Owasso Preparatory Academy Incorporated
- Assets
- $1.3m
- Revenue
- $1.3m
- Investments
- $0.0
- Employees
- 78
- Location
- Owasso, OK
- Founding
- 09/2017
- Data as of
- 06/2024
- EIN
- 81-3075864
Organization Overview
Owasso Preparatory Academy Incorporated is located in Owasso, OK. The organization was established in 2017. 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 06/2024, Owasso Preparatory Academy Incorporated employed 78 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Owasso Preparatory Academy Incorporated 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 06/2024, Owasso Preparatory Academy Incorporated generated $1.3m in total revenue. This organization has experienced exceptional growth, as over the past 8 years, it has increased revenue by an average of 33.6% each year . All expenses for the organization totaled $1.4m during the year ending 06/2024. While expenses have increased by 36.5% per year over the past 8 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
2024
Describe the Organization's Mission:
Part 3 - Line 1
OWASSO PREPARATORY ACADEMY IS A PRIVATE CHRISTIAN SCHOOL IN THE UNIVERSITY-MODEL. THE CORPORATION'S MISSION IS TO PARTNER WITH PARENTS TO PREPARE STUDENTS FOR HIGHER EDUCATION THROUGH EXCEPTIONAL ACADEMICS, QUALITY EXTRACURRICULAR ACTIVITIES, AND PURPOSEFUL DEVELOPMENT OF CHRIST-LIKE CHARACTER.
Describe the Organization's Program Activity:
Part 3 - Line 4a
OWASSO PREPARATORY ACADEMY PROVIDES EDUCATION AND TRAINING IN LANGUAGE, ARTS, MATHEMATICS, SCIENCE, HISTORY, PHYSICAL EDUCATION, AND VARIOUS EXTRACURRICULAR CLASSES. EXTRACURRICULAR CLASSES OFFERED IN THE 2022-2023 ACADEMIC YEAR INCLUDED SPANISH, ART, MUSIC, AND DRAMA. THE ACADEMY HAD 307 STUDENTS ENROLLED IN THE 2022-2023 SCHOOL YEAR, 225 STUDENTS ENROLLED IN THE 2020-2021 SCHOOL YEAR, 178 STUDENTS ENROLLED IN THE 2019-2020 SCHOOL YEAR,140 STUDENTS ENROLLED IN THE 2018-2019 SCHOOL YEAR AND 86 STUDENTS ENROLLED IN THE 2017-2018 SCHOOL YEAR.
OTHER PROGRAM EXPENSES
OWASSO PREPARATORY ACADEMY OFFERS SEVERAL PROGRAMS FOR STUDENTS TO PARTICIPATE OUTSIDE THE CLASSROM TO EXTEND THEIR LIFE SKILLS. EXTRACURRICULAR PROGRAMS SUCH AS ATHLETICS, CLUBS AND OTHER ORGANIZATIONS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Tiffany Rinas Board Officer | OfficerTrustee | 40 | $32,815 |
Chad Classen Board President And Chairman | OfficerTrustee | 5 | $0 |
Jake Crawford Board Treasurer | OfficerTrustee | 5 | $0 |
Sommer Parschauer Board Officer | OfficerTrustee | 5 | $0 |
Katie Baskins Board Vice President | Officer | 5 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $73,193 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $130,877 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $204,070 |
| Total Program Service Revenue | $1,140,540 |
| Investment income | $412 |
| 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 | $1,345,022 |
| 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 | $932,057 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $13,526 |
| Payroll taxes | $76,967 |
| Fees for services: Management | $18,090 |
| 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 | $12,807 |
| Advertising and promotion | $14,386 |
| Office expenses | $15,869 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $49,120 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | -$1,451 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $29,724 |
| Insurance | $17,294 |
| All other expenses | $0 |
| Total functional expenses | $1,393,258 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $636,270 |
| Savings and temporary cash investments | $501,419 |
| Pledges and grants receivable | $0 |
| 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 | $60,607 |
| Net Land, buildings, and equipment | $72,795 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $1,271,091 |
| Accounts payable and accrued expenses | $0 |
| Grants payable | $0 |
| Deferred revenue | $897,027 |
| 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 | $0 |
| Total liabilities | $897,027 |
| Net assets without donor restrictions | $217,519 |
| Net assets with donor restrictions | $156,545 |
| 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 | $1,271,091 |