Independence School Inc

Analysis

Independence School Inc is a registered charity in United States, based in Newark, DE. It received its IRS tax-exemption ruling in December 1979, 47 years ago. 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, Independence School Inc reported income of $12.3m and spending of $11.8m, spending 96% of its income. Across the 4 years on record, from June 2020 to June 2023, income grew from $9.7m to $12.3m (+26%), an average of +8.1% a year. Over the whole period it spent 93% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Independence School Inc sits at the 96th percentile: it is larger than about 96% of them. Against every charity in United States with reported income it ranks in the 96th percentile, and in the 96th percentile within DE. Charities of a similar size with the same main cause include Gaamha Inc ($12.3m), Coalition for Christian Outreach ($12.3m) and M I K I D Mentally Ill Kids in Distress ($12.3m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 15% and program service revenue 77% of the total. Compensation of current officers, directors and key employees was $415k (3.5% of expenses). Other salaries and wages came to $4.5m. It paid $1,000 in professional fundraising fees. At year end it held assets of $26.8m against liabilities of $8.4m, net assets of $18.4m. It reported 125 employees.