Form 990, Part VI, Section B, Line 11B
“The board of directors did not review the 990 before filing, but will review at their next meeting.”
990 • Fiscal year 2020 • EIN 27-0925239
Scores are not available for this record yet.
Assets
Flat$3,498,506
Flat from 2020
Net Assets
Flat$616,330
Flat from 2020
Liabilities
Flat$2,882,176
Flat from 2020
Revenue
Flat$658,377
Flat from 2020
Expenses
Flat$826,244
Flat from 2020
Net Income
Flat-$167,867
Flat from 2020
A collegiate preparatory school committed to preparing bright students who learn differently to reach their god-given potential for college and for life. We embrace creativity in learning through academics, sports, fine arts, and expanded sociability.
| Line | Beginning | End | Change |
|---|---|---|---|
| Assets | |||
| Land, Buildings, and Equipment, Net | $3,484,698 | $3,401,858 | ▼ $82,840 |
| Cash and Non-Interest-Bearing Accounts | $99,071 | $96,648 | ▼ $2,423 |
| Savings and Temporary Cash Investments | $-3,402 | - | - |
| Total Assets | $3,580,367 | $3,498,506 | ▼ $81,861 |
| Liabilities | |||
| Mortgage Notes Payable Secured by Investment Property | - | $2,729,822 | - |
| Other Liabilities | $2,731,868 | $149,900 | ▼ $2,581,968 |
| Accounts Payable and Accrued Expenses | $64,302 | $2,454 | ▼ $61,848 |
| Total Liabilities | $2,796,170 | $2,882,176 | ▲ $86,006 |
| Net Assets / Fund Balance | |||
| Net Assets Without Donor Restrictions | $784,197 | $616,330 | ▼ $167,867 |
| Total Net Assets Fund Balance | $784,197 | $616,330 | ▼ $167,867 |
| Total Liabilities and Net Assets / Fund Balance | $3,580,367 | $3,498,506 | ▼ $81,861 |
| Asset | Book Value | Depreciation | Basis |
|---|---|---|---|
| Buildings | $2,886,809 | $389,061 | $3,275,870 |
| Land | $487,076 | - | $487,076 |
| Equipment | $27,973 | $131,950 | $159,923 |
| Name | Title | Full / Part Time | Base | Total |
|---|---|---|---|---|
| Lisa Stane | President | FT | $40,385 | $40,385 |
| Donna Pettit | Vice President | PT | $29,671 | $29,671 |
| Name | Title |
|---|---|
| Nita Key | Secretary/treasurer |
| Contractor | Services | Location | Compensation |
|---|---|---|---|
| Ct Roofing | Construction | 6613 19TH STREET, Lubbock, TX 79407 | $165,478 |
| Contribution Type | Contribution Count | Reported Amount | Valuation Method |
|---|---|---|---|
| Securities Publicly Traded | 2 | $40,336 | Stock Quotes |
| Total Noncash Contributions | 2 | $40,336 | - |
| Line Item | Amount |
|---|---|
| Salaries, Compensation, and Employee Benefits | $462,213 |
| Other Expenses | $364,031 |
| Grants and Similar Amounts Paid | $0 |
| Professional Fundraising Fees | $0 |
| Total Fundraising Expense | $0 |
| Line Item | Program | Management | Fundraising | Total |
|---|---|---|---|---|
| Other Salaries and Wages | $260,948 | $86,982 | - | $347,930 |
| Interest | $114,047 | $38,016 | - | $152,063 |
| Depreciation Depletion | $85,287 | $1,529 | - | $86,816 |
| Current Officers, Directors, Trustees, and Key Employees | $52,542 | $17,514 | - | $70,056 |
| Occupancy | $25,282 | $8,427 | - | $33,709 |
| Payroll Taxes | $24,415 | $8,138 | - | $32,553 |
| Insurance | $17,641 | $5,881 | - | $23,522 |
| Office Expenses | $15,526 | $5,175 | - | $20,701 |
| Other Employee Benefits | $8,755 | $2,919 | - | $11,674 |
| Advertising | $6,049 | $2,016 | - | $8,065 |
| Fees for Services Accounting | $922 | $2,765 | - | $3,687 |
| Information Technology | $2,573 | $858 | - | $3,431 |
| Other Expenses | $759 | $2,278 | - | $3,037 |
| Conferences and Meetings | $537 | $1,610 | - | $2,147 |
| Travel | $1,021 | $340 | - | $1,361 |
| Fees for Services Other | $612 | $455 | - | $1,067 |
| All Other Expenses | $477 | - | - | $477 |
| Total Functional Expenses | $638,834 | $187,410 | $0 | $826,244 |
| Line Item | Amount |
|---|---|
| Fundraising Gross Income | $28,793 |
| Fundraising Direct Expenses | $8,260 |
| Professional Fundraising Fees | $0 |
| Event | Gross Receipts | Gross Revenue | Direct Expenses | Net Income |
|---|---|---|---|---|
| Golf Tournament | $17,613 | $17,613 | - | $17,613 |
| Casino Night | $11,180 | $11,180 | $30 | $11,150 |
| Total Events | $28,793 | $28,793 | $8,260 | $20,533 |
| Liability | Amount |
|---|---|
| Paycheck Protection Program - Sba Loan | $149,900 |
“The board of directors did not review the 990 before filing, but will review at their next meeting.”
