Pharos Academy Charter School

Analysis

Pharos Academy Charter School is a registered charity in United States, based in Bronx, NY. It received its IRS tax-exemption ruling in December 2004, 22 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, Pharos Academy Charter School reported income of $16.2m and spending of $16.1m, spending 99% of its income. Across the 5 years on record, from June 2019 to June 2023, income grew from $12.3m to $16.2m (+32%), an average of +7.1% a year. 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, Pharos Academy 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 Legacy Traditional School-Phoenix ($16.2m), Childrens Center of Hamden Inc ($16.2m) and Give Something Back ($16.2m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 18% and program service revenue 81% of the total. Compensation of current officers, directors and key employees was $858k (5.3% of expenses). Other salaries and wages came to $7.1m. At year end it held assets of $20.8m against liabilities of $12.3m, net assets of $8.5m. It reported 104 employees.