Parnassus Preparatory School

Analysis

Parnassus Preparatory School is a registered charity in United States, based in Maple Grove, MN. It received its IRS tax-exemption ruling in March 2013, 13 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, Parnassus Preparatory School reported income of $17.1m and spending of $16.1m, spending 94% of its income. Across the 5 years on record, from June 2019 to June 2023, income grew from $12.0m to $17.1m (+42%), an average of +9.2% a year. Over the whole period it spent 96% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Parnassus Preparatory School sits at the 96th percentile: it is larger than about 96% of them. Against every charity in United States with reported income it ranks in the 97th percentile, and in the 97th percentile within MN. Charities of a similar size with the same main cause include Milestones Behavioral Services Inc Payroll-Finance Department ($17.1m), Independence Charter School ($17.1m) and Cleveland State University Foundation ($17.1m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 97% and program service revenue 2.1% of the total. Compensation of current officers, directors and key employees was $276k (1.7% of expenses). Other salaries and wages came to $6.8m. At year end it held assets of $13.5m against liabilities of $11.9m, net assets of $1.6m. It reported 163 employees.