Civic Intelligence

Village Preparatory School

990 • Fiscal year 2017 • EIN 26-2367774

Jul 01, 2016 to Jun 30, 2017 • Filed on Jan 25, 2018

Organization Profilewww.theprepschools.org
1415 East 36th StreetCleveland, OH 44114

(216) 456-2070

Siviq Scores

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

Liabilities / Assets

99th percentile

2.45x

Higher debt load relative to assets than 99% of similar nonprofits.

2017 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2017

Liabilities / Revenue

85th percentile

1.47x

Higher debt load relative to revenue than 85% of similar nonprofits.

2017 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2017

Net Margin

22nd percentile

-6.3%

Higher net margin than 22% of similar nonprofits.

2017 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2017

Top Officer Pay

30th percentile

$77,820

Higher top officer pay than 30% of similar nonprofits.

Top officer pay equals 1.5% of source-year revenue.

2017 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2017

Asset Growth

Score unavailable

No value available

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

Source year 2017

Revenue Growth

Score unavailable

No value available

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

Source year 2017

Balance Sheet
Liabilities / Assets99th percentile

Assets

$3,102,715

No earlier filing loaded for comparison.

Net Assets

-$4,498,385

No earlier filing loaded for comparison.

Liabilities

$7,601,100

No earlier filing loaded for comparison.

Revenue And Expenses
Liabilities / Revenue85th percentileNet Margin22nd percentile

Revenue

$5,178,179

No earlier filing loaded for comparison.

Expenses

$5,505,832

No earlier filing loaded for comparison.

Net Income

-$327,653

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.

$30M$20M$10M$0-$10M-$20MAssets 2017: $3,102,715Liabilities 2017: $7,601,100Net Assets 2017: -$4,498,3852017Assets 2019: $3,675,372Liabilities 2019: $6,622,421Net Assets 2019: -$2,947,0492019Assets 2020: $7,795,759Liabilities 2020: $20,378,452Net Assets 2020: -$12,582,6932020Assets 2021: $9,055,920Liabilities 2021: $20,167,838Net Assets 2021: -$11,111,9182021Assets 2022: $16,155,164Liabilities 2022: $21,942,121Net Assets 2022: -$5,786,9572022Assets 2025: $16,253,940Liabilities 2025: $18,935,178Net Assets 2025: -$2,681,2382025

Highlighted filing

2017

Assets$3,102,715
Liabilities$7,601,100
Net Assets-$4,498,385
Open 2017 Filing

Operations Trend

Revenue GrowthScore unavailable

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

$15M$10M$5.0M$0-$5.0MRevenue 2017: $5,178,179Expenses 2017: $5,505,832Net Income 2017: -$327,6532017Revenue 2019: $5,152,421Expenses 2019: $4,517,349Net Income 2019: $635,0722019Revenue 2020: $8,657,531Expenses 2020: $9,150,414Net Income 2020: -$492,8832020Revenue 2021: $9,599,473Expenses 2021: $8,128,698Net Income 2021: $1,470,7752021Revenue 2022: $13,142,444Expenses 2022: $7,817,483Net Income 2022: $5,324,9612022Revenue 2025: $12,964,592Expenses 2025: $12,921,620Net Income 2025: $42,9722025

Highlighted filing

2017

Revenue$5,178,179
Expenses$5,505,832
Net Income-$327,653
Open 2017 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2016 to Jun 30, 2017
Signed
Jan 25, 2018
Return Version
2016v3.0
Gross Receipts
$5,178,179
Mission and Program Overview

Mission

To provide a high quality, academically rigorous education for the college bound scholar. We empower our scholars to think critically, assume social responsibility, and serve as advocates from themselves and the community.

The Prep Schools mission is to seek to provide a high quality, academically rigorous education for the college bound scholar. We empower our scholars to think critically, assume social responsibility, and serve as advocates for themselves and the community.

