Phoenix Education Network Inc

Analysis

Phoenix Education Network Inc is a registered charity in United States, based in Naples, FL. It received its IRS tax-exemption ruling in May 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, Phoenix Education Network Inc reported income of $12.0m and spending of $12.1m, spending 101% of its income. Across the 3 years on record, from June 2021 to June 2023, income grew from $83k to $12.0m (+14413%), an average of +1105% a year. The sharpest change came in the year to June 2022, when income rose by 12493%. Over the whole period it spent 108% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Phoenix Education Network Inc sits at the 94th percentile: it is larger than about 94% of them. Against every charity in United States with reported income it ranks in the 96th percentile, and in the 96th percentile within FL. Charities of a similar size with the same main cause include Entheos Academy ($12.0m), Meshi Early Childhood Development Center ($12.0m) and American Association of University Women Inc ($12.0m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 97% and program service revenue 3.2% of the total. Other salaries and wages came to $4.9m. At year end it held assets of $24.0m against liabilities of $26.5m, net assets of -$2.5m. It reported 160 employees.

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.