Charter Institute at Erskine

Analysis

Charter Institute at Erskine is a registered charity in United States, based in Columbia, SC. It received its IRS tax-exemption ruling in March 2019, 7 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, Charter Institute at Erskine reported income of $244.3m and spending of $242.7m, spending 99% of its income. Across the 5 years on record, from June 2019 to June 2023, income grew from $78.5m to $244.3m (+211%), an average of +33% a year. The sharpest change came in the year to June 2021, when income rose by 122%. Over the whole period it spent 100% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Charter Institute at Erskine sits at the 100th percentile: it is one of the largest 1% in its cause. Against every charity in United States with reported income it ranks in the 100th percentile, and in the 100th percentile within SC. Charities of a similar size with the same main cause include Pomona College ($243.7m), Stetson University Inc ($245.2m) and Widener University ($243.6m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 98% and program service revenue 1.7% of the total. Compensation of current officers, directors and key employees was $761k (0.3% of expenses). Other salaries and wages came to $2.3m. At year end it held assets of $11.9m against liabilities of $8.0m, net assets of $3.9m. It reported 42 employees.