Cambridge Prep Academy Incorporated
- Assets
- $545.2k
- Revenue
- $1.1m
- Investments
- $0.0
- Employees
- 0
- Location
- Lake City, FL
- Founding
- 12/2013
- Data as of
- 06/2022
- EIN
- 45-4360430
Organization Overview
Cambridge Prep Academy Incorporated is located in Lake City, FL. The organization was established in 2013. According to its NTEE Classification (B25) the organization is classified as: Secondary & High Schools, under the broad grouping of Education and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Cambridge Prep Academy Incorporated 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 06/2022, Cambridge Prep Academy Incorporated generated $1.1m in total revenue. This organization has experienced exceptional growth, as over the past 6 years, it has increased revenue by an average of 25.2% each year . All expenses for the organization totaled $1.1m during the year ending 06/2022. While expenses have increased by 25.8% 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
COMBINING FLORIDA VIRTUAL'S AWARD WINNING CURRICULUM WITH OUR EXCEPTIONAL TEACHERS, OUR AMAZING SUPPORT TEAM, AND INDIVIDUALIZED LEARNING APPROACH FOR EVERY STUDENT. CAMBRIDGE PUTS IN MOTION A COMPLETE PROGRAM TAILORED TO HELPING CHILDREN LEARN AND EXCEL.
Describe the Organization's Program Activity:
Part 3 - Line 4a
WE PROVIDED ACADEMIC PROGRAMS FOR HIGHER LEARNING, AFTER SCHOOL TUTORING, AND ACTIVITIES FOR STUDENT GOVERNMENT
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Linda Vandervoren Director | Trustee | 10 | $0 |
Courtney Johns Director | Trustee | 40 | $0 |
Jackie Britt President | Officer | 40 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $0 |
| Total Program Service Revenue | $1,109,444 |
| 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 | $1,128,450 |
| 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 | $580,596 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $148,000 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $2,500 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $10,416 |
| Office expenses | $7,177 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $36,808 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $11,988 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $11,896 |
| All other expenses | $39,313 |
| Total functional expenses | $1,108,729 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $19,122 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $21,397 |
| 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 | $504,657 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $545,176 |
| 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 | $435,914 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $45,339 |
| Total liabilities | $481,253 |
| Net assets without donor restrictions | $63,923 |
| 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 | $545,176 |