Storefront Academy Charter School South Bronx

Analysis

Storefront Academy Charter School South Bronx is a registered charity in United States, based in Bronx, NY. It received its IRS tax-exemption ruling in August 2016, 10 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, Storefront Academy Charter School South Bronx reported income of $9.2m and spending of $9.5m, spending 104% of its income. Across the 5 years on record, from June 2019 to June 2023, income grew from $4.8m to $9.2m (+91%), an average of +18% a year. The sharpest change came in the year to June 2020, when income rose by 76%. Over the whole period it spent 95% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Storefront Academy Charter School South Bronx sits at the 93rd percentile: it is larger than about 93% of them. Against every charity in United States with reported income it ranks in the 95th percentile, and in the 93rd percentile within NY. Charities of a similar size with the same main cause include Erskine Academy ($9.2m), New Opportunities Organization ($9.2m) and El Paso Leadership Academy ($9.2m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 18% and program service revenue 82% of the total. Compensation of current officers, directors and key employees was $394k (4.1% of expenses). Other salaries and wages came to $4.4m. At year end it held assets of $7.7m against liabilities of $6.0m, net assets of $1.7m. It reported 113 employees.