Triangle Charter Education Association Inc

Analysis

Triangle Charter Education Association Inc is a registered charity in United States, based in Cary, NC. It received its IRS tax-exemption ruling in February 2015, 11 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, Triangle Charter Education Association Inc reported income of $18.2m and spending of $18.7m, spending 103% of its income. Across the 5 years on record, from June 2019 to June 2023, income grew from $8.3m to $18.2m (+118%), an average of +22% a year. The sharpest change came in the year to June 2021, when income rose by 71%. Over the whole period it spent 104% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Triangle Charter Education Association Inc sits at the 96th percentile: it is larger than about 96% of them. Against every charity in United States with reported income it ranks in the 97th percentile, and in the 98th percentile within NC. Charities of a similar size with the same main cause include Faith Christian School Inc ($18.2m), Annapolis Area Christian School Association Inc ($18.2m) and The Alfred and Adele Davis Academy Inc ($18.1m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 96% and program service revenue 3.3% of the total. Other salaries and wages came to $6.1m. At year end it held assets of $34.5m against liabilities of $38.7m, net assets of -$4.2m.

Data notes from the register: Spending has exceeded income in each of the last three reported years, so the charity has been drawing on reserves or other funds.