Beacon College Preparatory Inc

Analysis

Beacon College Preparatory Inc is a registered charity in United States, based in Memphis, TN. It received its IRS tax-exemption ruling in June 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, Beacon College Preparatory Inc reported income of $2.7m and spending of $2.5m, spending 92% of its income. Across the 3 years on record, from June 2021 to June 2023, income grew from $2.7m to $2.7m (+0.4%), an average of +0.2% a year. The sharpest change came in the year to June 2023, when income rose by 31%. Over the whole period it spent 76% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Beacon College Preparatory Inc sits at the 85th percentile: it is larger than about 85% of them. Against every charity in United States with reported income it ranks in the 88th percentile, and in the 89th percentile within TN. Charities of a similar size with the same main cause include Alaska Laborers Training School ($2.7m), New England Jewish Academy ($2.7m) and Student Association at State University of New York at Albany I ($2.7m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 100% and program service revenue 0.4% of the total. Compensation of current officers, directors and key employees was $1.1m (44% of expenses). At year end it held assets of $1.3m against liabilities of $451k, net assets of $826k. It reported 15 employees.