Leadership Preparatory Inc
- Assets
- $8.1m
- Revenue
- $4.0m
- Investments
- $0.0
- Employees
- 49
- Location
- Memphis, TN
- Founding
- 09/2014
- Data as of
- 06/2021
- EIN
- 46-4280290
Organization Overview
Leadership Preparatory Inc, operating under the name Leadership Preparatory Charter Schoo, is located in Memphis, TN. 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 06/2021, Leadership Preparatory Charter Schoo employed 49 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Leadership Preparatory Charter Schoo 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, Leadership Preparatory Charter Schoo generated $4.0m in total revenue. This organization has experienced exceptional growth, as over the past 6 years, it has increased revenue by an average of 28.2% each year . All expenses for the organization totaled $3.4m during the year ending 06/2021. While expenses have increased by 23.2% 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
LEADERSHIP PREPARATORY CHARTER SCHOOL IS AN ACADEMICALLY CHALLENGING, DISCIPLINED, SUPPORTIVE, AND JOYFUL SCHOOL. OUR MISSION IS TO PROVIDE K-8 STUDENTS WITH THE ACADEMIC AND CHARACTER FOUNDATION NECESSARY TO EXCEL IN HIGH SCHOOL, GRADUATE FROM COLLEGE, AND LEAD IN THEIR COMMUNITIES. AUTHORIZED BY THE SHELBY COUNTY BOARD OF EDUCATION, LEADERSHIP PREP OPENED ITS DOORS TO AN INAUGURAL CLASS OF 60 KINDERGARTEN STUDENTS AND 60 FIRST GRADE STUDENTS ON AUGUST 10, 2015. EACH YEAR, WE WILL GROW BY ONE GRADE UNTIL WE REACH OUR FULL CAPACITY AS A K-8 ELEMENTARY AND MIDDLE SCHOOL IN 2024.LEADERSHIP PREP IS COMMITTED TO PROVIDING A QUALITY EDUCATIONAL OPTION IN SOUTHEAST MEMPHIS AND ELIMINATING THE POWER OF DEMOGRAPHIC BIAS ON STUDENT ACHIEVEMENT. LEADERSHIP PREP WILL PROVIDE A RIGOROUS AND SUPPORTIVE EDUCATIONAL OPTION FOR ELEMENTARY AND MIDDLE SCHOOL STUDENTS. WE WILL ACHIEVE OUR MISSION BY ENSURING EVERY STUDENT RECEIVES THE ACADEMIC SKILLS, KNOWLEDGE, AND STRONG CHARACTER FOUNDATION NECESSARY
Describe the Organization's Program Activity:
Part 3 - Line 4a
LEADERSHIP PREPARATORY CHARTER SCHOOL (THE SCHOOL) HAS CONTINUED TO PROVIDE A HIGH-QUALITY EDUCATIONAL OPTION IN SOUTHEAST MEMPHIS, COMBATING THE POWER OF DEMOGRAPHIC BIAS ON STUDENT ACHIEVEMENT. THE SCHOOL PROVIDES RIGOROUS AND SUPPORTIVE EDUCATIONAL SERVICES FOR ELEMENTARY AND MIDDLE SCHOOL STUDENTS AND PRIORITIZES PARENT, COMMUNITY, AND STAKEHOLDER ENGAGEMENT. AUTHORIZED BY THE SHELBY COUNTY BOARD OF EDUCATION, THE SCHOOL OPENED ITS DOORS TO AN INAUGURAL CLASS OF 60 KINDERGARTEN STUDENTS AND 60 FIRST GRADE STUDENTS ON AUGUST 10, 2015. EACH YEAR, WE WILL GROW BY ONE GRADE UNTIL WE REACH OUR FULL CAPACITY AS A K-8 ELEMENTARY AND MIDDLE SCHOOL IN 2024. WE WILL ACHIEVE OUR MISSION BY ENSURING EVERY STUDENT RECEIVES THE ACADEMIC SKILLS, KNOWLEDGE, AND STRONG CHARACTER FOUNDATION NECESSARY TO SET THEM ON THE PATH TO COLLEGE.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Valissia Allen Executive Director/head Of | OfficerTrustee | 40 | $83,441 |
Ruby Powell-Dennis Chairman | OfficerTrustee | 2 | $0 |
Toria Brown Secretary | OfficerTrustee | 2 | $0 |
Nancy Russell Treasurer | OfficerTrustee | 2 | $0 |
Erin Marbut Board Member | Trustee | 2 | $0 |
Colby Mitchell Board Member | Trustee | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $581,224 |
| All other contributions, gifts, grants, and similar amounts not included above | $157,566 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $738,790 |
| Total Program Service Revenue | $3,118,184 |
| Investment income | $14,617 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $108,472 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $10,294 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $3,993,277 |
| 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. | $89,094 |
| Compensation of current officers, directors, key employees. | $17,819 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $1,812,112 |
| Pension plan accruals and contributions | $24,616 |
| Other employee benefits | $241,724 |
| Payroll taxes | $136,603 |
| Fees for services: Management | $190,500 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $75,300 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $103,737 |
| Advertising and promotion | $0 |
| Office expenses | $84,200 |
| Information technology | $46,273 |
| Royalties | $0 |
| Occupancy | $218,387 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $103,426 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $128,994 |
| Insurance | $0 |
| All other expenses | $0 |
| Total functional expenses | $3,368,201 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $2,534,766 |
| Savings and temporary cash investments | $86,946 |
| Pledges and grants receivable | $65,588 |
| 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 | $94,805 |
| Net Land, buildings, and equipment | $4,959,042 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $315,043 |
| Total assets | $8,056,190 |
| Accounts payable and accrued expenses | $828,459 |
| 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 | $4,318,099 |
| Unsecured mortgages and notes payable | $373,840 |
| Other liabilities | $85,821 |
| Total liabilities | $5,606,219 |
| Net assets without donor restrictions | $2,248,874 |
| Net assets with donor restrictions | $201,097 |
| 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 | $8,056,190 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Leadership Preparatory Inc has recieved totaling $17,750.
| Awarding Organization | Amount |
|---|---|
Community Foundation Of Greater Memphis Inc Memphis, TN PURPOSE: GENERAL OPERATIONAL SUPPORT | $17,750 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Lighthouse Academies Of Arkansas Inc North Little Rock, AR | $582,799 | $18,301,867 |
Pine Lake Preparatory Inc Mooresville, NC | $43,880,592 | $18,139,159 |
Ewing Marion Kauffman School Inc Kansas City, MO | $12,328,924 | $22,686,630 |
Memphis Business Academy Memphis, TN | $29,884,603 | $21,343,740 |
Uwharrie Green School Inc Asheboro, NC | $37,750,042 | $15,359,750 |
Bradford Preparatory School Charlotte, NC | $43,531,972 | $16,692,910 |
Triangle Charter Education Association Inc Cary, NC | $23,775,884 | $15,148,719 |
Crossroads Charter Schools Kansas City, MO | $14,061,355 | $16,288,564 |
Invest Collegiate Imagine Inc Asheville, NC | $38,770,080 | $14,359,175 |
Henderson Collegiate Henderson, NC | $34,215,458 | $16,220,503 |
Coastal Plains Education Center Inc Metter, GA | $21,944,449 | $17,839,473 |
Mountain Island Charter School Inc Mount Holly, NC | $10,307,817 | $15,645,892 |