Iota Community Schools

Analysis

Iota Community Schools is a registered charity in United States, based in Memphis, TN. It received its IRS tax-exemption ruling in May 2015, 11 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, Iota Community Schools reported income of $35.5m and spending of $32.1m, spending 91% of its income. Across the 5 years on record, from June 2019 to June 2023, income grew from $24.5m to $35.5m (+45%), an average of +9.7% a year. The sharpest change came in the year to June 2022, when income rose by 25%. Over the whole period it spent 94% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Iota Community Schools 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 98th percentile, and in the 98th percentile within TN. Charities of a similar size with the same main cause include Cushing Academy Trustees ($35.4m), Missouri State University Foundation ($35.5m) and Friends of the Children of Mississippi Inc ($35.4m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 100% and program service revenue 0.4% of the total. Compensation of current officers, directors and key employees was $219k (0.7% of expenses). Other salaries and wages came to $14.7m. At year end it held assets of $21.9m against liabilities of $12.3m, net assets of $9.6m. It reported 332 employees.