Pikes Peak Prep
Pikes Peak Prep faces significant financial liabilities despite consistent revenue, with no reported officer compensation.
EIN: 202498520 · Colorado Spgs, CO · NTEE: B20 · Updated: 2026-03-28
Is Pikes Peak Prep Legit?
Some Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Pikes Peak Prep directs 75% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About Pikes Peak Prep
Pikes Peak Prep (EIN: 202498520) is a nonprofit organization based in Colorado Spgs, CO, classified under NTEE code B20. The organization reported total revenue of $2.7M and total assets of $3.6M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Pikes Peak Prep's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Pikes Peak Prep is a mid-size nonprofit that has been operating for 19 years, with 7 years of IRS 990 filings on record (2011–2017). Revenue has grown at a compound annual rate of 3.2%.
Key Financial Metrics (2017)
From the most recent IRS 990 filing on record:
| Total Revenue | $2.7M |
| Total Expenses | $2.8M |
| Surplus / Deficit | $-96,429 |
| Total Assets | $3.6M |
| Total Liabilities | $8.8M |
| Net Assets | $-5,156,698 |
| Operating Margin | -3.6% |
| Debt-to-Asset Ratio | 241.8% |
| Months of Reserves | 15.6 months |
Financial Health Grade: C
In 2017, Pikes Peak Prep reported a deficit of $96K with expenses exceeding revenue, holds 15.6 months of operating reserves (strong position), has a debt-to-asset ratio of 241.8% (high leverage).
Financial Trends
Over 7 years of filings (2011–2017), Pikes Peak Prep's revenue has grown at a compound annual growth rate (CAGR) of 3.2%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2017 | -7.8% | -2.8% | +229.9% |
| 2016 | +0.4% | +1.8% | +48.7% |
| 2015 | +7.7% | +6.7% | +65.9% |
| 2014 | +6.1% | +3.8% | +13.6% |
| 2013 | +23.6% | +19.3% | +31.1% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 2000 |
| IRS Ruling Date | 2007 |
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 Pikes Peak Prep with a Mission Score of 65 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: 15%
- programs: 75%
- fundraising: 10%
According to IRS 990 filings, Pikes Peak Prep allocates its expenses as follows: admin: 15%, programs: 75%, fundraising: 10%. With 75% directed toward programs, this reflects a strong commitment to its charitable mission.
Key Financial Metrics (2017)
From the most recent IRS 990 filing on record:
- The organization reported a deficit of $96K, with expenses exceeding revenue.
- Debt-to-asset ratio: 241.8%.
Executive Compensation Analysis
Pikes Peak Prep consistently reports 0% officer compensation across all seven available filings, which is highly unusual for an organization with revenues consistently above $2 million. This suggests either an entirely volunteer-led executive team or compensation structured in a way that is not reported as 'officer compensation' on the 990, warranting further inquiry.
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 Pikes Peak Prep's IRS 990 filings:
- High liabilities relative to assets: Liabilities of $8,794,025 significantly exceed assets of $3,637,327 in 201706.
- Dramatic increase in liabilities: Liabilities jumped from $936,623 in 201406 to $8,794,025 in 201706.
- 0% officer compensation reported: This is unusual for an organization with over $2 million in annual revenue and warrants further investigation into leadership compensation structure.
Strengths
The following positive indicators were identified for Pikes Peak Prep:
- Consistent revenue generation: Annual revenues have consistently been in the $2.5M - $2.9M range over the past seven years.
- Regular IRS 990 filings: Seven consecutive filings demonstrate a commitment to regulatory compliance and public disclosure.
- Stable operational expenses: Expenses generally track closely with revenue, indicating consistent operational activity.
Frequently Asked Questions about Pikes Peak Prep
Is Pikes Peak Prep a legitimate charity?
Based on AI analysis of IRS 990 filings, Pikes Peak Prep (EIN: 202498520) some concerns. Mission Score: 65/100. 3 red flags identified, 3 strengths noted.
How does Pikes Peak Prep spend its money?
Pikes Peak Prep directs 75% of its spending to programs and services. The remaining budget covers administration and fundraising costs.
Are donations to Pikes Peak Prep tax-deductible?
Pikes Peak Prep is registered as a tax-exempt nonprofit (EIN: 202498520). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
Is Pikes Peak Prep a good charity?
Pikes Peak Prep shows consistent revenue and a history of IRS 990 filings, indicating operational stability and transparency in reporting. However, the significant increase in liabilities to $8,794,025 in 201706, far exceeding assets of $3,637,327, raises concerns about its long-term financial health. The lack of reported officer compensation is also an unusual factor to consider.
Why are Pikes Peak Prep's liabilities so high?
Pikes Peak Prep's liabilities increased dramatically from $936,623 in 201406 to $8,794,025 in 201706. Without detailed financial statements, the exact reasons are unclear, but this could be due to significant capital expenditures, long-term debt, or other financial obligations that have accumulated over time.
How does Pikes Peak Prep manage its executive leadership without reported compensation?
The IRS 990 filings for Pikes Peak Prep consistently show 0% officer compensation. This could mean that executive leadership roles are filled by volunteers, or that compensation is provided through other means not classified as 'officer compensation' on the 990, such as through a management company or as employee salaries rather than officer salaries.
Filing History
IRS 990 filing history for Pikes Peak Prep showing financial trends over 7 years of public records:
Over 7 years of IRS 990 filings (2011–2017), Pikes Peak Prep's revenue has grown by 20.8%, moving from $2.2M to $2.7M. Total assets increased by 795.4% over the same period, from $406K to $3.6M. Total functional expenses rose by 26.6%, from $2.2M to $2.8M. In its most recent filing year (2017), Pikes Peak Prep reported a deficit of $96K, with expenses exceeding revenue. The organization holds $8.8M in liabilities against $3.6M in assets (debt-to-asset ratio: 241.8%), resulting in net assets of $-5,156,698.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2017 | $2.7M | $2.8M | $3.6M | $8.8M | — | View 990 |
| 2016 | $2.9M | $2.9M | $1.1M | $5.0M | — | — |
| 2015 | $2.9M | $2.8M | $741K | $4.4M | — | View 990 |
| 2014 | $2.7M | $2.6M | $447K | $937K | — | View 990 |
| 2013 | $2.5M | $2.6M | $393K | $940K | — | View 990 |
| 2012 | $2.1M | $2.1M | $300K | $845K | — | View 990 |
| 2011 | $2.2M | $2.2M | $406K | $874K | — | View 990 |
Year-by-Year Financial Summary
- 2017: Revenue of $2.7M, expenses of $2.8M, and assets of $3.6M (revenue -7.8% year-over-year).
- 2016: Revenue of $2.9M, expenses of $2.9M, and assets of $1.1M (revenue +0.4% year-over-year).
- 2015: Revenue of $2.9M, expenses of $2.8M, and assets of $741K (revenue +7.7% year-over-year).
- 2014: Revenue of $2.7M, expenses of $2.6M, and assets of $447K (revenue +6.1% year-over-year).
- 2013: Revenue of $2.5M, expenses of $2.6M, and assets of $393K (revenue +23.6% year-over-year).
- 2012: Revenue of $2.1M, expenses of $2.1M, and assets of $300K (revenue -7.7% year-over-year).
- 2011: Revenue of $2.2M, expenses of $2.2M, and assets of $406K.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Pikes Peak Prep:
Data Sources and Methodology
This transparency report for Pikes Peak Prep 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.