Side by Side Charter School Inc

Analysis

Side by Side Charter School Inc is a registered charity in United States, based in Norwalk, CT. It received its IRS tax-exemption ruling in February 1993, 33 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, Side by Side Charter School Inc reported income of $3.4m and spending of $3.7m, spending 108% of what it took in. Across the 5 years on record, from June 2019 to June 2023, income fell from $5.1m to $3.4m (-34%), an average of -9.9% a year. The sharpest change came in the year to June 2020, when income dropped by 42%. Over the whole period it spent 96% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Side by Side Charter School Inc sits at the 86th percentile: it is larger than about 86% of them. Against every charity in United States with reported income it ranks in the 90th percentile, and in the 88th percentile within CT. Charities of a similar size with the same main cause include First Christian Academy & Learningcenter Inc ($3.4m), Caribbean Impact Ministries ($3.4m) and Shulamith School for Girls of Brooklyn ($3.4m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 12% and program service revenue 88% of the total. Compensation of current officers, directors and key employees was $646k (18% of expenses). Other salaries and wages came to $1.6m. At year end it held assets of $6.1m against liabilities of $1.6m, net assets of $4.5m. It reported 55 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.