Salem Academy Charter School Foundation Inc

Analysis

Salem Academy Charter School Foundation Inc is a registered charity in United States, based in Salem, MA. It received its IRS tax-exemption ruling in September 2003, 23 years ago. Its declared purposes cover education, which this site groups under education and training. The IRS classifies it as a publicly supported organisation (donations from the general public) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending June 2024, Salem Academy Charter School Foundation Inc reported income of $1.1m and spending of $742k, leaving 33% of income unspent that year. Across the 5 years on record, from June 2019 to June 2024, income grew from $660k to $1.1m (+67%), an average of +14% a year. The sharpest change came in the year to June 2022, when income rose by 119%. Over the whole period it spent 72% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Salem Academy Charter School Foundation Inc sits at the 77th percentile: it is larger than about 76% of them. Against every charity in United States with reported income it ranks in the 80th percentile, and in the 79th percentile within MA. Charities of a similar size with the same main cause include Donnelly College Real Estate Holdings Inc ($1.1m), Second Ward High School National Alumni Foundation ($1.1m) and Nativity Preparatory School New Bedford Inc ($1.1m).

On its Form 990 for the period ending June 2024, revenue came from contributions and grants 97% of the total. At year end it held assets of $1.3m against liabilities of $1,426, net assets of $1.3m.