Reach Prep Inc
- Assets
- $3.6m
- Revenue
- $1.9m
- Investments
- $0.0
- Employees
- 24
- Location
- Stamford, CT
- Founding
- 04/1996
- Data as of
- 06/2022
- EIN
- 06-1438889
Organization Overview
Reach Prep Inc is located in Stamford, CT. The organization was established in 1996. According to its NTEE Classification (B99) the organization is classified as: Education N.E.C., under the broad grouping of Education and related organizations. As of 06/2022, Reach Prep Inc employed 24 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Reach Prep Inc is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 06/2022, Reach Prep Inc generated $1.9m in total revenue. This represents relatively stable growth, over the past 4 years the organization has increased revenue by an average of 6.9% each year. All expenses for the organization totaled $1.9m during the year ending 06/2022. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
PROVIDE TRANSFORMATIVE EDUCATIONAL EXPERIENCES THAT EMPOWER UNDERSERVED STUDENTS
Describe the Organization's Program Activity:
Part 3 - Line 4a
MIDDLE, HIGH SCHOOL, AND COLLEGE PROGRAMS AND SERVICES (SEE SCHEDULE O):
ADMISSION AND PREP ACADEMY PROGRAM (SEE SCHEDULE O):
SUMMER OPPORTUNITIES (SEE SCHEDULE O):
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Paul L Triggiani Chair | OfficerTrustee | 2 | $0 |
Neil Augustine Vice Chair | OfficerTrustee | 2 | $0 |
Stephen Toy Treasurer | OfficerTrustee | 2 | $0 |
Judith Collins Secretary | OfficerTrustee | 2 | $0 |
Barbara Harty Director | Trustee | 2 | $0 |
Maxine K Armstrong Director | Trustee | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $102,815 |
| Related organizations | $0 |
| Government grants | $235,862 |
| All other contributions, gifts, grants, and similar amounts not included above | $1,182,879 |
| Noncash contributions included in lines 1a–1f | $47,207 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,521,556 |
| Total Program Service Revenue | $0 |
| Investment income | $44,552 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$17,433 |
| Net Income from Fundraising Events | $364,929 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,913,604 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $213,000 |
| Compensation of current officers, directors, key employees. | $10,776 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $839,959 |
| Pension plan accruals and contributions | $42,183 |
| Other employee benefits | $42,959 |
| Payroll taxes | $82,133 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $862 |
| Fees for services: Accounting | $46,033 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $10,130 |
| Fees for services: Other | $17,346 |
| Advertising and promotion | $0 |
| Office expenses | $34,484 |
| Information technology | $23,094 |
| Royalties | $0 |
| Occupancy | $200,729 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $10,631 |
| Insurance | $0 |
| All other expenses | $0 |
| Total functional expenses | $1,927,858 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $467,149 |
| Savings and temporary cash investments | $660,778 |
| Pledges and grants receivable | $230,193 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $21,932 |
| Net Land, buildings, and equipment | $25,207 |
| Investments—publicly traded securities | $2,206,458 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $18,961 |
| Total assets | $3,630,678 |
| Accounts payable and accrued expenses | $181,057 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $181,057 |
| Net assets without donor restrictions | $2,767,171 |
| Net assets with donor restrictions | $682,450 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $3,630,678 |