Summit Creek Academy

Analysis

Summit Creek Academy is a registered charity in United States, based in Browns Summit, NC. It received its IRS tax-exemption ruling in December 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 Creek Academy reported income of $7.9m and spending of $7.9m, spending 100% of its income. Across the 2 years on record, from June 2022 to June 2023, income grew from $6.3m to $7.9m (+25%), an average of +25% a year. The sharpest change came in the year to June 2023, when income rose by 25%. 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, Summit Creek Academy sits at the 92nd percentile: it is larger than about 92% of them. Against every charity in United States with reported income it ranks in the 94th percentile, and in the 95th percentile within NC. Charities of a similar size with the same main cause include The or Foundation Ltd ($7.9m), Southeast Oklahoma Library System ($7.9m) and Exploration Elementary Charter School for Science and Technology ($7.9m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 85% and program service revenue 15% of the total. Other salaries and wages came to $2.6m. At year end it held assets of $1.4m against liabilities of $1.4m, net assets of $25k.