Peninsula Preparatory Academy Charter School

Analysis

Peninsula Preparatory Academy Charter School is a registered charity in United States, based in Far Rockaway, NY. It received its IRS tax-exemption ruling in June 2005, 21 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 2023, Peninsula Preparatory Academy Charter School reported income of $7.1m and spending of $7.7m, spending 109% of what it took in. Across the 5 years on record, from June 2019 to June 2023, income grew from $6.1m to $7.1m (+17%), an average of +4.1% a year. The sharpest change came in the year to June 2022, when income rose by 20%. Over the whole period it spent 104% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Peninsula Preparatory Academy Charter School 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 94th percentile, and in the 92nd percentile within NY. Charities of a similar size with the same main cause include Woodlands School Inc ($7.1m), American Community School Foundation Inc ($7.1m) and Uc Law SF Foundation ($7.1m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 21% and program service revenue 79% of the total. Compensation of current officers, directors and key employees was $568k (7.3% of expenses). Other salaries and wages came to $3.9m. At year end it held assets of $1.0m against liabilities of $1.9m, net assets of -$876k. It reported 78 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.