D C Preparatory Academy is located in Washington, DC. The organization was established in 2003. According to its NTEE Classification (B29) the organization is classified as: Charter Schools, under the broad grouping of Education and related organizations. As of 06/2022, D C Preparatory Academy employed 442 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. D C Preparatory Academy 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, D C Preparatory Academy generated $62.3m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 10.0% each year . All expenses for the organization totaled $53.3m during the year ending 06/2022. While expenses have increased by 7.5% per year over the past 7 years. They've been increasing with an increasing level of total revenue. 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
DC PREP IS A NETWORK OF PUBLIC CHARTER SCHOOLS SERVING STUDENTS IN WASHINGTON, DC.
Describe the Organization's Program Activity:
Part 3 - Line 4a
AT DC PREP, OUR VISION IS THAT EVERY CHILD WILL BE PREPARED ACADEMICALLY AND SOCIALLY FOR A SUCCESSFUL FUTURE. WE HAVE BIG DREAMS FOR OUR STUDENTS AND MAKE THOSE DREAMS A REALITY THROUGH DAILY EFFORT, FOCUS AND SUPPORT OF ONE ANOTHER AND OUR STUDENTS AND FAMILIES. DC PREP CURRENTLY OPERATES SIX TUITION-FREE PUBLIC CHARTER SCHOOLS THAT ARE OPEN TO ANY CHILD IN WASHINGTON, ENROLLING MORE THAN 2,100 STUDENTS IN GRADES PRESCHOOL THROUGH 8TH GRADE. HISTORICALLY, 89% OF DC PREP STUDENTS ARE AFRICAN-AMERICAN AND 7% ARE HISPANIC; OVER 80% OF STUDENTS LIVE IN POVERTY, AS MEASURED BY ELIGIBILITY FOR FREE/REDUCED PRICE MEALS.DC PREP HAS A TWIN FOCUS ON HIGH QUALITY ACADEMICS AND SOCIAL-EMOTIONAL GROWTH. DURING OUR 20 YEARS AS A CHARTER NETWORK, WE HAVE ACHIEVED SIGNIFICANT RESULTS ACROSS THREE KEY AREAS: QUALITY REPORTS, OSSE REPORT CARDS, AND ALUMNI SUCCESS. EACH YEAR, THE DC PUBLIC CHARTER SCHOOL BOARD ISSUES AN OVERALL RANKING OF SCHOOLS' ACADEMIC AND CULTURE PROGRESS, RANKING EACH SCHOOL BETWEEN TIER 1 (THE HIGHEST) AND TIER 3 (THE LOWEST). ALL FIVE DC PREP CAMPUSES EARNED A TIER 1 RANKING ON THE 2019 SCHOOL QUALITY REPORTS, THE HIGHEST RANKING. ADDITIONALLY, AEC RECEIVED ONE OF THE HIGHEST SCORES IN THE CITY. THE DC OFFICE OF THE STATE SUPERINTENDENT OF EDUCATION RELEASES AN ANNUAL ASSESSMENT OF SCHOOL PERFORMANCE. THIS SERVES AS A COMPREHENSIVE OVERVIEW OF HOW SCHOOLS ARE PREPARING STUDENTS FOR OVERALL SUCCESS. IN ITS INAUGURAL YEAR, OSSE AWARDED ALL ELIGIBLE DC PREP CAMPUSES FOUR STARS. ALL DC PUBLIC CHARTER SCHOOLS MUST UNDERGO THE ACCREDITATION PROCESS EVERY FIVE YEARS TO REMAIN ELIGIBLE FOR OPERATION IN THE CITY. THE ACCREDITATION PROCESS IS CONDUCTED BY AN INDEPENDENT THIRD-PARTY ACCREDITATION ORGANIZATION TO EVALUATE AN LEA'S PERFORMANCE AGAINST A NUMBER OF PERFORMANCE STANDARDS EVALUATING LEADERSHIP, LEARNING, AND RESOURCE CAPACITY. IN ITS MOST RECENT ACCREDITATION REVIEW BY COGNIA, DC PREP EARNED AN INDEX OF EDUCATION QUALITY (IEQ) SCORE OF 387 OUT OF A POSSIBLE 400 POINTS. THE FIVE-YEAR AVERAGE OF INSTITUTIONS IN COGNIA'S ACCREDITATION NETWORK IS 278-283.DC PREP IS COMMITTED TO THE SUCCESS OF OUR ALUMNI IN HIGH SCHOOL AND THROUGH COLLEGE AND CAREER. OUR GOAL IS FOR ALL OF OUR STUDENTS TO MOVE TO AND THROUGH A STRONG POST-SECONDARY PATHWAY AND INTO AN INTEREST-ALIGNED CAREER THAT ALLOWS FOR ECONOMIC SELF-SUFFICIENCY. PREPNEXT SUPPORTS ALL DC PREP ALUMNI FOR 10 YEARS AFTER 8TH-GRADE GRADUATION THROUGHOUT THEIR EDUCATIONAL JOURNEYS AND THE START OF THEIR CAREERS, FOCUSING ESPECIALLY ON TIMES OF TRANSITION: 8TH TO 9TH GRADE, HIGH SCHOOL TO HIGHER EDUCATION, AND SCHOOL TO CAREER. EVERY DC PREP 8TH GRADE GRADUATE (600+) HAS BEEN ACCEPTED BY A COLLEGE-PREP HIGH SCHOOL, WITH OVER TWO-THIRDS OFFERED ADMISSION TO SELECTIVE SCHOOLS INCLUDING BENJAMIN BANNEKER, CHOATE ROSEMARY HALL, THE FIELD SCHOOL, GEORGETOWN PREP, THE HILL SCHOOL, MARET, PHILLIPS EXETER ACADEMY, ST. ALBANS, SIDWELL FRIENDS SCHOOL, AND SCHOOL WITHOUT WALLS, AMONG OTHERS. OUR STUDENTS HAVE GONE ON TO GRADUATE FROM HIGH SCHOOL AT AN AVERAGE RATE OF 95%, SIGNIFICANTLY HIGHER THAN THE DCPS AVERAGE OF 74% AND THE NATIONAL AVERAGE OF 84%. IN ADDITION, OF OUR ALUMNI WHO MATRICULATED TO COLLEGE, 42% SINCE 2007 AND 65% OF THE COLLEGE MATRICULANTS FROM OUR MOST RECENT CLASS HAVE GRADUATED COLLEGE WITHIN 6 YEARS, COMPARED TO 55% NATIONWIDE AND 11% FOR FIRST-GENERATION, LOW-INCOME STUDENTS OF COLOR. BASED ON CURRENT COLLEGE MATRICULATION & COLLEGE PERSISTENCE RATES, WE ANTICIPATE THAT OUR ALUMNI'S COLLEGE GRADUATION RATE WILL CONTINUE TO INCREASE IN THE NEXT FEW YEARS.
