Island Prep School Inc

Analysis

Island Prep School Inc is a registered charity in United States, based in St Augustine, FL. It received its IRS tax-exemption ruling in May 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 December 2022, Island Prep School Inc reported income of $1.5m and spending of $1.8m, spending 120% of what it took in. Across the 3 years on record, from December 2020 to December 2022, income grew from $754k to $1.5m (+104%), an average of +43% a year. The sharpest change came in the year to December 2021, when income rose by 103%. Over the whole period it spent 94% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Island Prep School Inc sits at the 80th percentile: it is larger than about 80% of them. Against every charity in United States with reported income it ranks in the 84th percentile, and in the 85th percentile within FL. Charities of a similar size with the same main cause include United States Academic Decathlon Association ($1.5m), John S Bradfield School Parent Teacher Association ($1.5m) and Memphis Lift Parent Institute ($1.5m).

On its Form 990 for the period ending December 2022, revenue came from contributions and grants 40% and program service revenue 60% of the total. Compensation of current officers, directors and key employees was $66k (3.5% of expenses). Other salaries and wages came to $723k. At year end it held assets of $217k against liabilities of $6,331, net assets of $211k. It reported 55 employees.