East Preparatory Academy
- Assets
- $945.4k
- Revenue
- $2.5m
- Investments
- $0.0
- Employees
- 0
- Location
- Cleveland, OH
- Founding
- 06/2015
- Data as of
- 06/2021
- EIN
- 46-2285806
Organization Overview
East Preparatory Academy is located in Cleveland, OH. The organization was established in 2015. 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. East Preparatory Academy 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, East Preparatory Academy generated $2.5m in total revenue. This represents relatively stable growth, over the past 6 years the organization has increased revenue by an average of 4.1% each year. All expenses for the organization totaled $2.2m 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
EAST PREPARATORY ACADEMY, SERVING GRADES K-8, 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 STUDENT SUCCESS IN SCHOOL, AT FUTURE WORK, AND IN LIFE.
Describe the Organization's Program Activity:
Part 3 - Line 4a
EAST PREPARATORY ACADEMY SERVES STUDENTS IN GRADES K-8.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Brenda Goins Board Member | Trustee | 1 | $4,500 |
Velma Chandler Board Member | Trustee | 1 | $4,500 |
Lisa Gonzales Board Member | Trustee | 1 | $4,500 |
Rhonda Young Hurt Board President | Trustee | 2 | $4,125 |
Amanda Threat Board Member | Trustee | 1 | $3,500 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Forrester Education Llc Education Management | 6/29/21 | $1,288,550 |
Cdw Government Instructional Supplies | 6/29/21 | $129,735 |
Immaculate Conception Parish Rent | 6/29/21 | $103,498 |
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 | $2,499,176 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $2,499,176 |
| 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 | $2,499,176 |
| 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 | $968,896 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $242,751 |
| Payroll taxes | $0 |
| Fees for services: Management | $340,956 |
| Fees for services: Legal | $33,210 |
| Fees for services: Accounting | $51,399 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $56,814 |
| Advertising and promotion | $28,626 |
| Office expenses | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $135,710 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $9,874 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $31,082 |
| Insurance | $11,971 |
| All other expenses | $21,500 |
| Total functional expenses | $2,237,083 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $176,874 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $135,280 |
| Accounts receivable, net | $16,071 |
| 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 | $15,000 |
| Net Land, buildings, and equipment | $94,982 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $507,217 |
| Total assets | $945,424 |
| Accounts payable and accrued expenses | $411,118 |
| 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 | $1,970,155 |
| Total liabilities | $2,381,273 |
| Net assets without donor restrictions | -$1,435,849 |
| 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 | $945,424 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that East Preparatory Academy has recieved totaling $9,557.
| Awarding Organization | Amount |
|---|---|
Shoes And Clothes For Kids Inc Cleveland, OH PURPOSE: TO IMPROVE K-8 ATTENDANCE BY ELIMINATING LACK OF CLOTHING, SHOES & SCHOOL SUPPLIES AS BARRIERS. | $9,557 |
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 |