Spartanburg Preparatory School
Spartanburg Preparatory School faces recurring operating deficits despite growing assets and liabilities.
EIN: 208133996 · Spartanburg, SC · NTEE: B29 · Updated: 2026-03-28
| Metric | Value |
|---|---|
| Total Revenue | $7.2M |
| Total Expenses | $7.9M |
| Program Spending | 85% |
| CEO/Top Officer Pay | $7 |
| Net Assets | $827K |
| Transparency Score | 75/100 |
Is Spartanburg Preparatory School Legit?
Some Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Spartanburg Preparatory School directs 85% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About Spartanburg Preparatory School
Spartanburg Preparatory School (EIN: 208133996) is a nonprofit organization based in Spartanburg, SC, classified under NTEE code B29. The organization reported total revenue of $7.2M and total assets of $12.4M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Spartanburg Preparatory School's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Spartanburg Preparatory School is a mid-size nonprofit that has been operating for 18 years, with 13 years of IRS 990 filings on record (2011–2023). Revenue has grown at a compound annual rate of 10.4%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $7.3M |
| Total Expenses | $7.9M |
| Surplus / Deficit | $-568,428 |
| Total Assets | $12.9M |
| Total Liabilities | $12.0M |
| Net Assets | $827K |
| Operating Margin | -7.8% |
| Debt-to-Asset Ratio | 93.6% |
| Months of Reserves | 19.6 months |
Financial Health Grade: C
In 2023, Spartanburg Preparatory School reported a deficit of $568K with expenses exceeding revenue, holds 19.6 months of operating reserves (strong position), has a debt-to-asset ratio of 93.6% (high leverage).
Financial Trends
Over 13 years of filings (2011–2023), Spartanburg Preparatory School's revenue has grown at a compound annual growth rate (CAGR) of 10.4%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | -2.2% | +3.0% | -5.5% |
| 2022 | +0.3% | +0.9% | -7.7% |
| 2021 | +22.7% | +18.5% | +1.0% |
| 2020 | +0.2% | +20.1% | +86.6% |
| 2019 | +16.0% | +16.7% | +9.4% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 2000 |
| IRS Ruling Date | 2008 |
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 Spartanburg Preparatory School 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, Spartanburg Preparatory School 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 $568K, with expenses exceeding revenue.
- Debt-to-asset ratio: 93.6%.
Executive Compensation Analysis
Spartanburg Preparatory School consistently reports 0% officer compensation across all available filings, indicating either that executive roles are unpaid or that compensation is reported under different categories, which is a positive sign for transparency regarding executive pay relative to the organization's size and revenue of over $7 million.
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 Spartanburg Preparatory School's IRS 990 filings:
- Recurring operating deficits (e.g., $7,885,239 expenses vs. $7,316,811 revenue in 2023).
- High and increasing liabilities relative to assets ($12,045,649 liabilities vs. $12,872,168 assets in 2023).
Strengths
The following positive indicators were identified for Spartanburg Preparatory School:
- Consistent growth in assets over the past decade, from $2,367,780 in 2014 to $12,872,168 in 2023.
- Transparent reporting of 0% officer compensation across all available filings.
- Significant revenue growth from $3,366,282 in 2014 to $7,316,811 in 2023, indicating expanding operations.
Frequently Asked Questions about Spartanburg Preparatory School
Is Spartanburg Preparatory School a legitimate charity?
Based on AI analysis of IRS 990 filings, Spartanburg Preparatory School (EIN: 208133996) some concerns. Mission Score: 75/100. 2 red flags identified, 3 strengths noted.
How does Spartanburg Preparatory School spend its money?
Spartanburg Preparatory School directs 85% of its spending to programs and services. The remaining budget covers administration and fundraising costs.
Are donations to Spartanburg Preparatory School tax-deductible?
Spartanburg Preparatory School is registered as a tax-exempt nonprofit (EIN: 208133996). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
How much does the Spartanburg Preparatory School CEO make?
Spartanburg Preparatory School's highest-compensated officer earns $7 annually. The organization reported $7.2M in total revenue. Executive compensation data is disclosed in IRS 990 filings.
What percentage of Spartanburg Preparatory School's spending goes to programs?
Spartanburg Preparatory School directs 85% to programs, 5% to fundraising. This exceeds the 65% industry benchmark for efficient nonprofits.
How does Spartanburg Preparatory School compare to similar nonprofits?
With a transparency score of 75/100 (Good), Spartanburg Preparatory School 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 Spartanburg Preparatory School located?
