Reach Prep Inc

Analysis

Reach Prep Inc is a registered charity in United States, based in Stamford, CT. It received its IRS tax-exemption ruling in April 1996, 30 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 June 2023, Reach Prep Inc reported income of $1.5m and spending of $2.1m, spending 140% of what it took in. Across the 5 years on record, from June 2019 to June 2023, income grew from $1.5m to $1.5m (+2.5%), an average of +0.6% a year. The sharpest change came in the year to June 2023, when income dropped by 22%. Over the whole period it spent 124% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Reach Prep Inc sits at the 80th percentile: it is larger than about 80% of them. Against every charity in United States with reported income it ranks in the 83rd percentile, and in the 82nd percentile within CT. Charities of a similar size with the same main cause include Salvation Christian Academy ($1.5m), Hillcrest Christian Academy ($1.5m) and Henderson Isd Education Foundation Inc ($1.5m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 110% of the total. Compensation of current officers, directors and key employees was $166k (7.9% of expenses). Other salaries and wages came to $1.0m. At year end it held assets of $3.2m against liabilities of $308k, net assets of $2.9m. It reported 32 employees.

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.