“As soon as possible, each board member is required to disclose to the board any conflicts of interest that arise.”
“The school follows the salary trends from the other area private schools, and data from the internet for salary comparisons.”
“The school makes its governing documents, conflict of interest policy and financial statements available for public inspection. The documents are available for inspection at sharp academy's office located at 8315 indiana ave, lubbock, tx.”
“Included on line 1e is $96,700 from the paycheck program (ppp) loan and $10,000 which was the eidl non-taxable grant the organization received from the small business administration during the year ending 12/31/20. The school filed for forgiveness and this was approved. As such, per fasb-as 958-605 not-for-profit entities revenue recognition, $106,700 is being recognized as contribution income.”
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/ActivityOrMissionDesc | 0 | A COLLEGIATE PREPARATORY SCHOOL COMMITTED TO PREPARING BRIGHT STUDENTS WHO LEARN DIFFERENTLY TO REACH THEIR GOD-GIVEN POTENTIAL FOR COLLEGE AND FOR LIFE. WE EMBRACE CREATIVITY IN LEARNING THROUGH ACADEMICS, SPORTS, FINE ARTS, AND EXPANDED SOCIABILITY. |
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| IRS990/Desc | 0 | FOCUSING ON CENTRALIZING RESOURCES FOR INDIVIDUALS WITH LEARNING DIFFERENCES, INCLUDING DYSLEXIA, ADD/ADHD, DYSGRAPHIA, DYSCALCULIA, DYSPRAXIA AND PROCESSING DISORDERS. TO PROVIDE EDUCATIONAL SUPPORT TO TEACHERS, PARENTS AND STUDENTS. TO INSPIRE AND EMPOWER HOPE, BELONGING AND ACHIEVEMENT FOR ALL STUDENTS WITH A SAFETY NET OF RESOURCES. DURING 2020, APPROXIMATELY 100 STUDENTS WERE SERVED. |
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| IRS990ScheduleB/ContributorInformationGrp/TotalContributionsAmt | 0 | RESTRICTED |
| IRS990/ScheduleBRequiredInd | 0 | 1 |
| IRS990ScheduleD/BuildingsGrp/BookValueAmt | 0 | 2886809 |
| IRS990ScheduleD/BuildingsGrp/DepreciationAmt | 0 | 389061 |
| IRS990ScheduleD/BuildingsGrp/OtherCostOrOtherBasisAmt | 0 | 3275870 |
| IRS990ScheduleD/EquipmentGrp/BookValueAmt | 0 | 27973 |
| IRS990ScheduleD/EquipmentGrp/DepreciationAmt | 0 | 131950 |
| IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt | 0 | 159923 |
| IRS990ScheduleD/LandGrp/BookValueAmt | 0 | 487076 |
| IRS990ScheduleD/LandGrp/OtherCostOrOtherBasisAmt | 0 | 487076 |
| IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt | 0 | 149900 |
| IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc | 0 | PAYCHECK PROTECTION PROGRAM - SBA LOAN |
| IRS990ScheduleD/TotalBookValueLandBuildingsAmt | 0 | 3401858 |
| IRS990ScheduleD/TotalLiabilityAmt | 0 | 149900 |
| IRS990ScheduleE/ComplianceWithRevProc7550Ind | 0 | 1 |
| IRS990ScheduleE/DiscriminateRaceAdmissPlcyInd | 0 | 0 |
