Academy31 Inc

Analysis

Academy31 Inc is a registered charity in United States, based in Raleigh, NC. It received its IRS tax-exemption ruling in December 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, Academy31 Inc reported income of $241k and spending of $216k, spending 90% of its income. Across the 2 years on record, from June 2023 to June 2024, income fell from $313k to $241k (-23%), an average of -23% a year. The sharpest change came in the year to June 2024, when income dropped by 23%. Over the whole period it spent 44% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Academy31 Inc sits at the 57th percentile: it is larger than about 57% of them. Against every charity in United States with reported income it ranks in the 58th percentile, and in the 56th percentile within NC. Charities of a similar size with the same main cause include West Forsyth Band Boosters Inc ($241k), Ryan Wells Foundation Inc ($241k) and Kreative Kids Faith Academy ($241k).

On its Form 990 for the period ending June 2024, revenue came from contributions and grants 56% and program service revenue 44% of the total. Compensation of current officers, directors and key employees was $51k (24% of expenses). Other salaries and wages came to $85k. At year end it held assets of $177k against liabilities of $13k, net assets of $164k. It reported 3 employees.