Main Street Preparatory Academy Inc
- Assets
- $975.0k
- Revenue
- $1.5m
- Investments
- $0.0
- Employees
- 0
- Location
- Akron, OH
- Founding
- 08/2015
- Data as of
- 06/2023
- EIN
- 46-2087498
Organization Overview
Main Street Preparatory Academy Inc is located in Akron, OH. The organization was established in 2015. According to its NTEE Classification (B20) the organization is classified as: Elementary & Secondary 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. Main Street Preparatory Academy 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 06/2023, Main Street Preparatory Academy Inc generated $1.5m in total revenue. The organization has seen a slow decline revenue. Over the past 8 years, revenues have fallen by an average of (1.7%) each year. All expenses for the organization totaled $1.5m during the year ending 06/2023. As we would expect to see with falling revenues, expenses have declined by (3.3%) per year over the past 8 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
MAIN STREET PREPARATORY ACADEMY IS DEDICATED TO IMPROVING THE LIVES OF ITS STUDENTS BY PROVIDING AUTHENTIC LEARNING EXPERIENCES IN A COLLABORATIVE, NURTURING ENVIRONMENT THAT WILL BUILD A FOUNDATION FOR STUDENTS SUCCESS IN SCHOOL, AT FUTURE WORK, AND IN LIFE. TO ACHIEVE THE MISSION, OUR SCHOOL WILL INTEGRATE CURRENT LEARNING TECHNOLOGIES INTO THE CLASSROOM, OFFER AUTHENTIC LEARNING EXPERIENCES THAT ARE RESPECTFUL OF HOW CHILDREN LEARN BEST, AND OFFER A SCHEDULE AND SUPPORT ACTIVITIES THAT ENABLE EACH STUDENT TO ACHIEVE TO HIS OR HER POTENTIAL. WE WANT OUR STUDENTS TO LEAVE THE SCHOOL WITH THE SKILLS AND ABILITIES NECESSARY TO ACHIEVE ACADEMIC EXCELLENCE, PERSONAL GROWTH, AND SUCCESS AS LIFELONG LEARNERS. THIS MISSION REQUIRES THE SUPPORT OF THE FACULTY, STAFF, FAMILIES, AND COMMUNITY IN ORDER TO ENCOURAGE AND EMPOWER STUDENTS TO BE RESPONSIBLE AND VALUED CITIZENS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
SCHOOL WILL INTEGRATE CURRENT LEARNING TECHNOLOGIES INTO THE CLASSROOM, OFFER AUTHENTIC LEARNING EXPERIENCES THAT ARE RESPECTFUL OF HOW CHILDREN LEARN BEST, AND OFFER A SCHEDULE AND SUPPORT ACTIVITIES THAT ENABLE EACH STUDENT TO ACHIEVE TO HIS OR HER POTENTIAL. WE WANT OUR STUDENTS TO LEAVE THE SCHOOL WITH THE SKILLS AND ABILITIES NECESSARY TO ACHIEVE ACADEMIC EXCELLENCE, PERSONAL GROWTH, AND SUCCESS AS LIFELONG LEARNERS. THIS MISSION REQUIRES THE SUPPORT OF THE FACULTY, STAFF, FAMILIES, AND COMMUNITY IN ORDER TO ENCOURAGE AND EMPOWER STUDENTS TO BE RESPONSIBLE AND VALUED CITIZENS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Jim George Board President | Trustee | 2 | $875 |
Don Cureton Board Treasurer | Trustee | 1 | $875 |
Justin Pardi Board Secretary | Trustee | 1 | $875 |
Dave Montesano Board Member | Trustee | 1 | $875 |
Dawn Gummo Board Member | Trustee | 1 | $875 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Education Empowerment Group Management Services | 6/29/23 | $604,999 |
St John The Baptist Parish Facility Lease | 6/29/23 | $165,831 |
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 | $1,477,562 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,477,562 |
| 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 | $1,477,562 |
| 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 | $499,358 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $102,324 |
| Payroll taxes | $0 |
| Fees for services: Management | $120,377 |
| Fees for services: Legal | $64,431 |
| Fees for services: Accounting | $43,770 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $5,464 |
| Advertising and promotion | $16,445 |
| Office expenses | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $93,855 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $43,610 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $168,516 |
| Insurance | $0 |
| All other expenses | $0 |
| Total functional expenses | $1,509,401 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $78,680 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $6,705 |
| Accounts receivable, net | $41,465 |
| 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 | $290,886 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $557,295 |
| Total assets | $975,031 |
| Accounts payable and accrued expenses | $239,331 |
| 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 | $68,300 |
| Other liabilities | $1,768,412 |
| Total liabilities | $2,076,043 |
| Net assets without donor restrictions | -$1,101,012 |
| 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 | $975,031 |