William L Gilbert School Corp

Analysis

William L Gilbert School Corp is a registered charity in United States, based in Winsted, CT. It received its IRS tax-exemption ruling in June 1991, 35 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, William L Gilbert School Corp reported income of $9.0m and spending of $9.3m, spending 103% of its income. Across the 5 years on record, from June 2019 to June 2023, income grew from $8.0m to $9.0m (+12%), an average of +2.8% a year. Over the whole period it spent 101% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, William L Gilbert School Corp sits at the 93rd percentile: it is larger than about 93% of them. Against every charity in United States with reported income it ranks in the 95th percentile, and in the 94th percentile within CT. Charities of a similar size with the same main cause include Maker Learning Network ($9.0m), Thrivepoint High School ($9.0m) and Hope Community Public Charter School ($9.0m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 6.3% and program service revenue 94% of the total. Compensation of current officers, directors and key employees was $233k (2.5% of expenses). Other salaries and wages came to $5.3m. At year end it held assets of $8.9m against liabilities of $736k, net assets of $8.2m. It reported 133 employees.

Data notes from the register: Spending has exceeded income in each of the last three reported years, so the charity has been drawing on reserves or other funds.