Suncoast Preparatory Academy

Analysis

Suncoast Preparatory Academy is a registered charity in United States, based in Newport Beach, CA. It received its IRS tax-exemption ruling in March 2020, 6 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, Suncoast Preparatory Academy reported income of $2.0m and spending of $2.2m, spending 106% of what it took in. Across the 5 years on record, from June 2019 to June 2023, income grew from $1.3m to $2.0m (+56%), an average of +12% a year. The sharpest change came in the year to June 2023, when income rose by 62%. 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, Suncoast Preparatory Academy sits at the 82nd percentile: it is larger than about 82% of them. Against every charity in United States with reported income it ranks in the 86th percentile, and in the 87th percentile within CA. Charities of a similar size with the same main cause include Forging Opportunities for Refugees in America Inc NFP ($2.0m), Torah Academy for Girls Shaarei Bina Inc ($2.0m) and Kansas Wesleyan University Foundation ($2.0m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 100% of the total. Compensation of current officers, directors and key employees was $35k (1.6% of expenses). Other salaries and wages came to $822k. At year end it held assets of $680k against liabilities of $1.1m, net assets of -$380k. It reported 21 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.