Civic Intelligence

Leadership Prep School

EIN 27-1616131 • 501(c)3 • Frisco, TX

Profile

The mission of leadership prep school is to equip a diverse student body with a comprehensive education, including a special focus on western civilization. Students will develop a commanding knowledge of the orgins of our liberty and the ability to sustain it through moral leadership. They aim to accomplish this goal through a high level of academic instruction and high behavioral expectations.

8100 Teel ParkwayFrisco, TX 75034

www.lpsfrisco.com

Siviq Scores

Precomputed percentiles relative to similar nonprofits. These scores are descriptive rather than judgmental.

Liabilities / Assets

87th percentile

0.83x

Higher debt load relative to assets than 87% of similar nonprofits.

501(c)3 • $50M-$100M nonprofits • Source year 2025

Liabilities / Revenue

89th percentile

2.88x

Higher debt load relative to revenue than 89% of similar nonprofits.

501(c)3 • $50M-$100M nonprofits • Source year 2025

Net Margin

61st percentile

9.1%

Higher net margin than 61% of similar nonprofits.

501(c)3 • $50M-$100M nonprofits • Source year 2025

Top Officer Pay

19th percentile

$196,005

Higher top officer pay than 19% of similar nonprofits.

Top officer pay equals 1.2% of source-year revenue.

501(c)3 • $50M-$100M nonprofits • Source year 2025

Asset Growth

98th percentile

90%

Faster asset growth than 98% of similar nonprofits.

501(c)3 • $50M-$100M nonprofits • Annualized from 2024 to 2025

Revenue Growth

67th percentile

17%

Faster revenue growth than 67% of similar nonprofits.

501(c)3 • $50M-$100M nonprofits • Annualized from 2024 to 2025

Balance Sheet
Liabilities / Assets87th percentile

Assets

Down

$24,409,285

Down $957,841 (-3.8%) from 2021

Liabilities

Down

$17,638,214

Down $1,493,667 (-7.8%) from 2021

Net Assets

Up

$6,771,071

Up $535,826 (+8.6%) from 2021

Operations
Liabilities / Revenue89th percentileNet Margin61st percentile

Revenue

Up

$12,471,078

Up $221,304 (+1.8%) from 2021

Expenses

Up

$11,935,252

Up $1,484,275 (+14%) from 2021

Net Income

Down

$535,826

Down $1,262,971 (-70%) from 2021

Trend Graphs

Balance Sheet Trend

Asset Growth98th percentile

Grouped bars show assets, liabilities, and net assets across loaded filings.

$30M$20M$10M$0Assets 2013: $724,786Liabilities 2013: $103,139Net Assets 2013: $621,6472013Assets 2014: $962,710Liabilities 2014: $124,537Net Assets 2014: $838,1732014Assets 2015: $4,059,949Liabilities 2015: $2,740,289Net Assets 2015: $1,319,6602015Assets 2017: $24,157,761Liabilities 2017: $21,892,827Net Assets 2017: $2,264,9342017Assets 2018: $22,193,966Liabilities 2018: $19,696,547Net Assets 2018: $2,497,4192018Assets 2019: $22,301,989Liabilities 2019: $18,895,887Net Assets 2019: $3,406,1022019Assets 2021: $25,367,126Liabilities 2021: $19,131,881Net Assets 2021: $6,235,2452021Assets 2022: $24,409,285Liabilities 2022: $17,638,214Net Assets 2022: $6,771,0712022

Highlighted filing

2022

Assets$24,409,285
Liabilities$17,638,214
Net Assets$6,771,071
Open 2022 Filing

Operations Trend

Revenue Growth67th percentile

Revenue, expenses, and net income by year, with the latest filing highlighted.

$15M$10M$5.0M$0Expenses 2013: $2,335,5662013Revenue 2014: $3,164,225Expenses 2014: $2,947,699Net Income 2014: $216,5262014Revenue 2015: $3,881,992Expenses 2015: $3,400,505Net Income 2015: $481,4872015Revenue 2017: $7,006,455Expenses 2017: $6,789,195Net Income 2017: $217,2602017Revenue 2018: $9,220,436Expenses 2018: $8,987,951Net Income 2018: $232,4852018Revenue 2019: $10,881,432Expenses 2019: $9,972,749Net Income 2019: $908,6832019Revenue 2021: $12,249,774Expenses 2021: $10,450,977Net Income 2021: $1,798,7972021Revenue 2022: $12,471,078Expenses 2022: $11,935,252Net Income 2022: $535,8262022

Highlighted filing

2022

Revenue$12,471,078
Expenses$11,935,252
Net Income$535,826
Open 2022 Filing

Filings

Most recent year

2022 • Form 990XML pending. An XML filing is linked for this year, but detailed extraction is still pending.

