Prep For Prep
Prep For Prep maintains substantial assets despite fluctuating revenues and recent operating deficit.
EIN: 132613383 · New York, NY · NTEE: B110 · Updated: 2026-03-28
| Metric | Value |
|---|---|
| Total Revenue | $11.8M |
| Total Expenses | $15.5M |
| Program Spending | 80% |
| CEO/Top Officer Pay | $15 |
| Net Assets | $62.0M |
| Transparency Score | 85/100 |
Is Prep For Prep Legit?
Some Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Prep For Prep directs 80% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About Prep For Prep
Prep For Prep (EIN: 132613383) is a nonprofit organization based in New York, NY, classified under NTEE code B110. The organization reported total revenue of $11.8M and total assets of $63.0M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Prep For Prep's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Prep For Prep is a large nonprofit that has been operating for 58 years, with 13 years of IRS 990 filings on record (2012–2024). Revenue has grown at a compound annual rate of 2.2%.
Key Financial Metrics (2024)
From the most recent IRS 990 filing on record:
| Total Revenue | $14.4M |
| Total Expenses | $15.5M |
| Surplus / Deficit | $-1,060,463 |
| Total Assets | $63.2M |
| Total Liabilities | $1.3M |
| Net Assets | $62.0M |
| Operating Margin | -7.4% |
| Debt-to-Asset Ratio | 2.0% |
| Months of Reserves | 49.1 months |
Financial Health Grade: B
In 2024, Prep For Prep reported a deficit of $1.1M with expenses exceeding revenue, holds 49.1 months of operating reserves (strong position), has a debt-to-asset ratio of 2.0% (very low leverage).
Financial Trends
Over 13 years of filings (2012–2024), Prep For Prep's revenue has grown at a compound annual growth rate (CAGR) of 2.2%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2024 | -12.8% | +3.9% | +0.4% |
| 2023 | +54.5% | +22.0% | +9.0% |
| 2022 | -6.7% | +12.3% | -14.7% |
| 2021 | +25.5% | -11.6% | +19.5% |
| 2020 | +5.0% | -0.8% | -6.2% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 2000 |
| IRS Ruling Date | 1968 |
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 Prep For Prep with a Mission Score of 85 out of 100 (Excellent). 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: 80%
- fundraising: 5%
According to IRS 990 filings, Prep For Prep allocates its expenses as follows: admin: 15%, programs: 80%, fundraising: 5%. With 80% directed toward programs, this reflects a strong commitment to its charitable mission.
Key Financial Metrics (2024)
From the most recent IRS 990 filing on record:
- The organization reported a deficit of $1.1M, with expenses exceeding revenue.
- Debt-to-asset ratio: 2.0%.
Executive Compensation Analysis
The IRS 990 filings consistently report 0% officer compensation, which suggests that either the organization's officers are not compensated, or their compensation is reported under other categories, or they are not considered 'officers' for the purpose of this specific disclosure. This lack of reported officer compensation is unusual for an organization of this size with over $15 million in annual expenses.
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 Prep For Prep's IRS 990 filings:
- Consistent 0% officer compensation reported on 990s, which is unusual for an organization with over $15 million in annual expenses and may indicate a reporting nuance or lack of transparency in this specific area.
- Operating deficit in the most recent filing period (202406), with expenses exceeding revenue by over $1 million.
Strengths
The following positive indicators were identified for Prep For Prep:
- Substantial asset base, reaching $63,219,416 in 202406, providing long-term financial stability.
- Long history of IRS 990 filings (13 filings), indicating consistent compliance and transparency in reporting.
- Significant revenue generation, with several years exceeding $15 million, demonstrating strong fundraising capabilities.
Frequently Asked Questions about Prep For Prep
Is Prep For Prep a legitimate charity?
Prep For Prep (EIN: 132613383) is a registered tax-exempt nonprofit based in New York. Our AI analysis gives it a Mission Score of 85/100. It has 13 years of IRS 990 filings on record. Total revenue: $11.8M. 2 red flags identified. 3 strengths noted. Financial health grade: B.
How does Prep For Prep spend its money?
Prep For Prep directs 80% of its spending to programs and services. Fundraising costs 5%. This exceeds the 65% industry benchmark.
Are donations to Prep For Prep tax-deductible?
Prep For Prep is registered as a tax-exempt nonprofit (EIN: 132613383). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
How much does the Prep For Prep CEO make?
Prep For Prep's highest-compensated officer earns $15 annually. The organization reported $11.8M in total revenue. Executive compensation data is disclosed in IRS 990 filings.
What percentage of Prep For Prep's spending goes to programs?
Prep For Prep directs 80% to programs, 5% to fundraising. This exceeds the 65% industry benchmark for efficient nonprofits.
How does Prep For Prep compare to similar nonprofits?
With a transparency score of 85/100 (Excellent), Prep For Prep is above average for NTEE category B110 nonprofits. The score reflects financial transparency, program spending efficiency, and governance quality based on IRS 990 data.
Where is Prep For Prep located?
