Philips Academy Charter School of Paterson Inc

Analysis

Philips Academy Charter School of Paterson Inc is a registered charity in United States, based in Paterson, NJ. It received its IRS tax-exemption ruling in June 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, Philips Academy Charter School of Paterson Inc reported income of $12.8m and spending of $12.1m, spending 95% of its income. Across the 5 years on record, from June 2019 to June 2023, income grew from $3.1m to $12.8m (+316%), an average of +43% a year. The sharpest change came in the year to June 2020, when income rose by 59%. 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, Philips Academy Charter School of Paterson Inc sits at the 94th percentile: it is larger than about 94% of them. Against every charity in United States with reported income it ranks in the 96th percentile, and in the 97th percentile within NJ. Charities of a similar size with the same main cause include Sunshine Cottage School for Deaf Children ($12.8m), Miami Community Charter School Inc ($12.8m) and Rainbow Rising ($12.8m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 100% and program service revenue 0.0% of the total. Other salaries and wages came to $6.0m. At year end it held assets of $2.6m against liabilities of $28k, net assets of $2.5m. It reported 131 employees.