LG Academy a NJ Nonprofit Corporation

Analysis

LG Academy a NJ Nonprofit Corporation is a registered charity in United States, based in Boonton, NJ. It received its IRS tax-exemption ruling in March 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, LG Academy a NJ Nonprofit Corporation reported income of $550k and spending of $544k, spending 99% of its income. Across the 3 years on record, from June 2021 to June 2023, income grew from $379k to $550k (+45%), an average of +20% a year. The sharpest change came in the year to June 2022, when income rose by 36%. Over the whole period it spent 100% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, LG Academy a NJ Nonprofit Corporation sits at the 69th percentile: it is larger than about 69% of them. Against every charity in United States with reported income it ranks in the 72nd percentile, and in the 76th percentile within NJ. Charities of a similar size with the same main cause include Mice K12 ($550k), Great Lakes Education Foundation ($550k) and Athens-Limestone Public Library Foundation Inc ($550k).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 42% and program service revenue 57% of the total. Other salaries and wages came to $395k. At year end it held assets of $89k against liabilities of $68k, net assets of $21k. It reported 18 employees.