Erudite Technology Group

Analysis

Erudite Technology Group is a registered charity in United States, based in Palo Alto, CA. It received its IRS tax-exemption ruling in January 1998, 28 years ago. Its declared purposes cover education, which this site groups under education and training. 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 August 2023, Erudite Technology Group reported income of $2.2m and spending of $2.0m, spending 93% of its income. Across the 5 years on record, from August 2019 to August 2023, income grew from $1.6m to $2.2m (+39%), an average of +8.6% a year. The sharpest change came in the year to August 2020, when income rose by 25%. Over the whole period it spent 98% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Erudite Technology Group 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 87th percentile within CA. Charities of a similar size with the same main cause include Vt-Hec Inc ($2.2m), Educate Maine ($2.2m) and Achievepoint Career Academy - Cincinnati ($2.2m).

On its Form 990 for the period ending August 2023, revenue came from contributions and grants 27% and program service revenue 73% of the total. Compensation of current officers, directors and key employees was $33k (1.6% of expenses). Other salaries and wages came to $1.4m. At year end it held assets of $1.1m against liabilities of $122k, net assets of $969k. It reported 44 employees.