Prospect Academy of Colorado

Analysis

Prospect Academy of Colorado is a registered charity in United States, based in Arvada, CO. It received its IRS tax-exemption ruling in September 2022, 4 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 2024, Prospect Academy of Colorado reported income of $3.5m and spending of $3.8m, spending 108% of what it took in. Across the 4 years on record, from June 2020 to June 2024, income grew from $56k to $3.5m (+6216%), an average of +298% a year. The sharpest change came in the year to June 2023, when income rose by 873%. Over the whole period it spent 106% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Prospect Academy of Colorado sits at the 87th 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 90th percentile within CO. Charities of a similar size with the same main cause include Pathways in Education - Nampa Inc ($3.5m), Windsor Academy Inc ($3.5m) and Saint Josephs College ($3.5m).

On its Form 990 for the period ending June 2024, revenue came from contributions and grants 71% and program service revenue 28% of the total. Other salaries and wages came to $1.1m. At year end it held assets of $2.7m against liabilities of $3.4m, net assets of -$731k. It reported 38 employees.

Data notes from the register: Spending has exceeded income in each of the last three reported years, so the charity has been drawing on reserves or other funds.