Rainier Prep

Analysis

Rainier Prep is a registered charity in United States, based in Seattle, WA. It received its IRS tax-exemption ruling in July 2014, 12 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, Rainier Prep reported income of $5.7m and spending of $5.8m, spending 102% of its income. Across the 5 years on record, from August 2019 to August 2023, income grew from $4.6m to $5.7m (+23%), an average of +5.4% a year. The sharpest change came in the year to August 2022, when income rose by 27%. Over the whole period it spent 90% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Rainier Prep 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 WA. Charities of a similar size with the same main cause include The Sae School Inc ($5.7m), FC Cornerstone Christian Academy ($5.7m) and Timothy L Johnson Academy ($5.7m).

On its Form 990 for the period ending August 2023, revenue came from contributions and grants 23% and program service revenue 76% of the total. Compensation of current officers, directors and key employees was $250k (4.3% of expenses). Other salaries and wages came to $2.9m. At year end it held assets of $5.0m against liabilities of $2.1m, net assets of $2.9m. It reported 49 employees.