Benjamin Banneker Prep Inc

Analysis

Benjamin Banneker Prep Inc is a registered charity in United States, based in Westampton, NJ. It received its IRS tax-exemption ruling in September 2012, 14 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, Benjamin Banneker Prep Inc reported income of $7.4m and spending of $7.2m, spending 98% of its income. Across the 5 years on record, from June 2019 to June 2023, income grew from $6.0m to $7.4m (+22%), an average of +5.2% a year. The sharpest change came in the year to June 2021, when income rose by 16%. Over the whole period it spent 95% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Benjamin Banneker Prep Inc sits at the 92nd percentile: it is larger than about 92% of them. Against every charity in United States with reported income it ranks in the 94th percentile, and in the 95th percentile within NJ. Charities of a similar size with the same main cause include Young Scholars Charter School Inc ($7.4m), Johnston Charter Academy ($7.4m) and Paso Robles Charter School Project Inc ($7.4m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 100% and program service revenue 1.6% of the total. Compensation of current officers, directors and key employees was $2.7m (38% of expenses). Other salaries and wages came to $913k. At year end it held assets of $4.9m against liabilities of $3.9m, net assets of $994k. It reported 92 employees.