Civic Intelligence

Lexington Prep School Inc

990 • Fiscal year 2013 • EIN 26-0504362

Jan 01, 2013 to Dec 31, 2013 • Filed on Nov 06, 2014

Organization ProfileWWW.LEXINGTONPREP.COM
C/O Son Hui Kim 265 Lowell Street02420-2701

(781) 860-7550

Siviq Scores

Precomputed percentiles for this filing year versus similar nonprofits in the same peer cohort.

Liabilities / Assets

100th percentile

5.11x

Higher debt load relative to assets than 100% of similar nonprofits.

2013 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2013

Liabilities / Revenue

88th percentile

1.78x

Higher debt load relative to revenue than 88% of similar nonprofits.

2013 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2013

Net Margin

32nd percentile

-2.7%

Higher net margin than 32% of similar nonprofits.

2013 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2013

Top Officer Pay

56th percentile

$62,600

Higher top officer pay than 56% of similar nonprofits.

Top officer pay equals 5.4% of source-year revenue.

2013 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2013

Asset Growth

82nd percentile

20%

Faster asset growth than 82% of similar nonprofits.

2013 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2012 to 2013

Revenue Growth

Score unavailable

No value available

No earlier valid filing was available within the previous three public years.

Source year 2013

Balance Sheet
Liabilities / Assets100th percentile

Assets

Up

$406,790

Up $67,758 (+20%) from 2012

Net Assets

Down

-$1,673,521

Down $31,196 (-1.9%) from 2012

Liabilities

Up

$2,080,311

Up $98,954 (+5.0%) from 2012

Revenue And Expenses
Liabilities / Revenue88th percentileNet Margin32nd percentile

Revenue

$1,167,180

No earlier filing loaded for comparison.

Expenses

Down

$1,198,376

Down $306,034 (-20%) from 2012

Net Income

-$31,196

No earlier filing loaded for comparison.

Historical Trend

Balance Sheet Trend

Asset Growth82nd percentile

The highlighted filing sits inside the broader history for assets, liabilities, and net assets.

$3.0M$2.0M$1.0M$0-$1.0M-$2.0MAssets 2011: $291,005Liabilities 2011: $1,770,620Net Assets 2011: -$1,479,6152011Assets 2012: $339,032Liabilities 2012: $1,981,357Net Assets 2012: -$1,642,3252012Assets 2013: $406,790Liabilities 2013: $2,080,311Net Assets 2013: -$1,673,5212013Assets 2015: $471,209Liabilities 2015: $1,812,154Net Assets 2015: -$1,340,9452015Assets 2016: $712,611Liabilities 2016: $1,587,073Net Assets 2016: -$874,4622016Assets 2017: $20,950Liabilities 2017: $695,487Net Assets 2017: -$674,5372017

Highlighted filing

2013

Assets$406,790
Liabilities$2,080,311
Net Assets-$1,673,521
Open 2013 Filing

Operations Trend

Revenue GrowthScore unavailable

Revenue, expenses, and net income across loaded years, with this filing highlighted.

$2.0M$1.5M$1.0M$500K$0-$500KExpenses 2011: $1,096,3492011Expenses 2012: $1,504,4102012Revenue 2013: $1,167,180Expenses 2013: $1,198,376Net Income 2013: -$31,1962013Revenue 2015: $1,445,690Expenses 2015: $1,295,711Net Income 2015: $149,9792015Revenue 2016: $1,749,918Expenses 2016: $1,283,435Net Income 2016: $466,4832016Revenue 2017: $562,318Expenses 2017: $363,163Net Income 2017: $199,1552017

Highlighted filing

2013

Revenue$1,167,180
Expenses$1,198,376
Net Income-$31,196
Open 2013 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2013 to Dec 31, 2013
Signed
Nov 6, 2014
Return Version
2013v3.1
Gross Receipts
$1,167,180
Mission and Program Overview

Mission

The schools mission is to provide students with academic english languauge skills, studying, research and testing strategies and background knowledge of american culture that will help them suceed in eltie us schools and colleges.

The oranization operates a private secondary boarding school. The goal is to help the students to cooperate and work with citizens of many cultures and to make this a better world for tomorrow.

