Panacea Prep Charter School Inc

Analysis

Panacea Prep Charter School Inc is a registered charity in United States, based in Coral Springs, FL. It received its IRS tax-exemption ruling in February 2015, 11 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, Panacea Prep Charter School Inc reported income of $921k and spending of $960k, spending 104% of its income. Across the 5 years on record, from June 2019 to June 2023, income fell from $1.1m to $921k (-19%), an average of -5.1% a year. The sharpest change came in the year to June 2022, when income dropped by 28%. Over the whole period it spent 105% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Panacea Prep Charter School Inc sits at the 75th percentile: it is larger than about 75% of them. Against every charity in United States with reported income it ranks in the 78th percentile, and in the 80th percentile within FL. Charities of a similar size with the same main cause include Paideia School of Tampa Bay Inc ($920k), The@masters Academy ($921k) and Sager Classical Academy Corporation ($920k).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 99% and program service revenue 1.3% of the total. Other salaries and wages came to $453k. At year end it held assets of $182k against liabilities of $182k, net assets of $292.