Universal Vare Charter School

Analysis

Universal Vare Charter School is a registered charity in United States, based in Philadelphia, PA. It received its IRS tax-exemption ruling in September 2011, 15 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, Universal Vare Charter School reported income of $3.9m and spending of $3.8m, spending 96% of its income. Across the 5 years on record, from June 2019 to June 2023, income fell from $5.3m to $3.9m (-26%), an average of -7.2% a year. The sharpest change came in the year to June 2022, when income rose by 32%. Over the whole period it spent 73% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Universal Vare Charter School sits at the 87th percentile: it is larger than about 87% of them. Against every charity in United States with reported income it ranks in the 91st percentile, and in the 89th percentile within PA. Charities of a similar size with the same main cause include John Hancock Charter School ($3.9m), Missouri Torah Institute ($3.9m) and Philip F Dupont TR Ud for University of Virginia 1028-2 Nect ($3.9m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 43% and program service revenue 56% of the total. Other salaries and wages came to $2.1m. At year end it held assets of $3.1m against liabilities of $3.5m, net assets of -$396k. It reported 49 employees.