Open filing
Assets
$24,409,285
Liabilities
$17,638,214
Net assets
$6,771,071
Revenue
$12,471,078
Expenses
$11,935,252
Net income
$535,826
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2022XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$24.4$17.6$6.77$12.5$11.9$0.54
2021Facts available. Structured filing facts are available, but richer extracted sections are limited.$25.4$19.1$6.24$12.2$10.5$1.80
2019XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$22.3$18.9$3.41$10.9$9.97$0.91
2018XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$22.2$19.7$2.50$9.22$8.99$0.23
2017Facts available. Structured filing facts are available, but richer extracted sections are limited.$24.2$21.9$2.26$7.01$6.79$0.22
2015Detailed filing. Detailed filing data is available for this year.$4.06$2.74$1.32$3.88$3.40$0.48
2014Detailed filing. Detailed filing data is available for this year.$0.96$0.12$0.84$3.16$2.95$0.22
2013Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.72$0.10$0.62$2.34
Latest Detailed Filing

The latest 2022 filing currently has linked XML that has not been fully parsed yet. Showing the latest detailed filing from 2021 below.

Jump To
Filing Snapshot
Filing Period
Jul 1, 2020 to Jun 30, 2021
Signed
Feb 17, 2022
Return Version
2020v4.0
Gross Receipts
$12,249,774
Mission and Program Overview

Mission

The mission of lps is to inspire students to learn, grow, and lead for a lifetime. The acronym p.l.a.c.e. Summarizes the five key areas that have been selected as the focus of lps' vision: parent partnership, leadership development, academics, creativity, and excellence.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$15,796,840$15,296,122▼ $500,718
Cash and Non-Interest-Bearing Accounts$5,587,708$7,898,349▲ $2,310,641
Accounts Receivable$1,613,751$1,752,555▲ $138,804
Savings and Temporary Cash Investments$216,527$216,530▲ $3
Prepaid Expenses and Deferred Charges$236,551$203,570▼ $32,981
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$23,451,377$25,367,126▲ $1,915,749
Other Assets Total-$0-
Liabilities
Tax Exempt Bond Liabilities$17,902,193$17,548,083▼ $354,110
Accounts Payable and Accrued Expenses$919,725$1,043,070▲ $123,345
Other Liabilities$45,648$411,128▲ $365,480
Deferred Revenue$147,363$129,600▼ $17,763
Total Liabilities$19,014,929$19,131,881▲ $116,952
Net Assets / Fund Balance
Net Assets With Donor Restrictions$4,095,184$5,919,962▲ $1,824,778
Net Assets Without Donor Restrictions$341,264$315,283▼ $25,981
Total Net Assets Fund Balance$4,436,448$6,235,245▲ $1,798,797
Total Liabilities and Net Assets / Fund Balance$23,451,377$25,367,126▲ $1,915,749

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$12,178,211$1,566,520$13,744,731
Land$2,444,593-$2,444,593
Equipment$673,318$888,802$1,562,120
Compensation and Service Providers
Top Officer Pay19th percentile

Employees

NameTitleFull / Part TimeBaseOtherTotal
Stacy AltonSuperintendentFT$152,633$20,000$172,633

Board Members and Trustees

NameTitle
Sheila CraftPresident
David StroudBoard Member
Jacob MakuvireBoard Member
Scott ArmendarizSecretary
Mark RenfroTreasurer

Highest Paid Contractors

ContractorServicesLocationCompensation
Elevate Life ChurchJanitorial & Maint.8500 TEEL PARKWAY, Frisco, TX 75034$114,933
Revenue and Support

Revenue Composition

Contributions and Grants
$12,124,739
Program Service Revenue
$124,881
Investment Income
$154
Other Revenue
$0
All Other Contributions
$13,586
Change in Net Assets
$1,798,797

