Coral Academy of Science Reno

Analysis

Coral Academy of Science Reno is a registered charity in United States, based in Reno, NV. It received its IRS tax-exemption ruling in March 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, Coral Academy of Science Reno reported income of $15.9m and spending of $17.4m, spending 110% of what it took in. Across the 4 years on record, from June 2020 to June 2023, income grew from $9.0m to $15.9m (+77%), an average of +21% a year. The sharpest change came in the year to June 2021, when income rose by 50%. 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, Coral Academy of Science Reno sits at the 95th percentile: it is larger than about 95% of them. Against every charity in United States with reported income it ranks in the 96th percentile, and in the 98th percentile within NV. Charities of a similar size with the same main cause include Samueli Academy ($15.9m), Montserrat College of Art Inc ($15.9m) and Summit School Inc ($15.9m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 93% and program service revenue 4.1% of the total. Compensation of current officers, directors and key employees was $345k (2.0% of expenses). Other salaries and wages came to $7.6m. At year end it held assets of $54.7m against liabilities of $60.0m, net assets of -$5.3m. It reported 199 employees.