Main Street Preparatory Academy Inc

Analysis

Main Street Preparatory Academy Inc is a registered charity in United States, based in Akron, OH. It received its IRS tax-exemption ruling in August 2015, 11 years ago. Its declared purposes cover education, which this site groups under education and training. The IRS classifies it as a publicly supported organisation (gross receipts test) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending June 2023, Main Street Preparatory Academy Inc reported income of $1.5m and spending of $1.5m, spending 102% of its income. Across the 5 years on record, from June 2019 to June 2023, income fell from $1.5m to $1.5m (-3.9%), an average of -1.0% a year. The sharpest change came in the year to June 2023, when income dropped by 40%. Over the whole period it spent 99% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Main Street Preparatory Academy Inc 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 83rd percentile within OH. Charities of a similar size with the same main cause include Los Angeles Senior Citizen Housing Corp ($1.5m), College Mentors for Kids Inc ($1.5m) and Garden State Equality Education Fund Inc ($1.5m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 100% of the total. Other salaries and wages came to $499k. At year end it held assets of $975k against liabilities of $2.1m, net assets of -$1.1m.