Philips Academy Charter School Inc

Analysis

Philips Academy Charter School Inc is a registered charity in United States, based in Newark, NJ. It received its IRS tax-exemption ruling in July 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 2023, Philips Academy Charter School Inc reported income of $14.1m and spending of $14.0m, spending 100% of its income. Across the 5 years on record, from June 2019 to June 2023, income grew from $7.9m to $14.1m (+78%), an average of +16% a year. The sharpest change came in the year to June 2022, when income rose by 42%. Over the whole period it spent 100% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Philips Academy Charter School Inc sits at the 95th percentile: it is larger than about 95% of them. Against every charity in United States with reported income it ranks in the 96th percentile, and in the 97th percentile within NJ. Charities of a similar size with the same main cause include Isucceed Virtual High School Inc ($14.1m), Harding Academy ($14.1m) and Options for Youth-Victor Valley Inc ($14.1m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 99% and program service revenue 1.1% of the total. Other salaries and wages came to $6.7m. At year end it held assets of $2.0m against liabilities of $1.7m, net assets of $298k. It reported 127 employees.