Cate School

Analysis

Cate School is a registered charity in United States, based in Carpinteria, CA. It received its IRS tax-exemption ruling in February 1940, 86 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, Cate School reported income of $34.6m and spending of $36.7m, spending 106% of what it took in. Across the 5 years on record, from June 2019 to June 2023, income fell from $37.0m to $34.6m (-6.6%), an average of -1.7% a year. The sharpest change came in the year to June 2021, when income rose by 67%. Over the whole period it spent 85% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Cate School sits at the 97th percentile: it is larger than about 97% of them. Against every charity in United States with reported income it ranks in the 98th percentile, and in the 98th percentile within CA. Charities of a similar size with the same main cause include Mast Community Charter School II ($34.6m), Washburn University Foundation ($34.6m) and Worcester Academy ($34.6m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 32% and program service revenue 61% of the total. Compensation of current officers, directors and key employees was $948k (2.6% of expenses). Other salaries and wages came to $11.0m. At year end it held assets of $214.4m against liabilities of $21.4m, net assets of $193.0m. It reported 282 employees.