Prep Inc
- Assets
- $496.4k
- Revenue
- $1.4m
- Investments
- $0.0
- Employees
- 6
- Location
- Tampa, FL
- Founding
- 08/2014
- Data as of
- 12/2022
- EIN
- 37-1741595
Organization Overview
Prep Inc is located in Tampa, FL. The organization was established in 2014. According to its NTEE Classification (N99) the organization is classified as: Recreation & Sports N.E.C., under the broad grouping of Recreation & Sports and related organizations. As of 12/2022, Prep Inc employed 6 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Prep 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 12/2022, Prep Inc generated $1.4m in total revenue. This organization has experienced exceptional growth, as over the past 8 years, it has increased revenue by an average of 14.0% each year . All expenses for the organization totaled $1.3m during the year ending 12/2022. While expenses have increased by 12.6% 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
TO PROMOTE AND FOSTER THE GROWTH OF YOUTH THROUGH TEAM SPORTS, PERSONAL TRAINING, AND EDUCATION, AS WELL AS PROVIDE COMMUNITY OUTREACH TO BOYS AND GIRLS IN THE GREATER TAMPA BAY AREA.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE ORGANIZATION PROMOTES AND FOSTERS THE GROWTH OF YOUTH BASEBALL, SOFTBALL, AND BASKETBALL AS FORMS OF RECREATIONAL AND COMPETITIVE PHYSICAL DEVELOPMENT,AS WELL AS PROVIDES COMMUNITY OUTREACH TO BOYS AND GIRLS IN THE GREATER TAMPA BAY AREA WITH EQUAL OPPORTUNITY TO PARTICIPATE AT THEIR INDIVIDUAL SKILL AND ABILITY LEVEL. THE ORGANIZATION PROVIDES COACHING AND SKILLS TRAINING FOR BASEBALL, SOFTBALL, AND BASKETBALL TEAMS IN THE TAMPA BAY AREA UNDER THE PROPER RULES AND REGULATIONS OF THE SPORTS. THE ORGANIZATION PROMOTES THROUGH THE ACTIONS, ATTITUDE, AND LEADERSHIP OF ITS PARTICIPANTS THE IDEAL OF GOOD SPORTSMANSHIP, AND RESPECT FOR PLAYERS, COACHES, OFFICIALS, AND ADMINISTRATORS. THE ORGANIZATION CREATES ENHANCED OPPORTUNITIES FOR YOUNG ATHLETES TO PARTICIPATE IN LEAGUES, TOURNAMENTS, AND COMPETITIVE EVENTS THAT WILL ENABLE SUCH ATHLETES TO DEVELOP THEIR BASEBALL, SOFTBALL, AND BASKETBALL SKILLS TO THEIR MAXIMUM POTENTIAL. THE ORGANIZATION PROVIDES PERSONAL TRAINING FOCUSED ON PROPER YOUTH AND ADULT EXERCISE FORM, EFFECTIVE AND INNOVATIVE WORKOUT ROUTINES, MODALITIES (CROSSFIT, MUSCLE CONFUSION, ETC.), AND NUTRITION PLANNING THAT ENHANCES THE ATHLETE'S HEALTH, WELLNESS, AND EFFICACY. THE ORGANIZATION OFFERS ACADEMIC MENTORING SERVICES AND DELIVERS EDUCATIONAL OPPORTUNITIES THROUGH ACADEMIC TUTORING, NUTRITIONAL SEMINARS, AND TEAM-BUILDING WORKSHOPS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Ron Salzman Executive Di | Officer | 20 | $0 |
Hamilton Jones Director | Trustee | 8 | $0 |
Eric Busser Director | Trustee | 2 | $0 |
George Guida Director | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $223,603 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $22,046 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $245,649 |
| Total Program Service Revenue | $1,190,701 |
| 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 | $1,436,350 |
| 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 | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $4,523 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $1,110 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $963,125 |
| Advertising and promotion | $4,118 |
| Office expenses | $7,325 |
| Information technology | $8,788 |
| Royalties | $0 |
| Occupancy | $192,306 |
| 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 | $0 |
| Insurance | $26,499 |
| All other expenses | -$765 |
| Total functional expenses | $1,256,380 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $496,424 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| 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 | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $496,424 |
| Accounts payable and accrued expenses | $0 |
| 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 | $0 |
| Net assets without donor restrictions | $496,424 |
| 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 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $496,424 |