Elgin Charter School Initiative

Analysis

Elgin Charter School Initiative is a registered charity in United States, based in Elgin, IL. It received its IRS tax-exemption ruling in April 2014, 12 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 2024, Elgin Charter School Initiative reported income of $7.6m and spending of $8.1m, spending 107% of what it took in. Across the 5 years on record, from June 2020 to June 2024, income grew from $3.5m to $7.6m (+119%), an average of +22% a year. The sharpest change came in the year to June 2021, when income rose by 96%. 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, Elgin Charter School Initiative sits at the 92nd percentile: it is larger than about 92% of them. Against every charity in United States with reported income it ranks in the 94th percentile, and in the 94th percentile within IL. Charities of a similar size with the same main cause include Triad Educational Services Inc ($7.6m), Tahoe Expedition Academy Inc ($7.6m) and International Charter School Corporation ($7.6m).

On its Form 990 for the period ending June 2024, revenue came from contributions and grants 96% and program service revenue 1.4% of the total. Other salaries and wages came to $3.7m. At year end it held assets of $18.5m against liabilities of $16.0m, net assets of $2.5m. It reported 83 employees.