Gem Prep Online LLC

Analysis

Gem Prep Online LLC is a registered charity in United States, based in Deary, ID. It received its IRS tax-exemption ruling in December 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 2024, Gem Prep Online LLC reported income of $6.5m and spending of $5.7m, spending 88% of its income. Across the 5 years on record, from June 2020 to June 2024, income fell from $7.5m to $6.5m (-14%), an average of -3.7% a year. The sharpest change came in the year to June 2024, when income rose by 36%. Over the whole period it spent 80% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Gem Prep Online LLC sits at the 91st percentile: it is larger than about 91% of them. Against every charity in United States with reported income it ranks in the 93rd percentile, and in the 96th percentile within ID. Charities of a similar size with the same main cause include Delta Charter Group ($6.5m), CPLC Community Schools ($6.5m) and Tucson Country Day School Inc ($6.5m).

On its Form 990 for the period ending June 2024, revenue came from contributions and grants 73% and program service revenue 24% of the total. Compensation of current officers, directors and key employees was $295k (5.1% of expenses). Other salaries and wages came to $3.3m. At year end it held assets of $6.3m against liabilities of $348k, net assets of $6.0m. It reported 68 employees.