Arete Education Inc

Analysis

Arete Education Inc is a registered charity in United States, based in Bronx, NY. It received its IRS tax-exemption ruling in September 2012, 14 years ago. Its declared purposes cover youth development, which this site groups under children and youth development. 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 June 2023, Arete Education Inc reported income of $1.2m and spending of $1.3m, spending 107% of what it took in. Across the 5 years on record, from December 2019 to June 2023, income fell from $1.6m to $1.2m (-26%), an average of -7.2% a year. The sharpest change came in the year to June 2023, when income rose by 73%. Over the whole period it spent 102% of the income it received.

Among 14,332 United States charities whose main cause is children and youth development and that reported income, Arete Education Inc sits at the 88th percentile: it is larger than about 88% of them. Against every charity in United States with reported income it ranks in the 81st percentile, and in the 77th percentile within NY. Charities of a similar size with the same main cause include Progressive Agriculture Foundation ($1.2m), International Soap Box Derby Inc ($1.2m) and Youth for Christ USA Inc ($1.2m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 99% and program service revenue 0.8% of the total. Compensation of current officers, directors and key employees was $163k (13% of expenses). Other salaries and wages came to $617k. At year end it held assets of $832k against liabilities of $471k, net assets of $361k. It reported 137 employees.