Prepare INC EIN 87-3510314

Prepare INC

EIN  87-3510314 Public charity (501(c)(3)) Gaithersburg, MD Founded 2021
Form 990 (PDF) Compare with another nonprofit →
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Size
$100K–1M
What they do
Helps individuals present their best case for parole and create successful reentry plans.
Leadership
Anne Bocchini Pack · Co-Founder Director of Advocacy · $74K
Money in and out
$617K revenue, $576K expenses
Bottom line
92% program efficiency

Helps individuals present their best case for parole and create successful reentry plans. For fiscal year 2024 it reported $617K in revenue, $576K in expenses, and $275K in net assets.Pt I

Where the money goes · FY2024
Total revenue
$617K
Pt VIII · Ln 12
Total expenses
$576K
Pt IX · Ln 25
Net assets
$275K
Pt X · Ln 32
Revenue less expenses (Pt I · Ln 19): $41K
Where spending went · Part IX cols B–D
Program services $0.92 Management & general $0.04 Fundraising $0.03
Program efficiency
92%
of spending reaches programs▲ +9% vs prior filing year
Operating runway
3.5mo
months of highly liquid reserves at operating expense rate▼ -31% vs prior filing year
Surplus margin
+7%
revenue over expenses, this year▼ -79% vs prior filing year

Summary of the Filing

Part I · fiscal year 2024 · Form 990
Revenue
$617K
FY2024▲ +34%
Expenses
$576K
FY2024▲ +84%
Total assets
$316K
FY2024▲ +5%
Total liabilities
$41K
FY2024▲ +20%
Total revenue
$617K
Pt VIII · Ln 12
Total expenses
$576K
Pt IX · Ln 25
Net assets
$275K
Pt X · Ln 32
Revenue less expensesPt I · Ln 19$41K
Total assetsPt X · Ln 16$316K
Program-expense ratioPt IX · col B92%
Voting members of governing bodyPt I · Ln 310
Independent voting membersPt I · Ln 410
Mission & Programs · Part III

Where the work happens

3 program services account for $506K of program spending, described in the organization's own filed words · FY2024.
01

support incarcerated individuals with producing a parole packet to present to the Maryland Parole Commission to make their case for parole

$278Kprogram expense
02

support incarcerated individuals with developing and executing successful reentry plans upon release

$152Kprogram expense
03

support returning citizens as they adjust and develop post-release

$76Kprogram expense

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Identity & Classification

Form 990 Header · IRS Business Master File
Legal nameHdr · item CPrepare INC
EINHdr · item D87-3510314
Principal addressHdr · item CGaithersburg, MD
WebsiteHdr · item Jnone reported
Year of formationHdr · item L2021
State of legal domicileHdr · item MMD
Exempt statusHdr · item I501(c)(3) · active
NTEE classificationIRS BMFHuman Services (P20)
Ruling yearIRS BMFDec 2022

Governance & Policies

Part VI
Voting members of the governing bodyPt VI · Ln 1a10
Independent voting membersPt VI · Ln 1b10
Conflict-of-interest policyPt VI · Ln 12aYes
Whistleblower policyPt VI · Ln 13Yes
Document retention policyPt VI · Ln 14Yes
CEO/top-official compensation independently reviewedPt VI · Ln 15aNo
Family or business relationships among officers/directorsPt VI · Ln 2No

Officers, Directors & Key Employees

Part VII, Section A · reportable compensation
Co-Founder Director of Advocacy
$73,946Pt VII · Sec A
Co-Founder Director of Parole
$43,432Pt VII · Sec A
Founder Director of Second Chance
$30,320Pt VII · Sec A
Co-Founder Director of Development
$4,011Pt VII · Sec A
President of the Board of Directors
$0Pt VII · Sec A
Vice President of the Board of Dire
$0Pt VII · Sec A
Treasurer of the Board of Directors
$0Pt VII · Sec A
Member of the Board of Directors
$0Pt VII · Sec A

Anne Bocchini Pack’s $74K as Co-Founder Director of Advocacy is at the 65th percentile of top reported officer pay among 2165 $100K–1M human services nonprofits. Peer set: organizations in the same NTEE major field of work and revenue-size band, compared on each org’s own highest-paid officer/key-employee, from Form 990 Part VII / 990-PF Part VIII. Descriptive placement, not a verdict on whether the pay is appropriate.

