Prep for Prep
Prep for Prep reported $11.2 million in revenue and $15.5 million in expenses for the fiscal year ending June 30, 2025. Of every $100 it spent, $82.78 went to program services, $13.95 to management and general costs and $3.27 to fundraising. Its largest source of revenue was contributions and grants: 93.7% of the total. The highest compensation it reported for one person was $424,122 (CEO THROUGH 11/15/24). 8 people received more than $100,000 in reportable compensation. Revenue rose 22% between FY2020 and FY2025. Source: Form 990, FY2025.
Where $100 of spending went
The fiscal year ending June 30, 2025 · Form 990, Part IX, line 25 · total expenses $15MFor context, the median across 5,499 covered education charities: $85.56 programs, $13.59 management, $0.85 fundraising (medians computed separately, so they may not sum to $100).
Where $100 of revenue came from
The fiscal year ending June 30, 2025 · Form 990, Part VIII · total revenue $11MThe 990 scorecard · same measures for every charity, no grades
| Measure | FY2025 | Median |
|---|---|---|
| Program services Part IX 25(B) ÷ 25(A) | 82.8% | 84.4% |
| Management & general Part IX 25(C) ÷ 25(A) | 14.0% | 13.4% |
| Fundraising Part IX 25(D) ÷ 25(A) | 3.3% | 0.8% |
| Fundraising cost per $1 of contributions Part IX 25(D) ÷ Part VIII 1h | $0.05 | $0.04 |
| Contributions & grants share of revenue Part VIII 1h ÷ 12 | 93.7% | 19.1% |
| Government grants share of revenue Part VIII 1e ÷ 12 | 0.0% | 1.1% |
| Program service revenue share Part VIII 2g ÷ 12 | 0.0% | 69.9% |
| Highest reported compensation Part VII-A, columns D–F | $424,122 | $331,578 |
| Highest compensation as share of expenses Part VII-A ÷ Part IX 25(A) | 2.74% | 1.28% |
| People paid over $100,000 Part VII, line 2 | 8 | 8 |
| Net assets, in months of expenses Part X 33(B) ÷ monthly expenses | 47.9 | 13.3 |
| Independent voting board members Part VI 1a–1b | 79 of 79 | 100.0% |
A median is context, not a target: hospitals, universities, food banks and grantmakers spend in very different ways. What these measures can and can't tell you.
What the money paid for, in its own words
FY2025 · Form 990, Part III · the three largest programs by expensePreparatory programs prep redefines opportunity for top students in nyc public schools through exceptional academic and social preparedness programming a rigorous 14-month course of studythat results in placing approximately 200 students annually in leading nyc independent schools (in 7th grade) and northeastern boarding schools (in 9th grade). Our organizational budget investment in our students leverages roughly $40 million in financial aid for nearly 700 students (grades 7-12) annually committed by our partner schools to meet students' needs based on family household income
Counseling prep provides individual counseling for approximately 700 students annually throughout their time (ranging from 4-6 years) in independent day and boarding schools. Our counseling team monitors students' academic and social-emotional progress and provides assistance, including tutoring and emergency fund support, to students and their families as needed. The team works to equip students, who are also navigating adolescence, to address issues ranging from imposter syndrome to perfectionism; from anxiety to depression; from cultural divides to sense of belonging. Services and support…
Leadership development prep offers leadership development and professional advancement opportunities during high school and college to roughly 1,300 students annually. Activities include: sleep-away camp; a prep-sotheby's partnership for our summer arts academy; a prep-google partnership for our institute for entrepreneurship (ife); college guidance (including campus visits); student leadership retreats; summer internships and career seminars with leading firms, companies, nonprofits, and public service agencies; exposure to STEM fields and computer coding; travel abroad, international…
Highest reported compensation
FY2025 · Form 990, Part VII, Section A · roles as filed; names are in the filing, not here| Role | From this org | From related orgs | Other | Total |
|---|---|---|---|---|
| CEO THROUGH 11/15/24 Officer, 40.00 hrs/week | $404,769 | $0 | $19,353 | $424,122 |
| CEO FROM 11/18/24 Officer, 40.00 hrs/week | $283,826 | $0 | $30,870 | $314,696 |
| CHIEF OPERATING OFFICER Officer, 40.00 hrs/week | $245,150 | $0 | $29,954 | $275,104 |
| DIRECTOR OF DEVELOPMENT AN Highest compensated employee, 40.00 hrs/week | $229,867 | $0 | $23,314 | $253,181 |
| DIRECTOR OF ACADEMIC PROGR Highest compensated employee, 40.00 hrs/week | $208,937 | $0 | $31,432 | $240,369 |
| DIRECTOR OF ADMISSIONS Highest compensated employee, 40.00 hrs/week | $192,391 | $0 | $31,127 | $223,518 |
| DIRECTOR OF LEADERSHIP DEV Highest compensated employee, 40.00 hrs/week | $185,082 | $0 | $30,529 | $215,611 |
| DIRECTOR OF POST-PLACEMENT COUNSELING Highest compensated employee, 40.00 hrs/week | $168,432 | $0 | $25,403 | $193,835 |
8 people received more than $100,000 in reportable compensation from Prep for Prep (Part VII, line 2). Compensation of current officers, directors and key employees totaled $867K (Part IX, line 5).
