other salaries and wages came to $248k. At year end it held assets of $246k against liabilities of $166k, net assets of $80k.