Laurus Collegiate Inc

Analysis

Laurus Collegiate Inc is a registered charity in United States, based in Aurora, CO. It received its IRS tax-exemption ruling in October 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, Laurus Collegiate Inc reported income of $10.4m and spending of $11.8m, spending 113% of what it took in. Across the 4 years on record, from June 2020 to June 2023, income grew from $3.6m to $10.4m (+187%), an average of +42% a year. The sharpest change came in the year to June 2022, when income rose by 57%. Over the whole period it spent 106% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Laurus Collegiate Inc 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 96th percentile within CO. Charities of a similar size with the same main cause include Colleyville Covenant Christian Academy ($10.4m), Edreports Org Inc ($10.4m) and Seven Arrows Elementary School ($10.4m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 44% and program service revenue 55% of the total. Compensation of current officers, directors and key employees was $72k (0.6% of expenses). Other salaries and wages came to $4.2m. At year end it held assets of $21.1m against liabilities of $24.6m, net assets of -$3.5m. It reported 113 employees.

Data notes from the register: Spending has exceeded income in each of the last three reported years, so the charity has been drawing on reserves or other funds.