Summit Classical Academy Inc

Analysis

Summit Classical Academy Inc is a registered charity in United States, based in Broomfield, CO. It received its IRS tax-exemption ruling in May 2021, 5 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, Summit Classical Academy Inc reported income of $1.1m and spending of $839k, leaving 20% of income unspent that year. Across the 4 years on record, from June 2020 to June 2023, income grew from $84k to $1.1m (+1157%), an average of +132% a year. The sharpest change came in the year to June 2021, when income rose by 325%. Over the whole period it spent 82% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Summit Classical Academy Inc sits at the 76th percentile: it is larger than about 76% of them. Against every charity in United States with reported income it ranks in the 80th percentile, and in the 79th percentile within CO. Charities of a similar size with the same main cause include Raritan Valley Community College Foundation ($1.0m), Kings Kids Christian Academy of Tampa Inc ($1.1m) and Erie Center for Arts and Technology Inc ($1.0m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 25% and program service revenue 75% of the total. Other salaries and wages came to $416k. At year end it held assets of $433k against liabilities of $8,269, net assets of $425k. It reported 21 employees.