Friends Of Springfield Preparatory Charter School Inc
- Assets
- $16.6m
- Revenue
- $575.6k
- Investments
- $0.0
- Employees
- 0
- Location
- Springfield, MA
- Founding
- 01/2015
- Data as of
- 06/2022
- EIN
- 46-4391150
Organization Overview
Friends Of Springfield Preparatory Charter School Inc is located in Springfield, MA. The organization was established in 2015. According to its NTEE Classification (T11) the organization is classified as: Single Organization Support, under the broad grouping of Philanthropy, Voluntarism & Grantmaking Foundations and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Friends Of Springfield Preparatory Charter School 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 06/2022, Friends Of Springfield Preparatory Charter School Inc generated $575.6k in total revenue. All expenses for the organization totaled $382.7k during the year ending 06/2022.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
THE FRIENDS OF SPRINGFIELD PREPARATORY CHARTER SCHOOL ("THE FRIENDS OF SPCS") IS A CHARITABLE ORGANIZATION THAT RAISES FUNDS TO SUPPORT THE SUCCESS OF SPRINGFIELD PREPARATORY CHARTER SCHOOL ("SPRINGFIELD PREP").
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE FRIENDS OF SPRINGFIELD PREP (FRIENDS) IS INCORPORATED AS A NOT-FOR-PROFIT ORGANIZATION IN MASSACHUSETTS. IT WORKS CLOSELY WITH THE EXECUTIVE DIRECTOR OF SPRINGFIELD PREP TO COORDINATE THE SCHOOL'S SHORT-TERM AND LONG-TERM FUND DEVELOPMENT PLAN. ALL FUNDS RAISED THROUGH THE EFFORTS OF THE FRIENDS OF SPCS ARE USED TO DIRECTLY FURTHER THE MISSION OF SPRINGFIELD PREP. IN 2020, FRIENDS PURCHASED A PROPERTY TO RENOVATE AND BECOME THE LONG-TERM HOME FOR SPCS. IN 2020, SPRINGFIELD PREP REALTY, INC. WAS INCORPORATED AS AN ADDITIONAL SUPPORTING ORGANIZATION OF SPCS. FRIENDS TRANSFERRED THE PROPERTY AT 2071 ROOSEVELT AVENUE TO SPRINGFIELD PREP REALTY, INC. SPCS TOOK OCCUPANCY OF THE NEWLY RENOVATED PROPERTY IN AUGUST 2021, AND CONSTRUCTION IS NOW SUBSTANTIALLY COMPLETED.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
William Spirer President | OfficerTrustee | 5 | $0 |
Robin Olejarz Treasurer | OfficerTrustee | 1 | $0 |
Jennifer Gabriel Clerk | OfficerTrustee | 1 | $0 |
Robert Leonard Director | Trustee | 1 | $0 |
Doug Morin Director | Trustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Jones Whitsett Architects Architect | 6/29/21 | $575,552 |
Fontaine Bros Inc General Contractor | 6/29/21 | $488,546 |
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 | $57,591 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $57,591 |
| Total Program Service Revenue | $518,011 |
| Investment income | $31 |
| 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 | $575,633 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $38,000 |
| 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 | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $1,200 |
| Fees for services: Accounting | $4,953 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $324,586 |
| Travel | $1,265 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $0 |
| All other expenses | $0 |
| Total functional expenses | $382,708 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $887,336 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $6,000 |
| 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 | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $15,753,561 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $16,646,897 |
| Accounts payable and accrued expenses | $0 |
| 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 | $13,249,489 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $1,797,535 |
| Total liabilities | $15,047,024 |
| Net assets without donor restrictions | $1,591,873 |
| Net assets with donor restrictions | $8,000 |
| 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 | $16,646,897 |