Elm City College Preparatory Inc

Analysis

Elm City College Preparatory Inc is a registered charity in United States, based in New Haven, CT. It received its IRS tax-exemption ruling in August 2010, 16 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, Elm City College Preparatory Inc reported income of $13.2m and spending of $14.5m, spending 110% of what it took in. Across the 5 years on record, from June 2019 to June 2023, income grew from $13.0m to $13.2m (+1.6%), an average of +0.4% a year. The sharpest change came in the year to June 2021, when income rose by 24%. Over the whole period it spent 115% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Elm City College Preparatory Inc sits at the 95th percentile: it is larger than about 94% of them. Against every charity in United States with reported income it ranks in the 96th percentile, and in the 95th percentile within CT. Charities of a similar size with the same main cause include The Roosevelt Institute ($13.2m), Brighter Choice Elementary Charter Schools ($13.2m) and Learning Community Charter School Inc ($13.2m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 18% and program service revenue 81% of the total. Compensation of current officers, directors and key employees was $118k (0.8% of expenses). Other salaries and wages came to $7.7m. At year end it held assets of $28.1m against liabilities of $3.4m, net assets of $24.7m. It reported 169 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.