| IRS990ScheduleE/DiscriminateRaceAthltProgInd | 0 | 0 |
| IRS990ScheduleE/DiscriminateRaceEducPlcyInd | 0 | 0 |
| IRS990ScheduleE/DiscriminateRaceEmplmFcultyInd | 0 | 0 |
| IRS990ScheduleE/DiscriminateRaceOtherActyInd | 0 | 0 |
| IRS990ScheduleE/DiscriminateRaceSchsInd | 0 | 0 |
| IRS990ScheduleE/DiscriminateRaceStdntsRghtsInd | 0 | 0 |
| IRS990ScheduleE/DiscriminateRaceUseOfFcltsInd | 0 | 0 |
| IRS990ScheduleE/GovernmentFinancialAidRcvdInd | 0 | 0 |
| IRS990ScheduleE/GovernmentFinancialAidRvkdInd | 0 | 0 |
| IRS990ScheduleE/MaintainCpyOfAllSolInd | 0 | 1 |
| IRS990ScheduleE/MaintainCpyOfBrochuresEtcInd | 0 | 1 |
| IRS990ScheduleE/MaintainRacialCompRecsInd | 0 | 1 |
| IRS990ScheduleE/MaintainScholarshipsRecsInd | 0 | 1 |
| IRS990ScheduleE/NondiscriminatoryPolicyStmtInd | 0 | 1 |
| IRS990ScheduleE/PlcyPblczdViaBroadcastMediaInd | 0 | 1 |
| IRS990ScheduleE/PolicyStmtInBrochuresEtcInd | 0 | 1 |
| IRS990ScheduleE/SupplementalInformationDetail/ExplanationTxt | 0 | SHARP ACADEMY'S NONDISCRIMINATORY POLICY FOR STUDENTS AND STAFF, OR ANYONE IN THE COMMUNITY NEEDING THE SERVICES OF OUR ORGANIZATION, ARE PUBLISHED ON ALL PRINTED MARKETING MATERIAL, APPLICATIONS, SCHOLARSHIPS, DONOR SOLICITATIONS, AND THE SCHOOLS WEBSITE. |
| IRS990ScheduleE/SupplementalInformationDetail/FormAndLineReferenceDesc | 0 | SCHEDULE E, PART I, LINE 3 |
| IRS990ScheduleG/FundraisingEventInformationGrp/CashPrizesEvent1Amt | 0 | 2980 |
| IRS990ScheduleG/FundraisingEventInformationGrp/CashPrizesTotalEventsAmt | 0 | 2980 |
| IRS990ScheduleG/FundraisingEventInformationGrp/DirectExpenseSummaryEventsAmt | 0 | 8260 |
| IRS990ScheduleG/FundraisingEventInformationGrp/EntertainmentEvent2Amt | 0 | 2000 |
| IRS990ScheduleG/FundraisingEventInformationGrp/EntertainmentTotalEventsAmt | 0 | 2000 |
| IRS990ScheduleG/FundraisingEventInformationGrp/Event1Nm | 0 | GOLF TOURNAMENT |
| IRS990ScheduleG/FundraisingEventInformationGrp/Event2Nm | 0 | CASINO NIGHT |
| IRS990ScheduleG/FundraisingEventInformationGrp/FoodAndBeverageEvent2Amt | 0 | 650 |
| IRS990ScheduleG/FundraisingEventInformationGrp/FoodAndBeverageTotalEventsAmt | 0 | 650 |
| IRS990ScheduleG/FundraisingEventInformationGrp/GrossReceiptsEvent1Amt | 0 | 17613 |
| IRS990ScheduleG/FundraisingEventInformationGrp/GrossReceiptsEvent2Amt | 0 | 11180 |
| IRS990ScheduleG/FundraisingEventInformationGrp/GrossReceiptsTotalAmt | 0 | 28793 |
| IRS990ScheduleG/FundraisingEventInformationGrp/GrossRevenueEvent1Amt | 0 | 17613 |
| IRS990ScheduleG/FundraisingEventInformationGrp/GrossRevenueEvent2Amt | 0 | 11180 |
| IRS990ScheduleG/FundraisingEventInformationGrp/GrossRevenueTotalEventsAmt | 0 | 28793 |
| IRS990ScheduleG/FundraisingEventInformationGrp/NetIncomeSummaryAmt | 0 | 20533 |
| IRS990ScheduleG/FundraisingEventInformationGrp/OthDirectExpnssTotalEventsAmt | 0 | 30 |