Balance Sheet Detail
LineBeginningEndChange
Assets
Cash and Non-Interest-Bearing Accounts$129,443$194,714▲ $65,271
Land, Buildings, and Equipment, Net$104,242$112,001▲ $7,759
Intangible Assets$55,347$50,075▼ $5,272
Rtn Earn Endowment Incm Other Fnds$-1,642,325$-1,673,521▼ $31,196
Total Assets$339,032$406,790▲ $67,758
Other Assets Total$50,000$50,000→ $0
Liabilities
Other Liabilities$1,681,357$1,780,311▲ $98,954
Mortgage Notes Payable Secured by Investment Property$300,000$300,000→ $0
Total Liabilities$1,981,357$2,080,311▲ $98,954
Net Assets / Fund Balance
Total Net Assets Fund Balance$-1,642,325$-1,673,521▼ $31,196
Total Liabilities and Net Assets / Fund Balance$339,032$406,790▲ $67,758

Asset Categories

AssetBook ValueDepreciationBasis
Other Land Buildings$55,934$125,284$181,218
Leasehold Improvements$29,937$70,928$100,865
Equipment$26,130$47,870$74,000
Other Assets Org$50,000--
Compensation and Service Providers
Top Officer Pay56th percentile

Employees

NameTitleFull / Part TimeBaseTotal
Son Hui KimPresidentFT$62,600$62,600
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$1,167,180
Investment Income
$0
Other Revenue
$0
Change in Net Assets
$-31,196
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$858,267
Salaries, Compensation, and Employee Benefits$340,109
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Occupancy$467,656$51,961-$519,617
Other Salaries and Wages$217,154$7,827-$224,981
Advertising$76,896--$76,896
Current Officers, Directors, Trustees, and Key Employees$31,300$31,300-$62,600
Depreciation Depletion$39,764$4,418-$44,182
Insurance$34,447$3,827-$38,274
Payroll Taxes$27,071$3,443-$30,514
Other Employee Benefits-$22,014-$22,014
Interest$9,125$9,125-$18,250
Information Technology$14,931$1,659-$16,590
Travel$10,618--$10,618
Fees for Services Accounting-$5,569-$5,569
Other Expenses$5,427--$5,472
All Other Expenses$1,564$2,134-$3,696
Office Expenses$688$687-$1,375
Total Functional Expenses$1,054,369$143,964$0$1,198,376
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Employee Advances$1,680,884
Credit Cards$61,321
Student Accounts$25,485
Federal income taxes$11,900
Loans$721
Payroll Withholding-
Loans - Man Su Kim-
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Backup withholding compliance
Yes
Business relationship with family members
No
Business relationship with organization members
No
Material changes to governing documents
No
Compensation from other sources disclosed
No
CEO compensation reviewed
No
Other officer compensation reviewed
No
Conflict-of-interest policy
Yes
Audited financial statements prepared
No
Key decisions subject to board approval
Yes
Management duties delegated
No

Governance Explanations

990, Part VI, Section B, Line 11B

“The president reviews and signs the form 990”

990, Part VI, Section SECTION C, Line 19

“The school does not make available the governing documents, conflict of interest nor financial statements”

Filing and Contact Details

Filer

EIN
26-0504362
Phone
7818607550

Signing Officer

Name
Son Hui Kim
Title
President
Signed
2014-11-06
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Son Hui Kim
Formed
2007
Legal Domicile
Ma
Voting Board Members
1
Independent Board Members
0
Employees
29

Preparer

Preparer
David Merkel
Phone
7819325361
Supplemental Narrative

Additional Explanations

990, Part V, Section A, Line 6, 7A AND 7B

“The organization is organized as a corporation. It has officers and a board of directors.”

990, Part V, Section B, Line 12C

“This is a small school. The director knows the people involved with the school and any conflict of interest would be identified.”

Raw XML Appendix360 raw XML fields

This appendix keeps the raw XML leaves available for debugging and edge-case review. The human report above is the primary experience.

