Asheville Peak Academy

Analysis

Asheville Peak Academy is a registered charity in United States, based in Asheville, NC. It received its IRS tax-exemption ruling in March 2020, 6 years ago. 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, Asheville Peak Academy reported income of $2.2m and spending of $2.4m, spending 110% of what it took in. Across the 3 years on record, from June 2021 to June 2023, income grew from $303k to $2.2m (+635%), an average of +171% a year. The sharpest change came in the year to June 2022, when income rose by 607%. Over the whole period it spent 93% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Asheville Peak Academy sits at the 86th percentile: it is larger than about 86% of them. Against every charity in United States with reported income it ranks in the 87th percentile, and in the 88th percentile within NC. Charities of a similar size with the same main cause include Gospel Missions of India ($2.2m), Putnam Northern Westchester Womens Resource Center Inc ($2.2m) and The Jonnycake Center Inc ($2.2m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 97% of the total. Compensation of current officers, directors and key employees was $104k (4.3% of expenses). Other salaries and wages came to $1.1m. At year end it held assets of $615k against liabilities of $296k, net assets of $319k.