Lake Erie College Prep School
- Assets
- $1.0m
- Revenue
- $3.6m
- Investments
- $0.0
- Employees
- 0
- Location
- Cleveland, OH
- Founding
- 09/2014
- Data as of
- 06/2021
- EIN
- 45-4500966
Organization Overview
Lake Erie College Prep School is located in Cleveland, OH. The organization was established in 2014. According to its NTEE Classification (B29) the organization is classified as: Charter 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. Lake Erie College Prep School 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, Lake Erie College Prep School generated $3.6m in total revenue. This represents relatively stable growth, over the past 6 years the organization has increased revenue by an average of 2.3% each year. All expenses for the organization totaled $3.2m during the year ending 06/2021. 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
OUR MISSION IS TO PREPARE STUDENTS FOR A COLLEGE PREPARATORY HIGH SCHOOL THAT WILL ENSURE SUCCESS AND GRADUATION FROM A FOUR YEAR COLLEGE.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE VISION IS TO CREATE A CULTURE OF HIGH EXPECTATIONS FOR BEHAVIOR AND ACADEMICS THROUGH A RIGOROUS RESEARCH-BASED CURRICULA AND A FOCUS ON ACHIEVEMENT. IT IS THE GOAL THAT STUDENTS WILL GRADUATE FROM THE EIGHTH GRADE, ATTEND A COLLEGE PREPARATORY HIGH SCHOOL AND ULTIMATELY GAIN ACCEPTANCE TO AND GRADUATE FROM A FOUR YEAR COLLEGE. IT IS OUR EXPECTATION THAT 100% OF GRADUATES WILL POSITIVELY AFFECT CHANGE IN THEIR LOCAL COMMUNITIES WHILE MAKING A CONTRIBUTION TO OUR GLOBAL SOCIETY.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Brian Kenderes Board Member | Trustee | 1 | $1,200 |
Audra Jones Board Member | Trustee | 1 | $1,200 |
Robert Parina Board Member | Trustee | 1 | $1,200 |
Kevin Ray Board Member | Trustee | 1 | $1,200 |
Courtney Perry Board Member | Trustee | 1 | $1,100 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Aep Lake Erie Charter Rental / Occupancy | 6/29/21 | $299,851 |
Arlenes Cuisine Food Services | 6/29/21 | $126,712 |
Accel Schools Llc Management | 6/29/21 | $801,619 |
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 | $3,571,690 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $3,571,690 |
| 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 | $3,571,690 |
| 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 | $1,142,657 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $179,432 |
| Payroll taxes | $0 |
| Fees for services: Management | $663,273 |
| Fees for services: Legal | $22,311 |
| Fees for services: Accounting | $30,108 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $276,800 |
| Advertising and promotion | $44,234 |
| Office expenses | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $479,570 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $46,540 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $38,387 |
| Insurance | $9,067 |
| All other expenses | $46,873 |
| Total functional expenses | $3,224,041 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $110,162 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $267,887 |
| 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 | $73,008 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $579,586 |
| Total assets | $1,030,643 |
| Accounts payable and accrued expenses | $1,628,853 |
| 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 | $440,000 |
| Other liabilities | $2,643,976 |
| Total liabilities | $4,712,829 |
| Net assets without donor restrictions | -$3,682,186 |
| 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 | $1,030,643 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Lake Erie College Prep School has recieved totaling $6,845.
| Awarding Organization | Amount |
|---|---|
Ohio Council Of Community Schools Toledo, OH PURPOSE: TECHNOLOGY FUNDING | $6,845 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Belmont Charter School Philadelphia, PA | $6,922,339 | $21,008,354 |
Propel Charter School Sunrise Pittsburgh, PA | $9,914,076 | $19,454,226 |
West Oak Lane Charter School Philadelphia, PA | $9,484,536 | $17,633,515 |
Mast Community Charter School Iii Philadelphia, PA | $53,124,349 | $21,172,350 |
Mast Community Charter School Ii Philadelphia, PA | $15,675,168 | $22,231,273 |
Mastery Charter School - Harrity Elementary Philadelphia, PA | $9,434,703 | $16,430,234 |
Wissahickon Charter School Philadelphia, PA | $12,512,836 | $17,919,129 |
York Academy Regional Charter School York, PA | $5,602,450 | $14,555,024 |
Career Academy Of South Bend Inc South Bend, IN | $28,812,268 | $15,770,291 |
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 |
Mastery Charter School - Smedley Elementary Philadelphia, PA | $9,574,548 | $16,285,850 |