Riverhead Charter School

Analysis

Riverhead Charter School is a registered charity in United States, based in Calverton, NY. It received its IRS tax-exemption ruling in June 2002, 24 years ago. Its declared purposes cover education, which this site groups under education and training. 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 June 2023, Riverhead Charter School reported income of $16.7m and spending of $15.7m, spending 94% of its income. Across the 4 years on record, from June 2020 to June 2023, income grew from $11.3m to $16.7m (+48%), an average of +14% a year. The sharpest change came in the year to June 2023, when income rose by 16%. Over the whole period it spent 89% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Riverhead Charter School sits at the 95th percentile: it is larger than about 95% of them. Against every charity in United States with reported income it ranks in the 97th percentile, and in the 95th percentile within NY. Charities of a similar size with the same main cause include Geo Academies Ebr ($16.7m), Bold City Education Inc ($16.7m) and Lifeline Education Charter School I Inc ($16.7m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 4.8% and program service revenue 95% of the total. Other salaries and wages came to $7.7m. At year end it held assets of $39.0m against liabilities of $22.9m, net assets of $16.1m. It reported 144 employees.