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IRS990/MissionDesc0THE SCHOOLS MISSION IS TO PROVIDE STUDENTS WITH ACADEMIC ENGLISH LANGUAUGE SKILLS, STUDYING, RESEARCH AND TESTING STRATEGIES AND BACKGROUND KNOWLEDGE OF AMERICAN CULTURE THAT WILL HELP THEM SUCEED IN ELTIE US SCHOOLS AND COLLEGES.
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0THE PRESIDENT REVIEWS AND SIGNS THE FORM 990
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1THE SCHOOL DOES NOT MAKE AVAILABLE THE GOVERNING DOCUMENTS, CONFLICT OF INTEREST NOR FINANCIAL STATEMENTS
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2THE ORGANIZATION IS ORGANIZED AS A CORPORATION. IT HAS OFFICERS AND A BOARD OF DIRECTORS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3THIS IS A SMALL SCHOOL. THE DIRECTOR KNOWS THE PEOPLE INVOLVED WITH THE SCHOOL AND ANY CONFLICT OF INTEREST WOULD BE IDENTIFIED.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0990, Part VI, Section B, Line 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1990, Part VI, Section SECTION C, Line 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2990, Part V, Section A, Line 6, 7a AND 7b
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3990, Part V, Section B, Line 12c
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IRS990/TempOrPermanentEndowmentsInd0false
IRS990/TerminateOperationsInd0false
IRS990/TotalAssetsBOYAmt0339032
IRS990/TotalAssetsEOYAmt0406790
IRS990/TotalAssetsGrp/BOYAmt0339032
IRS990/TotalAssetsGrp/EOYAmt0406790
IRS990/TotalCompGreaterThan150KInd0false
IRS990/TotalEmployeeCnt029
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt0143964
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt01054369
IRS990/TotalFunctionalExpensesGrp/TotalAmt01198376
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt01981357
IRS990/TotalLiabilitiesEOYAmt02080311
IRS990/TotalLiabilitiesGrp/BOYAmt01981357
IRS990/TotalLiabilitiesGrp/EOYAmt02080311
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt0-1642325
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt0-1673521
IRS990/TotalProgramServiceExpensesAmt01054369
IRS990/TotalProgramServiceRevenueAmt01167180
IRS990/TotalReportableCompFromOrgAmt062600
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt01167180
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt01167180
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt0339032
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt0406790
IRS990/TravelGrp/ProgramServicesAmt010618
IRS990/TravelGrp/TotalAmt010618
IRS990/TrnsfrExmptNonChrtblRltdOrgInd0false
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine10265 LOWELL ST
IRS990/USAddress/City0LEXINGTON
IRS990/USAddress/State0MA
IRS990/USAddress/ZIPCode002420
IRS990/VotingMembersGoverningBodyCnt01
IRS990/VotingMembersIndependentCnt00
IRS990/WebsiteAddressTxt0WWW.LEXINGTONPREP.COM
IRS990/WhistleblowerPolicyInd0false
ReturnHeader/BuildTS02015-11-30 17:44:51Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0SON HUI KIM
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0PRESIDENT
ReturnHeader/BusinessOfficerGrp/SignatureDt02014-11-06
ReturnHeader/Filer/BusinessName/BusinessNameLine10LEXINGTON PREP SCHOOL INC
ReturnHeader/Filer/BusinessNameControlTxt0LEXI
ReturnHeader/Filer/EIN0260504362
ReturnHeader/Filer/PhoneNum07818607550
ReturnHeader/Filer/USAddress/AddressLine10C/O SON HUI KIM 265 LOWELL STREET
ReturnHeader/Filer/USAddress/City0LEXINGTON
ReturnHeader/Filer/USAddress/State0MA
ReturnHeader/Filer/USAddress/ZIPCode0024202701
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine10DAVID P MERKEL CPA
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1021 CUMMINGS PARK STE 240
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/City0WOBURN
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/State0MA
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCode001801
ReturnHeader/PreparerPersonGrp/PhoneNum07819325361
ReturnHeader/PreparerPersonGrp/PreparationDt02014-11-06
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0DAVID MERKEL
ReturnHeader/PreparerPersonGrp/SelfEmployedInd0X
ReturnHeader/ReturnTs02014-11-06T09:39:09-00:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02013-01-01
ReturnHeader/TaxPeriodEndDt02013-12-31
ReturnHeader/TaxYr02013

Document Assets

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Filings

Displayed year

2013 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$406,790
Liabilities
$2,080,311
Net assets
-$1,673,521
Revenue
$1,167,180
Expenses
$1,198,376
Net income
-$31,196
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2017Detailed filing. Detailed filing data is available for this year.$0.02$0.70$0.67$0.56$0.36$0.20
2016Detailed filing. Detailed filing data is available for this year.$0.71$1.59$0.87$1.75$1.28$0.47
2015Detailed filing. Detailed filing data is available for this year.$0.47$1.81$1.34$1.45$1.30$0.15
2013Detailed filing. Detailed filing data is available for this year.$0.41$2.08$1.67$1.17$1.20$0.03
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.34$1.98$1.64$1.50
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.29$1.77$1.48$1.10