Great Oaks Academy

Analysis

Great Oaks Academy is a registered charity in United States, based in Farmington, MN. It received its IRS tax-exemption ruling in October 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, Great Oaks Academy reported income of $3.7m and spending of $3.6m, spending 97% of its income. Across the 4 years on record, from June 2020 to June 2023, income grew from $115k to $3.7m (+3107%), an average of +218% a year. The sharpest change came in the year to June 2021, when income rose by 929%. Over the whole period it spent 90% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Great Oaks Academy sits at the 87th percentile: it is larger than about 87% of them. Against every charity in United States with reported income it ranks in the 90th percentile, and in the 90th percentile within MN. Charities of a similar size with the same main cause include Environmental and Spatial Technology Inc ($3.7m), Colorado League of Charter Schools ($3.7m) and West Virginia State University Foundation Inc ($3.7m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 100% and program service revenue 0.3% of the total. Compensation of current officers, directors and key employees was $158k (4.4% of expenses). Other salaries and wages came to $1.4m. At year end it held assets of $6.2m against liabilities of $6.1m, net assets of $160k. It reported 51 employees.