Skyrocket Education Inc

Analysis

Skyrocket Education Inc is a registered charity in United States, based in Merrick, NY. It received its IRS tax-exemption ruling in October 2020, 6 years ago. Its declared purposes cover education, which this site groups under education and training. The IRS classifies it as a publicly supported organisation (gross receipts test) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, Skyrocket Education Inc reported income of $2.2m and spending of $917k, leaving 58% of income unspent that year. Across the 3 years on record, from December 2021 to December 2023, income grew from $499k to $2.2m (+339%), an average of +110% a year. The sharpest change came in the year to December 2022, when income rose by 210%. Over the whole period it spent 68% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Skyrocket Education Inc sits at the 83rd percentile: it is larger than about 83% of them. Against every charity in United States with reported income it ranks in the 87th percentile, and in the 84th percentile within NY. Charities of a similar size with the same main cause include Early Excellence Program of Denver Inc ($2.2m), Glenna Joyce Testamentary TR 0129-0013-00-2 ($2.2m) and Providence Classical School Incorporated ($2.2m).

On its Form 990 for the period ending December 2023, revenue came from program service revenue 100% of the total. Other salaries and wages came to $496k. At year end it held assets of $192k against liabilities of $192k, net assets of $0.