Friends Of@ascend Charter Schools Inc

Analysis

Friends Of@ascend Charter Schools Inc is a registered charity in United States, based in Brooklyn, NY. 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, Friends Of@ascend Charter Schools Inc reported income of $27.6m and spending of $26.5m, spending 96% of its income. Across the 5 years on record, from June 2019 to June 2023, income grew from $10.4m to $27.6m (+166%), an average of +28% a year. The sharpest change came in the year to June 2023, when income rose by 68%. Over the whole period it spent 98% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Friends Of@ascend Charter Schools Inc sits at the 97th percentile: it is larger than about 97% of them. Against every charity in United States with reported income it ranks in the 98th percentile, and in the 97th percentile within NY. Charities of a similar size with the same main cause include Emergency Nurses Association ($27.6m), Union Commonwealth University ($27.6m) and Westside Neighborhood School ($27.6m).

On its Form 990 for the period ending June 2023, revenue came from program service revenue 100% of the total. At year end it held assets of $249.4m against liabilities of $245.2m, net assets of $4.1m.