Prelude Preparatory Inc

Analysis

Prelude Preparatory Inc is a registered charity in United States, based in San Antonio, TX. It received its IRS tax-exemption ruling in March 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, Prelude Preparatory Inc reported income of $1.5m and spending of $2.3m, spending 148% of what it took in. Across the 3 years on record, from June 2021 to June 2023, income grew from $494k to $1.5m (+211%), an average of +76% a year. The sharpest change came in the year to June 2022, when income rose by 299%. Over the whole period it spent 107% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Prelude Preparatory Inc sits at the 80th percentile: it is larger than about 80% of them. Against every charity in United States with reported income it ranks in the 84th percentile, and in the 87th percentile within TX. Charities of a similar size with the same main cause include North Arkansas College Foundation Inc ($1.5m), American Friends of Ramot Torah Schools Inc ($1.5m) and Montessori Academy of Chambersburg Inc ($1.5m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 44% and program service revenue 47% of the total. Compensation of current officers, directors and key employees was $64k (2.8% of expenses). Other salaries and wages came to $665k. At year end it held assets of $8.9m against liabilities of $9.2m, net assets of -$298k. It reported 25 employees.