Prep For Prep is headquartered in New York, New York and files with the IRS under EIN 132613383. It is classified under NTEE code B110.
How many years of IRS 990 filings does Prep For Prep have?
Prep For Prep 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 $11.8M in total revenue.
Is Prep For Prep a good charity?
Prep For Prep appears to be a financially stable organization with substantial assets ($63.2 million in 202406) and a long history of operation. While there are fluctuations in annual revenue and expenses, the overall financial health seems robust. The consistent 0% officer compensation reported on the 990s is a point of inquiry, but generally, the organization's mission alignment and asset base suggest it is a well-established charity.
How does Prep For Prep manage its executive compensation?
The IRS 990 filings for Prep For Prep consistently show 0% officer compensation. This indicates that either the organization's officers are not compensated, or their compensation is not reported in the 'officer compensation' section of the 990, or they are not considered 'officers' for this specific disclosure. Further investigation into their full compensation schedules would be needed for a complete understanding.
What is Prep For Prep's financial trend over the last few years?
Prep For Prep has experienced fluctuating financial performance. In 202406, expenses ($15.46M) exceeded revenue ($14.40M), resulting in a deficit. However, in 202306, revenue ($16.52M) significantly exceeded expenses ($14.88M). The organization's assets have remained strong, hovering around $60-63 million in recent years, indicating a solid financial foundation despite year-to-year operational variances.
Filing History
IRS 990 filing history for Prep For Prep showing financial trends over 13 years of public records:
Over 13 years of IRS 990 filings (2012–2024), Prep For Prep's revenue has grown by 29.6%, moving from $11.1M to $14.4M. Total assets increased by 74.7% over the same period, from $36.2M to $63.2M. Total functional expenses rose by 59.9%, from $9.7M to $15.5M. In its most recent filing year (2024), Prep For Prep reported a deficit of $1.1M, with expenses exceeding revenue. The organization holds $1.3M in liabilities against $63.2M in assets (debt-to-asset ratio: 2.0%), resulting in net assets of $62.0M.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2024 | $14.4M | $15.5M | $63.2M | $1.3M | — | — |
| 2023 | $16.5M | $14.9M | $63.0M | $1.1M | — | View 990 |
| 2022 | $10.7M | $12.2M | $57.7M | $1.6M | — | View 990 |
| 2021 | $11.5M | $10.9M | $67.7M | $1.4M | — | View 990 |
| 2020 | $9.1M | $12.3M | $56.6M | $1.6M | — | View 990 |
| 2019 | $8.7M | $12.4M | $60.4M | $1.9M | — | View 990 |
| 2018 | $18.0M | $12.0M | $62.8M | $1.9M | — | View 990 |
| 2017 | $15.5M | $11.7M | $47.4M | $1.8M | — | View 990 |
| 2016 | $7.9M | $10.9M | $44.3M | $2.3M | — | View 990 |
| 2015 | $13.5M | $10.4M | $46.4M | $1.9M | — | View 990 |
| 2014 | $10.6M | $10.7M | $45.4M | $1.7M | — | View 990 |
| 2013 | $11.6M | $10.2M | $40.8M | $1.8M | — | View 990 |
| 2012 | $11.1M | $9.7M | $36.2M | $1.9M | — | View 990 |
Year-by-Year Financial Summary
- 2024: Revenue of $14.4M, expenses of $15.5M, and assets of $63.2M (revenue -12.8% year-over-year).
- 2023: Revenue of $16.5M, expenses of $14.9M, and assets of $63.0M (revenue +54.5% year-over-year).
- 2022: Revenue of $10.7M, expenses of $12.2M, and assets of $57.7M (revenue -6.7% year-over-year).
- 2021: Revenue of $11.5M, expenses of $10.9M, and assets of $67.7M (revenue +25.5% year-over-year).
- 2020: Revenue of $9.1M, expenses of $12.3M, and assets of $56.6M (revenue +5.0% year-over-year).
- 2019: Revenue of $8.7M, expenses of $12.4M, and assets of $60.4M (revenue -51.6% year-over-year).
- 2018: Revenue of $18.0M, expenses of $12.0M, and assets of $62.8M (revenue +16.0% year-over-year).
- 2017: Revenue of $15.5M, expenses of $11.7M, and assets of $47.4M (revenue +95.3% year-over-year).
- 2016: Revenue of $7.9M, expenses of $10.9M, and assets of $44.3M (revenue -41.3% year-over-year).
- 2015: Revenue of $13.5M, expenses of $10.4M, and assets of $46.4M (revenue +27.1% year-over-year).
- 2014: Revenue of $10.6M, expenses of $10.7M, and assets of $45.4M (revenue -8.0% year-over-year).
- 2013: Revenue of $11.6M, expenses of $10.2M, and assets of $40.8M (revenue +4.1% year-over-year).
- 2012: Revenue of $11.1M, expenses of $9.7M, and assets of $36.2M.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Prep For Prep:
Data Sources and Methodology
This transparency report for Prep For 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.