Faith Academy Charter School Inc

Analysis

Faith Academy Charter School Inc is a registered charity in United States, based in Salisbury, NC. It received its IRS tax-exemption ruling in April 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 2024, Faith Academy Charter School Inc reported income of $9.1m and spending of $8.8m, spending 96% of its income. Across the 3 years on record, from June 2022 to June 2024, income grew from $5.0m to $9.1m (+84%), an average of +36% a year. The sharpest change came in the year to June 2024, when income rose by 37%. Over the whole period it spent 89% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Faith Academy Charter School Inc sits at the 93rd percentile: it is larger than about 93% of them. Against every charity in United States with reported income it ranks in the 95th percentile, and in the 96th percentile within NC. Charities of a similar size with the same main cause include Zeeland Christian School ($9.1m), Rocketship Education Wisconsin Inc ($9.1m) and Ridgeview Classical Schools ($9.1m).

On its Form 990 for the period ending June 2024, revenue came from contributions and grants 13% and program service revenue 87% of the total. Other salaries and wages came to $3.9m. At year end it held assets of $30.5m against liabilities of $28.2m, net assets of $2.2m. It reported 123 employees.