Elev8 Baltimore Inc

Analysis

Elev8 Baltimore Inc is a registered charity in United States, based in Baltimore, MD. It received its IRS tax-exemption ruling in July 2019, 7 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, Elev8 Baltimore Inc reported income of $6.4m and spending of $5.0m, leaving 22% of income unspent that year. Across the 4 years on record, from June 2020 to June 2023, income grew from $707k to $6.4m (+808%), an average of +109% a year. The sharpest change came in the year to June 2022, when income rose by 320%. Over the whole period it spent 79% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Elev8 Baltimore Inc sits at the 91st percentile: it is larger than about 91% of them. Against every charity in United States with reported income it ranks in the 93rd percentile, and in the 92nd percentile within MD. Charities of a similar size with the same main cause include High School for Recording Arts ($6.4m), Virtual Preparatory Academy of Florida Inc ($6.4m) and Doral Academy of Texas ($6.4m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 67% and program service revenue 33% of the total. Compensation of current officers, directors and key employees was $341k (6.8% of expenses). Other salaries and wages came to $2.2m. At year end it held assets of $3.0m against liabilities of $337k, net assets of $2.6m. It reported 129 employees.