| IRS990ScheduleG/FundraisingEventInformationGrp/OtherDirectExpensesEvent2Amt | 0 | 30 |
| IRS990ScheduleG/FundraisingEventInformationGrp/RentFacilityCostsEvent1Amt | 0 | 2600 |
| IRS990ScheduleG/FundraisingEventInformationGrp/RentFcltyCostsTotalEventsAmt | 0 | 2600 |
| IRS990/ScheduleJRequiredInd | 0 | 0 |
| IRS990ScheduleM/AnyPropertyThatMustBeHeldInd | 0 | 0 |
| IRS990ScheduleM/ReviewProcessUnusualNCGiftsInd | 0 | 0 |
| IRS990ScheduleM/SecuritiesPubliclyTradedGrp/ContributionCnt | 0 | 2 |
| IRS990ScheduleM/SecuritiesPubliclyTradedGrp/MethodOfDeterminingRevenuesTxt | 0 | STOCK QUOTES |
| IRS990ScheduleM/SecuritiesPubliclyTradedGrp/NonCashCheckboxInd | 0 | X |
| IRS990ScheduleM/SecuritiesPubliclyTradedGrp/NoncashContributionsRptF990Amt | 0 | 40336 |
| IRS990ScheduleM/ThirdPartiesUsedInd | 0 | 0 |
| IRS990/ScheduleORequiredInd | 0 | 1 |
| IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt | 0 | THE BOARD OF DIRECTORS DID NOT REVIEW THE 990 BEFORE FILING, BUT WILL REVIEW AT THEIR NEXT MEETING. |
| IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt | 1 | AS SOON AS POSSIBLE, EACH BOARD MEMBER IS REQUIRED TO DISCLOSE TO THE BOARD ANY CONFLICTS OF INTEREST THAT ARISE. |
| IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt | 2 | THE SCHOOL FOLLOWS THE SALARY TRENDS FROM THE OTHER AREA PRIVATE SCHOOLS, AND DATA FROM THE INTERNET FOR SALARY COMPARISONS. |
| IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt | 3 | THE SCHOOL MAKES ITS GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY AND FINANCIAL STATEMENTS AVAILABLE FOR PUBLIC INSPECTION. THE DOCUMENTS ARE AVAILABLE FOR INSPECTION AT SHARP ACADEMY'S OFFICE LOCATED AT 8315 INDIANA AVE, LUBBOCK, TX. |
| IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt | 4 | INCLUDED ON LINE 1E IS $96,700 FROM THE PAYCHECK PROGRAM (PPP) LOAN AND $10,000 WHICH WAS THE EIDL NON-TAXABLE GRANT THE ORGANIZATION RECEIVED FROM THE SMALL BUSINESS ADMINISTRATION DURING THE YEAR ENDING 12/31/20. THE SCHOOL FILED FOR FORGIVENESS AND THIS WAS APPROVED. AS SUCH, PER FASB-AS 958-605 NOT-FOR-PROFIT ENTITIES REVENUE RECOGNITION, $106,700 IS BEING RECOGNIZED AS CONTRIBUTION INCOME. |
| IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc | 0 | FORM 990, PART VI, SECTION B, LINE 11B |
| IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc | 1 | FORM 990, PART VI, SECTION B, LINE 12C |
| IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc | 2 | FORM 990, PART VI, SECTION B, LINE 15B |
| IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc | 3 | FORM 990, PART VI, SECTION C, LINE 19 |
| IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc | 4 | FORM 990, PAGE 9, PART VIII, LINE 1E |
| IRS990/SchoolOperatingInd | 0 | 1 |
| IRS990/SignificantChangeInd | 0 | 0 |
