MLC Preparatory Academy

Analysis

MLC Preparatory Academy is a registered charity in United States, based in Coconut Grove, FL. It received its IRS tax-exemption ruling in March 2017, 9 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 July 2023, MLC Preparatory Academy reported income of $81k and spending of $246k, spending 304% of what it took in. Across the 6 years on record, from December 2018 to July 2023, income fell from $252k to $81k (-68%), an average of -20% a year. The sharpest change came in the year to July 2023, when income dropped by 82%. Over the whole period it spent 111% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, MLC Preparatory Academy sits at the 34th percentile: it is larger than about 34% of them. Against every charity in United States with reported income it ranks in the 31st percentile, and in the 35th percentile within FL. Charities of a similar size with the same main cause include Sba Scholarship Fund ($81k), Ivy Community Service Foundation of Cary Inc ($81k) and Hunnicutt Foundation ($81k).

On its Form 990 for the period ending July 2023, revenue came from program service revenue 18% of the total. Compensation of current officers, directors and key employees was $33k (13% of expenses). Other salaries and wages came to $66k. At year end it held assets of $282k against liabilities of $521k, net assets of -$239k. It reported 6 employees.