Spartanburg Preparatory School is headquartered in Spartanburg, South Carolina and files with the IRS under EIN 208133996. It is classified under NTEE code B29.
How many years of IRS 990 filings does Spartanburg Preparatory School have?
Spartanburg Preparatory School 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 $7.2M in total revenue.
Is Spartanburg Preparatory School financially sustainable given its recent operating deficits?
The organization has reported expenses exceeding revenue in recent years (e.g., $7,885,239 expenses vs. $7,316,811 revenue in 2023), which could impact long-term sustainability if not addressed.
What is the nature of Spartanburg Preparatory School's significant liabilities?
Liabilities have grown from $746,175 in 2014 to $12,045,649 in 2023, suggesting a substantial reliance on debt, likely for facility expansion or operations, which should be investigated further.
How does Spartanburg Preparatory School manage its cash flow with recurring deficits?
With expenses consistently higher than revenue in recent periods, the organization likely draws from reserves, relies on new financing, or has other non-operating income sources to cover the gap.
Filing History
IRS 990 filing history for Spartanburg Preparatory School showing financial trends over 13 years of public records:
Over 13 years of IRS 990 filings (2011–2023), Spartanburg Preparatory School's revenue has grown by 226.6%, moving from $2.2M to $7.3M. Total assets increased by 747.9% over the same period, from $1.5M to $12.9M. Total functional expenses rose by 351.2%, from $1.7M to $7.9M. In its most recent filing year (2023), Spartanburg Preparatory School reported a deficit of $568K, with expenses exceeding revenue. The organization holds $12.0M in liabilities against $12.9M in assets (debt-to-asset ratio: 93.6%), resulting in net assets of $827K.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $7.3M | $7.9M | $12.9M | $12.0M | — | — |
| 2022 | $7.5M | $7.7M | $13.6M | $12.2M | — | View 990 |
| 2021 | $7.5M | $7.6M | $14.8M | $13.1M | — | View 990 |
| 2020 | $6.1M | $6.4M | $14.6M | $12.9M | — | View 990 |
| 2019 | $6.1M | $5.3M | $7.8M | $5.7M | — | View 990 |
| 2018 | $5.2M | $4.6M | $7.2M | $5.8M | — | View 990 |
| 2017 | $4.2M | $4.8M | $6.8M | $5.9M | — | View 990 |
| 2016 | $3.8M | $4.0M | $8.5M | $6.9M | — | View 990 |
| 2015 | $3.6M | $3.5M | $2.6M | $917K | — | View 990 |
| 2014 | $3.4M | $3.1M | $2.4M | $746K | — | View 990 |
| 2013 | $3.0M | $2.7M | $2.2M | $874K | — | View 990 |
| 2012 | $2.8M | $2.4M | $1.9M | $827K | — | View 990 |
| 2011 | $2.2M | $1.7M | $1.5M | $901K | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $7.3M, expenses of $7.9M, and assets of $12.9M (revenue -2.2% year-over-year).
- 2022: Revenue of $7.5M, expenses of $7.7M, and assets of $13.6M (revenue +0.3% year-over-year).
- 2021: Revenue of $7.5M, expenses of $7.6M, and assets of $14.8M (revenue +22.7% year-over-year).
- 2020: Revenue of $6.1M, expenses of $6.4M, and assets of $14.6M (revenue +0.2% year-over-year).
- 2019: Revenue of $6.1M, expenses of $5.3M, and assets of $7.8M (revenue +16.0% year-over-year).
- 2018: Revenue of $5.2M, expenses of $4.6M, and assets of $7.2M (revenue +24.9% year-over-year).
- 2017: Revenue of $4.2M, expenses of $4.8M, and assets of $6.8M (revenue +8.9% year-over-year).
- 2016: Revenue of $3.8M, expenses of $4.0M, and assets of $8.5M (revenue +7.4% year-over-year).
- 2015: Revenue of $3.6M, expenses of $3.5M, and assets of $2.6M (revenue +6.3% year-over-year).
- 2014: Revenue of $3.4M, expenses of $3.1M, and assets of $2.4M (revenue +12.4% year-over-year).
- 2013: Revenue of $3.0M, expenses of $2.7M, and assets of $2.2M (revenue +8.5% year-over-year).
- 2012: Revenue of $2.8M, expenses of $2.4M, and assets of $1.9M (revenue +23.2% year-over-year).
- 2011: Revenue of $2.2M, expenses of $1.7M, and assets of $1.5M.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Spartanburg Preparatory School:
Data Sources and Methodology
This transparency report for Spartanburg Preparatory School 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.