Balance Sheet Detail
LineBeginningEndChange
Assets
Cash and Non-Interest-Bearing Accounts$753,645$516,308▼ $237,337
Accounts Receivable$299,411$383,730▲ $84,319
Land, Buildings, and Equipment, Net$320,084$303,712▼ $16,372
Pledges and Grants Receivable$14,283$46,261▲ $31,978
Prepaid Expenses and Deferred Charges$5,949$5,513▼ $436
Total Assets$2,516,026$3,102,715▲ $586,689
Other Assets Total$1,122,654$1,847,191▲ $724,537
Liabilities
Other Liabilities$6,018,299$7,160,172▲ $1,141,873
Accounts Payable and Accrued Expenses$668,459$440,928▼ $227,531
Total Liabilities$6,686,758$7,601,100▲ $914,342
Net Assets / Fund Balance
Unrestricted Net Assets$-4,170,732$-4,498,385▼ $327,653
Total Net Assets Fund Balance$-4,170,732$-4,498,385▼ $327,653
Total Liabilities and Net Assets / Fund Balance$2,516,026$3,102,715▲ $586,689

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$0$6,146-
Other Land Buildings$0--
Land$0--
Equipment$0$36,890-
Leasehold Improvements$303,712$23,737-
Other Assets Org$1,847,191--

Endowment Activity

PeriodBeginningContrib.Gain/LossOther UsesEnd
2016----$0
2015----$0
2014----$0
2013----$0
2012----$0
Compensation and Service Providers
Top Officer Pay30th percentile

Employees

NameTitleFull / Part TimeBaseTotal
Randall YatesPrincipalFT$77,820$77,820
Akida ParikhDirector of OperationsFT$49,672$49,672

Board Members and Trustees

NameTitle
Alan KopitBoard Chair
Andrew LeeBoard Member
Brad SchlangBoard Member
Danielle EisenbergBoard Member
Dennis SutcliffeBoard Member
Eric BaumgartnerBoard Member
James BradyBoard Member
Jeffrey FastBoard Member
Kristen San MarcoBoard Member
Marsha FrenchBoard Member
Sam SteinhouseBoard Member
Sean KellyBoard Member
Terrance RobinsonBoard Member
Wendy NealBoard Member
Revenue and Support

Revenue Composition

Contributions and Grants
$4,517,796
Program Service Revenue
$319,456
Investment Income
$0
Other Revenue
$340,927
All Other Contributions
$48,867
Change in Net Assets
$-327,653

Audited Revenue Reconciliation

Revenue per Audited Statements
$5,178,179
Revenue Not Reported on Financial Statements
$0
Revenue Not Reported on Form 990
$0
Total Revenue per Audited Statements
$5,178,179
Total Revenue per Form 990
$5,178,179
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$3,440,029
Other Expenses$2,065,803
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$1,949,426$321,518-$2,270,944
Fees for Services Other$677,752$199,600-$877,352
Pension Plan Contributions$646,425$106,024-$752,449
Occupancy$362,618$59,807-$422,425
Fees for Services Management$0$397,240-$397,240
Other Employee Benefits$185,090$38,302-$223,392
Current Officers, Directors, Trustees, and Key Employees$130,428$21,512-$151,940
Other Expenses$42,983$0-$42,983
Payroll Taxes$35,252$6,052-$41,304
All Other Expenses$30,830$2,942-$33,772
Information Technology$28,387$4,682-$33,069
Conferences and Meetings$23,946$0-$23,946
Insurance$16,112$2,657-$18,769
Depreciation Depletion$0$16,372-$16,372
Fees for Services Accounting$0$13,424-$13,424
Office Expenses$9,621$1,587-$11,208
Fees for Services Legal$0$1,017-$1,017
Travel$523$313-$836
Total Functional Expenses$4,309,077$1,196,755$0$5,505,832

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$5,505,832
Total Expenses per Audited Statements$5,505,832
Total Expenses per Form 990$5,505,832
Expenses Not Reported on Financial Statements$0
Expenses Not Reported on Form 990$0
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
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Net Pension Liability$7,160,172
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
Yes
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
Yes
Other officer compensation reviewed
Yes
Conflict-of-interest policy
Yes
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
Yes

Governance Explanations

Part VI, Line 19

“Documents are available upon request.”

Part VI, Line 15A/15B

“The Organization's Board of Directors determines appropriate compensation using comparability data.”

Part VI, Line 12C

“The Organization's Board and management reviews compliance with the conflicts interest policy.”

