Academy Prep Foundation Inc
- Assets
- $38.4m
- Revenue
- $446.9k
- Investments
- $0.0
- Employees
- 10
- Location
- Lakeland, FL
- Founding
- 04/1997
- Data as of
- 05/2022
- EIN
- 59-3377240
Organization Overview
Academy Prep Foundation Inc is located in Lakeland, FL. The organization was established in 1997. According to its NTEE Classification (B20) the organization is classified as: Elementary & Secondary Schools, under the broad grouping of Education and related organizations. As of 05/2022, Academy Prep Foundation Inc employed 10 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Academy Prep Foundation 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 05/2022, Academy Prep Foundation Inc generated $446.9k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 7 years, the organization has seen revenues fall by an average of (10.5%) each year. All expenses for the organization totaled $1.1m during the year ending 05/2022. You can explore the organizations financials more deeply in the financial statements section below.
Since 2016, Academy Prep Foundation Inc has awarded 19 individual grants totaling $2,371,781. If you would like to learn more about the grant giving history of this organization, scroll down to the grant profile section of this page.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
OFFER ASSISTANCE AND SUPPORT TO ACADEMY PREP CENTERS TOWARD THEIR MISSION TO PROMOTE THE EDUCATIONAL, SOCIAL AND ETHICAL DEVELOPMENT OF MIDDLE SCHOOL STUDENTS THROUGH A RIGOROUS ACADEMIC PROGRAM.
Describe the Organization's Program Activity:
Part 3 - Line 4a
FOUNDATION PROVIDES SERVICES RELATED TO THE DEVELOPMENT AND ENHANCEMENT OF EDUCATIONAL PROGRAMS TO EDUCATIONAL FACILITIES ALONG WITH OTHER ADMINISTRATIVE ASSISTANCE. FOUNDATION COORDINATES FUNDRAISING ACTIVITIES AND HOLDS INVESTMENTS, INCLUDING FUNDS THE BOARD DESIGNATED FOR THE SUPPORT OF ACADEMY PREP CENTER OF TAMPA, ACADEMY PREP CENTER OF ST. PETERSBURG AND ACADEMY PREP CENTER OF LAKELAND ("THE SCHOOLS"). THE FOUNDATION OWNS THE LAND AND IMPROVEMENTS THAT HOUSE THE EDUCATIONAL FACILITIES FOR THE SCHOOLS. THE SCHOOLS ARE SCHOLARSHIP SUPPORTED MIDDLE SCHOOLS FOR INNER CITY CHILDREN WHICH ALSO PROVIDE SUMMER AND EVENING CLASSES FOR STUDENT ENHANCEMENT AND EDUCATION.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Lincoln Tamayo COO | Officer | 5 | $112,292 |
Paul L Whiting Sr Treasurer | OfficerTrustee | 5 | $0 |
John Erik Savitsky Secretary | OfficerTrustee | 5 | $0 |
Tom Sansone Chair | OfficerTrustee | 5 | $0 |
Terri Scarcelli CFO | Officer | 32.5 | $0 |
Patricia Douglas Trustee | Trustee | 5 | $0 |
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 | $802,270 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $802,270 |
| Total Program Service Revenue | $0 |
| Investment income | $353,439 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$708,848 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $446,861 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $503,371 |
| 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. | $112,292 |
| Compensation of current officers, directors, key employees. | $112,292 |
| 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 | $0 |
| Fees for services: Accounting | $21,925 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $65,057 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $2,711 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $915 |
| 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 | $388,056 |
| Insurance | $0 |
| All other expenses | $1,338 |
| Total functional expenses | $1,095,665 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $985,395 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $93,208 |
| 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 | $13,953,391 |
| Investments—publicly traded securities | $23,309,076 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $12,600 |
| Total assets | $38,353,670 |
| Accounts payable and accrued expenses | $13,473 |
| 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 | $250,000 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $263,473 |
| Net assets without donor restrictions | $33,387,972 |
| Net assets with donor restrictions | $4,702,225 |
| 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 | $38,353,670 |
Grants Awarded
Over the last fiscal year, Academy Prep Foundation Inc has awarded $367,004 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
St Petersburg, FL PURPOSE: OPERATING EXPENSES AND GRADUATE SUPPORT | $334,504 |
Lakeland, FL PURPOSE: OPERATING EXPENSES AND GRADUATE SUPPORT | $32,500 |
Grants Recieved
Over the last fiscal year, we have identified 2 grants that Academy Prep Foundation Inc has recieved totaling $585,000.
| Awarding Organization | Amount |
|---|---|
George Jenkins Foundation Inc Lakeland, FL PURPOSE: FOR ACADEMY PREP OF LAKELAND OPERATIONS | $575,000 |
Morgan Stanley Global Impact Funding Trust Inc Indianapolis, IN PURPOSE: UNRESTRICTED GENERAL SUPPORT | $10,000 |
Endowment Analysis
| Beg. Balance | $12,263,440 |
| Earnings | -$397,747 |
| Net Contributions | $9,353,612 |
| Other Expense | $686,563 |
| Ending Balance | $20,532,742 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Canterbury School Corporation Fort Myers, FL | $32,236,169 | $23,638,435 |
Brookstone School Inc Columbus, GA | $71,035,506 | $24,481,396 |
The Masters Academy Of Central Florida Inc Oviedo, FL | $26,482,967 | $18,246,673 |
Savannah Christian Preparatory School Inc Savannah, GA | $28,769,990 | $18,697,901 |
Saint Edwards School Vero Beach, FL | $54,149,022 | $17,250,987 |
Strong Rock Christian School Inc Locust Grove, GA | $18,179,980 | $18,285,975 |
Fellowship Christian School Inc Roswell, GA | $48,536,188 | $18,034,878 |
St Pauls Episcopal School Mobile, AL | $26,189,566 | $16,422,172 |
Dubois Integrity Academy Inc Riverdale, GA | $36,435,666 | $18,797,787 |
William Monroe Rowlett Academy For Arts And Communication Bradenton, FL | $11,754,381 | $15,312,169 |
Episcopal Day Private School Of Manatee County Inc Bradenton, FL | $25,876,327 | $15,435,458 |
St Francis Day School Inc Roswell, GA | $35,555,718 | $15,564,442 |