Bridges Preparatory School
- Assets
- $41.4m
- Revenue
- $15.2m
- Investments
- $0.0
- Employees
- 192
- Location
- Beaufort, SC
- Founding
- 08/2014
- Data as of
- 06/2023
- EIN
- 46-0847332
Organization Overview
Bridges Preparatory School is located in Beaufort, SC. 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. As of 06/2023, Bridges Preparatory School employed 192 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Bridges Preparatory 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 06/2023, Bridges Preparatory School generated $15.2m in total revenue. This organization has experienced exceptional growth, as over the past 8 years, it has increased revenue by an average of 17.2% each year . All expenses for the organization totaled $15.2m during the year ending 06/2023. While expenses have increased by 19.0% 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
THE BRIDGES PREPARATORY SCHOOL MISSION IS TO PROVIDE STUDENTS EQUAL ACCESS TO A HIGH QUALITY K-12 WHOLE CHILD EDUCATION THAT MAXIMIZES ACADEMIC EXCELLENCE AND STRENGTH OF CHARACTER IN A STUDENT-CENTERED LEARNING ENVIRONMENT CREATED BY A FACULTY OF LIFELONG LEARNERS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
IN FY 2023, BRIDGES PREPARATORY SCHOOL CREATED A STUDENT-CENTERED LEARNING ENVIRONMENT, DEVELOPED TO MAXIMIZE ACADEMIC EXCELLENCE AND STRENGTH OF CHARACTER FOR 1,264 STUDENTS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Tom Angelo Board Chair | OfficerTrustee | 5 | $0 |
David Gault Member | Trustee | 5 | $0 |
Bryan Merrick Vice Chair | OfficerTrustee | 5 | $0 |
Gary Mcculloch Head Of School | Trustee | 40 | $147,222 |
Michelle Fraser Treasurer | Trustee | 5 | $0 |
Beth Taggart Member | Trustee | 5 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Chunchich Recration And Design Playground Equiptment Construction New F | 6/29/22 | $473,233 |
Mb Kahn Construction Co Inc Contractor For New Construction Elementa | 6/29/22 | $2,469,462 |
A3 Communications Inc Technology / Phones For New Construction | 6/29/22 | $365,047 |
Abr Digital Office Solutions Copiers And Printers Throughout The Faci | 6/29/22 | $124,416 |
Hakim's Consulting Llc Resident Inspector For Construciton Requ | 6/29/22 | $197,715 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $14,348,964 |
| All other contributions, gifts, grants, and similar amounts not included above | $74,899 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $14,423,863 |
| Total Program Service Revenue | $463,802 |
| Investment income | $131,039 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $34,887 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $53,863 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $15,162,384 |
| 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. | $165,597 |
| Compensation of current officers, directors, key employees. | $165,597 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $8,140,745 |
| Pension plan accruals and contributions | $223,189 |
| Other employee benefits | $981,281 |
| Payroll taxes | $676,172 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $1,925 |
| Fees for services: Accounting | $10,000 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $6,931 |
| Office expenses | $0 |
| Information technology | $45,077 |
| Royalties | $0 |
| Occupancy | $1,075,049 |
| Travel | $17,664 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $962,203 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $841,827 |
| Insurance | $36,836 |
| All other expenses | $0 |
| Total functional expenses | $15,158,571 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $7,109,233 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $515,466 |
| 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 | $130,325 |
| Net Land, buildings, and equipment | $33,669,091 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $41,424,115 |
| Accounts payable and accrued expenses | $767,003 |
| Grants payable | $103 |
| Deferred revenue | $2,564 |
| 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 | $33,149,455 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $21,899 |
| Total liabilities | $33,941,024 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $7,483,091 |
| 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 | $41,424,115 |