Civic Intelligence

Freedom Preparatory Academy Inc.

990 • Fiscal year 2014 • EIN 26-1342579

Jul 01, 2013 to Jun 30, 2014 • Filed on Apr 08, 2015

Organization ProfileWWW.FREEDOMPREP.ORG
5132 Jonetta Street38109

(901) 259-5959

Siviq Scores

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

Liabilities / Assets

77th percentile

0.48x

Higher debt load relative to assets than 77% of similar nonprofits.

2014 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2014

Liabilities / Revenue

45th percentile

0.09x

Higher debt load relative to revenue than 45% of similar nonprofits.

2014 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2014

Net Margin

51st percentile

2.9%

Higher net margin than 51% of similar nonprofits.

2014 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2014

Top Officer Pay

73rd percentile

$107,593

Higher top officer pay than 73% of similar nonprofits.

Top officer pay equals 2.7% of source-year revenue.

2014 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2014

Asset Growth

91st percentile

44%

Faster asset growth than 91% of similar nonprofits.

2014 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2013 to 2014

Revenue Growth

Score unavailable

No value available

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

Source year 2014

Balance Sheet
Liabilities / Assets77th percentile

Assets

Up

$717,229

Up $218,412 (+44%) from 2013

Net Assets

Up

$376,173

Up $113,566 (+43%) from 2013

Liabilities

Up

$341,056

Up $104,846 (+44%) from 2013

Revenue And Expenses
Liabilities / Revenue45th percentileNet Margin51st percentile

Revenue

$3,915,037

No earlier filing loaded for comparison.

Expenses

Up

$3,801,471

Up $1,181,610 (+45%) from 2013

Net Income

$113,566

No earlier filing loaded for comparison.

Historical Trend

Balance Sheet Trend

Asset Growth91st percentile

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

2014

Assets$717,229
Liabilities$341,056
Net Assets$376,173
Open 2014 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

2014

Revenue$3,915,037
Expenses$3,801,471
Net Income$113,566
Open 2014 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2013 to Jun 30, 2014
Signed
Apr 8, 2015
Return Version
2013v4.0
Gross Receipts
$3,915,037
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.

Freedom Preparatory Academy prepares all students in grades K-12 to excel in college and in life. Its focus is a clear, strategic and direct path to college for every student that enters our doors.

Balance Sheet Detail
LineBeginningEndChange
Assets
Accounts Receivable$109,173$342,339▲ $233,166
Cash and Non-Interest-Bearing Accounts$128,042$197,960▲ $69,918
Land, Buildings, and Equipment, Net$252,179$162,602▼ $89,577
Prepaid Expenses and Deferred Charges$7,700$9,560▲ $1,860
Savings and Temporary Cash Investments-$0-
Other Notes and Loans Receivable, Net-$0-
Pledges and Grants Receivable-$0-
Receivable From Disqualified Prsn-$0-
Receivables From Officers Etc-$0-
Investments Other Securities-$0-
Investments Program Related-$0-
Investments in Publicly Traded Securities-$0-
Intangible Assets-$0-
Inventories for Sale or Use-$0-
Total Assets$498,817$717,229▲ $218,412
Other Assets Total$1,723$4,768▲ $3,045
Liabilities
Accounts Payable and Accrued Expenses$47,129$198,806▲ $151,677
Mortgage Notes Payable Secured by Investment Property-$142,250-
Deferred Revenue$100,000--
Other Liabilities$89,081--
Total Liabilities$236,210$341,056▲ $104,846
Net Assets / Fund Balance
Temporarily Rstr Net Assets$252,179$278,304▲ $26,125
Unrestricted Net Assets$10,428$97,869▲ $87,441
Total Net Assets Fund Balance$262,607$376,173▲ $113,566
Total Liabilities and Net Assets / Fund Balance$498,817$717,229▲ $218,412

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$63,512$173,969$237,481
Leasehold Improvements$74,826$58,786$133,612
Other Land Buildings$24,264$24,096$48,360
Compensation and Service Providers
Top Officer Pay73rd percentile

