Edvance

Analysis

Edvance is a registered charity in United States, based in San Francisco, CA. It received its IRS tax-exemption ruling in November 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 June 2024, Edvance reported income of $6.3m and spending of $4.5m, leaving 28% of income unspent that year. Across the 3 years on record, from June 2022 to June 2024, income grew from $1.0m to $6.3m (+501%), an average of +145% a year. The sharpest change came in the year to June 2023, when income rose by 246%. Over the whole period it spent 63% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Edvance sits at the 91st percentile: it is larger than about 91% of them. Against every charity in United States with reported income it ranks in the 93rd percentile, and in the 93rd percentile within CA. Charities of a similar size with the same main cause include The Westview School Inc ($6.2m), Noble Academy Cleveland Inc ($6.3m) and Greene Town School Inc ($6.2m).

On its Form 990 for the period ending June 2024, revenue came from contributions and grants 99% and program service revenue 0.4% of the total. Compensation of current officers, directors and key employees was $644k (14% of expenses). Other salaries and wages came to $2.2m. At year end it held assets of $4.4m against liabilities of $338k, net assets of $4.1m. It reported 48 employees.