Gray Charter

Analysis

Gray Charter is a registered charity in United States, based in Newark, NJ. It received its IRS tax-exemption ruling in August 1999, 27 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, Gray Charter reported income of $8.2m and spending of $7.7m, spending 94% of its income. Across the 5 years on record, from June 2019 to June 2023, income grew from $6.5m to $8.2m (+27%), an average of +6.1% a year. Over the whole period it spent 97% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Gray Charter sits at the 92nd percentile: it is larger than about 92% of them. Against every charity in United States with reported income it ranks in the 94th percentile, and in the 95th percentile within NJ. Charities of a similar size with the same main cause include Southwest Georgia STEM Charter Inc ($8.2m), Northland Preparatory Academy ($8.2m) and Northwest Academy ($8.2m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 100% of the total. Compensation of current officers, directors and key employees was $445k (5.8% of expenses). Other salaries and wages came to $3.1m. At year end it held assets of $3.3m against liabilities of $270k, net assets of $3.1m. It reported 46 employees.