Ingenuity Prep

Analysis

Ingenuity Prep is a registered charity in United States, based in Washington, DC. It received its IRS tax-exemption ruling in August 2014, 12 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, Ingenuity Prep reported income of $25.1m and spending of $21.8m, spending 87% of its income. Across the 5 years on record, from June 2019 to June 2023, income grew from $13.2m to $25.1m (+91%), an average of +18% a year. The sharpest change came in the year to June 2023, when income rose by 19%. Over the whole period it spent 94% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Ingenuity Prep sits at the 97th percentile: it is larger than about 97% of them. Against every charity in United States with reported income it ranks in the 98th percentile, and in the 94th percentile within DC. Charities of a similar size with the same main cause include Academy of Charter Schools Inc ($25.1m), Comp-U-Dopt Inc ($25.1m) and North Cobb Christian School Inc ($25.1m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 26% and program service revenue 73% of the total. Compensation of current officers, directors and key employees was $375k (1.7% of expenses). Other salaries and wages came to $11.7m. It paid $8,600 in professional fundraising fees. At year end it held assets of $10.5m against liabilities of $1.5m, net assets of $8.9m. It reported 220 employees.