Name (title) | Role | Hours | Compensation |
---|---|---|---|
Patrick Clowney Chair | OfficerTrustee | 5 | $0 |
Hadley Cooper Secretary | OfficerTrustee | 1 | $0 |
Jenny Abramson Director | Trustee | 1 | $0 |
Collette Bruce Director | Trustee | 1 | $0 |
Nicole Davy Director - Until 09/2022 | Trustee | 1 | $0 |
Leroy Terry Eakin III Director | Trustee | 1 | $0 |
Vendor Name (Service) | Service Year | Compensation |
---|---|---|
Mcn Build Construction Services | 6/29/22 | $1,048,173 |
End-to-end Solutions For Special Educati Special Education Services | 6/29/22 | $784,082 |
Pmm Companies Janitorial And Facility Mgmt Services | 6/29/22 | $617,788 |
Edops Accounting, Facility Support Services | 6/29/22 | $473,503 |
Revolution Foods Food Services | 6/29/22 | $456,770 |
Statement of Revenue | |
---|---|
Federated campaigns | $0 |
Membership dues | $0 |
Fundraising events | $0 |
Related organizations | $0 |
Government grants | $50,941,913 |
All other contributions, gifts, grants, and similar amounts not included above | $1,339,148 |
Noncash contributions included in lines 1a–1f | $304,796 |
Total Revenue from Contributions, Gifts, Grants & Similar | $52,281,061 |
Total Program Service Revenue | $1,713,360 |
Investment income | $29,398 |
Tax Exempt Bond Proceeds | $0 |
Royalties | $0 |
Net Rental Income | $0 |
Net Gain/Loss on Asset Sales | $8,241,572 |
Net Income from Fundraising Events | $0 |
Net Income from Gaming Activities | $0 |
Net Income from Sales of Inventory | $0 |
Miscellaneous Revenue | $0 |
Total Revenue | $62,324,675 |
Statement of Expenses | |
---|---|
Grants and other assistance to domestic organizations and domestic governments. | $375,000 |
Grants and other assistance to domestic individuals. | $25,484 |
Grants and other assistance to Foreign Orgs/Individuals | $0 |
Benefits paid to or for members | $0 |
Compensation of current officers, directors, key employees. | $1,117,506 |
Compensation of current officers, directors, key employees. | $747,349 |
Compensation to disqualified persons | $0 |
Other salaries and wages | $27,594,738 |
Pension plan accruals and contributions | $657,412 |
Other employee benefits | $2,233,295 |
Payroll taxes | $2,338,765 |
Fees for services: Management | $0 |
Fees for services: Legal | $309,389 |
Fees for services: Accounting | $678,751 |
Fees for services: Lobbying | $0 |
Fees for services: Fundraising | $0 |
Fees for services: Investment Management | $0 |
Fees for services: Other | $59,970 |
Advertising and promotion | $0 |
Office expenses | $678,843 |
Information technology | $391,403 |
Royalties | $0 |
Occupancy | $5,557,432 |
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 | $2,778,577 |
Insurance | $231,620 |
All other expenses | $901,912 |
Total functional expenses | $53,286,323 |
Balance Sheet | |
---|---|
Cash—non-interest-bearing | $14,947,836 |
Savings and temporary cash investments | $6,269,466 |
Pledges and grants receivable | $4,786,898 |
Accounts receivable, net | $289,457 |
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 | $532,989 |
Net Land, buildings, and equipment | $69,756,167 |
Investments—publicly traded securities | $10,011,212 |
Investments—other securities | $0 |
Investments—program-related | $0 |
Intangible assets | $0 |
Other assets | $4,711,604 |
Total assets | $111,305,629 |
Accounts payable and accrued expenses | $11,449,676 |
Grants payable | $0 |
Deferred revenue | $33,745 |
Tax-exempt bond liabilities | $37,633,755 |
Escrow or custodial account liability | $0 |
Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
Secured mortgages and notes payable | $22,911,894 |
Unsecured mortgages and notes payable | $0 |
Other liabilities | $0 |
Total liabilities | $72,029,070 |
Net assets without donor restrictions | $39,102,059 |
Net assets with donor restrictions | $174,500 |
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 | $111,305,629 |