Friends of the Preparatory Charter School

Analysis

Friends of the Preparatory Charter School is a registered charity in United States, based in Philadelphia, PA. It received its IRS tax-exemption ruling in November 2004, 22 years ago. Its declared purposes cover arts, culture and humanities, which this site groups under arts, culture, heritage and science. The IRS classifies it as a supporting organisation under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, Friends of the Preparatory Charter School reported income of $245k and spending of $327k, spending 133% of what it took in. Across the 4 years on record, from December 2019 to December 2023, income grew from $216k to $245k (+14%), an average of +4.3% a year. The sharpest change came in the year to December 2021, when income rose by 20%. Over the whole period it spent 108% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Friends of the Preparatory Charter School sits at the 64th percentile: it is larger than about 64% of them. Against every charity in United States with reported income it ranks in the 58th percentile, and in the 56th percentile within PA. Charities of a similar size with the same main cause include Pioneer Bluffs Foundation Inc ($245k), Ballet Western Reserve Inc ($245k) and The Baker Street Irregulars ($245k).

On its Form 990 for the period ending December 2023, revenue came from program service revenue 86% of the total. At year end it held assets of $3.3m against liabilities of $1.1m, net assets of $2.2m.

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.