Elm City College Preparatory Inc
Elm City College Preparatory Inc. shows consistent operational spending but a significant decline in assets over the last decade.
EIN: 205196171 · New Haven, CT · NTEE: B29 · Updated: 2026-03-28
| Metric | Value |
|---|---|
| Total Revenue | $13.8M |
| Total Expenses | $14.5M |
| Program Spending | 85% |
| CEO/Top Officer Pay | $13.7 |
| Net Assets | $24.7M |
| Transparency Score | 75/100 |
Is Elm City College Preparatory Inc Legit?
Some Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Elm City College Preparatory Inc directs 85% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About Elm City College Preparatory Inc
Elm City College Preparatory Inc (EIN: 205196171) is a nonprofit organization based in New Haven, CT, classified under NTEE code B29. The organization reported total revenue of $13.8M and total assets of $27.4M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Elm City College Preparatory Inc's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Elm City College Preparatory Inc is a large nonprofit that has been operating for 16 years, with 13 years of IRS 990 filings on record (2011–2023). Revenue has grown at a compound annual rate of 3.3%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $13.2M |
| Total Expenses | $14.5M |
| Surplus / Deficit | $-1,326,852 |
| Total Assets | $28.1M |
| Total Liabilities | $3.4M |
| Net Assets | $24.7M |
| Operating Margin | -10.0% |
| Debt-to-Asset Ratio | 12.3% |
| Months of Reserves | 23.2 months |
Financial Health Grade: B
In 2023, Elm City College Preparatory Inc reported a deficit of $1.3M with expenses exceeding revenue, holds 23.2 months of operating reserves (strong position), has a debt-to-asset ratio of 12.3% (very low leverage).
Financial Trends
Over 13 years of filings (2011–2023), Elm City College Preparatory Inc's revenue has grown at a compound annual growth rate (CAGR) of 3.3%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | +16.2% | -0.1% | -3.9% |
| 2022 | -14.5% | +8.8% | -11.6% |
| 2021 | +24.3% | -1.4% | -0.6% |
| 2020 | -17.7% | -7.5% | -3.6% |
| 2019 | -2.2% | +1.2% | -8.6% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1200 |
| IRS Ruling Date | 2010 |
Classification data from ProPublica Nonprofit Explorer. Additional BMF data may be available after enrichment.
AI Transparency Report
Mission Effectiveness Score
NonprofitSpending's AI analysis rates Elm City College Preparatory Inc with a Mission Score of 75 out of 100 (Good). This score reflects the organization's overall financial transparency, program spending efficiency, and governance indicators derived from IRS 990 public filings.
Spending Breakdown
- admin: 10%
- programs: 85%
- fundraising: 5%
According to IRS 990 filings, Elm City College Preparatory Inc allocates its expenses as follows: admin: 10%, programs: 85%, fundraising: 5%. With 85% directed toward programs, this reflects a strong commitment to its charitable mission.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
- The organization reported a deficit of $1.3M, with expenses exceeding revenue.
- Debt-to-asset ratio: 12.3%.
Executive Compensation Analysis
The reported 0% officer compensation across all available filings is highly unusual for an organization of this size ($13.7 million latest revenue, $27.3 million assets) and suggests that executive compensation may be handled through a related party or not directly reported on the 990, which could impact transparency.
Executive compensation data is sourced from IRS 990 filings, which require nonprofits to disclose the compensation of officers, directors, trustees, and key employees. NonprofitSpending analyzes this data relative to the organization's total revenue and sector benchmarks to assess whether executive pay is reasonable.
Red Flags
The following concerns were identified during AI analysis of Elm City College Preparatory Inc's IRS 990 filings:
- Consistent reporting of 0% officer compensation, which is unusual for an organization of this size and could indicate a lack of transparency regarding executive pay.
- Significant decline in total assets from $46.8 million in 2015 to $28.1 million in 2023, indicating a substantial draw-down or revaluation.
