Lorain Bilingual Preparatory Academy

Analysis

Lorain Bilingual Preparatory Academy is a registered charity in United States, based in Lorain, OH. It received its IRS tax-exemption ruling in May 2019, 7 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 June 2023, Lorain Bilingual Preparatory Academy reported income of $3.7m and spending of $3.8m, spending 101% of its income. Across the 5 years on record, from June 2019 to June 2023, income grew from $956k to $3.7m (+289%), an average of +40% a year. The sharpest change came in the year to June 2020, when income rose by 85%. Over the whole period it spent 98% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Lorain Bilingual Preparatory Academy sits at the 87th percentile: it is larger than about 87% of them. Against every charity in United States with reported income it ranks in the 90th percentile, and in the 90th percentile within OH. Charities of a similar size with the same main cause include East Valley Education Center Inc ($3.7m), City Neighbors Charter School ($3.7m) and Apprentice Academy High School of North Carolina Inc ($3.7m).

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 $1.4m. At year end it held assets of $4.0m against liabilities of $3.8m, net assets of $216k.