Rising Star Academy of NJ a NJ Nonprofit Corporation

Analysis

Rising Star Academy of NJ a NJ Nonprofit Corporation is a registered charity in United States, based in Union City, NJ. It received its IRS tax-exemption ruling in July 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 December 2023, Rising Star Academy of NJ a NJ Nonprofit Corporation reported income of $1.5m and spending of $1.4m, spending 88% of its income. Across the 3 years on record, from December 2021 to December 2023, income grew from $947k to $1.5m (+62%), an average of +27% a year. The sharpest change came in the year to December 2023, when income rose by 49%. Over the whole period it spent 92% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Rising Star Academy of NJ a NJ Nonprofit Corporation 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 84th percentile, and in the 86th percentile within NJ. Charities of a similar size with the same main cause include Magdalene College Foundation ($1.5m), Three3 Inc ($1.5m) and National Institute for Medical Assistant Advancement Inc ($1.5m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 36% and program service revenue 64% of the total. Other salaries and wages came to $730k. At year end it held assets of $730k against liabilities of $1,129, net assets of $729k.