Skillsright Inc

Analysis

Skillsright Inc is a registered charity in United States, based in Montclair, NJ. It received its IRS tax-exemption ruling in June 2021, 5 years ago. Its declared purposes cover civil rights, social action and advocacy, which this site groups under human rights and equality. The IRS classifies it as a publicly supported organisation (donations from the general public) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, Skillsright Inc reported income of $42.7m and spending of $47.7m, spending 112% of what it took in. Across the 3 years on record, from December 2021 to December 2023, income grew from $22.5m to $42.7m (+90%), an average of +38% a year. The sharpest change came in the year to December 2022, when income rose by 134%. Over the whole period it spent 79% of the income it received.

Among 9,611 United States charities whose main cause is human rights and equality and that reported income, Skillsright Inc sits at the 99th percentile: it is one of the largest 1% in its cause. Against every charity in United States with reported income it ranks in the 98th percentile, and in the 99th percentile within NJ. Charities of a similar size with the same main cause include Child Crisis Arizona ($41.1m), NAACP Empowerment Programs Inc ($43.6m) and Lone Star Legal Aid ($40.7m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 96% of the total. Compensation of current officers, directors and key employees was $5.0m (11% of expenses). Other salaries and wages came to $10.9m. At year end it held assets of $112.5m against liabilities of $7.2m, net assets of $105.3m. It reported 93 employees.