Faith House Academy & Early Learning Center

Analysis

Faith House Academy & Early Learning Center is a registered charity in United States, based in Lorain, OH. It received its IRS tax-exemption ruling in April 2022, 4 years ago. Its declared purposes cover human services, which this site groups under poverty relief. The IRS classifies it as a publicly supported organisation (gross receipts test) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, Faith House Academy & Early Learning Center reported income of $332k and spending of $157k, leaving 53% of income unspent that year. Across the 2 years on record, from December 2022 to December 2023, income grew from $30k to $332k (+1005%), an average of +1005% a year. The sharpest change came in the year to December 2023, when income rose by 1005%. Over the whole period it spent 51% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Faith House Academy & Early Learning Center sits at the 58th percentile: it is larger than about 58% of them. Against every charity in United States with reported income it ranks in the 63rd percentile, and in the 63rd percentile within OH. Charities of a similar size with the same main cause include Ventura County Farm to School ($332k), Commissioned Believers Deaf Ministry Inc ($332k) and M3nd Project Inc ($331k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 22% and program service revenue 78% of the total. Compensation of current officers, directors and key employees was $42k (27% of expenses). Other salaries and wages came to $32k. At year end it held assets of $174k against liabilities of $0, net assets of $174k. It reported 5 employees.