Employees

NameTitleFull / Part TimeBaseOtherTotal
Roblin WebbCEOFT$94,093$13,500$107,593

Board Members and Trustees

NameTitle
Cardell OrinBoard Chair
Athena TurnerMember
Michael JonesMember
Michael LevinMember
Russ FlemingMember
Bruce LandaySecretary
John CornesTreasurer

Highest Paid Contractors

ContractorServicesLocationCompensation
Motive Power Services INCEducation Services-$100,442
Revenue and Support

Revenue Composition

Contributions and Grants
$3,915,037
Program Service Revenue
$0
Investment Income
$0
Other Revenue
$0
All Other Contributions
$740,741
Change in Net Assets
$113,566

Audited Revenue Reconciliation

Revenue per Audited Statements
$3,915,037
Total Revenue per Audited Statements
$3,915,037
Total Revenue per Form 990
$3,915,037
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$2,444,733
Other Expenses$1,356,738
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$1,585,797$751,343-$2,337,140
Occupancy$397,661$20,611-$418,272
All Other Expenses$147,549--$147,549
Other Expenses$96,746$12,496-$109,242
Current Officers, Directors, Trustees, and Key Employees$107,593--$107,593
Depreciation Depletion$11,353$79,473-$90,826
Insurance-$25,968-$25,968
Interest-$16,236-$16,236
Total Functional Expenses$2,574,539$1,226,932$0$3,801,471

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$3,801,471
Total Expenses per Audited Statements$3,801,471
Total Expenses per Form 990$3,801,471
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
Insider Transactions and Loans

Loans and Receivables

Line ItemBeginningEndChange
Receivables from Disqualified Persons-$0-
Receivables from Officers, Directors, Trustees, and Key Employees-$0-
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
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
No
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Line 11B: Form 990 Review Process

“Edtec, ceo and treasurer review form and then submit to the board for review.”

Form 990, Part VI, Line 12C: Explanation of Monitoring and Enforcement of Conflicts

“The policy is presented to all board members and key employees at the beginning of their association with the school.”

Form 990, Part VI, Line 18: Explanation of Other Means Forms Available For Public Inspection

“These documents are available upon request.”

Form 990, Part VI, Line 19: Other Organization Documents Publicly Available

“These documents are available upon request.”

Filing and Contact Details

Filer

EIN
26-1342579
Phone
9012595959

Signing Officer

Name
Roblin Webb
Title
CEO
Signed
2015-04-08
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Cardell Orin
Formed
2008
Legal Domicile
Tn
Voting Board Members
7
Independent Board Members
7
Employees
46
Volunteers
25

