Shorecrest Preparatory School Inc
- Assets
- $87.8m
- Revenue
- $34.2m
- Investments
- $208.0k
- Employees
- 311
- Location
- St Petersburg, FL
- Founding
- 04/1975
- Data as of
- 06/2023
- EIN
- 23-7412158
Organization Overview
Shorecrest Preparatory School Inc is located in St Petersburg, FL. The organization was established in 1975. 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, Shorecrest Preparatory School Inc employed 311 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Shorecrest Preparatory School 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 06/2023, Shorecrest Preparatory School Inc generated $34.2m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 4.7% each year. All expenses for the organization totaled $30.3m during the year ending 06/2023. While expenses have increased by 5.0% per year over the past 8 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
SPS IS A COLLEGE PREPARATORY SCHOOL THAT EDUCATES LIFELONG LEARNERS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
SHORECREST PREPARATORY SCHOOL EDUCATED A COMMUNITY OF 1,056 STUDENTS FROM 3-YEARS-OLD THROUGH 12TH GRADE THROUGHOUT THE 2022-2023 SCHOOL YEAR. 91 STUDENTS GRADUATED FROM SHORECREST IN 2023, 100% OF WHOM WERE ACCEPTED TO COLLEGES AND UNIVERSITIES OF THEIR CHOICE. THE GRADUATING CLASS OF 2023 COLLECTIVELY CONTRIBUTED 10,500 HOURS OF SERVICE TO THE GREATER COMMUNITY THROUGHOUT THEIR TIME AT SHORECREST. 2023 MARKED THE SCHOOL'S CENTENNIAL, CELEBRATING 100 YEARS OF EDUCATIONAL EXCELLENCE IN THE TAMPA BAY AREA. ALSO IN 2023, SHORECREST LAUNCHED THE ROSS ROEDER INSTITUTE - A SCHOOLWIDE PROGRAM FOR FINANCIAL LITERACY, ECONOMICS AND ENTREPRENEURSHIP - AND ANNOUNCED THE EXPANSION OF THE LEARNING CENTER (CONTINUED ON SCHEDULE O)INTO THE CENTER FOR ACADEMIC EXCELLENCE - AN ACADEMIC ENRICHMENT AND SUPPORT PROGRAM THAT BENEFITS ALL STUDENTS AND TEACHERS AT THE SCHOOL.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
William T Conroy Chair | OfficerTrustee | 1 | $0 |
Pamela H Greacen Vice-Chair | OfficerTrustee | 1 | $0 |
Matthew Frey Treasurer | OfficerTrustee | 1 | $0 |
Andrea Silverman Secretary | OfficerTrustee | 1 | $0 |
Rebecca Armacost Trustee | Trustee | 1 | $0 |
Adam Befeler Trustee | Trustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Sage Dining Services Dining Services | 6/29/23 | $1,414,219 |
Conserv Building Services Inc Hvac Preventative Maintenance & Repair | 6/29/23 | $217,930 |
Emerald Facility Management Cleaning/janitorial Services | 6/29/23 | $424,664 |
Total Transport Llc Transportation Services | 6/29/23 | $124,115 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $15,651 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $2,524,756 |
| Noncash contributions included in lines 1a–1f | $7,485 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $2,540,407 |
| Total Program Service Revenue | $30,762,966 |
| Investment income | $784,116 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $69,286 |
| Net Gain/Loss on Asset Sales | -$95,271 |
| Net Income from Fundraising Events | $56,299 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $34,222,865 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $2,196,825 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $567,695 |
| Compensation of current officers, directors, key employees. | $533,447 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $12,727,060 |
| Pension plan accruals and contributions | $696,297 |
| Other employee benefits | $2,546,971 |
| Payroll taxes | $955,845 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $8,892 |
| Fees for services: Accounting | $62,765 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $28,459 |
| Fees for services: Other | $1,917,324 |
| Advertising and promotion | $231,854 |
| Office expenses | $39,648 |
| Information technology | $232,964 |
| Royalties | $0 |
| Occupancy | $1,497,155 |
| Travel | $47,342 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $44,658 |
| Interest | $309,846 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $2,300,318 |
| Insurance | $636,057 |
| All other expenses | $464,512 |
| Total functional expenses | $30,305,411 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,058,685 |
| Savings and temporary cash investments | $34,244,769 |
| Pledges and grants receivable | $1,153,698 |
| Accounts receivable, net | $103,758 |
| Loans from Officers, Directors, or Controlling Persons | $159,181 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $19,860 |
| Prepaid expenses and deferred charges | $416,254 |
| Net Land, buildings, and equipment | $30,945,597 |
| Investments—publicly traded securities | $9,293,422 |
| Investments—other securities | $208,012 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $10,170,115 |
| Total assets | $87,773,351 |
| Accounts payable and accrued expenses | $1,506,613 |
| Grants payable | $0 |
| Deferred revenue | $16,167,770 |
| Tax-exempt bond liabilities | $10,875,241 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $340,848 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $9,513,470 |
| Total liabilities | $38,403,942 |
| Net assets without donor restrictions | $45,052,034 |
| Net assets with donor restrictions | $4,317,375 |
| 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 | $87,773,351 |