Summit Classical Charter School Inc

Analysis

Summit Classical Charter School Inc is a registered charity in United States, based in Columbia, SC. It received its IRS tax-exemption ruling in July 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, Summit Classical Charter School Inc reported income of $1.5m and spending of $1.6m, spending 106% of what it took in. Across the 5 years on record, from June 2019 to June 2023, income grew from $215k to $1.5m (+592%), an average of +62% a year. The sharpest change came in the year to June 2020, when income rose by 350%. Over the whole period it spent 101% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Summit Classical Charter School Inc sits at the 80th percentile: it is larger than about 80% of them. Against every charity in United States with reported income it ranks in the 83rd percentile, and in the 86th percentile within SC. Charities of a similar size with the same main cause include Project Grad Akron ($1.5m), Tackle Tomorrow LLC ($1.5m) and Jefferson County Christian School Inc ($1.5m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 98% and program service revenue 2.3% of the total. Other salaries and wages came to $648k. At year end it held assets of $769k against liabilities of $847k, net assets of -$77k. It reported 14 employees.