Ace Preparatory Inc
- Assets
- $4.1m
- Revenue
- $2.6m
- Investments
- $0.0
- Employees
- 32
- Location
- Indianapolis, IN
- Founding
- 04/2015
- Data as of
- 06/2022
- EIN
- 47-3128337
Organization Overview
Ace Preparatory Inc is located in Indianapolis, IN. The organization was established in 2015. According to its NTEE Classification (B24) the organization is classified as: Primary & Elementary Schools, under the broad grouping of Education and related organizations. As of 06/2022, Ace Preparatory Inc employed 32 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Ace 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 06/2022, Ace Preparatory Inc generated $2.6m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 36.7% each year . All expenses for the organization totaled $2.2m during the year ending 06/2022. 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
THROUGH RIGOROUS ACADEMICS, POSITIVE CHARACTER DEVELOPMENT, AND EXCELLENCE IN EVERYTHING WE DO, ACE PREPARATORY ACADEMY CHARTER SCHOOL EDUCATES KINDERGARTEN THROUGH GRADE 5 STUDENTS FOR SCHOOL SUCCESS AND LIVES OF OPPORTUNITY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
ACE PREP WAS AWARDED A $900,000.00 QUALITY COUNTS GRANT THROUGH THE INDIANA DEPARTMENT OF EDUCATION'S CHARTER SCHOOL PROGRAM. THIS GRANT ALLOWED THE SCHOOL TO HIRE ADDITIONAL INSTRUCTIONAL AND SUPPORT STAFF TO INTENTIONALLY ADDRESS THE INDIVIDUAL LEARNING LOSS AND SOCIAL EMOTIONAL NEEDS OF OUR STUDENT POPULATION BECAUSE OF THE COVID-19 PANDEMIC. ADDITIONALLY, ACE PREP INVESTED IN A DATAMANAGEMENT PLATFORM TO ANALYZE AND NORM STUDENT WORK AROUND A WEEKLY CADENCE OF TARGETED DIALOGUE TO ENSURE ACADEMIC NEEDS AND PROFICIENCY MEASURES WERE MET.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Anna Shults Founder & Head Of School | Officer | 60 | $88,601 |
Kerriesha Adams Founding Dir. Of Operation | Officer | 40 | $68,101 |
Tatiana Day Vice Chair | OfficerTrustee | 0.7 | $0 |
Madolyn Augustus Secratary | OfficerTrustee | 0.7 | $0 |
Mitchell Gauger Chair | OfficerTrustee | 0.7 | $0 |
Latoya Ashe' Treasurer | OfficerTrustee | 0.7 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $16,518 |
| Related organizations | $0 |
| Government grants | $2,430,949 |
| All other contributions, gifts, grants, and similar amounts not included above | $17,640 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $2,465,107 |
| Total Program Service Revenue | $0 |
| Investment income | $85 |
| 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 | $2,553,518 |
| 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. | $191,367 |
| Compensation of current officers, directors, key employees. | $28,699 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $956,722 |
| Pension plan accruals and contributions | $14,852 |
| Other employee benefits | $30,501 |
| Payroll taxes | $88,125 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $4,286 |
| Fees for services: Accounting | $53,382 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $142,957 |
| Advertising and promotion | $8,172 |
| Office expenses | $84,138 |
| Information technology | $24,853 |
| Royalties | $0 |
| Occupancy | $309,757 |
| Travel | $6,465 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $13,777 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $53,336 |
| Insurance | $39,454 |
| All other expenses | $0 |
| Total functional expenses | $2,173,508 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $379,895 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $244,058 |
| 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 | $16,752 |
| Net Land, buildings, and equipment | $107,281 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $3,310,405 |
| Total assets | $4,058,391 |
| Accounts payable and accrued expenses | $83,351 |
| 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 | $155,800 |
| Other liabilities | $3,347,001 |
| Total liabilities | $3,586,152 |
| Net assets without donor restrictions | $472,239 |
| 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 | $4,058,391 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Ace Preparatory Inc has recieved totaling $128.
| Awarding Organization | Amount |
|---|---|
Amazonsmile Foundation Seattle, WA PURPOSE: GENERAL SUPPORT | $128 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Bernard Zell Anshe Emet Day School Chicago, IL | $69,026,609 | $20,320,544 |
Heritage Christian Schools Inc Indianapolis, IN | $19,759,630 | $19,173,955 |
Academy Of Basic Education Inc Brookfield, WI | $40,498,539 | $16,384,035 |
Summit Christian Academy Lees Summit, MO | $26,556,183 | $15,642,141 |
Orchard School Foundation Inc Indianapolis, IN | $60,553,415 | $15,394,463 |
Oaks Academy Inc Indianapolis, IN | $7,476,421 | $17,454,996 |
Near North Montessori School Chicago, IL | $38,573,944 | $16,517,378 |
Madison Country Day School Inc Waunakee, WI | $14,581,268 | $10,698,482 |
Bsds Inc Kansas City, MO | $14,798,906 | $10,020,061 |
Community School Association Saint Louis, MO | $35,306,826 | $7,869,470 |
Morgan Park Academy Chicago, IL | $7,353,923 | $9,629,614 |
Elgin Academy Elgin, IL | $16,000,808 | $8,213,882 |