Part VI, Line 11B

“Form 990 is sent to the Finance committee of the Board for review and acceptance”

Part VI, Line 3 - Management Company

“Breakthrough Charter Schools Services: Administration, Operations, Human Resources, Student Recruitment, Information Technology Support, Finance and Accounting.”

Filing and Contact Details

Filer

Filer Name
Village Preparatory School
EIN
26-2367774
Phone
2164562070
Address
1415 East 36th Street, Cleveland, OH 44114

Signing Officer

Name
James G Zupka
Title
Partner
Signed
2018-01-25
Discuss with paid preparer
No

Organization Details

Formed
2008
Legal Domicile
Oh
Voting Board Members
14
Independent Board Members
14
Employees
73
Volunteers
128

Preparer

Firm
James G Zupka CPA Inc
Address
5240 East 98th Street, Garfield Heights, OH 44125
Preparer
James G Zupka
Phone
2164756136
Supplemental Narrative

Additional Explanations

Part IX, Line 11G

“Program Services: Professional and Technical $225597, Food Service $210056, and Pupil Transportation 242099. Management and General Expenses: Professional and Technical 199305, and Printing and Binding $295.”

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IRS990/GrossReceiptsAmt05178179
IRS990/GroupReturnForAffiliatesInd0false
IRS990/IncludeFIN48FootnoteInd0false
IRS990/IndependentAuditFinclStmtInd0true
IRS990/IndependentVotingMemberCnt014
IRS990/IndoorTanningServicesInd0false
IRS990/InfoInScheduleOPartIXInd0X
IRS990/InfoInScheduleOPartVIInd0X
IRS990/InformationTechnologyGrp/ManagementAndGeneralAmt04682
IRS990/InformationTechnologyGrp/ProgramServicesAmt028387
IRS990/InformationTechnologyGrp/TotalAmt033069
IRS990/InsuranceGrp/ManagementAndGeneralAmt02657
IRS990/InsuranceGrp/ProgramServicesAmt016112
IRS990/InsuranceGrp/TotalAmt018769
IRS990/InvestmentInJointVentureInd0false
IRS990/IRPDocumentCnt022
IRS990/IRPDocumentW2GCnt00
IRS990/LandBldgEquipAccumDeprecAmt066772
IRS990/LandBldgEquipBasisNetGrp/BOYAmt0320084
IRS990/LandBldgEquipBasisNetGrp/EOYAmt0303712
IRS990/LandBldgEquipCostOrOtherBssAmt0370484
IRS990/LegalDomicileStateCd0OH
IRS990/LoanOutstandingInd0false
IRS990/LobbyingActivitiesInd0false
IRS990/LocalChaptersInd0false
IRS990/MaterialDiversionOrMisuseInd0false
IRS990/MembersOrStockholdersInd0false
IRS990/MethodOfAccountingAccrualInd0X
IRS990/MinutesOfCommitteesInd0true
IRS990/MinutesOfGoverningBodyInd0true
IRS990/MissionDesc0The Prep Schools mission is to seek to provide a high quality, academically rigorous education for the college bound scholar. We empower our scholars to think critically, assume social responsibility, and serve as advocates for themselves and the community.
IRS990/MoreThan5000KToIndividualsInd0false
IRS990/MoreThan5000KToOrgInd0false
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IRS990/NetAssetsOrFundBalancesEOYAmt0-4498385
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IRS990/NetIncomeFromGamingGrp/TotalRevenueColumnAmt00
IRS990/NetIncomeOrLossGrp/TotalRevenueColumnAmt00
IRS990/NetUnrelatedBusTxblIncmAmt00
IRS990/NondeductibleContributionsInd0false
IRS990/OccupancyGrp/ManagementAndGeneralAmt059807
IRS990/OccupancyGrp/ProgramServicesAmt0362618
IRS990/OccupancyGrp/TotalAmt0422425
