Asheboro Hybrid Academy

Analysis

Asheboro Hybrid Academy is a registered charity in United States, based in Asheboro, NC. It received its IRS tax-exemption ruling in March 2023, 3 years ago. 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 December 2023, Asheboro Hybrid Academy reported income of $1.1m and spending of $959k, spending 91% of its income. Across the 2 years on record, from December 2022 to December 2023, income grew from $101k to $1.1m (+937%), an average of +937% a year. The sharpest change came in the year to December 2023, when income rose by 937%. Over the whole period it spent 99% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Asheboro Hybrid Academy sits at the 78th percentile: it is larger than about 78% of them. Against every charity in United States with reported income it ranks in the 80th percentile, and in the 80th percentile within NC. Charities of a similar size with the same main cause include Nami Fox Valley Inc ($1.1m), Colorado Latino Leadership and Research Organizaion Inc ($1.1m) and Timber River Connections ($1.1m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 28% and program service revenue 72% of the total. Compensation of current officers, directors and key employees was $115k (12% of expenses). Other salaries and wages came to $375k. At year end it held assets of $188k against liabilities of $0, net assets of $188k. It reported 36 employees.