Bloom Academy Inc

Analysis

Bloom Academy Inc is a registered charity in United States, based in Houston, TX. It received its IRS tax-exemption ruling in November 2017, 9 years ago. Its declared purposes cover education, which this site groups under education and training. 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 June 2023, Bloom Academy Inc reported income of $5.1m and spending of $4.9m, spending 96% of its income. Across the 5 years on record, from June 2019 to June 2023, income grew from $395k to $5.1m (+1179%), an average of +89% a year. The sharpest change came in the year to June 2020, when income rose by 131%. Over the whole period it spent 93% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Bloom Academy Inc sits at the 89th percentile: it is larger than about 89% of them. Against every charity in United States with reported income it ranks in the 92nd percentile, and in the 94th percentile within TX. Charities of a similar size with the same main cause include Avenue Scholars ($5.0m), Menominee Delta Schoolcraft Community Action Agency ($5.1m) and The Carroll Community College Foundation Inc ($5.0m).

On its Form 990 for the period ending June 2023, revenue came from program service revenue 100% of the total. Other salaries and wages came to $2.4m. At year end it held assets of $9.4m against liabilities of $8.8m, net assets of $597k. It reported 70 employees.