Pine Lake Preparatory Inc
- Assets
- $43.3m
- Revenue
- $21.9m
- Investments
- $0.0
- Employees
- 288
- Location
- Mooresville, NC
- Founding
- 09/2008
- Data as of
- 06/2022
- EIN
- 06-1796895
Organization Overview
Pine Lake Preparatory Inc is located in Mooresville, NC. The organization was established in 2008. 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, Pine Lake Preparatory Inc employed 288 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Pine Lake Preparatory 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, Pine Lake Preparatory Inc generated $21.9m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 5.7% each year. All expenses for the organization totaled $18.9m during the year ending 06/2022. While expenses have increased by 1.9% 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
OPERATION OF A PUBLIC CHARTER SCHOOL.
Describe the Organization's Program Activity:
Part 3 - Line 4a
OPERATION OF A CHARTER SCHOOL IN MOORESVILLE, NORTH CAROLINA, SERVING APPROXIMATELY 1,890 STUDENTS FOR THE FISCAL YEAR ENDED JUNE 30, 2022.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Andrew Moceri Administrator | Officer | 40 | $148,825 |
Tim Hoffman Principal | Officer | 40 | $103,390 |
Shelly Sims Principal | Officer | 40 | $96,830 |
Jason Yanni Chairperson | OfficerTrustee | 2 | $0 |
Eduardo Haynes Vice Chair | OfficerTrustee | 2 | $0 |
Katie Davidson Treasurer | OfficerTrustee | 2 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Fle - Mama's Italian Eatery Lunch Vendor | 6/29/20 | $143,292 |
Vif- Participate Spanish Immersion Program | 6/29/20 | $128,070 |
Skyline Services Usa Janitoral Service | 6/29/20 | $124,809 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $1,113,256 |
| All other contributions, gifts, grants, and similar amounts not included above | $683,200 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,796,456 |
| Total Program Service Revenue | $20,103,398 |
| Investment income | $0 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $21,899,854 |
| 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. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $10,609,526 |
| Pension plan accruals and contributions | $2,036,408 |
| Other employee benefits | $987,340 |
| Payroll taxes | $774,795 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $46,150 |
| Fees for services: Accounting | $9,587 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $2,449 |
| Office expenses | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $281,551 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $1,703,745 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $1,745,964 |
| Insurance | $73,997 |
| All other expenses | $0 |
| Total functional expenses | $18,910,181 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $6,309,944 |
| Savings and temporary cash investments | $2,565,945 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $103,689 |
| 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 | $2,081 |
| Net Land, buildings, and equipment | $28,927,169 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $5,415,722 |
| Total assets | $43,324,550 |
| Accounts payable and accrued expenses | $159,296 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $29,610,000 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $509,335 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $29,895,723 |
| Total liabilities | $60,174,354 |
| Net assets without donor restrictions | -$16,849,804 |
| Net assets with donor restrictions | $0 |
| 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 | $43,324,550 |