Polaris Tech Charter School

Analysis

Polaris Tech Charter School is a registered charity in United States, based in Ridgeland, SC. 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, Polaris Tech Charter School reported income of $4.7m and spending of $5.4m, spending 115% of what it took in. Across the 5 years on record, from June 2019 to June 2023, income grew from $3.4m to $4.7m (+38%), an average of +8.3% a year. The sharpest change came in the year to June 2023, when income rose by 17%. Over the whole period it spent 104% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Polaris Tech Charter School sits at the 89th percentile: it is larger than about 89% of them. Against every charity in United States with reported income it ranks in the 92nd percentile, and in the 94th percentile within SC. Charities of a similar size with the same main cause include Wayne County School Foundation ($4.7m), Ethos Academy a Challenge Foundation Academy Inc ($4.7m) and Chaffey College Foundation ($4.7m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 95% and program service revenue 0.7% of the total. Other salaries and wages came to $2.3m. At year end it held assets of $18.7m against liabilities of $19.2m, net assets of -$508k. It reported 58 employees.