Preparer

Preparer
James a Rotherham CPA
Phone
6195439702
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IRS990/OtherSalariesAndWagesGrp/TotalAmt02337140
IRS990/OthNotesLoansReceivableNetGrp/EOYAmt00
IRS990/PartialLiquidationInd0false
IRS990/PaymentsToAffiliatesGrp/TotalAmt00
IRS990/PayPremiumsPrsnlBnftCntrctInd0false
IRS990/PayrollTaxesGrp/TotalAmt00
IRS990/PensionPlanContributionsGrp/TotalAmt00
IRS990/PledgesAndGrantsReceivableGrp/EOYAmt00
IRS990/PoliticalCampaignActyInd0false
IRS990/PrepaidExpensesDefrdChargesGrp/BOYAmt07700
IRS990/PrepaidExpensesDefrdChargesGrp/EOYAmt09560
IRS990/PrincipalOfficerNm0CARDELL ORIN
IRS990/ProfessionalFundraisingInd0false
IRS990/ProhibitedTaxShelterTransInd0false
IRS990/PYContributionsGrantsAmt02526496
IRS990/PYExcessBenefitTransInd0false
IRS990/PYInvestmentIncomeAmt0236
IRS990/PymtTravelEntrtnmntPubOfclGrp/TotalAmt00
IRS990/PYOtherExpensesAmt01021836
IRS990/PYRevenuesLessExpensesAmt0-93129
IRS990/PYSalariesCompEmpBnftPaidAmt01598025
IRS990/PYTotalExpensesAmt02619861
IRS990/PYTotalRevenueAmt02526732
IRS990/QuidProQuoContributionsInd0false
IRS990/RcvblFromDisqualifiedPrsnGrp/EOYAmt00
IRS990/RcvFndsToPayPrsnlBnftCntrctInd0false
IRS990/ReceivablesFromOfficersEtcGrp/EOYAmt00
IRS990/ReconcilationRevenueExpnssAmt0113566
IRS990/RegularMonitoringEnfrcInd0true
IRS990/RelatedEntityInd0false
IRS990/RelatedOrganizationCtrlEntInd0false
IRS990/ReportInvestmentsOtherSecInd0false
IRS990/ReportLandBuildingEquipmentInd0true
IRS990/ReportOtherAssetsInd0false
IRS990/ReportOtherLiabilitiesInd0false
IRS990/ReportProgramRelatedInvstInd0false
IRS990/RoyaltiesGrp/TotalAmt00
IRS990/RoyaltiesRevenueGrp/TotalRevenueColumnAmt00
IRS990/SavingsAndTempCashInvstGrp/EOYAmt00
IRS990ScheduleA/SchoolInd0X
IRS990ScheduleB/ContributorInformationGrp/ContributorBusinessName/BusinessNameLine10RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorNum0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/AddressLine10RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/AddressLine20RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/City0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/State0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/ZIPCode0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/TotalContributionsAmt0RESTRICTED
IRS990/ScheduleBRequiredInd0true
IRS990ScheduleD/EquipmentGrp/BookValueAmt063512
IRS990ScheduleD/EquipmentGrp/DepreciationAmt0173969
IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt0237481
IRS990ScheduleD/ExpensesSubtotalAmt03801471
IRS990ScheduleD/LeaseholdImprovementsGrp/BookValueAmt074826
IRS990ScheduleD/LeaseholdImprovementsGrp/DepreciationAmt058786
IRS990ScheduleD/LeaseholdImprovementsGrp/OtherCostOrOtherBasisAmt0133612
IRS990ScheduleD/OtherLandBuildingsGrp/BookValueAmt024264
IRS990ScheduleD/OtherLandBuildingsGrp/DepreciationAmt024096
IRS990ScheduleD/OtherLandBuildingsGrp/OtherCostOrOtherBasisAmt048360
IRS990ScheduleD/RevenueSubtotalAmt03915037
IRS990ScheduleD/TotalBookValueLandBuildingsAmt0162602
IRS990ScheduleD/TotalExpensesPerForm990Amt03801471
IRS990ScheduleD/TotalRevenuePerForm990Amt03915037
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt03915037
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt03801471
IRS990ScheduleE/ComplianceWithRevProc7550Ind0true
IRS990ScheduleE/DiscriminateRaceAdmissPlcyInd0false
IRS990ScheduleE/DiscriminateRaceAthltProgInd0false
IRS990ScheduleE/DiscriminateRaceEducPlcyInd0false
IRS990ScheduleE/DiscriminateRaceEmplmFcultyInd0false
IRS990ScheduleE/DiscriminateRaceOtherActyInd0false
IRS990ScheduleE/DiscriminateRaceSchsInd0false
IRS990ScheduleE/DiscriminateRaceStdntsRghtsInd0false
IRS990ScheduleE/DiscriminateRaceUseOfFcltsInd0false
IRS990ScheduleE/GovernmentFinancialAidRcvdInd0false
IRS990ScheduleE/GovernmentFinancialAidRvkdInd0false
IRS990ScheduleE/MaintainCpyOfAllSolInd0true
