Arete Preparatory Academy

Analysis

Arete Preparatory Academy is a registered charity in United States, based in Phoenix, AZ. It received its IRS tax-exemption ruling in July 2007, 19 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, Arete Preparatory Academy reported income of $6.8m and spending of $6.5m, spending 96% of its income. Across the 5 years on record, from June 2019 to June 2023, income grew from $5.1m to $6.8m (+32%), an average of +7.1% a year. The sharpest change came in the year to June 2023, when income rose by 15%. 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, Arete Preparatory Academy sits at the 91st percentile: it is larger than about 91% of them. Against every charity in United States with reported income it ranks in the 93rd percentile, and in the 92nd percentile within AZ. Charities of a similar size with the same main cause include Dr Howard Fuller Collegiate Academy Inc ($6.8m), Rise Southeast Raleigh Charter School Inc ($6.8m) and Kansas Health Science University Inc ($6.8m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 14% and program service revenue 82% of the total. Compensation of current officers, directors and key employees was $91k (1.4% of expenses). Other salaries and wages came to $3.2m. At year end it held assets of $10.3m against liabilities of $8.5m, net assets of $1.8m.