Rainier Prep
- Assets
- $4.4m
- Revenue
- $6.2m
- Investments
- $0.0
- Employees
- 50
- Location
- Seattle, WA
- Founding
- 07/2014
- Data as of
- 08/2022
- EIN
- 80-0956961
Organization Overview
Rainier Prep is located in Seattle, WA. The organization was established in 2014. 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 08/2022, Rainier Prep employed 50 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Rainier 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 08/2022, Rainier Prep generated $6.2m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 12.3% each year . All expenses for the organization totaled $5.6m during the year ending 08/2022. While expenses have increased by 16.6% 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
SEE SCHEDULE O
Describe the Organization's Program Activity:
Part 3 - Line 4a
RAINIER PREP PROVIDES PUBLIC EDUCATION TO STUDENTS IN GRADES 5-8 IN THE HIGHLINE AREA NEAR SEATTLE/TACOMA. RAINIER PREP SEEKS TO PREPARE STUDENTS FOR COLLEGE, CAREER READINESS, AND TO BECOME LEADERS IN THEIR COMMUNITIES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Karen Lobos Executive Director | Officer | 70 | $126,000 |
Andy Jassy Board Chair | OfficerTrustee | 5 | $0 |
Sean Boyle Treasurer | OfficerTrustee | 5 | $0 |
Bob Kimball Secretary | OfficerTrustee | 5 | $0 |
Peter Orser Board Member | Trustee | 5 | $0 |
Sherry Williams Board Member | Trustee | 5 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $75,250 |
| Related organizations | $0 |
| Government grants | $949,726 |
| All other contributions, gifts, grants, and similar amounts not included above | $715,880 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,740,856 |
| Total Program Service Revenue | $4,448,499 |
| Investment income | $33,613 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $1,961 |
| Net Income from Fundraising Events | -$24,719 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $6,200,210 |
| 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. | $154,790 |
| Compensation of current officers, directors, key employees. | $118,190 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $2,679,915 |
| Pension plan accruals and contributions | $372,326 |
| Other employee benefits | $395,702 |
| Payroll taxes | $192,567 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $56,064 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $54,664 |
| Advertising and promotion | $24,613 |
| Office expenses | $43,931 |
| Information technology | $54,134 |
| Royalties | $0 |
| Occupancy | $321,781 |
| Travel | $0 |
| 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 | $0 |
| Insurance | $20,386 |
| All other expenses | $0 |
| Total functional expenses | $5,552,132 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $983,894 |
| Savings and temporary cash investments | $607,534 |
| Pledges and grants receivable | $1,858,676 |
| Accounts receivable, net | $10,000 |
| 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 | $85,700 |
| Net Land, buildings, and equipment | $5,013 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $831,535 |
| Total assets | $4,382,352 |
| Accounts payable and accrued expenses | $158,638 |
| 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 | $1,138,521 |
| Total liabilities | $1,297,159 |
| 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 | $3,085,193 |
| Total liabilities and net assets/fund balances | $4,382,352 |
Grants Recieved
Over the last fiscal year, we have identified 11 grants that Rainier Prep has recieved totaling $220,064.
| Awarding Organization | Amount |
|---|---|
Schwab Charitable Fund San Francisco, CA PURPOSE: EDUCATION | $76,850 |
Oscar G & Elsa S Mayer Family Foundation Arlington Heights, IL PURPOSE: HYBRID INSTRUCTIONAL MODEL | $40,000 |
Gow Family Foundation Bellevue, WA PURPOSE: GENERAL PURPOSES | $25,000 |
Silver Family Foundation Darien, CT PURPOSE: EDUCATION | $25,000 |
American Online Giving Foundation Inc Newark, DE PURPOSE: GENERAL SUPPORT | $21,164 |
Young Family Foundation Bellevue, WA PURPOSE: GENERAL PURPOSES | $10,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Oregonians For Online Education Inc Scio, OR | $4,402,348 | $19,081,202 |
Head Start Of Lane County Springfield, OR | $2,527,429 | $16,579,600 |
Bellevue Christian School Clyde Hill, WA | $30,172,969 | $19,117,313 |
Cascade Christian Schools Puyallup, WA | $24,414,305 | $18,312,938 |
Delphi Schools Inc Sheridan, OR | $68,746,624 | $17,868,394 |
Sun Valley Community School Inc Sun Valley, ID | $39,076,653 | $16,449,416 |
Idaho Arts Charter School Nampa, ID | $27,001,838 | $12,430,623 |
St Marys Of Medford Inc Medford, OR | $29,778,861 | $10,667,764 |
Compass Public Charter School Inc Meridian, ID | $30,633,815 | $11,054,812 |
Saint Georges School Spokane, WA | $26,592,411 | $9,553,681 |
Eton School Foundation Bellevue, WA | $11,656,623 | $8,432,891 |
International School Portland, OR | $15,344,083 | $7,525,530 |