Shorecrest Preparatory School Inc

Analysis

Shorecrest Preparatory School Inc is a registered charity in United States, based in St Petersburg, FL. It received its IRS tax-exemption ruling in April 1975, 51 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, Shorecrest Preparatory School Inc reported income of $34.2m and spending of $30.3m, spending 89% of its income. Across the 5 years on record, from June 2019 to June 2023, income grew from $28.4m to $34.2m (+21%), an average of +4.8% a year. Over the whole period it spent 86% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Shorecrest Preparatory School Inc 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 FL. Charities of a similar size with the same main cause include Southwestern College ($34.2m), Fay School Inc ($34.2m) and University Student Housing ($34.2m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 7.4% and program service revenue 90% of the total. Compensation of current officers, directors and key employees was $568k (1.9% of expenses). Other salaries and wages came to $12.7m. At year end it held assets of $87.8m against liabilities of $38.4m, net assets of $49.4m. It reported 311 employees.