IRS990/OfficeExpensesGrp/ManagementAndGeneralAmt01587
IRS990/OfficeExpensesGrp/ProgramServicesAmt09621
IRS990/OfficeExpensesGrp/TotalAmt011208
IRS990/OfficerMailingAddressInd0false
IRS990/OperateHospitalInd0false
IRS990/Organization501c3Ind0X
IRS990/OrganizationFollowsSFAS117Ind0X
IRS990/OtherAssetsTotalGrp/BOYAmt01122654
IRS990/OtherAssetsTotalGrp/EOYAmt01847191
IRS990/OtherEmployeeBenefitsGrp/ManagementAndGeneralAmt038302
IRS990/OtherEmployeeBenefitsGrp/ProgramServicesAmt0185090
IRS990/OtherEmployeeBenefitsGrp/TotalAmt0223392
IRS990/OtherExpensesGrp/Desc0Equipment
IRS990/OtherExpensesGrp/Desc1Supplies
IRS990/OtherExpensesGrp/Desc2Repair and Maintenance
IRS990/OtherExpensesGrp/Desc3Garbage
IRS990/OtherExpensesGrp/ManagementAndGeneralAmt043
IRS990/OtherExpensesGrp/ManagementAndGeneralAmt13663
IRS990/OtherExpensesGrp/ManagementAndGeneralAmt20
IRS990/OtherExpensesGrp/ProgramServicesAmt08898
IRS990/OtherExpensesGrp/ProgramServicesAmt1103416
IRS990/OtherExpensesGrp/ProgramServicesAmt257370
IRS990/OtherExpensesGrp/ProgramServicesAmt342983
IRS990/OtherExpensesGrp/TotalAmt08898
IRS990/OtherExpensesGrp/TotalAmt1103459
IRS990/OtherExpensesGrp/TotalAmt261033
IRS990/OtherExpensesGrp/TotalAmt342983
IRS990/OtherLiabilitiesGrp/BOYAmt06018299
IRS990/OtherLiabilitiesGrp/EOYAmt07160172
IRS990/OtherRevenueMiscGrp/BusinessCd0900099
IRS990/OtherRevenueMiscGrp/Desc0Property Taxes
IRS990/OtherRevenueMiscGrp/RelatedOrExemptFuncIncomeAmt0340927
IRS990/OtherRevenueMiscGrp/TotalRevenueColumnAmt0340927
IRS990/OtherRevenueTotalAmt0340927
IRS990/OtherSalariesAndWagesGrp/ManagementAndGeneralAmt0321518
IRS990/OtherSalariesAndWagesGrp/ProgramServicesAmt01949426
IRS990/OtherSalariesAndWagesGrp/TotalAmt02270944
IRS990/PartialLiquidationInd0false
IRS990/PayPremiumsPrsnlBnftCntrctInd0false
IRS990/PayrollTaxesGrp/ManagementAndGeneralAmt06052
IRS990/PayrollTaxesGrp/ProgramServicesAmt035252
IRS990/PayrollTaxesGrp/TotalAmt041304
IRS990/PensionPlanContributionsGrp/ManagementAndGeneralAmt0106024
IRS990/PensionPlanContributionsGrp/ProgramServicesAmt0646425
IRS990/PensionPlanContributionsGrp/TotalAmt0752449
IRS990/PledgesAndGrantsReceivableGrp/BOYAmt014283
IRS990/PledgesAndGrantsReceivableGrp/EOYAmt046261
IRS990/PoliticalCampaignActyInd0false
IRS990/PrepaidExpensesDefrdChargesGrp/BOYAmt05949
IRS990/PrepaidExpensesDefrdChargesGrp/EOYAmt05513
IRS990/PrincipalOfcrBusinessName/BusinessNameLine1Txt0Randy Yates
IRS990/ProfessionalFundraisingInd0false
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IRS990/ProgramServiceRevenueGrp/Desc0Other Operating
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt0319456
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt0319456
IRS990/ProgSrvcAccomActy2Grp/ExpenseAmt0210055
IRS990/ProhibitedTaxShelterTransInd0false
IRS990/PYContributionsGrantsAmt04698615
IRS990/PYExcessBenefitTransInd0false
IRS990/PYGrantsAndSimilarPaidAmt00
IRS990/PYInvestmentIncomeAmt00
IRS990/PYOtherExpensesAmt02347756
IRS990/PYOtherRevenueAmt0382733
IRS990/PYProgramServiceRevenueAmt0253695
IRS990/PYRevenuesLessExpensesAmt0-36646
IRS990/PYSalariesCompEmpBnftPaidAmt03023933
IRS990/PYTotalExpensesAmt05371689
IRS990/PYTotalRevenueAmt05335043