Compensation history total reportable pay by year · 6 named individuals · Part VII

NameFY2024FY2023
Anne Bocchini Pack$73,946
Anne Bocchini Kirsch$64,824
Jacqueline Ahn$43,432$28,587
Maryjoel Davis$30,320$19,336
Kathryn Eliscar$7,575
Elizabeth Finne$4,011

Total reportable compensation (Form 990 Part VII column D / Schedule J column E) by filing year, matched by name within this organization. The Schedule J base / bonus / deferred breakdown is not parsed into this dataset.

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Statement of Revenue

Part VIII
Contributions & grants100%$617K
Other revenue$250
— government grantsLn 1e$380K
Total revenueLn 12$617K

Statement of Functional Expenses

Part IX · allocated across program, management, and fundraising
Allocation · columns B–D
Program services $0.92 Management & general $0.04 Fundraising $0.03
Program services92%$531K
Management & general4%$26K
Fundraising3%$19K
Total functional expensesLn 25$576K

Balance Sheet

Part X · end of year
CashLn 1$168K
Total assetsLn 16$316K
Total liabilitiesLn 26$41K
Total net assetsLn 32$275K
Months of cash on handcomputed3.5

Financial Metrics

Form 990 · FY2024 · each ratio shown with the dollars behind it
Liquidity & Payout
Operating runway
Highly liquid reserves $168K · Operating expenses/yr $576K
3.5 months
Where the money goes
Program services
Program services $531K · Total expenses $576K
92%
Management & General
Management & general $26K · Total expenses $576K
4%
Fundraising
Fundraising $19K · Total expenses $576K
3%
Cost to raise $1
Fundraising expense (2-yr avg) $14K · Solicited contributions (2-yr avg) $255K
$0.06 to raise $1 (2-yr avg)
Where the money comes from
Contribution dependence
Contributions & grants $617K · Total revenue $617K
100%
Government reliance
Government grants $380K · Total revenue $617K
62%
Earned-income share
Program service revenue $0 · Total revenue $617K
0%
Investment reliance
Investment income $0 · Total revenue $617K
0%
Program self-sufficiency
Program service revenue $0 · Total expenses $576K
0%
Growth & trend
Revenue growth (YoY)
This year $617K · Prior year $459K
+34%
Net-asset trend (YoY)
End of year $275K · Beginning of year —
Beginning net assets not meaningfully positive — showing dollar change
Balance sheet
Surplus Margin
Revenue $617K · Expenses $576K
+7%
Liabilities-to-Assets
Total liabilities — · Total assets $316K
Net-asset ratio
Net assets $275K · Total assets $316K
87%
Marketable Investment Share
Publicly traded securities (Pt X, ln 11) $0 · Other securities (Pt X, ln 12) $0 · Total assets (Pt X, ln 16) $316K
0%
People & payroll
Highest Reported Total Compensation
Individual Anne Bocchini Pack · Reported title Co-founder Director of Advocacy · Highest reported compensation $74K · Total expenses $576K
13%
Personnel share
Salaries, benefits & payroll (Pt IX 5-10) $324K · Total expenses $576K
56%
Peer comparison

Same NTEE category, revenue band, and state where available. Descriptive — not a grade.

MetricThis orgPeer medianPercentile
Program ratio 92%
Overhead ratio 4%
Fundraising cost ratio 3%
Revenue growth 34%
Investment management fee ratio 0%
Legal fee ratio 0%
Accounting fee ratio 1%
Fundraising fee ratio 0%

Straight from the Form 990 — descriptive, not an evaluation. A ratio is hidden when its base is zero or too small to be meaningful; the dollars are always shown.

Grants

Schedule I · funders on record
Grants received · FY2024
Total grants receivedfrom 3 funders$72K
See all 3 funders →

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Filings & Schedule Manifest

Part IV
III · Programs I · Grants R · Related orgs G · Fundraising L · Interested persons A · Public support F · Foreign M · Noncash
FY2024 (Latest)$617K revenue · viewing · ⤓ 990 PDF
FY2023$459K revenue · ⤓ 990 PDF

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Sources

Every figure above is drawn from these filings
Form 990 e-file (XML) · FY2024IRS
Classification, formation year, addressIRS Business Master File
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