Legal Prep Charter Academies
- Assets
- $6.7m
- Revenue
- $5.2m
- Investments
- $0.0
- Employees
- 47
- Location
- Chicago, IL
- Founding
- 02/2010
- Data as of
- 06/2021
- EIN
- 27-1071296
Organization Overview
Legal Prep Charter Academies is located in Chicago, IL. The organization was established in 2010. According to its NTEE Classification (B29) the organization is classified as: Charter Schools, under the broad grouping of Education and related organizations. As of 06/2021, Legal Prep Charter Academies employed 47 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Legal Prep Charter 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, Legal Prep Charter Academies generated $5.2m in total revenue. This represents relatively stable growth, over the past 6 years the organization has increased revenue by an average of 4.1% each year. All expenses for the organization totaled $4.2m during the year ending 06/2021. While expenses have increased by 0.2% per year over the past 6 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
LEGAL PREP WAS CREATED TO OPEN A LEGAL-THEMED CHARTER HIGH SCHOOL IN A HIGH-NEED CHICAGO COMMUNITY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
LEGAL PREP WAS CREATED TO OPEN A LEGAL-THEMED CHARTER HIGH SCHOOL IN A HIGH-NEED CHICAGO COMMUNITY. THE SCHOOL OPENED ITS FACILITY TO STUDENTS IN AUGUST 2012. THE SCHOOL SERVED 239 STUDENTS AT THE FRESHMAN, SOPHOMORE, JUNIOR, AND SENIOR GRADE LEVELS FOR THE YEAR ENDED JUNE 30, 2021. THE SCHOOL WILL PREPARE STUDENTS TO SUCCEED IN COLLEGE AND LIFE THROUGH A RIGOROUS CURRICULUM AND HIGH EXPECTATIONS.
LEGAL PREP WAS CREATED TO OPEN A LEGAL-THEMED CHARTER HIGH SCHOOL IN A HIGH-NEED CHICAGO COMMUNITY. THE SCHOOL OPENED ITS FACILITY TO STUDENTS IN AUGUST 2012. THE SCHOOL SERVED 239 STUDENTS AT THE FRESHMAN, SOPHOMORE, JUNIOR, AND SENIOR GRADE LEVELS FOR THE YEAR ENDED JUNE 30, 2021. THE SCHOOL WILL PREPARE STUDENTS TO SUCCEED IN COLLEGE AND LIFE THROUGH A RIGOROUS CURRICULUM AND HIGH EXPECTATIONS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Sam Finklestein CEO & Ex-Officio Member | Officer | 40 | $139,553 |
Rather Stanton COO & Ex-Officio Member | Officer | 40 | $139,200 |
Katie-Jo Ramirez Principal | 40 | $100,272 | |
Bryan Westhoff Vice President | OfficerTrustee | 5 | $0 |
Jason Brown President | OfficerTrustee | 5 | $0 |
Heather Fine Secretary | OfficerTrustee | 5 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $4,769,496 |
| All other contributions, gifts, grants, and similar amounts not included above | $359,404 |
| Noncash contributions included in lines 1a–1f | $9,018 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $5,128,900 |
| Total Program Service Revenue | $103,092 |
| 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 | $5,231,992 |
| 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. | $343,183 |
| Compensation of current officers, directors, key employees. | $74,377 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $1,802,191 |
| Pension plan accruals and contributions | $194,871 |
| Other employee benefits | $278,658 |
| Payroll taxes | $82,162 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $5,000 |
| Fees for services: Accounting | $39,672 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $65,326 |
| Advertising and promotion | $49,434 |
| Office expenses | $28,061 |
| Information technology | $286,542 |
| Royalties | $0 |
| Occupancy | $152,434 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $34,385 |
| Interest | $335,946 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $207,645 |
| Insurance | $48,103 |
| All other expenses | $0 |
| Total functional expenses | $4,213,080 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $327,384 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $140,342 |
| 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 | $15,345 |
| Net Land, buildings, and equipment | $6,231,371 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $1,000 |
| Total assets | $6,715,442 |
| Accounts payable and accrued expenses | $244,219 |
| 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 | $5,370,604 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $5,614,823 |
| Net assets without donor restrictions | $1,083,119 |
| Net assets with donor restrictions | $17,500 |
| 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 | $6,715,442 |
Grants Recieved
Over the last fiscal year, we have identified 5 grants that Legal Prep Charter Academies has recieved totaling $13,035.
| Awarding Organization | Amount |
|---|---|
Eddema Foundation Oak Park, IL PURPOSE: LEGAL THEMED EDUCATION TO STUDENT | $5,000 |
Sidley Austin Foundation Chicago, IL PURPOSE: GENERAL SUPPORT | $5,000 |
David C Petrick And Ellen R Petrick Foundation Frankfort, MI PURPOSE: TO SUPPORT EDUCATION FOR UNDERPRIVILEGED. | $2,000 |
Amg Charitable Gift Foundation Greenwood Village, CO PURPOSE: EDUCATION | $1,000 |
Amazonsmile Foundation Seattle, WA PURPOSE: GENERAL SUPPORT | $35 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Seeds Of Health Milwaukee, WI | $21,433,274 | $18,248,715 |
Ewing Marion Kauffman School Inc Kansas City, MO | $12,328,924 | $22,686,630 |
Hmong American Peace Academy Ltd Milwaukee, WI | $62,055,663 | $22,180,285 |
Crossroads Charter Schools Kansas City, MO | $14,061,355 | $16,288,564 |
Career Academy Of South Bend Inc South Bend, IN | $28,812,268 | $15,770,291 |
Southland College Prep Charter School Inc Richton Park, IL | $5,970,929 | $14,846,011 |
21st Century Charter School At Gary Inc Indianapolis, IN | $16,296,159 | $15,193,404 |
Avondale Meadows Academy Inc Indianapolis, IN | $23,354,036 | $14,362,990 |
Herron High School Inc Indianapolis, IN | $19,992,400 | $15,381,017 |
Tindley Accelerated Schools Inc Indianapolis, IN | $17,393,569 | $14,658,459 |
Lighthouse Academies Of Indiana Inc Indianapolis, IN | $16,035,849 | $15,931,838 |
Paramount School Of Excellence Incorporated Indianapolis, IN | $17,346,083 | $12,116,236 |