Audited Revenue Reconciliation

Revenue per Audited Statements
$12,249,774
Total Revenue per Audited Statements
$12,249,774
Total Revenue per Form 990
$12,249,774
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$6,574,136
Other Expenses$3,876,841
Total Fundraising Expense$160
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$5,450,434$276,883-$5,727,317
Fees for Services Other$1,286,610$70,997$160$1,357,767
Interest$877,551--$877,551
Depreciation Depletion$781,532--$781,532
Other Employee Benefits$338,476$21,067-$359,543
Pension Plan Contributions$215,062$17,067-$232,129
Current Officers, Directors, Trustees, and Key Employees-$167,967-$167,967
Information Technology$159,606$2,935-$162,541
Payroll Taxes$80,872$6,308-$87,180
Insurance$39,130--$39,130
Travel$35,590$3,399-$38,989
Other Expenses$33,545$1,520-$35,065
Fees for Services Accounting-$22,500-$22,500
Fees for Services Legal-$12,940-$12,940
Total Functional Expenses$9,817,263$633,554$160$10,450,977

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$10,450,977
Total Expenses per Audited Statements$10,450,977
Total Expenses per Form 990$10,450,977
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

Interested-Person Transactions

Interested PartyRelationshipDescriptionShared RevenueAmount
S Craft D StroudBoard MembersFacility LeaseNo$959,376

Loans and Receivables

Line ItemBeginningEndChange
Receivables from Disqualified Persons-$0-
Receivables from Officers, Directors, Trustees, and Key Employees-$0-
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Bonds Payable$375,000
Capital Lease Obligation$36,128

Bond Issues

BondIssuerIssuedIssue PricePurpose
AArl Higher Ed Fin Corp2016-09-08$18,710,000BUILDING CONSTRUCTION

Bond Proceeds

BondTotal ProceedsSpentRetiredIssuance Costs
A$19,089,506$17,713,580$785,000$381,790

Bond Financing Compliance

Rebate not yet due
Yes
Form 8038-T filed
No
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 35% controlled entity
No
Business relationship with family members
No
Business relationship with organization members
Yes
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
No

Governance Explanations

Form 990, Part VI, Line 2: Description of Business or Family Relationship of Officers, Directors, Et

“Sheila craft and david stroud-business relationship.”

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

“The superintendent, business manager and contract cfo review the form 990 prior to filing.”

Form 990, Part VI, Line 15A: Compensation Review & Approval Process - CEO, Top Management

“The organization uses comparability data to determine compensation for the organization's top management official. Approval of the ceo's compensation is documented in closed session minutes and then made available to the public via at-will-agreement posted to the website.”

Form 990, Part VI, Line 15B: Compensation Review and Approval Process for Officers and Key Employees

“The organization uses comparability data to determine compensation of key employees of the organization.”

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

“Governing documents, financial statements and the filed form 990 are available upon request. In addition, the financial statements are available on the website.”

Filing and Contact Details

Filer

Filer Name
Leadership Prep School
EIN
27-1616131
Phone
9723703650
Address
8100 TEEL PARKWAY, FRISCO, TX 75034

Signing Officer

Name
Stacy Alton
Title
Superintendent
Signed
2022-02-17
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Stacy Alton
Formed
2010
Legal Domicile
TX
Voting Board Members
5
Independent Board Members
5
Employees
162
Volunteers
100

Preparer

Firm
Sutton Frost Cary LLP
Address
600 Six Flags Dr Suite 600, Arlington, TX 76011
Preparer
Carroll Elizabeth Arnott
Phone
8176498083
Supplemental Narrative

Financial Statement Notes

Part X : FIN48 Footnote

“The School is a nonprofit organization exempt from federal income taxes under Section 501(c)(3) of the Internal Revenue Code (Code) except to the extent it has unrelated business income. The School had no unrelated business income for the year ended June 30, 2021. Accordingly, no provision has been made for federal income tax. GAAP requires the evaluation of tax positions taken in the course of preparing the Schools tax returns and recognition of a tax liability (or asset) if the School has taken an uncertain position that more likely than not would not be sustained upon examination by the Internal Revenue Service. Management has analyzed the tax positions taken by the School, and has concluded that as of June 30, 2021, there are no uncertain tax positions taken or expected to be taken.”

Raw XML AppendixShowing 400 of 525 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.

