Hope Preparatory School Inc

Analysis

Hope Preparatory School Inc is a registered charity in United States, based in Kinston, NC. It received its IRS tax-exemption ruling in October 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 July 2024, Hope Preparatory School Inc reported income of $1.2m and spending of $1.2m, spending 97% of its income. Across the 4 years on record, from July 2021 to July 2024, income grew from $369k to $1.2m (+230%), an average of +49% a year. The sharpest change came in the year to July 2023, when income rose by 80%. Over the whole period it spent 94% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Hope Preparatory School Inc sits at the 78th percentile: it is larger than about 78% of them. Against every charity in United States with reported income it ranks in the 81st percentile, and in the 82nd percentile within NC. Charities of a similar size with the same main cause include National Model United Nations Inc ($1.2m), Klamath Community College Foundation ($1.2m) and DBSC Inc ($1.2m).

On its Form 990 for the period ending July 2024, revenue came from contributions and grants 20% and program service revenue 75% of the total. Compensation of current officers, directors and key employees was $68k (5.7% of expenses). Other salaries and wages came to $776k. At year end it held assets of $394k against liabilities of $36k, net assets of $358k. It reported 44 employees.