Denovo Inc

Analysis

Denovo Inc is a registered charity in United States, based in Margate, FL. It received its IRS tax-exemption ruling in October 2017, 9 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, Denovo Inc reported income of $3.0m and spending of $2.2m, leaving 29% of income unspent that year. Across the 5 years on record, from June 2019 to June 2023, income grew from $1.9m to $3.0m (+57%), an average of +12% a year. The sharpest change came in the year to June 2023, when income rose by 39%. 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, Denovo Inc sits at the 85th percentile: it is larger than about 85% of them. Against every charity in United States with reported income it ranks in the 89th percentile, and in the 90th percentile within FL. Charities of a similar size with the same main cause include American Career College Educational Foundation ($3.0m), Classical Academy Charter School of Clifton Inc ($3.0m) and Coastal High School ($3.0m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 14% and program service revenue 60% of the total. Other salaries and wages came to $818k. At year end it held assets of $5.5m against liabilities of $5.2m, net assets of $262k. It reported 21 employees.