Academy Prep Foundation Inc

Analysis

Academy Prep Foundation Inc is a registered charity in United States, based in Lakeland, FL. It received its IRS tax-exemption ruling in April 1997, 29 years ago. Its declared purposes cover education, which this site groups under education and training. The IRS classifies it as a publicly supported organisation (donations from the general public) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending May 2023, Academy Prep Foundation Inc reported income of $5.8m and spending of $1.2m, leaving 79% of income unspent that year. Across the 5 years on record, from May 2019 to May 2023, income grew from $1.9m to $5.8m (+204%), an average of +32% a year. The sharpest change came in the year to May 2023, when income rose by 1203%. Over the whole period it spent 49% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Academy Prep Foundation Inc 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 94th percentile within FL. Charities of a similar size with the same main cause include The Hadanou Collective ($5.8m), University of North Carolina Foundation Inc ($5.8m) and Northwest Commission on Colleges and Universities ($5.8m).

On its Form 990 for the period ending May 2023, revenue came from contributions and grants 11% of the total. Compensation of current officers, directors and key employees was $127k (10% of expenses). Other salaries and wages came to $141k. At year end it held assets of $37.9m against liabilities of $274k, net assets of $37.6m. It reported 6 employees.