Harambee Institute Science and Technology Charter

Analysis

Harambee Institute Science and Technology Charter is a registered charity in United States, based in Philadelphia, PA. It received its IRS tax-exemption ruling in November 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, Harambee Institute Science and Technology Charter reported income of $10.0m and spending of $8.4m, spending 84% of its income. Across the 5 years on record, from June 2019 to June 2023, income grew from $7.1m to $10.0m (+40%), an average of +8.8% a year. Over the whole period it spent 90% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Harambee Institute Science and Technology Charter 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 PA. Charities of a similar size with the same main cause include Harding Charter Preparatory School District ($10.0m), Minnesota Math and Science Academy ($10.0m) and Search Day Program ($10.0m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 32% and program service revenue 68% of the total. Compensation of current officers, directors and key employees was $212k (2.5% of expenses). Other salaries and wages came to $3.9m. At year end it held assets of $11.4m against liabilities of $15.1m, net assets of -$3.7m. It reported 72 employees.