Southside Academy Incorporated

Analysis

Southside Academy Incorporated is a registered charity in United States, based in Rocky Mount, NC. It received its IRS tax-exemption ruling in February 2022, 4 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, Southside Academy Incorporated reported income of $430k and spending of $489k, spending 114% of what it took in. Across the 3 years on record, from June 2022 to June 2024, income grew from $136k to $430k (+216%), an average of +78% a year. The sharpest change came in the year to June 2023, when income rose by 113%. Over the whole period it spent 99% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Southside Academy Incorporated sits at the 66th percentile: it is larger than about 66% of them. Against every charity in United States with reported income it ranks in the 68th percentile, and in the 67th percentile within NC. Charities of a similar size with the same main cause include Marriage for Life Inc ($430k), Mid-Shore Early Learning Center ($430k) and Watts Learning Center Inc ($429k).

On its Form 990 for the period ending June 2024, revenue came from contributions and grants 92% and program service revenue 3.3% of the total. Compensation of current officers, directors and key employees was $100k (20% of expenses). Other salaries and wages came to $233k. At year end it held assets of $8,620 against liabilities of $3,255, net assets of $5,365. It reported 19 employees.