Providence Preparatory Academy

Analysis

Providence Preparatory Academy is a registered charity in United States, based in Wilmington, NC. It received its IRS tax-exemption ruling in April 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 May 2024, Providence Preparatory Academy reported income of $948k and spending of $870k, spending 92% of its income. Across the 4 years on record, from May 2021 to May 2024, income grew from $494k to $948k (+92%), an average of +24% a year. The sharpest change came in the year to May 2022, when income rose by 80%. Over the whole period it spent 86% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Providence Preparatory Academy sits at the 75th percentile: it is larger than about 75% of them. Against every charity in United States with reported income it ranks in the 79th percentile, and in the 79th percentile within NC. Charities of a similar size with the same main cause include Amcare Residential Living ($948k), Applied Research Foundation of West Virginia ($948k) and Alabama Cte Leadership Council ($948k).

On its Form 990 for the period ending May 2024, revenue came from contributions and grants 4.3% and program service revenue 79% of the total. Other salaries and wages came to $551k. At year end it held assets of $1.4m against liabilities of $882k, net assets of $490k. It reported 43 employees.