IRS990/QuidProQuoContributionsInd0false
IRS990/RcvFndsToPayPrsnlBnftCntrctInd0false
IRS990/ReconcilationRevenueExpnssAmt0-327653
IRS990/RegularMonitoringEnfrcInd0true
IRS990/RelatedEntityInd0true
IRS990/RelatedOrganizationCtrlEntInd0false
IRS990/RentalIncomeOrLossGrp/PersonalAmt00
IRS990/RentalIncomeOrLossGrp/RealAmt00
IRS990/ReportInvestmentsOtherSecInd0false
IRS990/ReportLandBuildingEquipmentInd0true
IRS990/ReportOtherAssetsInd0true
IRS990/ReportOtherLiabilitiesInd0true
IRS990/ReportProgramRelatedInvstInd0false
IRS990/RevenueAmt0660383
IRS990ScheduleA/OtherSupportSumAmt00
IRS990ScheduleA/PublicSupportCY170Pct00.00000
IRS990ScheduleA/SchoolInd0X
IRS990ScheduleA/SupportSumAmt00
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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/BuildingsGrp/BookValueAmt00
IRS990ScheduleD/BuildingsGrp/DepreciationAmt06146
IRS990ScheduleD/BuildingsGrp/InvestmentCostOrOtherBasisAmt06146
IRS990ScheduleD/CYEndwmtFundGrp/EndYearBalanceAmt00
IRS990ScheduleD/CYMinus1YrEndwmtFundGrp/EndYearBalanceAmt00
IRS990ScheduleD/CYMinus2YrEndwmtFundGrp/EndYearBalanceAmt00
IRS990ScheduleD/CYMinus3YrEndwmtFundGrp/EndYearBalanceAmt00
IRS990ScheduleD/CYMinus4YrEndwmtFundGrp/EndYearBalanceAmt00
IRS990ScheduleD/EndingBalanceAmt00
IRS990ScheduleD/EquipmentGrp/BookValueAmt00
IRS990ScheduleD/EquipmentGrp/DepreciationAmt036890
IRS990ScheduleD/EquipmentGrp/InvestmentCostOrOtherBasisAmt036890
IRS990ScheduleD/ExpensesNotReportedAmt00
IRS990ScheduleD/ExpensesNotRptFinclStmtAmt00
IRS990ScheduleD/ExpensesSubtotalAmt05505832
IRS990ScheduleD/LandGrp/BookValueAmt00
IRS990ScheduleD/LeaseholdImprovementsGrp/BookValueAmt0303712
IRS990ScheduleD/LeaseholdImprovementsGrp/DepreciationAmt023737
IRS990ScheduleD/LeaseholdImprovementsGrp/InvestmentCostOrOtherBasisAmt0327449
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt01847191
IRS990ScheduleD/OtherAssetsOrgGrp/Desc0Deferred Inflow Pension
IRS990ScheduleD/OtherLandBuildingsGrp/BookValueAmt00
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt07160172
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0Net Pension Liability
IRS990ScheduleD/RevenueNotReportedAmt00
IRS990ScheduleD/RevenueNotReportedFinclStmtAmt00

Document Assets

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Filings

Displayed year

2017 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$3,102,715
Liabilities
$7,601,100
Net assets
-$4,498,385
Revenue
$5,178,179
Expenses
$5,505,832
Net income
-$327,653
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2025Facts available. Structured filing facts are available, but richer extracted sections are limited.$16.3$18.9$2.68$13.0$12.9$0.04
2022Facts available. Structured filing facts are available, but richer extracted sections are limited.$16.2$21.9$5.79$13.1$7.82$5.32
2021XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$9.06$20.2$11.1$9.60$8.13$1.47
2020XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$7.80$20.4$12.6$8.66$9.15$0.49
2019XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$3.68$6.62$2.95$5.15$4.52$0.64
2017Detailed filing. Detailed filing data is available for this year.$3.10$7.60$4.50$5.18$5.51$0.33