Lake Norman Charter School Inc

Analysis

Lake Norman Charter School Inc is a registered charity in United States, based in Rutherfordton, NC. It received its IRS tax-exemption ruling in February 1999, 27 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, Lake Norman Charter School Inc reported income of $29.2m and spending of $24.5m, spending 84% of its income. Across the 5 years on record, from June 2019 to June 2023, income grew from $20.4m to $29.2m (+43%), an average of +9.4% a year. Over the whole period it spent 93% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Lake Norman Charter School Inc sits at the 97th percentile: it is larger than about 97% of them. Against every charity in United States with reported income it ranks in the 98th percentile, and in the 98th percentile within NC. Charities of a similar size with the same main cause include Sunbelt Human Advancement Resources Inc ($29.1m), Reach Out and Read Inc ($29.2m) and Bergen Arts and Science Charter School ($29.0m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 76% and program service revenue 5.7% of the total. At year end it held assets of $69.2m against liabilities of $72.0m, net assets of -$2.7m. It reported 321 employees.