Lamad Academy Charter School

Analysis

Lamad Academy Charter School is a registered charity in United States, based in Brooklyn, NY. It received its IRS tax-exemption ruling in January 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, Lamad Academy Charter School reported income of $4.8m and spending of $4.2m, spending 89% of its income. Across the 4 years on record, from June 2020 to June 2023, income grew from $1.2m to $4.8m (+300%), an average of +59% a year. The sharpest change came in the year to June 2023, when income rose by 99%. Over the whole period it spent 93% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Lamad Academy Charter School sits at the 89th percentile: it is larger than about 89% of them. Against every charity in United States with reported income it ranks in the 92nd percentile, and in the 89th percentile within NY. Charities of a similar size with the same main cause include Finishing Trades Institute of New York ($4.8m), Allegany Community College Foundation Inc ($4.8m) and Kittitas Conservation Trust ($4.8m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 18% and program service revenue 82% of the total. Compensation of current officers, directors and key employees was $452k (11% of expenses). Other salaries and wages came to $1.7m. At year end it held assets of $1.4m against liabilities of $794k, net assets of $655k. It reported 42 employees.