Colleton Preparatory Academy Inc
- Assets
- $3.4m
- Revenue
- $2.8m
- Investments
- $0.0
- Employees
- 113
- Location
- Walterboro, SC
- Founding
- 01/1990
- Data as of
- 06/2022
- EIN
- 57-0886152
Organization Overview
Colleton Preparatory Academy Inc is located in Walterboro, SC. The organization was established in 1990. 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, Colleton Preparatory Academy Inc employed 113 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Colleton Preparatory Academy 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, Colleton Preparatory Academy Inc generated $2.8m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 10.0% each year . All expenses for the organization totaled $2.7m during the year ending 06/2022. While expenses have increased by 9.0% per year over the past 7 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
THE ACADEMY ENABLES STUDENTS IN GRADES K4-12(0-3 YRS OLD HAVE ALSO BEEN ADDED) TO OBTAIN A QUALITY EDUCATION. STUDENTS BENEFIT FROM SMALL CLASS SIZES AND HAVE THE ABILITY TO PARTICIPATE IN A VARIETY OF CLUBS AND ACTIVITIES. THERE WERE 487 STUDENTS THIS YEAR.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE ACADEMY ENABLED 487 STUDENTS IN GRADES K4-12 (0-3 YEARS OLD HAVE BEEN ADDED) TO OBTAIN A QUALITY EDUCATION. STUDENTS BENEFIT FROM SMALL CLASS SIZE AND HAVE THE ABILITY TO PARTICIPATE IN A VARIETY OF CLUBS AND ACTIVITES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Robin Crosby Director | Trustee | 2 | $0 |
Charles A Spears Director | Trustee | 2 | $0 |
Roger Odum Director | Trustee | 2 | $0 |
Chad Araneo Director | Trustee | 2 | $0 |
Marie Howell Director | Trustee | 2 | $0 |
Lori Bell Director | Trustee | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $10,000 |
| Related organizations | $0 |
| Government grants | $118,403 |
| All other contributions, gifts, grants, and similar amounts not included above | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $128,403 |
| Total Program Service Revenue | $2,685,420 |
| 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 | $2,813,823 |
| 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. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $1,751,231 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $143,157 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $3,900 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $482 |
| Advertising and promotion | $1,151 |
| Office expenses | $8,368 |
| Information technology | $67,113 |
| Royalties | $0 |
| Occupancy | $406,966 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $24,230 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $19,740 |
| Insurance | $49,333 |
| All other expenses | -$1,791 |
| Total functional expenses | $2,670,701 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $759,146 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $2,104,023 |
| 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 | $71,227 |
| Net Land, buildings, and equipment | $428,724 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $3,363,120 |
| Accounts payable and accrued expenses | $7,282 |
| Grants payable | $0 |
| Deferred revenue | $2,638,060 |
| 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 | $490,229 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $371,031 |
| Total liabilities | $3,506,602 |
| 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 |
| Retained earnings, endowment, accumulated income, or other funds | -$143,482 |
| Total liabilities and net assets/fund balances | $3,363,120 |