Studio Preparatory Inc

Analysis

Studio Preparatory Inc is a registered charity in United States, based in Austin, TX. It received its IRS tax-exemption ruling in April 2016, 10 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 2024, Studio Preparatory Inc reported income of $667k and spending of $901k, spending 135% of what it took in. Across the 6 years on record, from June 2019 to June 2024, income grew from $421k to $667k (+59%), an average of +9.7% a year. The sharpest change came in the year to June 2022, when income rose by 35%. Over the whole period it spent 130% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Studio Preparatory Inc sits at the 71st percentile: it is larger than about 71% of them. Against every charity in United States with reported income it ranks in the 74th percentile, and in the 78th percentile within TX. Charities of a similar size with the same main cause include St Marys Preparatory Moms and Dads Club ($667k), CTC International Inc ($667k) and Dallas Country Club Employee Scholarship Foundation ($667k).

On its Form 990 for the period ending June 2024, revenue came from contributions and grants 62% and program service revenue 28% of the total. Compensation of current officers, directors and key employees was $129k (14% of expenses). Other salaries and wages came to $304k. At year end it held assets of $115k against liabilities of $1.1m, net assets of -$952k. It reported 25 employees.

Data notes from the register: Spending has exceeded income in each of the last three reported years, so the charity has been drawing on reserves or other funds.