Polaris Charter Academy

Analysis

Polaris Charter Academy is a registered charity in United States, based in Chicago, IL. It received its IRS tax-exemption ruling in March 2008, 18 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 2023, Polaris Charter Academy reported income of $5.9m and spending of $6.4m, spending 110% of what it took in. Across the 5 years on record, from June 2019 to June 2023, income grew from $5.4m to $5.9m (+9.2%), an average of +2.2% a year. The sharpest change came in the year to June 2021, when income rose by 15%. Over the whole period it spent 98% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Polaris Charter Academy sits at the 90th percentile: it is larger than about 90% of them. Against every charity in United States with reported income it ranks in the 93rd percentile, and in the 93rd percentile within IL. Charities of a similar size with the same main cause include Baltimore Symphony Endowment Trust ($5.9m), Shining Stars Montessori Academy Public Charter School ($5.9m) and Prescott Valley Charter Schools ($5.9m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 96% and program service revenue 3.3% of the total. Compensation of current officers, directors and key employees was $246k (3.8% of expenses). Other salaries and wages came to $3.7m. At year end it held assets of $3.0m against liabilities of $102k, net assets of $2.9m. It reported 84 employees.