Folsom Prep Academy

Analysis

Folsom Prep Academy is a registered charity in United States, based in Folsom, CA. It received its IRS tax-exemption ruling in July 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 2024, Folsom Prep Academy reported income of $2.2m and spending of $2.1m, spending 94% of its income. Across the 4 years on record, from June 2020 to June 2024, income grew from $1.1m to $2.2m (+97%), an average of +25% a year. The sharpest change came in the year to June 2022, when income rose by 89%. Over the whole period it spent 90% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Folsom Prep Academy sits at the 83rd percentile: it is larger than about 83% of them. Against every charity in United States with reported income it ranks in the 87th percentile, and in the 87th percentile within CA. Charities of a similar size with the same main cause include Glenna Joyce Testamentary TR 0129-0013-00-2 ($2.2m), Kay Yow Cancer Foundation Inc ($2.2m) and Skyrocket Education Inc ($2.2m).

On its Form 990 for the period ending June 2024, revenue came from contributions and grants 0.2% and program service revenue 99% of the total. Other salaries and wages came to $1.1m. At year end it held assets of $788k against liabilities of $13k, net assets of $775k. It reported 32 employees.