Providence Academy

Analysis

Providence Academy is a registered charity in United States, based in Parma, OH. It received its IRS tax-exemption ruling in April 2019, 7 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 2023, Providence Academy reported income of $452k and spending of $440k, spending 97% of its income. Across the 5 years on record, from June 2019 to June 2023, income grew from $45k to $452k (+899%), an average of +78% a year. The sharpest change came in the year to June 2020, when income rose by 164%. Over the whole period it spent 100% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Providence Academy sits at the 67th percentile: it is larger than about 66% of them. Against every charity in United States with reported income it ranks in the 69th percentile, and in the 69th percentile within OH. Charities of a similar size with the same main cause include Lake Washington High School Booster Club ($451k), Technical College of the Lowcountry Foundation Incorporated ($452k) and Read to Succeed Asheville ($451k).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 12% and program service revenue 88% of the total. Compensation of current officers, directors and key employees was $44k (9.9% of expenses). Other salaries and wages came to $165k. At year end it held assets of $30k against liabilities of $33k, net assets of -$2,640. It reported 9 employees.