Urban Prep Academies
- Assets
- $2.3m
- Revenue
- $8.3m
- Investments
- $0.0
- Employees
- 158
- Location
- Chicago, IL
- Founding
- 05/2004
- Data as of
- 06/2023
- EIN
- 20-0138672
Organization Overview
Urban Prep Academies is located in Chicago, IL. The organization was established in 2004. According to its NTEE Classification (B20) the organization is classified as: Elementary & Secondary Schools, under the broad grouping of Education and related organizations. As of 06/2023, Urban Prep Academies employed 158 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Urban Prep Academies 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 06/2023, Urban Prep Academies generated $8.3m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 8 years, the organization has seen revenues fall by an average of (6.4%) each year. All expenses for the organization totaled $9.2m during the year ending 06/2023. As we would expect to see with falling revenues, expenses have declined by (6.7%) per year over the past 8 years. 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
TO PROVIDE A COMPREHENSIVE, HIGH QUALITY, COLLEGE PREPARATORY EDUCATION THAT RESULTS IN GRADUATES SUCCEEDING IN COLLEGE. THE OPERATION OF A NETWORK OF PUBLIC CHARTER COLLEGE PREP HIGH SCHOOLS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
DURING THE YEAR, URBAN PREP HAS ENROLLED OVER 1200 STUDENTS; ACHIEVED THE HIGHEST COLLEGE ACCEPTANCE RATES (100%) AND COLLEGE ENROLLMENT RATES (98%) AMONG CHICAGO PUBLIC SCHOOLS; PROVIDED TARGETED MENTORING AND TUTORING TO APPOXIMATELY 400 9TH GRADE STUDENTS; PROVIDED POST HIGH SCHOOL COUNSELING TO OVER 200 GRADUATES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Craig Carter Board Chairman | Trustee | 1 | $0 |
Khoury Cooper Secretary | Trustee | 1 | $0 |
Benjamin Blakeley Director | Trustee | 1 | $0 |
Sterling Williams Director | Trustee | 1 | $0 |
Theatris Childress Director | Trustee | 1 | $0 |
Nigel Bruce Director | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $8,024,621 |
| All other contributions, gifts, grants, and similar amounts not included above | $119,112 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $8,143,733 |
| Total Program Service Revenue | $37,209 |
| 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 | $8,277,718 |
| 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 | $5,059,751 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $805,544 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $1,253,890 |
| 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 | $10,228 |
| Insurance | $0 |
| All other expenses | $0 |
| Total functional expenses | $9,185,331 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,405,199 |
| Savings and temporary cash investments | $10,000 |
| Pledges and grants receivable | $856,601 |
| 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 | $0 |
| Net Land, buildings, and equipment | $39,507 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $13,975 |
| Total assets | $2,325,282 |
| Accounts payable and accrued expenses | $595,747 |
| 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 | $1,836,860 |
| Other liabilities | $0 |
| Total liabilities | $2,432,607 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | -$107,325 |
| 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 | $2,325,282 |