Foundation Preparatory Inc
- Assets
- $1.2m
- Revenue
- $4.4m
- Investments
- $0.0
- Employees
- 55
- Location
- New Orleans, LA
- Founding
- 09/2014
- Data as of
- 06/2020
- EIN
- 46-4910477
Organization Overview
Foundation Preparatory Inc is located in New Orleans, LA. The organization was established in 2014. According to its NTEE Classification (B25) the organization is classified as: Secondary & High Schools, under the broad grouping of Education and related organizations. As of 06/2020, Foundation Preparatory Inc employed 55 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Foundation Preparatory 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 06/2020, Foundation Preparatory Inc generated $4.4m in total revenue. This organization has experienced exceptional growth, as over the past 6 years, it has increased revenue by an average of 30.8% each year . All expenses for the organization totaled $3.7m during the year ending 06/2020. While expenses have increased by 24.6% 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
2020
Describe the Organization's Mission:
Part 3 - Line 1
TO PROVIDE AN EXCELLENT, EQUITABLE EDUCATION TO ALL STUDENTS, REGARDLESS OF DEMOGRAPHIC PROFILE OR PREVIOUS ACADEMIC HISTORY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PUBLIC CHARTER SCHOOL
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Myrialis King School Leader | 40 | $63,215 | |
Brooke Wyatt President | OfficerTrustee | 1 | $0 |
Adrian Celestin Secretary | OfficerTrustee | 1 | $0 |
Scott Champagne Treasurer | OfficerTrustee | 1 | $0 |
Daniel Waldman Director | Trustee | 1 | $0 |
Peter Jones Director | Trustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
La Department Of Education Lea And Admin Fees | 6/29/20 | $172,518 |
Revolution Foods Food Service | 6/29/20 | $186,341 |
Wr Transport Llc Transportation | 6/29/20 | $257,575 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,603,977 |
| 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 | $4,373,116 |
| Statement of Expenses | |
|---|---|
| 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. | $63,215 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $1,614,805 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $233,680 |
| Payroll taxes | $146,662 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $406,774 |
| Advertising and promotion | $0 |
| Office expenses | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $1,228 |
| 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 | $2,026 |
| Insurance | $48,502 |
| All other expenses | $0 |
| Total functional expenses | $3,720,650 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $652,325 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $512,437 |
| 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 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $1,164,762 |
| Accounts payable and accrued expenses | $248,775 |
| 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 | $0 |
| Total liabilities | $248,775 |
| Net assets without donor restrictions | $0 |
| 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 |
| Total liabilities and net assets/fund balances | $915,987 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Foundation Preparatory Inc has recieved totaling $125,000.
| Awarding Organization | Amount |
|---|---|
New Schools For New Orleans Inc New Orleans, LA PURPOSE: $25,000 INSTRUCTIONAL QUALITY INITIATIVE; $100,000 CHARTER CREATION GRANT | $125,000 |
Peer Organizations
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|---|---|---|
Thaden School Bentonville, AR | $79,028,915 | $15,891,102 |
Academics Plus Charter Schools Inc Maumelle, AR | $7,409,476 | $15,799,644 |
Marine Military Academy Inc Harlingen, TX | $47,303,872 | $14,319,783 |
South Texas Educational Technologies Inc Weslaco, TX | $17,267,724 | $15,758,985 |
Akibayavneh Academy Dallas, TX | $13,685,007 | $15,057,848 |
Student Alternatives Program Incorporated San Antonio, TX | $19,593,024 | $15,118,019 |
Braination Inc San Antonio, TX | $31,349,196 | $17,109,722 |
The Academy Fayetteville, AR | $10,084,024 | $11,745,768 |
Winfree Academy Charter School Carrollton, TX | $12,943,663 | $11,352,122 |
Tcs Education - Texas Inc Richardson, TX | $4,390,066 | $6,478,064 |
Concordia Lutheran High School Of North Harris County Tomball, TX | $17,835,932 | $9,590,000 |
New Orleans College Preparatoryacademies New Orleans, LA | $5,400,382 | $9,072,309 |