Bestprep

Analysis

Bestprep is a registered charity in United States, based in Brooklyn Park, MN. It received its IRS tax-exemption ruling in February 1976, 50 years ago. 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 August 2023, Bestprep reported income of $2.4m and spending of $2.2m, spending 89% of its income. Across the 5 years on record, from August 2019 to August 2023, income grew from $1.6m to $2.4m (+53%), an average of +11% a year. The sharpest change came in the year to August 2022, when income rose by 30%. Over the whole period it spent 92% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Bestprep sits at the 87th percentile: it is larger than about 87% of them. Against every charity in United States with reported income it ranks in the 87th percentile, and in the 87th percentile within MN. Charities of a similar size with the same main cause include Boys and Girls Club of Livingston County ($2.4m), Child Development Council of Central New York Inc ($2.4m) and Portland City United Soccer Club Inc ($2.4m).

On its Form 990 for the period ending August 2023, revenue came from contributions and grants 103% and program service revenue 1.2% of the total. Compensation of current officers, directors and key employees was $467k (22% of expenses). Other salaries and wages came to $925k. At year end it held assets of $2.2m against liabilities of $286k, net assets of $1.9m. It reported 34 employees.