Mason Preparatory School

Analysis

Mason Preparatory School is a registered charity in United States, based in Charleston, SC. It received its IRS tax-exemption ruling in May 1965, 61 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 May 2023, Mason Preparatory School reported income of $5.8m and spending of $5.2m, spending 89% of its income. Across the 4 years on record, from May 2020 to May 2023, income grew from $4.7m to $5.8m (+23%), an average of +7.2% a year. The sharpest change came in the year to May 2021, when income rose by 20%. 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, Mason Preparatory School sits at the 90th percentile: it is larger than about 90% of them. Against every charity in United States with reported income it ranks in the 93rd percentile, and in the 95th percentile within SC. Charities of a similar size with the same main cause include P E O Educational Loan Fund ($5.8m), National College Attainment Network ($5.8m) and Hudson Link for Higher Education in ($5.8m).

On its Form 990 for the period ending May 2023, revenue came from contributions and grants 1.6% and program service revenue 97% of the total. Compensation of current officers, directors and key employees was $148k (2.9% of expenses). Other salaries and wages came to $2.7m. At year end it held assets of $14.9m against liabilities of $6.8m, net assets of $8.1m. It reported 103 employees.