Gem Prep Meridian North LLC

Analysis

Gem Prep Meridian North LLC is a registered charity in United States, based in Deary, ID. It received its IRS tax-exemption ruling in January 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, Gem Prep Meridian North LLC reported income of $4.8m and spending of $4.8m, spending 100% of its income. Across the 5 years on record, from June 2020 to June 2024, income grew from $154 to $4.8m (+3117408%), an average of +1229% a year. The sharpest change came in the year to June 2021, when income rose by 1049927%. Over the whole period it spent 98% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Gem Prep Meridian North LLC sits at the 89th percentile: it is larger than about 89% of them. Against every charity in United States with reported income it ranks in the 92nd percentile, and in the 94th percentile within ID. Charities of a similar size with the same main cause include Estrella Educational Foundation ($4.8m), Massachusetts Conference for Women Inc ($4.8m) and Eastern New Mexico University Foundation ($4.8m).

On its Form 990 for the period ending June 2024, revenue came from contributions and grants 93% and program service revenue 4.2% of the total. Other salaries and wages came to $2.1m. At year end it held assets of $12.7m against liabilities of $12.3m, net assets of $305k. It reported 73 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.