Asbury Preschool

Analysis

Asbury Preschool is a registered charity in United States, based in Asheville, NC. It received its IRS tax-exemption ruling in September 1985, 41 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 August 2023, Asbury Preschool reported income of $337k and spending of $355k, spending 105% of what it took in. Across the 4 years on record, from August 2020 to August 2023, income grew from $189k to $337k (+78%), an average of +21% a year. The sharpest change came in the year to August 2022, when income rose by 88%. Over the whole period it spent 105% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Asbury Preschool sits at the 63rd percentile: it is larger than about 62% of them. Against every charity in United States with reported income it ranks in the 64th percentile, and in the 62nd percentile within NC. Charities of a similar size with the same main cause include Amigas Para Ninos Inc ($337k), Starbase Victory Inc ($337k) and New York State School Counselors Educational Foundation Inc ($337k).

On its Form 990 for the period ending August 2023, revenue came from contributions and grants 1.0% and program service revenue 96% of the total. Compensation of current officers, directors and key employees was $23k (6.5% of expenses). Other salaries and wages came to $238k. At year end it held assets of $28k against liabilities of $0, net assets of $28k. It reported 48 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.