Hope Academy Inc

Analysis

Hope Academy Inc is a registered charity in United States, based in Indianapolis, IN. It received its IRS tax-exemption ruling in November 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, Hope Academy Inc reported income of $1.9m and spending of $2.1m, spending 110% of what it took in. Across the 3 years on record, from June 2021 to June 2023, income fell from $2.0m to $1.9m (-4.5%), an average of -2.3% a year. Over the whole period it spent 103% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Hope Academy Inc sits at the 82nd percentile: it is larger than about 82% of them. Against every charity in United States with reported income it ranks in the 85th percentile, and in the 86th percentile within IN. Charities of a similar size with the same main cause include American Leadership Forum ($1.9m), Christ Preparatory Academy Inc ($1.9m) and Kids Who Count ($1.9m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 94% and program service revenue 1.5% of the total. Compensation of current officers, directors and key employees was $113k (5.5% of expenses). Other salaries and wages came to $875k. At year end it held assets of $2.1m against liabilities of $1.4m, net assets of $683k. It reported 33 employees.