Intellectus Preparatory Charter School

Analysis

Intellectus Preparatory Charter School is a registered charity in United States, based in Mount Vernon, NY. It received its IRS tax-exemption ruling in June 2022, 4 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, Intellectus Preparatory Charter School reported income of $1.6m and spending of $2.6m, spending 167% of what it took in. Across the 2 years on record, from June 2022 to June 2023, income grew from $935k to $1.6m (+70%), an average of +70% a year. The sharpest change came in the year to June 2023, when income rose by 70%. Over the whole period it spent 122% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Intellectus Preparatory Charter School 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 80th percentile within NY. Charities of a similar size with the same main cause include Tamalpais - Strawberry Preschools Inc ($1.6m), Center for Creative Change ($1.6m) and Nurturing Minds Inc ($1.6m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 100% of the total. Compensation of current officers, directors and key employees was $199k (7.5% of expenses). Other salaries and wages came to $987k. At year end it held assets of $3.2m against liabilities of $3.7m, net assets of -$542k. It reported 20 employees.