Ednovate Inc

Analysis

Ednovate Inc is a registered charity in United States, based in Los Angeles, CA. It received its IRS tax-exemption ruling in September 2013, 13 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, Ednovate Inc reported income of $50.7m and spending of $47.8m, spending 94% of its income. Across the 5 years on record, from June 2019 to June 2023, income grew from $25.7m to $50.7m (+98%), an average of +18% a year. The sharpest change came in the year to June 2022, when income rose by 33%. Over the whole period it spent 91% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Ednovate Inc sits at the 98th percentile: it is larger than about 98% of them. Against every charity in United States with reported income it ranks in the 99th percentile, and in the 99th percentile within CA. Charities of a similar size with the same main cause include Darlington School ($50.7m), Greater Atlanta Christian Schools Inc ($50.8m) and Ilead California Charters 1 ($50.5m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 100% of the total. Compensation of current officers, directors and key employees was $1.2m (2.6% of expenses). Other salaries and wages came to $19.0m. At year end it held assets of $88.0m against liabilities of $60.2m, net assets of $27.7m. It reported 324 employees.