Language Lab Academy

Analysis

Language Lab Academy is a registered charity in United States, based in Frisco, TX. It received its IRS tax-exemption ruling in October 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 December 2023, Language Lab Academy reported income of $327k and spending of $243k, leaving 26% of income unspent that year. Across the 2 years on record, from December 2022 to December 2023, income grew from $200k to $327k (+64%), an average of +64% a year. The sharpest change came in the year to December 2023, when income rose by 64%. Over the whole period it spent 50% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Language Lab Academy sits at the 62nd percentile: it is larger than about 62% of them. Against every charity in United States with reported income it ranks in the 63rd percentile, and in the 68th percentile within TX. Charities of a similar size with the same main cause include Vocational Technical Educational Foundation of Delaware ($327k), Eat on the Wildside ($327k) and North Berkshire Community Television Corporation Inc ($327k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 24% and program service revenue 76% of the total. Other salaries and wages came to $107k. At year end it held assets of $339k against liabilities of $79k, net assets of $260k. It reported 7 employees.