Varnett Schools Inc

Analysis

Varnett Schools Inc is a registered charity in United States, based in Houston, TX. It received its IRS tax-exemption ruling in July 1997, 29 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 August 2023, Varnett Schools Inc reported income of $18.2m and spending of $18.0m, spending 99% of its income. Across the 5 years on record, from August 2019 to August 2023, income grew from $18.2m to $18.2m (+0.1%), an average of +0.0% a year. The sharpest change came in the year to August 2022, when income rose by 34%. Over the whole period it spent 96% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Varnett Schools 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 97th percentile, and in the 98th percentile within TX. Charities of a similar size with the same main cause include Calumet College ($18.2m), St Pauls Episcopal School ($18.2m) and Lexington Christian Academy Inc ($18.2m).

On its Form 990 for the period ending August 2023, revenue came from contributions and grants 98% and program service revenue 0.7% of the total. Compensation of current officers, directors and key employees was $407k (2.3% of expenses). Other salaries and wages came to $8.8m. At year end it held assets of $27.2m against liabilities of $3.6m, net assets of $23.6m. It reported 200 employees.