Freedom Prep Charter School

Analysis

Freedom Prep Charter School is a registered charity in United States, based in Hightstown, NJ. It received its IRS tax-exemption ruling in July 2008, 18 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, Freedom Prep Charter School reported income of $19.9m and spending of $20.4m, spending 102% of its income. Across the 5 years on record, from June 2019 to June 2023, income grew from $16.5m to $19.9m (+20%), an average of +4.8% a year. The sharpest change came in the year to June 2021, when income rose by 18%. Over the whole period it spent 95% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Freedom Prep Charter School 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 NJ. Charities of a similar size with the same main cause include Saint Marys School ($19.9m), American Association of Colleges of Osteopathic Medicine ($19.9m) and Lexington School Inc ($19.9m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 25% and program service revenue 74% of the total. Compensation of current officers, directors and key employees was $1.5m (7.4% of expenses). Other salaries and wages came to $7.2m. At year end it held assets of $11.3m against liabilities of $6.1m, net assets of $5.2m. It reported 131 employees.