Renaissance Scholarships Inc

Analysis

Renaissance Scholarships Inc is a registered charity in United States, based in Birmingham, AL. It received its IRS tax-exemption ruling in February 2016, 10 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 December 2023, Renaissance Scholarships Inc reported income of $2.1m and spending of $797k, leaving 62% of income unspent that year. Across the 5 years on record, from December 2019 to December 2023, income grew from $485k to $2.1m (+327%), an average of +44% a year. The sharpest change came in the year to December 2022, when income rose by 157%. Over the whole period it spent 52% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Renaissance Scholarships Inc sits at the 82nd percentile: it is larger than about 82% of them. Against every charity in United States with reported income it ranks in the 86th percentile, and in the 90th percentile within AL. Charities of a similar size with the same main cause include The Institute for Educational Advancement ($2.1m), North Georgia Christian Academy Inc ($2.1m) and Southern Maine Community College Foundation ($2.1m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 97% of the total. At year end it held assets of $3.3m against liabilities of $0, net assets of $3.3m.