South Carolina Virtual Charter School

Analysis

South Carolina Virtual Charter School is a registered charity in United States, based in West Columbia, SC. It received its IRS tax-exemption ruling in October 2010, 16 years ago. Its declared purposes cover education, which this site groups under education and training. The IRS classifies it as a publicly supported organisation (gross receipts test) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending June 2023, South Carolina Virtual Charter School reported income of $30.8m and spending of $23.1m, leaving 25% of income unspent that year. Across the 4 years on record, from June 2020 to June 2023, income grew from $25.3m to $30.8m (+22%), an average of +6.8% a year. The sharpest change came in the year to June 2021, when income rose by 50%. Over the whole period it spent 88% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, South Carolina Virtual Charter School sits at the 97th percentile: it is larger than about 97% of them. Against every charity in United States with reported income it ranks in the 98th percentile, and in the 99th percentile within SC. Charities of a similar size with the same main cause include Wesleyan College ($30.8m), U C Santa Cruz Foundation ($30.8m) and Council of Chief State School Officers ($30.7m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 98% and program service revenue 0.3% of the total. Compensation of current officers, directors and key employees was $386k (1.7% of expenses). Other salaries and wages came to $12.5m. At year end it held assets of $32.5m against liabilities of $42.8m, net assets of -$10.3m. It reported 206 employees.