Northeast College Prep

Analysis

Northeast College Prep is a registered charity in United States, based in Minneapolis, MN. It received its IRS tax-exemption ruling in July 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, Northeast College Prep reported income of $7.6m and spending of $7.4m, spending 97% of its income. Across the 5 years on record, from June 2019 to June 2023, income grew from $6.2m to $7.6m (+22%), an average of +5.0% a year. The sharpest change came in the year to June 2021, when income rose by 17%. Over the whole period it spent 104% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Northeast College Prep sits at the 92nd percentile: it is larger than about 92% of them. Against every charity in United States with reported income it ranks in the 94th percentile, and in the 93rd percentile within MN. Charities of a similar size with the same main cause include Tolbert Educational Services Inc ($7.6m), International Charter School Corporation ($7.6m) and The Ambrose School Inc ($7.6m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 99% and program service revenue 0.1% of the total. Compensation of current officers, directors and key employees was $204k (2.8% of expenses). Other salaries and wages came to $3.2m. At year end it held assets of $3.8m against liabilities of $5.6m, net assets of -$1.7m. It reported 98 employees.