6 years of filings
Form 990, Parts I, VII, IX and X · each row is that year's own filing, linkedGovernance answers, as filed
FY2025 · the organization's own yes/no answers; explanations, if any, are in Schedule O of the filing · what each means- Voting board members, and how many are independent Part VI, lines 1a–1b79 · 79 independent
- Audited financial statements Part XII 2bYes
- Conflict-of-interest policy Part VI 12aYes
- Whistleblower policy Part VI 13Yes
- Document retention policy Part VI 14Yes
- Independent process for top executive pay Part VI 15aYes
- Board given the 990 before filing Part VI 11aYes
- Family or business ties among insiders Part VI 2Yes
- Aware of a significant diversion of assets Part VI 5No
- Excess benefit transaction with an insider Part IV 25aNo
- Loans to or from insiders outstanding Part IV 26No
- Lobbying, or a 501(h) election in effect Part IV 4No
- Over $15,000 of professional fundraising services Part IV 18No
- Over $10,000 of activity outside the U.S. Part IV 14bNo
- Employees Part I, line 5225
- Volunteers Part I, line 6553
Largest outside contractors
FY2025 · Form 990, Part VII, Section B · businesses only| NYC SCHOOLBUS INC Transportation | $636,192 |
| ARABELLA ADVISORS Accounting services | $397,067 |
| AGILE CLOUD CONSULTING It consulting | $297,759 |
| INTRINSIC TECHNOLOGY GROUP INC It consulting | $140,033 |
Individuals listed as contractors are left out. 6 contractors were paid more than $100,000 in all.
Private foundation grants it received
110 private foundations reported grants to Prep for Prep totaling $3.3M on their tax year 2023 Form 990-PF returns. See which foundations, on WHOFUNDS.
Source: WHOFUNDS open grant graph, matched from Form 990-PF Part XV.
Correct a figure or respond
Every number above is copied from Prep for Prep's own Form 990. If one doesn't match the filing, that's our error and we'll fix it. If you work for Prep for Prep, you can publish a response that is linked from this page.
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Of every $100 Prep for Prep spent in FY2025, $82.78 went to programs. The full breakdown, from its IRS Form 990:
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Similar-sized charities in this cause
- Arise SchoolsNew Orleans, LA · revenue $11M · programs 72.1% · FY2023
- PLC Charter SchoolsTolleson, AZ · revenue $11M · programs 93.0% · FY2025
- Revolution AcademySummerfield, NC · revenue $11M · programs 69.6% · FY2025
- North Carolina School of Science and Mathematics FoundationDurham, NC · revenue $11M · programs 84.4% · FY2025
- Legacy Traditional School - North ChandlerChandler, AZ · revenue $11M · programs 79.4% · FY2025
Questions people ask
How much of Prep for Prep's spending goes to programs?
In the fiscal year ending June 30, 2025, Prep for Prep reported that 82.8% of its $15.5 million in expenses went to program services, 14.0% to management and general and 3.3% to fundraising (Form 990, Part IX).
How much does Prep for Prep pay its top executive?
The largest total compensation Prep for Prep reported for one person in the fiscal year ending June 30, 2025 was $424,122, for the role of CEO THROUGH 11/15/24 (Form 990, Part VII, including compensation from related organizations and other compensation).
Where does Prep for Prep get its money?
Of $11.2 million in revenue in the fiscal year ending June 30, 2025, 93.7% came from contributions and grants and 0.0% from program service revenue (Form 990, Part VIII).
Is Prep for Prep a registered charity?
The IRS lists EIN 13-2613383 as a 501(c)(3) organization (publicly supported organization (170(b)(1)(a)(vi))), and its records show contributions as tax-deductible. Form 990 filings on record here cover tax years 2019, 2020, 2021, 2022, 2023, 2024. A filing shows what the organization reported; it doesn't by itself show whether a program works.
Sources
- FY2025: Form 990 for the fiscal year ending June 30, 2025, object 202523189349310782 · read the filing · XML
- FY2024: Form 990 for the fiscal year ending June 30, 2024, object 202413189349303336 · read the filing
- FY2023: Form 990 for the fiscal year ending June 30, 2023, object 202313179349312271 · read the filing
- FY2022: Form 990 for the fiscal year ending June 30, 2022, object 202233149349307173 · read the filing
- FY2021: Form 990 for the fiscal year ending June 30, 2021, object 202103149349300800 · read the filing
- FY2020: Form 990 for the fiscal year ending June 30, 2020, object 202043149349304129 · read the filing
All filings for EIN 13-2613383: ProPublica Nonprofit Explorer · IRS Tax Exempt Organization Search. Figures are as the organization reported them; we have not audited them.