Hobgood Academy Charter School Inc

Analysis

Hobgood Academy Charter School Inc is a registered charity in United States, based in Hobgood, NC. It received its IRS tax-exemption ruling in March 2020, 6 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, Hobgood Academy Charter School Inc reported income of $5.3m and spending of $4.4m, spending 83% of its income. Across the 4 years on record, from June 2020 to June 2023, income grew from $2.1m to $5.3m (+158%), an average of +37% a year. The sharpest change came in the year to June 2021, when income rose by 49%. Over the whole period it spent 84% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Hobgood Academy Charter School Inc sits at the 90th percentile: it is larger than about 90% of them. Against every charity in United States with reported income it ranks in the 92nd percentile, and in the 93rd percentile within NC. Charities of a similar size with the same main cause include Alturas International Academy Inc ($5.3m), Bountiful Community Food Pantry ($5.3m) and BRCC Facilities Corporation ($5.3m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 6.2% and program service revenue 94% of the total. Other salaries and wages came to $2.3m. At year end it held assets of $2.7m against liabilities of $365k, net assets of $2.4m. It reported 83 employees.