Discovery Charter School Inc

Analysis

Discovery Charter School Inc is a registered charity in United States, based in Newark, NJ. It received its IRS tax-exemption ruling in September 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, Discovery Charter School Inc reported income of $2.7m and spending of $2.6m, spending 95% of its income. Across the 5 years on record, from June 2019 to June 2023, income grew from $2.0m to $2.7m (+35%), an average of +7.9% a year. The sharpest change came in the year to June 2022, when income rose by 21%. 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, Discovery Charter School Inc sits at the 85th percentile: it is larger than about 84% of them. Against every charity in United States with reported income it ranks in the 88th percentile, and in the 90th percentile within NJ. Charities of a similar size with the same main cause include Chicago Arts Partnerships in Education ($2.7m), Hilltop Montessori School Inc ($2.7m) and Oakland Leaf Foundation ($2.7m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 98% and program service revenue 0.0% of the total. Compensation of current officers, directors and key employees was $90k (3.5% of expenses). Other salaries and wages came to $927k. At year end it held assets of $989k against liabilities of $234k, net assets of $755k. It reported 19 employees.