Harmony Academy

Analysis

Harmony Academy is a registered charity in United States, based in Marylhurst, OR. It received its IRS tax-exemption ruling in December 2018, 8 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, Harmony Academy reported income of $3.0m and spending of $1.7m, leaving 44% of income unspent that year. Across the 4 years on record, from June 2020 to June 2023, income grew from $760k to $3.0m (+291%), an average of +58% a year. The sharpest change came in the year to June 2023, when income rose by 256%. Over the whole period it spent 73% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Harmony Academy sits at the 85th percentile: it is larger than about 85% of them. Against every charity in United States with reported income it ranks in the 89th percentile, and in the 90th percentile within OR. Charities of a similar size with the same main cause include Fulbright University Vietnam USA Inc ($3.0m), Lighthouse Writers Workshop Inc ($3.0m) and National Association of Scholars Inc ($3.0m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 93% of the total. Compensation of current officers, directors and key employees was $135k (8.1% of expenses). Other salaries and wages came to $631k. At year end it held assets of $1.4m against liabilities of $69k, net assets of $1.3m. It reported 33 employees.