Lorain Bilingual Preparatory Academy
- Assets
- $1.6m
- Revenue
- $2.8m
- Investments
- $0.0
- Employees
- 0
- Location
- Lorain, OH
- Founding
- 05/2019
- Data as of
- 06/2021
- EIN
- 82-5246755
Organization Overview
Lorain Bilingual Preparatory Academy is located in Lorain, OH. The organization was established in 2019. According to its NTEE Classification (B29) the organization is classified as: Charter Schools, under the broad grouping of Education and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Lorain Bilingual Preparatory Academy 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, Lorain Bilingual Preparatory Academy generated $2.8m in total revenue. This organization has experienced exceptional growth, as over the past 3 years, it has increased revenue by an average of 42.9% each year . All expenses for the organization totaled $2.6m during the year ending 06/2021. While expenses have increased by 26.0% per year over the past 3 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
TO PROVIDE OPPORTUNITIES FOR EDUCATIONAL CHOICE TO STUDENTS AND FAMILIES OF THIS COMMUNITY. THE ORGANIZATION IS PRIMARILY ENGAGED IN PROVIDING INSTRUCTIONAL SERVICES TO ENROLLED STUDENTS IN GRADES K-8.
Describe the Organization's Program Activity:
Part 3 - Line 4a
LBA IS A LEARNING COMMUNITY WHICH VALUES HIGH EXPECTATIONS FOR BOTH ACADEMICS AND BEHAVIOR. LBA STAFF EMBRACES STUDENTS, FAMILIES, AND COMMUNITIES TO BUILD AND DEVELOP WELL-ROUNDED INDIVIDUALS WHO ARE INDEPENDENT CRITICAL THINKERS AND INTRINSICALLY MOTIVATED TO BE LIFE-LONG LEARNERS. WE BELIEVE THAT ALL CHILDREN CAN LEARN AS WE SEEK TO MAKE A DIFFERENCE IN THE LIVES OF OUR STUDENTS.
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PDF Copies of 990 Filings
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Kimberly Bartlett Board Member | Trustee | 1 | $1,250 |
Pastor Terrance Bivins Board Member | Trustee | 1 | $1,000 |
Todd Kubasak Board Member | Trustee | 1 | $1,000 |
David Arrendondo Board Member | Trustee | 1 | $1,000 |
Awilda Viera Baez Board Chairperson | Trustee | 1 | $125 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Accel Schools Management Services | 6/29/21 | $591,739 |
St Mary Church Rent | 6/29/21 | $170,790 |
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 | $2,787,866 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $2,787,866 |
| Total Program Service Revenue | $0 |
| 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 | $2,787,866 |
| 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 | $839,979 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $540,200 |
| Payroll taxes | $0 |
| Fees for services: Management | $347,890 |
| Fees for services: Legal | $42,000 |
| Fees for services: Accounting | $28,593 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $214,244 |
| Advertising and promotion | $35,591 |
| Office expenses | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $233,402 |
| 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 | $46,653 |
| Insurance | $7,420 |
| All other expenses | $14,507 |
| Total functional expenses | $2,577,505 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $78,990 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $338,530 |
| 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 | $13,179 |
| Net Land, buildings, and equipment | $75,092 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $1,105,258 |
| Total assets | $1,611,049 |
| Accounts payable and accrued expenses | $445,525 |
| 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 | $1,530,539 |
| Total liabilities | $1,976,064 |
| Net assets without donor restrictions | -$365,015 |
| 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 | $1,611,049 |
Peer Organizations
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|---|---|---|
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 |