Magic City Acceptance Academy Charter School

Analysis

Magic City Acceptance Academy Charter School is a registered charity in United States, based in Birmingham, AL. 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 September 2023, Magic City Acceptance Academy Charter School reported income of $4.0m and spending of $5.6m, spending 139% of what it took in. Across the 3 years on record, from September 2021 to September 2023, income grew from $702k to $4.0m (+471%), an average of +139% a year. The sharpest change came in the year to September 2022, when income rose by 508%. Over the whole period it spent 112% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Magic City Acceptance Academy Charter School sits at the 88th percentile: it is larger than about 88% of them. Against every charity in United States with reported income it ranks in the 91st percentile, and in the 94th percentile within AL. Charities of a similar size with the same main cause include Sebastopol Independent Charter School Inc ($4.0m), Flex High School Inc ($4.0m) and Regeneration Avondale ($4.0m).

On its Form 990 for the period ending September 2023, revenue came from contributions and grants 100% of the total. Other salaries and wages came to $2.6m. At year end it held assets of $4.9m against liabilities of $5.8m, net assets of -$919k. It reported 57 employees.