Children Of Promise Preparatory Academy Inc
- Assets
- $7.1m
- Revenue
- $4.5m
- Investments
- $0.0
- Employees
- 68
- Location
- Inglewood, CA
- Founding
- 03/2011
- Data as of
- 06/2020
- EIN
- 27-3714608
Organization Overview
Children Of Promise Preparatory Academy Inc is located in Inglewood, CA. The organization was established in 2011. According to its NTEE Classification (B29) the organization is classified as: Charter Schools, under the broad grouping of Education and related organizations. As of 06/2020, Children Of Promise Preparatory Academy Inc employed 68 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Children Of Promise Preparatory Academy 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 06/2020, Children Of Promise Preparatory Academy Inc generated $4.5m in total revenue. This represents relatively stable growth, over the past 6 years the organization has increased revenue by an average of 3.1% each year. All expenses for the organization totaled $4.9m during the year ending 06/2020. While expenses have increased by 8.5% 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
2020
Describe the Organization's Mission:
Part 3 - Line 1
TO DEVELOP A CURRICULUM THAT DEVELOPS VALUES AND WHOLENESS. WE WILL EQUIP EACH CHILD WITH HE TOOLS THEY NEED TO ACHIEVE THEIR PURPOSE IN LIFE.
Describe the Organization's Program Activity:
Part 3 - Line 4a
EDUCATIONAL SERVICES.
EDUCATIONAL SERVICES.
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PDF Copies of 990 Filings
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Kennedy Hilario | 40 | $114,835 | |
Dr Carleton Lincoln CEO | Officer | 40 | $111,480 |
Trena Lawson | 40 | $106,069 | |
Dr Richelle Brooks Director | Officer | 40 | $0 |
Naomi Cox Secretary | Trustee | 1 | $0 |
Henry Leopold Trustee | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $4,492,558 |
| Investment income | $1,678 |
| 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 | $4,494,236 |
| 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. | $111,480 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $2,254,012 |
| Pension plan accruals and contributions | $148,170 |
| Other employee benefits | $274,202 |
| Payroll taxes | $7,867 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $43,973 |
| Fees for services: Accounting | $38,468 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $637,394 |
| Advertising and promotion | $0 |
| Office expenses | $68,049 |
| Information technology | $60,481 |
| Royalties | $0 |
| Occupancy | $95,700 |
| Travel | $4,766 |
| 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 | $155,923 |
| Insurance | $38,594 |
| All other expenses | $0 |
| Total functional expenses | $4,914,608 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $948,882 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $750,688 |
| 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 | $5,349 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $7,118,858 |
| Accounts payable and accrued expenses | $119,624 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $5,195,000 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $5,314,624 |
| 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 | $1,804,234 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Children Of Promise Preparatory Academy Inc has recieved totaling $5,000.
| Awarding Organization | Amount |
|---|---|
Samuel & Latanya R Jackson Foundation Los Angeles, CA PURPOSE: DONATION TO THE ORGANIZATION'S GENERAL FUND TO FURTHER ITS MISSIONS | $5,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Partnerships To Uplift Communities Los Angeles Burbank, CA | $14,420,401 | $24,912,837 |
Literacy First Charter Schools El Cajon, CA | $29,290,072 | $23,446,904 |
Voices College-Bound Language Academies San Jose, CA | $26,350,864 | $21,078,147 |
Santa Rosa Academy Incorporated Menifee, CA | $46,198,054 | $16,730,823 |
Siatech Inc Oceanside, CA | $9,582,548 | $15,818,647 |
Grow Public Schools Bakersfield, CA | $14,803,093 | $23,549,288 |
Natomas Charter School Sacramento, CA | $32,806,693 | $20,875,289 |
Arizona Community Development Corporation Tucson, AZ | $20,473,547 | $20,902,974 |
Vista Charter Public Schools Los Angeles, CA | $62,725,425 | $20,964,484 |
Roseland Charter School Santa Rosa, CA | $53,872,700 | $25,562,169 |
Ofl William S Hart Inc Pasadena, CA | $11,952,405 | $20,153,084 |
New Designs Charter School Los Angeles, CA | $56,545,069 | $20,507,111 |