Village Preparatory School Iii
- Assets
- $5.2m
- Revenue
- $6.6m
- Investments
- $0.0
- Employees
- 68
- Location
- Cleveland, OH
- Founding
- 01/2017
- Data as of
- 06/2021
- EIN
- 81-0807096
Organization Overview
Village Preparatory School Iii is located in Cleveland, OH. The organization was established in 2017. According to its NTEE Classification (B29) the organization is classified as: Charter Schools, under the broad grouping of Education and related organizations. As of 06/2021, Village Preparatory School Iii employed 68 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Village Preparatory School Iii 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, Village Preparatory School Iii generated $6.6m in total revenue. This organization has experienced exceptional growth, as over the past 5 years, it has increased revenue by an average of 13.2% each year . All expenses for the organization totaled $7.4m during the year ending 06/2021. While expenses have increased by 16.6% 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
THE SCHOOL'S MISSION IS TO SEEK TO PROVIDE A HIGH QUALITY, ACADEMICALLY RIGOROUS EDUCATION FOR THE COLLEGE BOUND SCHOLARS. THE SCHOOL EMPOWERS THEIR SCHOLARS TO THINK CRITICALLY, ASSUME SOCIAL RESPONSIBILITY, AND SERVE AS ADVOCATES FOR THEMSELVES AND THE COMMUNITY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE SCHOOL IS DEFINED BY THE HIGHLY STRUCTURED SCHOOL CULTURE FOUND IN MANY OF OUR NATION'S TOP-PERFORMING URBAN SCHOOLS. THE SCHOOL FOCUSES ON READING AND MATH INSTRUCTIONS INTEGRATING TECHNOLOGY, AND FEATURES TWO TEACHERS IN EACH CLASSROOM. TEACHERS ARE PASSIONATE AND COMMITTED, AND EVERY MINUTE IS USED TO THE FULLEST. ALTHOUGH YOUNG, THE SCHOLARS ARE HELD THE HIGH BEHAVIORAL AND ACADEMIC STANDARDS, AND UNDERSTAND THAT THEY ATTEND SCHOOL WITH COLLEGE AS THEIR LONG TERM GOAL. ALL CLASSROOMS ARE NAMED AND DECORATED AS SPECIFIC COLLEGE AS A CREATIVE WAY TO MOTIVATE AND REMIND SCHOLARS OF THEIR EDUCATIONAL OBJECTIVES. THE SCHOOL FREQUENTLY ASSESSES THE STUDENTS TO DETERMINE WITH STANDARDS HAVE BEEN MASTERED WITH STANDARDS DESERVE REVIEW AND REMEDIATION.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Molly Dubiel Principal | Officer | 40 | $91,035 |
Jasmine Foster Principal | Officer | 40 | $86,190 |
Alan Kopit Chair | OfficerTrustee | 1 | $0 |
Jeff Fast Board Member | Trustee | 1 | $0 |
Yolanda Polk Board Member | Trustee | 1 | $0 |
Sam Steinhouse Board Member | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $6,068,733 |
| 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 | $6,068,733 |
| Total Program Service Revenue | $83,373 |
| Investment income | $1,207 |
| 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 | $6,611,992 |
| 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. | $177,225 |
| Compensation of current officers, directors, key employees. | $12,406 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $2,848,042 |
| Pension plan accruals and contributions | $1,515,791 |
| Other employee benefits | $354,205 |
| Payroll taxes | $0 |
| Fees for services: Management | $1,171,984 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $546,391 |
| Advertising and promotion | $0 |
| Office expenses | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $545,549 |
| 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 | $3,388 |
| Insurance | $0 |
| All other expenses | $0 |
| Total functional expenses | $7,417,669 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,416,080 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $293,983 |
| Accounts receivable, net | $866 |
| 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 | $7,003 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $3,439,117 |
| Total assets | $5,157,049 |
| Accounts payable and accrued expenses | $405,841 |
| 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 | $555,700 |
| Other liabilities | $5,266,000 |
| Total liabilities | $6,227,541 |
| Net assets without donor restrictions | -$1,387,358 |
| 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 | $5,157,049 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Village Preparatory School Iii has recieved totaling $49,691.
| Awarding Organization | Amount |
|---|---|
Friends Of Breakthrough Schools Cleveland, OH PURPOSE: SCHOOL FUNDING | $49,691 |
Endowment Analysis
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Belmont Charter School Philadelphia, PA | $6,922,339 | $21,008,354 |
Propel Charter School Sunrise Pittsburgh, PA | $9,914,076 | $19,454,226 |
West Oak Lane Charter School Philadelphia, PA | $9,484,536 | $17,633,515 |
Mast Community Charter School Iii Philadelphia, PA | $53,124,349 | $21,172,350 |
Mast Community Charter School Ii Philadelphia, PA | $15,675,168 | $22,231,273 |
Mastery Charter School - Harrity Elementary Philadelphia, PA | $9,434,703 | $16,430,234 |
Wissahickon Charter School Philadelphia, PA | $12,512,836 | $17,919,129 |
York Academy Regional Charter School York, PA | $5,602,450 | $14,555,024 |
Career Academy Of South Bend Inc South Bend, IN | $28,812,268 | $15,770,291 |
21st Century Charter School At Gary Inc Indianapolis, IN | $16,296,159 | $15,193,404 |
Avondale Meadows Academy Inc Indianapolis, IN | $23,354,036 | $14,362,990 |
Mastery Charter School - Smedley Elementary Philadelphia, PA | $9,574,548 | $16,285,850 |