IRS990ScheduleE/MaintainCpyOfBrochuresEtcInd0true
IRS990ScheduleE/MaintainRacialCompRecsInd0true
IRS990ScheduleE/MaintainScholarshipsRecsInd0true
IRS990ScheduleE/NondiscriminatoryPolicyStmtInd0true
IRS990ScheduleE/PlcyPblczdViaBroadcastMediaInd0true
IRS990ScheduleE/PolicyStmtInBrochuresEtcInd0true
IRS990ScheduleE/SupplementalInformationDetail/ExplanationTxt0NONDISCRIMINATORY POLICY INCLUDED IN ALL ADVERTISEMENTS, ENROLLMENT MATERIALS, AND IN OUR CHARTER AS A PUBLIC SCHOOL.
IRS990ScheduleE/SupplementalInformationDetail/FormAndLineReferenceDesc0Schedule E, Line 3 - Racially Nondiscriminatory Policy Publicized
IRS990ScheduleE/SupplementalInformationDetail/FormAndLineReferenceDesc1Schedule E, Line 4 - Explanation of Records and Materials Not Maintained
IRS990ScheduleE/SupplementalInformationDetail/FormAndLineReferenceDesc2Schedule E, Line 5 - Explanation of Organization Discrimination by Race
IRS990/ScheduleJRequiredInd0false
IRS990/ScheduleORequiredInd0true
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0EDTEC, CEO AND TREASURER REVIEW FORM AND THEN SUBMIT TO THE BOARD FOR REVIEW.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1THE POLICY IS PRESENTED TO ALL BOARD MEMBERS AND KEY EMPLOYEES AT THE BEGINNING OF THEIR ASSOCIATION WITH THE SCHOOL.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2THESE DOCUMENTS ARE AVAILABLE UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3THESE DOCUMENTS ARE AVAILABLE UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0Form 990, Part VI, Line 11b: Form 990 Review Process
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1Form 990, Part VI, Line 12c: Explanation of Monitoring and Enforcement of Conflicts
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2Form 990, Part VI, Line 18: Explanation of Other Means Forms Available For Public Inspection
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3Form 990, Part VI, Line 19: Other Organization Documents Publicly Available
IRS990/SchoolOperatingInd0true
IRS990/SignificantChangeInd0false
IRS990/SignificantNewProgramSrvcInd0false
IRS990/SubjectToProxyTaxInd0false
IRS990/TaxableDistributionsInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TemporarilyRstrNetAssetsGrp/BOYAmt0252179
IRS990/TemporarilyRstrNetAssetsGrp/EOYAmt0278304
IRS990/TempOrPermanentEndowmentsInd0false
IRS990/TerminateOperationsInd0false
IRS990/TotalAssetsBOYAmt0498817
IRS990/TotalAssetsEOYAmt0717229
IRS990/TotalAssetsGrp/BOYAmt0498817
IRS990/TotalAssetsGrp/EOYAmt0717229
IRS990/TotalCompGreaterThan150KInd0false
IRS990/TotalContributionsAmt03915037
IRS990/TotalEmployeeCnt046
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt01226932
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt02574539
IRS990/TotalFunctionalExpensesGrp/TotalAmt03801471
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt0236210
IRS990/TotalLiabilitiesEOYAmt0341056
IRS990/TotalLiabilitiesGrp/BOYAmt0236210
IRS990/TotalLiabilitiesGrp/EOYAmt0341056
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt0262607
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt0376173
IRS990/TotalOtherCompensationAmt013500
IRS990/TotalProgramServiceExpensesAmt02574539
IRS990/TotalProgramServiceRevenueAmt00
IRS990/TotalReportableCompFromOrgAmt094093
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt03915037
IRS990/TotalVolunteersCnt025
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt0498817
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt0717229
IRS990/TransactionWithControlEntInd0false
IRS990/TravelGrp/TotalAmt00
IRS990/TrnsfrExmptNonChrtblRltdOrgInd0false

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Displayed year

2014 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$717,229
Liabilities
$341,056
Net assets
$376,173
Revenue
$3,915,037
Expenses
$3,801,471
Net income
$113,566
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