Rise Prep Mayoral Academy

Analysis

Rise Prep Mayoral Academy is a registered charity in United States, based in Woonsocket, RI. It received its IRS tax-exemption ruling in October 2015, 11 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, Rise Prep Mayoral Academy reported income of $6.9m and spending of $6.8m, spending 98% of its income. Across the 5 years on record, from June 2019 to June 2023, income grew from $3.1m to $6.9m (+121%), an average of +22% a year. The sharpest change came in the year to June 2021, when income rose by 67%. Over the whole period it spent 84% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Rise Prep Mayoral Academy sits at the 91st percentile: it is larger than about 91% of them. Against every charity in United States with reported income it ranks in the 94th percentile, and in the 91st percentile within RI. Charities of a similar size with the same main cause include East Chicago Urban Enterprise Academy Inc ($6.9m), Chicago Public Education Fund ($6.9m) and Credo High School ($6.9m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 0.1% and program service revenue 100% of the total. Compensation of current officers, directors and key employees was $344k (5.1% of expenses). Other salaries and wages came to $3.7m. At year end it held assets of $14.4m against liabilities of $10.0m, net assets of $4.5m. It reported 79 employees.