Soaring Heights Charter School

Analysis

Soaring Heights Charter School is a registered charity in United States, based in Jersey City, NJ. It received its IRS tax-exemption ruling in December 1996, 30 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, Soaring Heights Charter School reported income of $6.6m and spending of $4.9m, leaving 25% of income unspent that year. Across the 5 years on record, from June 2019 to June 2023, income grew from $3.7m to $6.6m (+78%), an average of +16% a year. The sharpest change came in the year to June 2022, when income rose by 40%. Over the whole period it spent 84% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Soaring Heights Charter School sits at the 91st percentile: it is larger than about 91% of them. Against every charity in United States with reported income it ranks in the 93rd percentile, and in the 94th percentile within NJ. Charities of a similar size with the same main cause include University Student Center of California State Univ Stanislaus ($6.6m), United States Merchant Marine Academy Alumni Association and Fou ($6.6m) and University of Florida Investment Corporation ($6.6m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 95% and program service revenue 3.0% of the total. Other salaries and wages came to $2.2m. At year end it held assets of $5.7m against liabilities of $2.7m, net assets of $3.0m. It reported 25 employees.