Scholarship Prep

Analysis

Scholarship Prep is a registered charity in United States, based in Santa Ana, CA. It received its IRS tax-exemption ruling in December 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, Scholarship Prep reported income of $31.4m and spending of $29.7m, spending 94% of its income. Across the 5 years on record, from June 2019 to June 2023, income grew from $9.3m to $31.4m (+239%), an average of +36% a year. The sharpest change came in the year to June 2020, when income rose by 62%. Over the whole period it spent 91% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Scholarship Prep sits at the 97th percentile: it is larger than about 97% of them. Against every charity in United States with reported income it ranks in the 98th percentile, and in the 98th percentile within CA. Charities of a similar size with the same main cause include Bethel College ($31.4m), Daisy Education Corporation ($31.4m) and Avila University ($31.4m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 93% of the total. Compensation of current officers, directors and key employees was $304k (1.0% of expenses). Other salaries and wages came to $12.1m. At year end it held assets of $63.1m against liabilities of $52.6m, net assets of $10.5m. It reported 313 employees.