Transcend Inc

Analysis

Transcend Inc is a registered charity in United States, based in Hastings HDSN, NY. It received its IRS tax-exemption ruling in November 2015, 11 years ago. Its declared purposes cover education, which this site groups under education and training. The IRS classifies it as a publicly supported organisation (donations from the general public) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending June 2023, Transcend Inc reported income of $31.0m and spending of $29.3m, spending 94% of its income. Across the 5 years on record, from June 2019 to June 2023, income grew from $9.6m to $31.0m (+224%), an average of +34% a year. The sharpest change came in the year to June 2022, when income rose by 120%. Over the whole period it spent 70% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Transcend Inc 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 97th percentile within NY. Charities of a similar size with the same main cause include Benjamin Franklin Charter School - Queen Creek ($31.0m), Horatio Alger Association of Distinguished Americans Inc ($31.1m) and Mariana Bracetti Academy Charter School ($31.0m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 59% and program service revenue 36% of the total. Compensation of current officers, directors and key employees was $878k (3.0% of expenses). Other salaries and wages came to $14.1m. It paid $94k in professional fundraising fees. At year end it held assets of $42.3m against liabilities of $1.1m, net assets of $41.2m. It reported 109 employees.