Purpose Preparatory Academy Inc

Analysis

Purpose Preparatory Academy Inc is a registered charity in United States, based in Nashville, TN. It received its IRS tax-exemption ruling in January 2013, 13 years ago. 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, Purpose Preparatory Academy Inc reported income of $8.2m and spending of $7.3m, spending 89% of its income. Across the 5 years on record, from June 2019 to June 2023, income grew from $4.8m to $8.2m (+72%), an average of +14% a year. The sharpest change came in the year to June 2021, when income rose by 29%. Over the whole period it spent 81% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Purpose Preparatory Academy 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 94th percentile, and in the 95th percentile within TN. Charities of a similar size with the same main cause include Horizons of Tuscarawas and Carroll Cos Inc ($8.2m), Economic Development Growth Enterprises Corporation ($8.2m) and Lynn Colbert Charitable Foundation ($8.2m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 98% of the total. Compensation of current officers, directors and key employees was $144k (2.0% of expenses). Other salaries and wages came to $3.0m. At year end it held assets of $10.5m against liabilities of $3.5m, net assets of $7.0m. It reported 77 employees.