Competency-Based Education Network Inc

Analysis

Competency-Based Education Network Inc is a registered charity in United States, based in Franklin, TN. It received its IRS tax-exemption ruling in September 2017, 9 years ago. Its declared purposes cover education, which this site groups under education and training. 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, Competency-Based Education Network Inc reported income of $4.3m and spending of $3.9m, spending 91% of its income. Across the 5 years on record, from June 2019 to June 2023, income grew from $1.1m to $4.3m (+282%), an average of +40% a year. The sharpest change came in the year to June 2022, when income rose by 222%. Over the whole period it spent 102% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Competency-Based Education Network 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 91st percentile, and in the 92nd percentile within TN. Charities of a similar size with the same main cause include Elmwood Academy ($4.3m), Essence Prep Inc ($4.3m) and DSST Public Schools Foundation ($4.3m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 48% and program service revenue 51% of the total. Other salaries and wages came to $967k. At year end it held assets of $3.2m against liabilities of $2.2m, net assets of $1.1m. It reported 6 employees.