Friends of Chattanooga Prep Inc

Analysis

Friends of Chattanooga Prep Inc is a registered charity in United States, based in Chattanooga, TN. It received its IRS tax-exemption ruling in March 2017, 9 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 June 2023, Friends of Chattanooga Prep Inc reported income of $4.9m and spending of $745k, leaving 85% of income unspent that year. Across the 5 years on record, from June 2019 to June 2023, income grew from $142k to $4.9m (+3361%), an average of +143% a year. The sharpest change came in the year to June 2021, when income rose by 866%. Over the whole period it spent 30% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Friends of Chattanooga Prep Inc sits at the 89th percentile: it is larger than about 89% of them. Against every charity in United States with reported income it ranks in the 92nd percentile, and in the 92nd percentile within TN. Charities of a similar size with the same main cause include Queens Yeshiva Ketana Inc ($4.9m), Charlotte Mecklenburg Library Foundation ($4.9m) and Kenmore Preparatory Academy ($4.9m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 100% of the total. Other salaries and wages came to $35k. At year end it held assets of $17.5m against liabilities of $7.9m, net assets of $9.6m. It reported 2 employees.