I3 Academy

Analysis

I3 Academy is a registered charity in United States, based in Birmingham, AL. It received its IRS tax-exemption ruling in May 2023, 3 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 September 2022, I3 Academy reported income of $9.9m and spending of $9.8m, spending 99% of its income. Across the 3 years on record, from December 2019 to September 2022, income grew from $1.1m to $9.9m (+837%), an average of +206% a year. The sharpest change came in the year to September 2021, when income rose by 781%. 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, I3 Academy sits at the 93rd percentile: it is larger than about 93% of them. Against every charity in United States with reported income it ranks in the 95th percentile, and in the 97th percentile within AL. Charities of a similar size with the same main cause include Pace School ($9.9m), Grand View Christian School Association Inc ($9.9m) and Georgia Gwinnett College Foundationinc ($9.9m).

On its Form 990 for the period ending September 2022, revenue came from contributions and grants 97% and program service revenue 0.5% of the total. Compensation of current officers, directors and key employees was $413k (4.2% of expenses). Other salaries and wages came to $4.5m. At year end it held assets of $1.7m against liabilities of $1.8m, net assets of -$95k.