Scholarship Prep
- Assets
- $27.3m
- Revenue
- $19.3m
- Investments
- $0.0
- Employees
- 203
- Location
- Santa Ana, CA
- Founding
- 12/2015
- Data as of
- 06/2021
- EIN
- 47-3943780
Organization Overview
Scholarship Prep is located in Santa Ana, CA. 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 06/2021, Scholarship Prep employed 203 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Scholarship Prep 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, Scholarship Prep generated $19.3m in total revenue. This organization has experienced exceptional growth, as over the past 5 years, it has increased revenue by an average of 35.2% each year . All expenses for the organization totaled $14.6m during the year ending 06/2021. While expenses have increased by 33.6% per year over the past 5 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
TO PROVIDE A UNIVERSITY-INSPIRED PATHWAY OF SUCCESS FOR ALL STUDENTS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
OPERATING THREE PUBLIC CHARTER SCHOOLS SERVING ABOUT 1,072 STUDENTS FROM KINDERGARTEN THROUGH 8TH GRADE FOR 179 INSTRUCTIONAL DAYS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Senator Gloria Romero Co-Founder And Executive D | Officer | 40 | $234,375 |
Jason Watts Co-Founder And Chief Opera | Officer | 40 | $203,125 |
Andrew Crowe Chief Academic Officer | 40 | $182,292 | |
Valerie Douglass Principal | 40 | $119,792 | |
Marisa A Quintanar Chief Growth Officer | 40 | $111,721 | |
Harris Luu Principal | 40 | $109,210 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Procopio Cory Hargreaves & Savitch Llc Legal Services | 6/29/21 | $169,302 |
Claye T Cantwell Food Services | 6/29/21 | $169,267 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $19,154,494 |
| All other contributions, gifts, grants, and similar amounts not included above | $48,685 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $19,203,179 |
| Total Program Service Revenue | $0 |
| Investment income | $12,628 |
| 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 | $19,294,773 |
| 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. | $485,871 |
| Compensation of current officers, directors, key employees. | $97,174 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $6,942,071 |
| Pension plan accruals and contributions | $1,118,029 |
| Other employee benefits | $746,405 |
| Payroll taxes | $217,436 |
| Fees for services: Management | $287,843 |
| Fees for services: Legal | $57,305 |
| Fees for services: Accounting | $32,005 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $766,962 |
| Advertising and promotion | $21,331 |
| Office expenses | $726,166 |
| Information technology | $109,387 |
| Royalties | $0 |
| Occupancy | $1,609,092 |
| Travel | $8,517 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $271,362 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $207,378 |
| Insurance | $81,938 |
| All other expenses | $0 |
| Total functional expenses | $14,618,187 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $2,130,745 |
| Savings and temporary cash investments | $13,868,738 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $5,271,400 |
| 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 | $624,275 |
| Net Land, buildings, and equipment | $5,358,929 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $27,254,087 |
| Accounts payable and accrued expenses | $972,259 |
| Grants payable | $0 |
| Deferred revenue | $825,563 |
| Tax-exempt bond liabilities | $16,967,906 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $575,000 |
| Unsecured mortgages and notes payable | $320,832 |
| Other liabilities | $773,278 |
| Total liabilities | $20,434,838 |
| Net assets without donor restrictions | $6,777,077 |
| Net assets with donor restrictions | $42,172 |
| 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 | $27,254,087 |
Grants Recieved
Over the last fiscal year, we have identified 3 grants that Scholarship Prep has recieved totaling $11,519.
| Awarding Organization | Amount |
|---|---|
American Opportunity Foundation Huntington Beach, CA PURPOSE: TO PROVIDE A UNIVERSITY-INSPIRED PATHWAY OF SUCCESS WHILE CLOSING THE ACHIEVEMENT GAP FOR ALL STUDENTS. | $6,180 |
Girard Foundation San Diego, CA PURPOSE: GENERAL | $5,000 |
Amazonsmile Foundation Seattle, WA PURPOSE: GENERAL SUPPORT | $339 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Creative Center Of Los Altos Los Altos, CA | $170,822,611 | $50,231,203 |
Oakwood School North Hollywood, CA | $131,214,925 | $40,512,387 |
Wildwood School Inc Los Angeles, CA | $86,448,080 | $38,177,997 |
Classical Academy Incorporated Escondido, CA | $75,670,985 | $34,177,017 |
Paragon Management Surprise, AZ | $64,904,410 | $28,676,995 |
Harbor Day Endowment Corporation Corona del Mar, CA | $29,496,561 | $8,033,762 |
Center For Early Education West Hollywood, CA | $163,132,439 | $27,283,122 |
Santa Fe Christian Schools Solana Beach, CA | $72,145,924 | $27,955,484 |
Phoenix Country Day School Paradise Valley, AZ | $77,907,724 | $28,726,427 |
Tarbut Vtorah Community Day School Irvine, CA | $104,560,863 | $24,620,400 |
Westside Neighborhood School Los Angeles, CA | $23,646,249 | $23,017,600 |
Town School For Boys San Francisco, CA | $94,398,193 | $22,080,958 |