Cambridge Prep Academy Incorporated

Analysis

Cambridge Prep Academy Incorporated is a registered charity in United States, based in Lake City, FL. It received its IRS tax-exemption ruling in December 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, Cambridge Prep Academy Incorporated reported income of $1.4m and spending of $1.5m, spending 111% of what it took in. Across the 5 years on record, from June 2019 to June 2023, income grew from $751k to $1.4m (+84%), an average of +16% a year. The sharpest change came in the year to June 2023, when income rose by 22%. Over the whole period it spent 102% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Cambridge Prep Academy Incorporated sits at the 79th percentile: it is larger than about 79% 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 Ironstone Total Business Support ($1.4m), Marymount Education Foundation ($1.4m) and Waadookodaading Ojibwe Language Institute Inc ($1.4m).

On its Form 990 for the period ending June 2023, revenue came from program service revenue 98% of the total. Other salaries and wages came to $675k. At year end it held assets of $625k against liabilities of $716k, net assets of -$91k.