Prea Foundation Inc

Analysis

Prea Foundation Inc is a registered charity in United States, based in Hartford, CT. It received its IRS tax-exemption ruling in February 2018, 8 years ago. Its declared purposes cover employment, which this site groups under community and economic development. 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 December 2023, Prea Foundation Inc reported income of $4.5m and spending of $3.3m, leaving 27% of income unspent that year. Across the 5 years on record, from December 2019 to December 2023, income grew from $4.1m to $4.5m (+9.1%), an average of +2.2% a year. The sharpest change came in the year to December 2021, when income rose by 314%. Over the whole period it spent 37% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Prea Foundation Inc sits at the 92nd percentile: it is larger than about 92% of them. Against every charity in United States with reported income it ranks in the 91st percentile, and in the 90th percentile within CT. Charities of a similar size with the same main cause include Rock River Valley Self-Help Enterprises ($4.5m), RDC Commercial Center Inc ($4.5m) and Certified Financial Planner Board of Standards Inc ($4.5m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 85% of the total. Compensation of current officers, directors and key employees was $295k (9.0% of expenses). Other salaries and wages came to $125k. At year end it held assets of $24.6m against liabilities of $67k, net assets of $24.5m. It reported 3 employees.