- Expenses frequently exceeding revenue in recent years (e.g., $14.5M expenses vs. $13.2M revenue in 2023), which, if sustained, could impact long-term financial health.
Strengths
The following positive indicators were identified for Elm City College Preparatory Inc:
- Stable and manageable liabilities relative to assets, indicating good financial control over debt.
- Consistent operational activity and revenue generation over the past decade, demonstrating a stable funding base.
- Focus on educational services (NTEE B29) aligns with a clear programmatic mission.
Frequently Asked Questions about Elm City College Preparatory Inc
Is Elm City College Preparatory Inc a legitimate charity?
Elm City College Preparatory Inc (EIN: 205196171) is a registered tax-exempt nonprofit based in Connecticut. Our AI analysis gives it a Mission Score of 75/100. It has 13 years of IRS 990 filings on record. Total revenue: $13.8M. 3 red flags identified. 3 strengths noted. Financial health grade: B.
How does Elm City College Preparatory Inc spend its money?
Elm City College Preparatory Inc directs 85% of its spending to programs and services. Fundraising costs 5%. This exceeds the 65% industry benchmark.
Are donations to Elm City College Preparatory Inc tax-deductible?
Elm City College Preparatory Inc is registered as a tax-exempt nonprofit (EIN: 205196171). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
How much does the Elm City College Preparatory Inc CEO make?
Elm City College Preparatory Inc's highest-compensated officer earns $13.7 annually. The organization reported $13.8M in total revenue. Executive compensation data is disclosed in IRS 990 filings.
What percentage of Elm City College Preparatory Inc's spending goes to programs?
Elm City College Preparatory Inc directs 85% to programs, 5% to fundraising. This exceeds the 65% industry benchmark for efficient nonprofits.
How does Elm City College Preparatory Inc compare to similar nonprofits?
With a transparency score of 75/100 (Good), Elm City College Preparatory Inc is above average for NTEE category B29 nonprofits. The score reflects financial transparency, program spending efficiency, and governance quality based on IRS 990 data.
Where is Elm City College Preparatory Inc located?
Elm City College Preparatory Inc is headquartered in New Haven, Connecticut and files with the IRS under EIN 205196171. It is classified under NTEE code B29.
How many years of IRS 990 filings does Elm City College Preparatory Inc have?
Elm City College Preparatory Inc has 13 years of IRS 990 filings on record at NonprofitSpending. This extensive filing history provides a strong basis for evaluating long-term financial trends. The most recent filing shows $13.8M in total revenue.
Why have assets declined from $46.8 million in 2015 to $28.1 million in 2023?
The significant decrease in assets over the past decade suggests either substantial asset utilization, divestment, or revaluation. Further investigation into the organization's balance sheet changes would be necessary to understand the underlying reasons.
How is executive leadership compensated if officer compensation is consistently reported as 0%?
The consistent reporting of 0% officer compensation is atypical for an organization of this scale. It could indicate that executives are compensated by a related organization, are volunteers, or that compensation is structured in a way not captured under 'officer compensation' on the 990, warranting further inquiry into compensation practices.
Is the organization financially sustainable given that expenses have frequently exceeded revenue in recent years?
In several recent periods (e.g., 2023, 2022, 2021, 2020, 2019, 2018, 2017, 2016), expenses have exceeded revenue. While this can be managed by drawing on reserves, the sustained trend, coupled with declining assets, suggests a need to monitor long-term financial sustainability and funding strategies.
