Civic Intelligence

Freedom Preparatory Academy Inc.

990 • Fiscal year 2012 • EIN 26-1342579

Jul 01, 2011 to Jun 30, 2012 • Filed on May 15, 2013

Organization ProfileWWW.FREEDOMPREP.ORG
5132 Jonetta Street38109
Siviq Scores

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

Liabilities / Assets

51st percentile

0.14x

Higher debt load relative to assets than 51% of similar nonprofits.

2012 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2012

Liabilities / Revenue

Score unavailable

No value available

Liabilities-to-revenue requires both liabilities and revenue on this filing.

Source year 2012

Net Margin

Score unavailable

No value available

Net margin requires both revenue and expenses on this filing.

Source year 2012

Top Officer Pay

Score unavailable

No value available

This filing does not contain officer compensation rows.

Source year 2012

Asset Growth

Score unavailable

No value available

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

Source year 2012

Revenue Growth

Score unavailable

No value available

No valid filing value is available for this score.

Balance Sheet
Liabilities / Assets51st percentile

Assets

$412,108

No earlier filing loaded for comparison.

Net Assets

$355,736

No earlier filing loaded for comparison.

Liabilities

$56,372

No earlier filing loaded for comparison.

Revenue And Expenses
Liabilities / RevenueScore unavailableNet MarginScore unavailable

Revenue

-

No earlier filing loaded for comparison.

Expenses

$2,327,495

No earlier filing loaded for comparison.

Net Income

-

No earlier filing loaded for comparison.

Historical Trend

Balance Sheet Trend

Asset GrowthScore unavailable

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

$60M$40M$20M$0Assets 2012: $412,108Liabilities 2012: $56,372Net Assets 2012: $355,7362012Assets 2013: $498,817Liabilities 2013: $236,210Net Assets 2013: $262,6072013Assets 2014: $717,229Liabilities 2014: $341,056Net Assets 2014: $376,1732014Assets 2015: $2,975,969Liabilities 2015: $2,018,825Net Assets 2015: $957,1442015Assets 2016: $3,970,097Liabilities 2016: $2,660,876Net Assets 2016: $1,309,2212016Assets 2017: $6,869,085Liabilities 2017: $4,911,449Net Assets 2017: $1,957,6362017Assets 2018: $9,007,927Liabilities 2018: $4,587,008Net Assets 2018: $4,420,9192018Assets 2020: $24,937,095Liabilities 2020: $15,414,704Net Assets 2020: $9,522,3912020Assets 2021: $31,757,186Liabilities 2021: $16,894,830Net Assets 2021: $14,862,3562021Assets 2025: $57,153,273Liabilities 2025: $25,846,111Net Assets 2025: $31,307,1622025

Highlighted filing

2012

Assets$412,108
Liabilities$56,372
Net Assets$355,736
Open 2012 Filing

Operations Trend

Revenue GrowthScore unavailable

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

$40M$30M$20M$10M$0Expenses 2012: $2,327,4952012Expenses 2013: $2,619,8612013Revenue 2014: $3,915,037Expenses 2014: $3,801,471Net Income 2014: $113,5662014Revenue 2015: $8,505,277Expenses 2015: $7,543,866Net Income 2015: $961,4112015Revenue 2016: $12,924,720Expenses 2016: $12,507,738Net Income 2016: $416,9822016Revenue 2017: $16,466,386Expenses 2017: $15,623,568Net Income 2017: $842,8182017Revenue 2018: $19,916,172Expenses 2018: $18,583,251Net Income 2018: $1,332,9212018Revenue 2020: $25,017,727Expenses 2020: $22,163,001Net Income 2020: $2,854,7262020Revenue 2021: $31,026,629Expenses 2021: $25,686,664Net Income 2021: $5,339,9652021Revenue 2025: $30,495,662Expenses 2025: $29,455,885Net Income 2025: $1,039,7772025

Highlighted filing

2012

Revenue-
Expenses$2,327,495
Net Income-
Open 2012 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2011 to Jun 30, 2012
Signed
May 15, 2013
Return Version
2011v1.2
Gross Receipts
$2,285,411
Mission and Program Overview

Mission

Freedom preparatory academy prepares all students in grades k-12 to excel in college and in life. It's focus is a clear strategic and direct path to college for every student that enters our doors.

Major Activities

Activity 2
Free lunch program from title i funds of tenn. Dept. Of education's no child left behind.
Filing and Contact Details

