Life Prep
- Assets
- $2.5m
- Revenue
- $4.0m
- Investments
- $0.0
- Employees
- 65
- Location
- St Paul, MN
- Founding
- 07/1998
- Data as of
- 06/2021
- EIN
- 41-1900808
Organization Overview
Life Prep is located in St Paul, MN. The organization was established in 1998. According to its NTEE Classification (B99) the organization is classified as: Education N.E.C., under the broad grouping of Education and related organizations. As of 06/2021, Life Prep employed 65 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Life Prep 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, Life Prep generated $4.0m in total revenue. The organization has seen a slow decline revenue. Over the past 6 years, revenues have fallen by an average of (2.5%) each year. All expenses for the organization totaled $3.9m during the year ending 06/2021. As we would expect to see with falling revenues, expenses have declined by (2.3%) per year over the past 6 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
TO PREPARE THE STUDENTS ENROLLED FOR A LIFE OF SUCCESS FOR STUDENTS PRESCHOOL - GRADE 6.
Describe the Organization's Program Activity:
Part 3 - Line 4a
EDUCATIONAL SERVICES
FOOD SERVICES
PRESCHOOL AND BEFORE AFTERCARE PROGRAM
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Leah Jones Director | Trustee | 40 | $96,566 |
Christine Obemueller Member | Trustee | 5 | $48,213 |
Katie Schlosser Member | Trustee | 5 | $44,280 |
Nou Yang Board Chair | OfficerTrustee | 5 | $0 |
Michael Day Vice Chair | OfficerTrustee | 5 | $0 |
Pang Vang Member | OfficerTrustee | 5 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Monarch Bus Service Student Transportation | 6/29/16 | $279,511 |
Caravan Kids Catering Food Service | 6/29/16 | $241,771 |
Family Achievement Center Special Ed Services | 6/29/16 | $235,343 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $3,901,637 |
| All other contributions, gifts, grants, and similar amounts not included above | $62,561 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $3,964,198 |
| Total Program Service Revenue | $0 |
| 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 | $3,964,198 |
| 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 | $1,839,023 |
| Pension plan accruals and contributions | $363,695 |
| Other employee benefits | $264,707 |
| Payroll taxes | $138,325 |
| 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 | $490,955 |
| Advertising and promotion | $0 |
| Office expenses | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $475,988 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $2,219 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $16,774 |
| Insurance | $41,496 |
| All other expenses | $0 |
| Total functional expenses | $3,942,877 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,037,025 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $243,330 |
| 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 | $42,706 |
| Net Land, buildings, and equipment | $21,028 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $1,112,270 |
| Total assets | $2,456,359 |
| Accounts payable and accrued expenses | $342,694 |
| 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 | $4,605,817 |
| Total liabilities | $4,948,511 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | -$2,492,152 |
| 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 | $2,456,359 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Life Prep has recieved totaling $6,020.
| Awarding Organization | Amount |
|---|---|
Think Small Saint Paul, MN PURPOSE: FINANCIAL SUPPORTS TO EARLY CHILDCARE PROVIDERS, INCLUDING SCHOLARSHIPS AND/OR GRANTS | $6,020 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Und Sports Facilities Inc Grand Forks, ND | $57,543,376 | $14,333,337 |
Lac Courte Oreilles Ojibwe School Hayward, WI | $14,755,136 | $9,679,407 |
St Paul City School St Paul, MN | $6,285,490 | $9,442,026 |
Iowa Association For The Education Of Young Children Inc Urbandale, IA | $815,186 | $7,200,490 |
East Dakota Educational Cooperative Sioux Falls, SD | $5,426,642 | $6,544,285 |
Wisconsin Center For Manufacturing And Productivity Inc Madison, WI | $1,793,408 | $5,861,220 |
Heritage Christian Schools Inc New Berlin, WI | $9,766,972 | $6,403,349 |
Minnesota Society Of Certified Public Accountants Bloomington, MN | $11,208,207 | $6,449,608 |
Wisconsin Eschool Network Inc Burlington, WI | $5,717,556 | $6,828,639 |
Grand View Christian School Association Inc Des Moines, IA | $3,097,175 | $6,383,728 |
Project Success-Students Undertaking Creative Control Minneapolis, MN | $9,553,286 | $4,323,696 |
Central Minnesota Christian School Prinsburg, MN | $18,739,916 | $5,096,698 |