Filing History
IRS 990 filing history for Elm City College Preparatory Inc showing financial trends over 13 years of public records:
Over 13 years of IRS 990 filings (2011–2023), Elm City College Preparatory Inc's revenue has grown by 47.5%, moving from $9.0M to $13.2M. Total assets increased by 289.7% over the same period, from $7.2M to $28.1M. Total functional expenses rose by 66.7%, from $8.7M to $14.5M. In its most recent filing year (2023), Elm City College Preparatory Inc reported a deficit of $1.3M, with expenses exceeding revenue. The organization holds $3.4M in liabilities against $28.1M in assets (debt-to-asset ratio: 12.3%), resulting in net assets of $24.7M.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $13.2M | $14.5M | $28.1M | $3.4M | — | View 990 |
| 2022 | $11.4M | $14.6M | $29.3M | $3.3M | — | View 990 |
| 2021 | $13.3M | $13.4M | $33.1M | $3.9M | — | View 990 |
| 2020 | $10.7M | $13.6M | $33.3M | $4.0M | — | View 990 |
| 2019 | $13.0M | $14.7M | $34.5M | $2.4M | — | View 990 |
| 2018 | $13.3M | $14.5M | $37.8M | $4.0M | — | View 990 |
| 2017 | $13.2M | $14.5M | $40.1M | $5.1M | — | View 990 |
| 2016 | $12.9M | $14.1M | $41.9M | $5.6M | — | View 990 |
| 2015 | $21.4M | $10.9M | $46.8M | $9.3M | — | View 990 |
| 2014 | $28.0M | $9.9M | $38.2M | $11.1M | — | View 990 |
| 2013 | $14.5M | $9.7M | $10.6M | $1.6M | — | View 990 |
| 2012 | $9.7M | $9.0M | $8.7M | $4.5M | — | View 990 |
| 2011 | $9.0M | $8.7M | $7.2M | $3.7M | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $13.2M, expenses of $14.5M, and assets of $28.1M (revenue +16.2% year-over-year).
- 2022: Revenue of $11.4M, expenses of $14.6M, and assets of $29.3M (revenue -14.5% year-over-year).
- 2021: Revenue of $13.3M, expenses of $13.4M, and assets of $33.1M (revenue +24.3% year-over-year).
- 2020: Revenue of $10.7M, expenses of $13.6M, and assets of $33.3M (revenue -17.7% year-over-year).
- 2019: Revenue of $13.0M, expenses of $14.7M, and assets of $34.5M (revenue -2.2% year-over-year).
- 2018: Revenue of $13.3M, expenses of $14.5M, and assets of $37.8M (revenue +0.6% year-over-year).
- 2017: Revenue of $13.2M, expenses of $14.5M, and assets of $40.1M (revenue +2.7% year-over-year).
- 2016: Revenue of $12.9M, expenses of $14.1M, and assets of $41.9M (revenue -39.8% year-over-year).
- 2015: Revenue of $21.4M, expenses of $10.9M, and assets of $46.8M (revenue -23.5% year-over-year).
- 2014: Revenue of $28.0M, expenses of $9.9M, and assets of $38.2M (revenue +92.4% year-over-year).
- 2013: Revenue of $14.5M, expenses of $9.7M, and assets of $10.6M (revenue +49.2% year-over-year).
- 2012: Revenue of $9.7M, expenses of $9.0M, and assets of $8.7M (revenue +8.7% year-over-year).
- 2011: Revenue of $9.0M, expenses of $8.7M, and assets of $7.2M.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Elm City College Preparatory Inc:
Data Sources and Methodology
This transparency report for Elm City College Preparatory Inc is generated by NonprofitSpending's AI analysis engine. The data is sourced from publicly available IRS 990 filings accessed through the ProPublica Nonprofit Explorer API and IRS electronic filing records. The Mission Score, spending breakdown, and other analytical insights are produced by artificial intelligence and should be used as one of multiple factors when evaluating a nonprofit organization.
IRS 990 forms are annual information returns that most tax-exempt organizations must file with the IRS. These forms provide detailed financial information including revenue, expenses, assets, liabilities, and compensation of officers. NonprofitSpending processes this data to provide accessible transparency reports for donors, researchers, and the general public.
Disclaimer
AI-generated analysis based on IRS public records. Not financial or legal advice. Verify information directly with the organization.