Filer

EIN
26-1342579
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IRS990ScheduleD/Form990ScheduleDPartXIV/Explanation0THE ACADEMY ADOPTED THE INCOME TAX TOPIC OF THE FINANCIAL ACCOUNTING STANDARDS BOARD (FASB) ACCOUNTING STANDARDS CODIFICATION (ASC) 740, WHICH PROVIDES GUIDANCE FOR HOW UNCERTAIN INCOME TAX POSITIONS SHOULD BE RECOGNIZED, MEASURED, PRESENTED AND DISCLOSED IN THE FINANCIAL STATEMENTS. THE ACADEMY IS REQUIRED TO EVALUATE THE INCOME TAX POSITIONS TAKEN OR EXPECTED TO BE TAKEN TO DETERMINE WHETHER THE POSITIONS ARE "MORE-LIKELY-THAN-NOT" TO BE SUSTAINED UPON EXAMINATION BY THE APPLICABLE TAX AUTHORITY. THE ACADEMY HAS DETERMINED THAT THE APPLICATION OF THE INCOME TAXES STANDARD DOES NOT IMPACT THE OPERATIONS OF THE ACADEMY AND THAT NO PROVISION FOR INCOME TAX IS REQUIRED IN THE ACADEMY'S FINANCIAL STATEMENTS. AS OF JUNE 30, 2012, THE FOLLOWING TAX YEARS REMAIN OPEN DUE TO THE APPLICABLE TAX AUTHORITY'S ABILITY TO REVIEW AND ASSESS PREVIOUSLY ISSUED RETURNS: FEDERAL - JUNE 30, 2009, 2010, 2011 AND 2012. THERE HAVE BEEN NO INTEREST OR PENALTIES RECOGNIZED IN THE STATEMENTS OF FINANCIAL POSITION OR STATEMENTS OF ACTIVITIES AND CHANGES IN NET ASSETS FOR THE YEAR ENDED JUNE 30, 2012.
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IRS990ScheduleO/GeneralExplanation/Explanation0FINANCIAL DIRECTOR COMPARES AMOUNTS ON FORM 990 TO AUDITED FINANCIAL STATEMENTS AND RECONCILES ANY DIFFERENCES BEFORE PRESENTING THE TAX RETURN TO THE BOARD.
IRS990ScheduleO/GeneralExplanation/Explanation1THE POLICY IS PRESENTED TO ALL BOARD MEMBERS AND KEY EMPLOYEES AT THE BEGINNING OF THEIR ASSOCIATION WITH THE SCHOOL. WRITTEN ACKNOWLEDGEMENT OF RECEIPT OF THE POLICY IS OBTAINED BY THE SCHOOL MANAGEMENT.
IRS990ScheduleO/GeneralExplanation/Explanation2FORM 990 AND FINANCIAL INFORMATION IS AVAILABLE ON THE WEBSITE AND UPON REQUEST.
IRS990ScheduleO/GeneralExplanation/Explanation3THE BOARD OF DIRECTORS SELECTS THE AUDITOR. THE FINANCIAL DIRECTOR OVERSEES THE AUDIT ACTIVITITES AND REVIEWS THE DRAFT OF THE FINANCIAL STATEMENTS BEFORE PRESENTING THEM TO THE BOARD. THIS PROCESS HAS NOT CHANGED FROM THE PREVIOUS YEAR.
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IRS990/TaxExemptBonds00
IRS990/TemporarilyRestrictedNetAssets/EOY0188108
IRS990/Terminated00
IRS990/TermOrPermanentEndowments00
IRS990/TheBooksAreInCareOf/AddressUS/AddressLine105132 JONETTA STREET
IRS990/TheBooksAreInCareOf/AddressUS/City0MEMPHIS
IRS990/TheBooksAreInCareOf/AddressUS/State0TN
IRS990/TheBooksAreInCareOf/AddressUS/ZIPCode038109
IRS990/TheBooksAreInCareOf/NamePerson0ROBLIN WEBB
IRS990/TheBooksAreInCareOf/TelephoneNumber09012595959
IRS990/TotalAssets/BOY0532375
IRS990/TotalAssetsBOY0532375
IRS990/TotalAssets/EOY0412108
IRS990/TotalAssetsEOY0412108
IRS990/TotalCompGT150K00
IRS990/TotalContributions0396057
IRS990/TotalExpensesCurrentYear02327495
IRS990/TotalExpensesPriorYear01848675
IRS990/TotalFunctionalExpenses/Fundraising00
IRS990/TotalFunctionalExpenses/ManagementAndGeneral0497346
IRS990/TotalFunctionalExpenses/ProgramServices01830149
IRS990/TotalFunctionalExpenses/Total02327495
IRS990/TotalFundrsngExpCurrentYear00
IRS990/TotalGrossUBI00
IRS990/TotalLiabilities/BOY0134555
IRS990/TotalLiabilitiesBOY0134555

Document Assets

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Filings

Displayed year

2012 • Form 990Facts available. Structured filing facts are available, but richer extracted sections are limited.

Open filing
Assets
$412,108
Liabilities
$56,372
Net assets
$355,736
Revenue
-
Expenses
$2,327,495
Net income
-
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2025Facts available. Structured filing facts are available, but richer extracted sections are limited.$57.2$25.8$31.3$30.5$29.5$1.04
2021Facts available. Structured filing facts are available, but richer extracted sections are limited.$31.8$16.9$14.9$31.0$25.7$5.34
2020XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$24.9$15.4$9.52$25.0$22.2$2.85
2018XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$9.01$4.59$4.42$19.9$18.6$1.33
2017XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$6.87$4.91$1.96$16.5$15.6$0.84
2016Detailed filing. Detailed filing data is available for this year.$3.97$2.66$1.31$12.9$12.5$0.42
2015Detailed filing. Detailed filing data is available for this year.$2.98$2.02$0.96$8.51$7.54$0.96
2014Detailed filing. Detailed filing data is available for this year.$0.72$0.34$0.38$3.92$3.80$0.11
2013Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.50$0.24$0.26$2.62
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.41$0.06$0.36$2.33