| IRS990/SignificantNewProgramSrvcInd | 0 | 0 |
| IRS990/SubjectToExcsTaxNetInvstIncInd | 0 | 0 |
| IRS990/SubjectToProxyTaxInd | 0 | 0 |
| IRS990/SubjToTaxRmnrtnExPrchtPymtInd | 0 | 0 |
| IRS990/TaxablePartyNotificationInd | 0 | 0 |
| IRS990/TaxExemptBondsInd | 0 | 0 |
| IRS990/TerminateOperationsInd | 0 | 0 |
| IRS990/TotalAssetsBOYAmt | 0 | 3580367 |
| IRS990/TotalAssetsEOYAmt | 0 | 3498506 |
| IRS990/TotalAssetsGrp/BOYAmt | 0 | 3580367 |
| IRS990/TotalAssetsGrp/EOYAmt | 0 | 3498506 |
| IRS990/TotalCompGreaterThan150KInd | 0 | 0 |
| IRS990/TotalContributionsAmt | 0 | 198919 |
| IRS990/TotalEmployeeCnt | 0 | 24 |
| IRS990/TotalFunctionalExpensesGrp/FundraisingAmt | 0 | 0 |
| IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt | 0 | 187410 |
| IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt | 0 | 638834 |
| IRS990/TotalFunctionalExpensesGrp/TotalAmt | 0 | 826244 |
| IRS990/TotalGrossUBIAmt | 0 | 0 |
| IRS990/TotalLiabilitiesBOYAmt | 0 | 2796170 |
| IRS990/TotalLiabilitiesEOYAmt | 0 | 2882176 |
| IRS990/TotalLiabilitiesGrp/BOYAmt | 0 | 2796170 |
| IRS990/TotalLiabilitiesGrp/EOYAmt | 0 | 2882176 |
| IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt | 0 | 784197 |
| IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt | 0 | 616330 |
| IRS990/TotalOtherCompensationAmt | 0 | 0 |
| IRS990/TotalProgramServiceExpensesAmt | 0 | 638834 |
| IRS990/TotalProgramServiceRevenueAmt | 0 | 431085 |
| IRS990/TotalReportableCompFromOrgAmt | 0 | 70056 |
| IRS990/TotalRevenueGrp/ExclusionAmt | 0 | 28373 |
| IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt | 0 | 431085 |
| IRS990/TotalRevenueGrp/TotalRevenueColumnAmt | 0 | 658377 |
| IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt | 0 | 0 |
| IRS990/TotalVolunteersCnt | 0 | 0 |
| IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt | 0 | 3580367 |
| IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt | 0 | 3498506 |
| IRS990/TotReportableCompRltdOrgAmt | 0 | 0 |
| IRS990/TravelGrp/ManagementAndGeneralAmt | 0 | 340 |
| IRS990/TravelGrp/ProgramServicesAmt | 0 | 1021 |
| IRS990/TravelGrp/TotalAmt | 0 | 1361 |
| IRS990/TrnsfrExmptNonChrtblRltdOrgInd | 0 | 0 |
| IRS990/TypeOfOrganizationCorpInd | 0 | X |
| IRS990/UnrelatedBusIncmOverLimitInd | 0 | 0 |
| IRS990/UponRequestInd | 0 | X |
| IRS990/USAddress/AddressLine1Txt | 0 | 8315 INDIANA AVE |
| IRS990/USAddress/CityNm | 0 | LUBBOCK |
| IRS990/USAddress/StateAbbreviationCd | 0 | TX |
| IRS990/USAddress/ZIPCd | 0 | 79423 |
| IRS990/VotingMembersGoverningBodyCnt | 0 | 3 |
| IRS990/VotingMembersIndependentCnt | 0 | 1 |
| IRS990/WebsiteAddressTxt | 0 | SHARPACADEMY.NET |
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Displayed year
2020 • Form 990Detailed filing. Detailed filing data is available for this year.