Prea Foundation Inc

Nonprofit profile at a glance

EIN
821060870
IRS 990 coverage
2018–2025
Forms available
Form 990 2025
Location
Hartford, CT, USA
Phone
8606926341
Rating
81
Verdict
STRONG
Rating confidence
Moderate
Sector
Vocational Counseling

Official website

Reported finances

Revenue
$5,806,171
Expenses
$4,311,800
Assets
$39,112,829
Liabilities
$108,216

Source: IRS Form 990. Selected filing: tax year 2025. Amounts in USD.

Leadership & pay

24 people listed

Executive titles in this filing

  • KEVIN FAXON (PRESIDENT)
  • LINDA ASSANTE (VICE PRESIDENT)
  • IVAN BARRON (EXECUTIVE DIRECTOR)

Highest reported compensation

  • IVAN BARRON (EXECUTIVE DIRECTOR): $354,026 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2025. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

The mission of prea foundation, inc. Is to advance the interests and values of the institutional real estate investment community by creating opportunities for people from all backgrounds to access and excel in the industry.

What it reported doing in 2025

The foundation provides financial support to qualified grantees which provide professional development programs and training to encourage individuals to pursue careers in the real estate industry. During the year ended december 31, 2025, the program served 7,952 students.

Operating model

Revenue model
Donor-supported. 93% of the money available for current operations came from contributions and gifts.
Distribution model
Grant intermediary. The nonprofit sent 89% of its reported program spending out as grants.
  • Includes noncash contributions: Reported contributions include donated property or goods.

The verdict

STRONG - A large share of available resources goes toward mission work and the filed numbers largely add up. Fundraising costs are high for each dollar raised and reported officer compensation is a large share of total spending, which may reflect staffing concentration.

Rating breakdown

  • Financial Efficiency: 70
  • Transparency & Controls: 79
  • Accountability: 100
  • Sustainability: 77
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 67.1%; rating input score 67
  • Program expense ratio: 83.7%; rating input score 84
  • Fundraising efficiency: $13.68 raised per $1 spent on fundraising; rating input score 47; 47th percentile among comparable filings

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
  • Pay-setting controls: 2 of 6 controls in place; rating input score 33
    • Compensation committee: Missing
    • Independent consultant: Missing
    • Other Form 990s reviewed: Missing
    • Written employment contract: Pass
    • Compensation survey or study: Missing
    • Board or committee approval: Pass
  • Foreign activity oversight: Limited
  • Grant itemization coverage: 100%; rating input score 100; 75th percentile among comparable filings
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 63rd percentile among comparable filings
  • Governance controls: 8 of 8 controls in place; rating input score 100
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: Pass
    • Other executive compensation review process: NotApplicable
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: 25.7%; rating input score 78; 78th percentile among comparable filings
  • Total-asset coverage ratio: 9.07; rating input score 88; 88th percentile among comparable filings
  • Liabilities to assets ratio: 0; rating input score 85; 85th percentile among comparable filings
  • Officer compensation ratio: 8.2%; rating input score 39; 39th percentile among comparable filings

Growth

  • Program expense growth: 34% per year; rating input score 100; 94th percentile among comparable filings
  • Revenue growth: 18.9% per year; rating input score 100; 85th percentile among comparable filings
  • Asset growth: 18.4% per year; rating input score 100; 81st percentile among comparable filings

Details

  • Where the money goes: 67.1% of revenue deployed · 83.7% of spending went to programs
  • Governance: 21 of 21 board members independent · 8 of 8 filing controls reported
  • Programs: 1 filed program accomplishment · $3.6M in reported program spending
  • Leadership: top reported pay $354K · 24 people listed · 2 of 6 pay-setting controls reported
  • Consistency: 32 of 32 current checks pass
  • Schedules: 7 filed schedules · includes major donors, grants, and executive pay
  • Filing history: 8 filing years from 2018 to 2025
  • Contacts: How to reach this organization
  • Money network: 6 filed money-flow records
  • Related organizations: 5 filed related-organization links
  • Grant readiness: Federal tax and exclusion status, award history, and grant-maker relationships.
  • People: Everyone the filings name, and which of them the filings identify by more than a name.

Key Signals

Signals prioritize questions for review. They are not findings of misconduct.

  • Moderate — Financial Efficiency: Fundraising efficiency scored 47/100.
  • Moderate — Sustainability: Officer compensation ratio scored 39/100.