Lorain Preparatory High School Inc
- Assets
- $372.7k
- Revenue
- $1.1m
- Investments
- $0.0
- Employees
- 0
- Location
- Lorain, OH
- Founding
- Data as of
- 06/2023
- EIN
- 88-0766982
Organization Overview
Lorain Preparatory High School Inc is located in Lorain, OH. 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 Preparatory High School Inc is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2023
Describe the Organization's Mission:
Part 3 - Line 1
LPHS IS A PUBLIC CHARTER HIGH SCHOOL SERVING THE LORAIN COMMUNITY. WE ARE AN EXTENSION OF THE SAFE, ACCREDITED, AND ACADEMICALLY STRONG SCHOOL SYSTEM OFFERED BY ACCEL SCHOOLS' K-8 PROGRAMS IN LORAIN AND ELYRIA.
Describe the Organization's Program Activity:
Part 3 - Line 4a
AT LORAIN PREPARATORY HIGH SCHOOL, WE PROVIDE A STANDARDS-BASED CURRICULUM THAT TEACHES STUDENTS SKILLS FOR COLLEGE AND CAREER READINESS. OUR CURRICULUM IS BUILT ON THE OHIO LEARNING STANDARDS (OLS) FOR ENGLISH LANGUAGE ARTS, MATHEMATICS, SCIENCE, SOCIAL STUDIES, VISUAL ARTS, AND PHYSICAL EDUCATION. WE ARE A LEARNING COMMUNITY THAT VALUES HIGH EXPECTATIONS FOR BOTH ACADEMICS AND BEHAVIOR. WE ARE ACCREDITED BY COGNIATM FOR MEETING THE HIGHEST STANDARDS OF EDUCATION IN ONGOING THIRD-PARTY REVIEW AND SUPPORT STUDENTS WITH SMALL CLASS SIZES AND THE EXTRA ATTENTION AND SERVICES THEY NEED TO SUCCEED IN SCHOOL.
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PDF Copies of 990 Filings
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Marcello Torres Board Member | Trustee | 1 | $1,250 |
Rudolph Todd Kubasak Board Member | Trustee | 1 | $1,250 |
David Arredondo Board Member | Trustee | 1 | $1,125 |
Terrance Bivins Board Member | Trustee | 1 | $1,125 |
Kimberly Bartlett Board Member | Trustee | 1 | $875 |
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 | $1,050,319 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,050,319 |
| 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 | $1,050,319 |
| 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 | $355,391 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $35,650 |
| Payroll taxes | $0 |
| Fees for services: Management | $123,011 |
| Fees for services: Legal | $63,000 |
| Fees for services: Accounting | $22,100 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $169,375 |
| Advertising and promotion | $31,519 |
| Office expenses | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $214,895 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $8,368 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $62,396 |
| Insurance | $6,180 |
| All other expenses | $0 |
| Total functional expenses | $1,334,173 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $66,739 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $71,428 |
| Accounts receivable, net | $116 |
| 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 | $3,814 |
| Net Land, buildings, and equipment | $180,645 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $49,927 |
| Total assets | $372,669 |
| Accounts payable and accrued expenses | $656,523 |
| 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 | $0 |
| Total liabilities | $656,523 |
| Net assets without donor restrictions | -$283,854 |
| 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 | $372,669 |