Essence Prep Inc
- Assets
- $29.6m
- Revenue
- $4.3m
- Investments
- $0.0
- Employees
- 33
- Location
- San Antonio, TX
- Founding
- Data as of
- 06/2023
- EIN
- 85-3931348
Organization Overview
Essence Prep Inc is located in San Antonio, TX. 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, Essence Prep Inc employed 33 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Essence Prep 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, Essence Prep Inc generated $4.3m in total revenue. This organization has experienced exceptional growth, as over the past 2 years, it has increased revenue by an average of 68.8% each year . All expenses for the organization totaled $2.7m during the year ending 06/2023. While expenses have increased by 34.2% per year over the past 2 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
DEVELOPING LEADING AGENTS OF CHANGEESSENCE PREPARATORY PUBLIC SCHOOL, THROUGH RIGOROUS ACADEMICS, INTENTIONAL CHARACTER DEVELOPMENT, AND CULTIVATING STUDENT KNOWLEDGE OF SELF, PREPARES ALL KINDERGARTEN THROUGH EIGHTH GRADE STUDENTS FOR HIGH SCHOOL, COLLEGE, AND BEYOND AS LEADING AGENTS OF CHANGE IN THEIR COMMUNITIES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
ESSENCE PREPARATORY CHARTER SCHOOL ("ESSENCE PREP") PREPARES KINDERGARTEN THROUGH EIGHTH-GRADE SCHOLARS FOR HIGH SCHOOL, COLLEGE, AND BEYOND. WE EMPLOY A STUDENT-CENTERED APPROACH, WHERE RIGOROUS ACADEMICS, CHARACTER DEVELOPMENT, AND A STRUCTURED ENVIRONMENT BUILD A STRONG FOUNDATION. CULTIVATING OUR SCHOLARS' KNOWLEDGE OF SELF IS AN ESSENTIAL STEP IN PREPARING THEM FOR A FUTURE FULL OF POSSIBILITIES. AT ESSENCE PREP, EVERY SCHOLAR MAKES A JOURNEY OF SELF-DISCOVERY, AND IT UNDERPINS EVERYTHING WE DO. "SOCIAL-EMOTIONAL LEARNING" (SEL) IS UBIQUITOUS IN SCHOOLS THESE DAYS BUT, IT IS CLEAR TO OUR TEAM THAT SOMETHING IS LACKING FROM EXISTING PROGRAMS. EDUCATORS HAVE THE BEST INTENTIONS TO LAUNCH SEL PROGRAMMING FOR POSITIVE OUTCOMES. YET OUR TEAM KNOWS WHAT MOST EDUCATORS DO NOT: REAL SOCIAL-EMOTIONAL LEARNING STARTS FROM A DEEP AND GENUINE UNDERSTANDING OF ONE'S SELF. SCHOLARS CAN ONLY BE EXPECTED TO UNCOVER DEEP SOCIOLOGICAL OR EMOTIONAL TRUTHS IN THEIR WORLD ONCE THEY TRULY UNDERSTAND THEIR OWN MINDS, BODIES, AND PLACES IN THE WORLD. THIS IS ESPECIALLY TRUE OF THE SCHOLARS WE AIM TO SERVE.
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PDF Copies of 990 Filings
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Akeem Brown Superintendent | Officer | 40 | $116,240 |
Brian Dillard Chairman | OfficerTrustee | 2 | $0 |
Kanwal S Lopez Vice Chair | OfficerTrustee | 2 | $0 |
Jackie Gorman Secretary | OfficerTrustee | 2 | $0 |
George Pedraza Treasurer | OfficerTrustee | 2 | $0 |
Henrietta Munoz Board Member | Trustee | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $2,179,065 |
| All other contributions, gifts, grants, and similar amounts not included above | $1,582,633 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $3,761,698 |
| Total Program Service Revenue | $0 |
| Investment income | $534,173 |
| 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 | $4,295,871 |
| 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. | $116,240 |
| Compensation of current officers, directors, key employees. | $63,932 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $1,402,853 |
| Pension plan accruals and contributions | $103,165 |
| Other employee benefits | $0 |
| Payroll taxes | $124,728 |
| Fees for services: Management | $0 |
| 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 | $358,583 |
| Advertising and promotion | $0 |
| Office expenses | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $45,470 |
| 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 | $120,905 |
| Insurance | $31,872 |
| All other expenses | $30,575 |
| Total functional expenses | $2,712,187 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $17,493,318 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $105,071 |
| 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 | $11,835,002 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $133,875 |
| Total assets | $29,567,266 |
| Accounts payable and accrued expenses | $69,077 |
| 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 | $637,725 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $27,718,806 |
| Total liabilities | $28,425,608 |
| Net assets without donor restrictions | $1,141,658 |
| 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 | $29,567,266 |