Belton Preparatory Academy Inc
- Assets
- $1.1m
- Revenue
- $2.7m
- Investments
- $0.0
- Employees
- 17
- Location
- Belton, SC
- Founding
- 04/2019
- Data as of
- 06/2023
- EIN
- 82-5507704
Organization Overview
Belton Preparatory Academy Inc is located in Belton, SC. 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. As of 06/2023, Belton Preparatory Academy Inc employed 17 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Belton Preparatory Academy 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 06/2023, Belton Preparatory Academy Inc generated $2.7m in total revenue. This organization has experienced exceptional growth, as over the past 5 years, it has increased revenue by an average of 25.7% each year . All expenses for the organization totaled $2.6m during the year ending 06/2023. While expenses have increased by 24.3% 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
BELTON PREPARATORY ACADEMY IS A TUITION-FREE CLASSICAL EDUCATION CHARTER SCHOOL WHOSE MISSION IS TO PREPARE ITS STUDENTS TO COMPETE WITH INTEGRITY AT THE HIGHEST LEVELS OF ACADEMICS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
BELTON PREPARATORY ACADEMY IS AN AWARD-WINNING TUITION-FREE CHARTER SCHOOL SERVING K5-7 GRADE STUDENTS IN THE BELTON, SC AREA. WE OFFER AN ACADEMICALLY RIGOROUS CLASSICAL EDUCATION CURRICULUM AND CHARACTER BUILDING ACTIVITIES THAT INSPIRE ALL LEARNERS. STUDENTS ARE SUPPORTED BY A CLOSE- KNIT COMMUNITY OF CARING TEACHERS AND STAFF AND ENGAGED FAMILIES. THE ACADEMY SERVED APPROXIMATELY 242 STUDENTS DURING FY23.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Angie King Chair | OfficerTrustee | 1.5 | $0 |
Candace Whitfield Vice Chair | OfficerTrustee | 1.5 | $0 |
Rachel Sibilio Treasurer | OfficerTrustee | 1.5 | $0 |
Amanda Moss Secretary | OfficerTrustee | 1.5 | $0 |
Ryan Butler Director | Trustee | 1.5 | $0 |
Blake Cooper Director | Trustee | 1.5 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $2,639,988 |
| 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 | $2,639,988 |
| Total Program Service Revenue | $19,398 |
| 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 | $2,659,386 |
| 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 | $1,103,876 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $242,101 |
| Payroll taxes | $0 |
| Fees for services: Management | $367,075 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $6,000 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $430,493 |
| Advertising and promotion | $0 |
| Office expenses | $20,303 |
| Information technology | $45,131 |
| Royalties | $0 |
| Occupancy | $41,999 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $123 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $179,684 |
| Insurance | $0 |
| All other expenses | $25,136 |
| Total functional expenses | $2,570,461 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $257,585 |
| Savings and temporary cash investments | $0 |
| 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 | $0 |
| Net Land, buildings, and equipment | $595,003 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $241,998 |
| Total assets | $1,094,586 |
| Accounts payable and accrued expenses | $221,479 |
| Grants payable | $0 |
| Deferred revenue | $5,123 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $407,770 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $117,440 |
| Total liabilities | $751,812 |
| 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 | $342,774 |
| Total liabilities and net assets/fund balances | $1,094,586 |