Independence Charter School

Analysis

Independence Charter School is a registered charity in United States, based in Philadelphia, PA. It received its IRS tax-exemption ruling in July 2001, 25 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, Independence Charter School reported income of $17.1m and spending of $18.7m, spending 109% of what it took in. Across the 5 years on record, from June 2019 to June 2023, income grew from $12.8m to $17.1m (+34%), an average of +7.6% 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, Independence Charter School sits at the 96th percentile: it is larger than about 96% of them. Against every charity in United States with reported income it ranks in the 97th percentile, and in the 96th percentile within PA. Charities of a similar size with the same main cause include Parnassus Preparatory School ($17.1m), Ridgeview Global Studies Academy Inc ($17.1m) and Milestones Behavioral Services Inc Payroll-Finance Department ($17.1m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 34% and program service revenue 65% of the total. Compensation of current officers, directors and key employees was $572k (3.1% of expenses). Other salaries and wages came to $6.3m. At year end it held assets of $28.9m against liabilities of $34.4m, net assets of -$5.5m. It reported 159 employees.