Academy Prep Center of Lakeland Inc

Analysis

Academy Prep Center of Lakeland Inc is a registered charity in United States, based in Lakeland, FL. It received its IRS tax-exemption ruling in August 2018, 8 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, Academy Prep Center of Lakeland Inc reported income of $3.4m and spending of $3.0m, spending 89% of its income. Across the 5 years on record, from May 2019 to May 2023, income fell from $7.2m to $3.4m (-53%), an average of -17% a year. The sharpest change came in the year to May 2023, when income rose by 127%. Over the whole period it spent 46% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Academy Prep Center of Lakeland Inc sits at the 86th percentile: it is larger than about 86% of them. Against every charity in United States with reported income it ranks in the 90th percentile, and in the 91st percentile within FL. Charities of a similar size with the same main cause include Geneseo Foundation Inc ($3.4m), Northwest College of Construction ($3.4m) and University of Maryland Alumni Association Inc ($3.4m).

On its Form 990 for the period ending May 2023, revenue came from contributions and grants 74% and program service revenue 23% of the total. Compensation of current officers, directors and key employees was $91k (3.0% of expenses). Other salaries and wages came to $1.6m. At year end it held assets of $1.2m against liabilities of $134k, net assets of $1.1m.