Freedom Preparatory Academy Inc

Analysis

Freedom Preparatory Academy Inc is a registered charity in United States, based in Memphis, TN. It received its IRS tax-exemption ruling in December 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 Preparatory Academy Inc reported income of $39.7m and spending of $29.0m, leaving 27% of income unspent that year. Across the 5 years on record, from June 2019 to June 2023, income grew from $21.6m to $39.7m (+83%), an average of +16% a year. The sharpest change came in the year to June 2021, when income rose by 24%. Over the whole period it spent 82% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Freedom Preparatory Academy Inc sits at the 98th percentile: it is larger than about 98% of them. Against every charity in United States with reported income it ranks in the 98th percentile, and in the 99th percentile within TN. Charities of a similar size with the same main cause include Tusculum University ($39.6m), Utah Valley University Foundation Inc ($39.7m) and Eec ($39.6m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 42% and program service revenue 58% of the total. Compensation of current officers, directors and key employees was $1.2m (4.2% of expenses). Other salaries and wages came to $12.8m. At year end it held assets of $55.6m against liabilities of $26.9m, net assets of $28.7m. It reported 404 employees.