Midland Innovation & Technology Charter School

Analysis

Midland Innovation & Technology Charter School is a registered charity in United States, based in Midland, PA. It received its IRS tax-exemption ruling in June 2021, 5 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, Midland Innovation & Technology Charter School reported income of $2.5m and spending of $3.8m, spending 154% of what it took in. Across the 2 years on record, from June 2022 to June 2023, income grew from $961k to $2.5m (+159%), an average of +159% a year. The sharpest change came in the year to June 2023, when income rose by 159%. Over the whole period it spent 139% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Midland Innovation & Technology Charter School sits at the 84th percentile: it is larger than about 84% of them. Against every charity in United States with reported income it ranks in the 88th percentile, and in the 86th percentile within PA. Charities of a similar size with the same main cause include Sicangu Owayawa Oti-Rosebud Dormitory ($2.5m), Lutheran High School Association of Greater Milwaukee Foundation ($2.5m) and Cape Romain Environmental Education Charter School ($2.5m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 34% and program service revenue 66% of the total. Compensation of current officers, directors and key employees was $232k (6.1% of expenses). Other salaries and wages came to $821k. At year end it held assets of $3.1m against liabilities of $4.7m, net assets of -$1.5m. It reported 29 employees.