Summit Homeschool Academy

Analysis

Summit Homeschool Academy is a registered charity in United States, based in Castle Rock, CO. It received its IRS tax-exemption ruling in February 2023, 3 years ago. Its declared purposes cover education, which this site groups under education and training. The IRS classifies it as a publicly supported organisation (donations from the general public) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending June 2024, Summit Homeschool Academy reported income of $502k and spending of $356k, leaving 29% of income unspent that year. Across the 2 years on record, from June 2023 to June 2024, income grew from $173k to $502k (+190%), an average of +190% a year. The sharpest change came in the year to June 2024, when income rose by 190%. Over the whole period it spent 86% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Summit Homeschool Academy sits at the 68th percentile: it is larger than about 68% of them. Against every charity in United States with reported income it ranks in the 70th percentile, and in the 68th percentile within CO. Charities of a similar size with the same main cause include Wagner Middle School 167 Parents Association ($502k), Bay Area Leeds ($502k) and Banner Learning Corp - Chicago ($502k).

On its Form 990 for the period ending June 2024, revenue came from contributions and grants 12% and program service revenue 88% of the total. Compensation of current officers, directors and key employees was $65k (18% of expenses). Other salaries and wages came to $165k. At year end it held assets of $176k against liabilities of $82k, net assets of $94k.