Legal Prep Charter Academies

Analysis

Legal Prep Charter Academies is a registered charity in United States, based in Chicago, IL. It received its IRS tax-exemption ruling in February 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, Legal Prep Charter Academies reported income of $4.9m and spending of $4.4m, spending 91% of its income. Across the 5 years on record, from June 2019 to June 2023, income grew from $4.7m to $4.9m (+3.2%), an average of +0.8% a year. Over the whole period it spent 94% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Legal Prep Charter Academies sits at the 89th percentile: it is larger than about 89% of them. Against every charity in United States with reported income it ranks in the 92nd percentile, and in the 92nd percentile within IL. Charities of a similar size with the same main cause include Innovateedu Inc ($4.9m), Shepherds Theological Seminary Inc ($4.9m) and Center for Family Medicine ($4.9m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 98% and program service revenue 2.9% of the total. Compensation of current officers, directors and key employees was $198k (4.5% of expenses). Other salaries and wages came to $2.1m. At year end it held assets of $6.9m against liabilities of $5.2m, net assets of $1.7m. It reported 59 employees.