Bright Minds Academy Inc

Analysis

Bright Minds Academy 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 human services, which this site groups under poverty relief. The IRS classifies it as a publicly supported organisation (gross receipts test) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, Bright Minds Academy Inc reported income of $1.9m and spending of $574k, leaving 71% of income unspent that year. Across the 2 years on record, from December 2022 to December 2023, income grew from $1.7m to $1.9m (+16%), an average of +16% a year. The sharpest change came in the year to December 2023, when income rose by 16%. Over the whole period it spent 53% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Bright Minds Academy Inc sits at the 83rd percentile: it is larger than about 83% of them. Against every charity in United States with reported income it ranks in the 86th percentile, and in the 86th percentile within IN. Charities of a similar size with the same main cause include Providence Network ($1.9m), Grand Rapids Downtown Market Education Foundation ($1.9m) and Family Ties of West Chester Inc ($1.9m).

On its Form 990 for the period ending December 2023, revenue came from program service revenue 100% of the total. Other salaries and wages came to $95k. At year end it held assets of $428k against liabilities of $0, net assets of $428k.