Lifeprep Education System Inc

Analysis

Lifeprep Education System Inc is a registered charity in United States, based in Montvale, NJ. It received its IRS tax-exemption ruling in August 2019, 7 years ago. Its declared purposes cover education, which this site groups under education and training. The IRS classifies it as a publicly supported organisation (gross receipts test) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, Lifeprep Education System Inc reported income of $2.0m and spending of $2.3m, spending 115% of what it took in. Across the 4 years on record, from December 2020 to December 2023, income grew from $246k to $2.0m (+703%), an average of +100% a year. The sharpest change came in the year to December 2021, when income rose by 346%. Over the whole period it spent 111% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Lifeprep Education System Inc 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 88th percentile within NJ. Charities of a similar size with the same main cause include Cedar Grove Christian Academy Inc ($2.0m), Virginia Institute of Marine Science Foundation ($2.0m) and Colegio San Gabriel Inc ($2.0m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 2.5% and program service revenue 98% of the total. Compensation of current officers, directors and key employees was $52k (2.3% of expenses). Other salaries and wages came to $1.0m. At year end it held assets of $103k against liabilities of $601k, net assets of -$498k. It reported 95 employees.