Carlsbad Preparatory Academy

Analysis

Carlsbad Preparatory Academy is a registered charity in United States, based in Carlsbad, NM. It received its IRS tax-exemption ruling in April 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 December 2023, Carlsbad Preparatory Academy reported income of $1.5m and spending of $1.1m, leaving 32% of income unspent that year. Across the 2 years on record, from December 2022 to December 2023, income fell from $5.2m to $1.5m (-70%), an average of -70% a year. The sharpest change came in the year to December 2023, when income dropped by 70%. Over the whole period it spent 21% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Carlsbad Preparatory Academy 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 84th percentile within NM. Charities of a similar size with the same main cause include Elyria Christian School Inc ($1.5m), Western Oklahoma Christian School ($1.5m) and Rock Steady Boxing Inc ($1.5m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 65% and program service revenue 35% of the total. Other salaries and wages came to $532k. At year end it held assets of $6.0m against liabilities of $645k, net assets of $5.4m. It reported 25 employees.