Steele Creek Charter Education Foundation

Analysis

Steele Creek Charter Education Foundation is a registered charity in United States, based in Charlotte, NC. It received its IRS tax-exemption ruling in March 2020, 6 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, Steele Creek Charter Education Foundation reported income of $6.2m and spending of $6.3m, spending 103% of its income. Across the 4 years on record, from June 2020 to June 2023, income grew from $5.1m to $6.2m (+21%), an average of +6.7% a year. The sharpest change came in the year to June 2022, when income rose by 29%. Over the whole period it spent 106% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Steele Creek Charter Education Foundation sits at the 91st percentile: it is larger than about 90% of them. Against every charity in United States with reported income it ranks in the 93rd percentile, and in the 94th percentile within NC. Charities of a similar size with the same main cause include Insight School of California ($6.2m), Next Generation Academy Inc ($6.2m) and Capital Preparatory Schools Incorporated ($6.2m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 95% and program service revenue 4.4% of the total. Other salaries and wages came to $1.8m. At year end it held assets of $10.7m against liabilities of $12.0m, net assets of -$1.3m.

Data notes from the register: Spending has exceeded income in each of the last three reported years, so the charity has been drawing on reserves or other funds.