Believe Schools Inc

Analysis

Believe Schools Inc is a registered charity in United States, based in Indianapolis, IN. It received its IRS tax-exemption ruling in March 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, Believe Schools Inc reported income of $4.5m and spending of $4.5m, spending 100% of its income. Across the 4 years on record, from June 2019 to June 2023, income grew from $295k to $4.5m (+1420%), an average of +148% a year. The sharpest change came in the year to June 2021, when income rose by 497%. Over the whole period it spent 96% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Believe Schools Inc sits at the 88th percentile: it is larger than about 88% of them. Against every charity in United States with reported income it ranks in the 91st percentile, and in the 92nd percentile within IN. Charities of a similar size with the same main cause include Episcopal School of Nashville ($4.5m), Pinnacle Education Services ($4.5m) and Soho Center for Arts and Education Inc ($4.5m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 99% of the total. Compensation of current officers, directors and key employees was $174k (3.9% of expenses). Other salaries and wages came to $1.6m. At year end it held assets of $4.4m against liabilities of $3.8m, net assets of $595k. It reported 36 employees.