Urban Prep Academies
- Assets
- $1.2m
- Revenue
- $11.7m
- Investments
- $0.0
- Employees
- 150
- Location
- Chicago, IL
- Founding
- 05/2004
- Data as of
- 06/2021
- 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 06/2021, Urban Prep Academies employed 150 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 06/2021, Urban Prep Academies generated $11.7m in total revenue. The organization has seen a slow decline revenue. Over the past 7 years, revenues have fallen by an average of (2.5%) each year. All expenses for the organization totaled $8.9m during the year ending 06/2021. As we would expect to see with falling revenues, expenses have declined by (8.0%) per year over the past 7 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
URBAN PREP ACADEMIES OPERATES A NETWORK OF PUBLIC CHARTER COLLEGE PREP SCHOOLS AND RELATED PROGRAMS
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 (100%) AND COLLEGE ENROLLMENT RATES (98%) AMONG CHICAGO PUBLIC SCHOOLS; PROVIDED TARGETED MENTORING/TUTORING TO APPROXIMATELY 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 |
|---|---|---|---|
Timothy King Board Chair & CEO | OfficerTrustee | 40 | $220,000 |
Dennis Lacewell Chief Academic Officer | 40 | $195,289 | |
Troy Boyd Chief Operating Officer | 40 | $140,000 | |
Joffrey Bywater Principal Bronzeville Camp | 40 | $123,627 | |
Joseph Mason Principal Englewood Camp | 40 | $113,325 | |
Daryll Lacey Principal West Campus | 40 | $105,000 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $10,752,169 |
| 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 | $11,715,247 |
| Statement of Expenses | |
|---|---|
| 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 to disqualified persons | $0 |
| Other salaries and wages | $5,359,913 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| 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 | $0 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $42,229 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $46,289 |
| Insurance | $0 |
| All other expenses | $0 |
| Total functional expenses | $8,902,804 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,028,531 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $38,174 |
| 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 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $13,975 |
| Total assets | $1,211,865 |
| Accounts payable and accrued expenses | -$43,408 |
| 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 | $0 |
| Other liabilities | $0 |
| Total liabilities | -$43,408 |
| Net assets without donor restrictions | $0 |
| 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 |
| Total liabilities and net assets/fund balances | $1,255,273 |
Grants Recieved
Over the last fiscal year, we have identified 7 grants that Urban Prep Academies has recieved totaling $86,043.
| Awarding Organization | Amount |
|---|---|
Albert J Speh Jr & Claire R Speh Foundation Rosemont, IL PURPOSE: GENERAL SUPPORT | $50,000 |
Meg And Tim Callahan Family Foundation Wilmington, DE PURPOSE: GENERAL & UNRESTRICTED | $15,000 |
Invest For Kids Inc Chicago, IL PURPOSE: To aid their exempt purpose | $10,000 |
American Online Giving Foundation Inc Newark, DE PURPOSE: GENERAL SUPPORT | $7,629 |
Organization Name not Listed PURPOSE: THE MISSION OF URBAN PREP IS TO PROVIDE A COMPREHENSIVE, HIGH-QUALITY COLLEGE PREPARATORY EDUCATION TO YOUNG MEN THAT RESULTS IN OUR GRADUATES SUCCEEDING IN COLLEGE. | | $2,000 |
Baird Foundation Inc Milwaukee, WI PURPOSE: EDUCATION | $1,214 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
University Of Chicago Charter School Corporation Chicago, IL | $14,482,747 | $19,743,627 |
Hope Educational & Research Center St Louis, MO | $196,443,117 | $45,382,338 |
Louisville Collegiate School Louisville, KY | $44,243,091 | $19,424,992 |
Canterbury School Inc Fort Wayne, IN | $14,789,368 | $17,058,422 |
Timothy Christian Schools Elmhurst, IL | $41,280,764 | $20,446,601 |
Kentucky Country Day School Inc Louisville, KY | $45,327,857 | $17,940,550 |
Milwaukee Science Education Consortium Inc Milwaukee, WI | $22,408,763 | $18,701,164 |
Prairie School Inc Racine, WI | $75,801,246 | $20,722,980 |
Sayre School Lexington, KY | $37,948,520 | $16,925,718 |
Lexington Christian Academy Inc Lexington, KY | $37,177,484 | $18,280,442 |
Lake Forest Country Day School Lake Forest, IL | $60,294,395 | $16,845,171 |
Indian Community School Inc Franklin, WI | $820,604,355 | $21,906,582 |