Renaissance Charter School 2

Analysis

Renaissance Charter School 2 is a registered charity in United States, based in Queens, NY. It received its IRS tax-exemption ruling in February 2019, 7 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, Renaissance Charter School 2 reported income of $10.0m and spending of $14.2m, spending 142% of what it took in. Across the 4 years on record, from June 2020 to June 2023, income grew from $1.0m to $10.0m (+883%), an average of +114% a year. The sharpest change came in the year to June 2021, when income rose by 218%. Over the whole period it spent 112% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Renaissance Charter School 2 sits at the 93rd percentile: it is larger than about 93% of them. Against every charity in United States with reported income it ranks in the 95th percentile, and in the 93rd percentile within NY. Charities of a similar size with the same main cause include Five Colleges Incorporated ($10.0m), Ieee Foundation Inc ($10.0m) and Noble Academy ($10.0m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 100% of the total. Compensation of current officers, directors and key employees was $274k (1.9% of expenses). Other salaries and wages came to $3.4m. At year end it held assets of $145.8m against liabilities of $148.3m, net assets of -$2.5m. It reported 61 employees.