Prep Inc

Analysis

Prep Inc is a registered charity in United States, based in Tampa, FL. It received its IRS tax-exemption ruling in August 2014, 12 years ago. Its declared purposes cover recreation and sports, which this site groups under amateur sport and recreation. The IRS classifies it as a publicly supported organisation (donations from the general public) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2022, Prep Inc reported income of $1.4m and spending of $1.3m, spending 87% of its income. Across the 4 years on record, from December 2019 to December 2022, income grew from $976k to $1.4m (+47%), an average of +14% a year. The sharpest change came in the year to December 2021, when income rose by 54%. Over the whole period it spent 90% of the income it received.

Among 30,892 United States charities whose main cause is amateur sport and recreation and that reported income, Prep Inc sits at the 94th percentile: it is larger than about 94% of them. Against every charity in United States with reported income it ranks in the 83rd percentile, and in the 85th percentile within FL. Charities of a similar size with the same main cause include Conejo Valley United Soccer Club ($1.4m), Northwest Ultimate Association ($1.4m) and Camp Young Judaea Midwest Inc ($1.4m).

On its Form 990 for the period ending December 2022, revenue came from contributions and grants 17% and program service revenue 83% of the total. At year end it held assets of $496k against liabilities of $0, net assets of $496k. It reported 6 employees.