Path#Value
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IRS990/AccountsReceivableGrp/EOYAmt01752555
IRS990/ActivitiesConductedPrtshpInd0false
IRS990/ActivityOrMissionDesc0THE MISSION OF LPS IS TO INSPIRE STUDENTS TO LEARN, GROW, AND LEAD FOR A LIFETIME. THE ACRONYM P.L.A.C.E. SUMMARIZES THE FIVE KEY AREAS THAT HAVE BEEN SELECTED AS THE FOCUS OF LPS' VISION: PARENT PARTNERSHIP, LEADERSHIP DEVELOPMENT, ACADEMICS, CREATIVITY, AND EXCELLENCE.
IRS990/AdvertisingGrp/TotalAmt00
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IRS990/BooksInCareOfDetail/USAddress/CityNm0FRISCO
IRS990/BooksInCareOfDetail/USAddress/StateAbbreviationCd0TX
IRS990/BooksInCareOfDetail/USAddress/ZIPCd075034
IRS990/BusinessRlnWith35CtrlEntInd0false
IRS990/BusinessRlnWithFamMemInd0false
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IRS990/CashNonInterestBearingGrp/EOYAmt07898349
IRS990/ChangeToOrgDocumentsInd0false
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IRS990/ContractorCompensationGrp/ContractorName/BusinessName/BusinessNameLine1Txt0ELEVATE LIFE CHURCH
IRS990/ContractorCompensationGrp/ServicesDesc0JANITORIAL & MAINT.
IRS990/CreditCounselingInd0false
IRS990/CYBenefitsPaidToMembersAmt00
IRS990/CYContributionsGrantsAmt012124739
IRS990/CYGrantsAndSimilarPaidAmt00
IRS990/CYInvestmentIncomeAmt0154
IRS990/CYOtherExpensesAmt03876841
IRS990/CYOtherRevenueAmt00
IRS990/CYProgramServiceRevenueAmt0124881
IRS990/CYRevenuesLessExpensesAmt01798797
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IRS990/CYTotalExpensesAmt010450977
IRS990/CYTotalFundraisingExpenseAmt0160
IRS990/CYTotalProfFndrsngExpnsAmt00
IRS990/CYTotalRevenueAmt012249774
IRS990/DecisionsSubjectToApprovaInd0false
IRS990/DeductibleArtContributionInd0false
IRS990/DeductibleNonCashContriInd0false
IRS990/DeferredRevenueGrp/BOYAmt0147363
IRS990/DeferredRevenueGrp/EOYAmt0129600
IRS990/DelegationOfMgmtDutiesInd0false
IRS990/DepreciationDepletionGrp/ProgramServicesAmt0781532
IRS990/DepreciationDepletionGrp/TotalAmt0781532
IRS990/Desc0LEADERSHIP PREP SCHOOL (LPS) IS AN OPEN ENROLLMENT CHARTER SCHOOL EDUCATING STUDENTS FROM KINDERGARTEN THROUGH TWELFTH GRADE. LPS HAS A SPECIAL FOCUS ON LEADERSHIP DEVELOPMENT WITH A HIGH LEVEL OF ACADEMIC INSTRUCTION.
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IRS990/FeesForServicesManagementGrp/TotalAmt00
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IRS990/ForeignActivitiesInd0false
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IRS990/Form990PartVIISectionAGrp/PersonNm1SHEILA CRAFT
IRS990/Form990PartVIISectionAGrp/PersonNm2DAVID STROUD
IRS990/Form990PartVIISectionAGrp/PersonNm3MARK RENFRO
IRS990/Form990PartVIISectionAGrp/PersonNm4JACOB MAKUVIRE
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IRS990/Form990PartVIISectionAGrp/TitleTxt0SUPERINTENDENT
IRS990/Form990PartVIISectionAGrp/TitleTxt1President
IRS990/Form990PartVIISectionAGrp/TitleTxt2BOARD MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt3Treasurer
IRS990/Form990PartVIISectionAGrp/TitleTxt4BOARD MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt5Secretary
IRS990/Form990ProvidedToGvrnBodyInd0true
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IRS990/FSAuditedBasisGrp/SeparateBasisFinclStmtInd0X
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IRS990/MissionDesc0THE MISSION OF LPS IS TO INSPIRE STUDENTS TO LEARN, GROW, AND LEAD FOR A LIFETIME. THE ACRONYM P.L.A.C.E. SUMMARIZES THE FIVE KEY AREAS THAT HAVE BEEN SELECTED AS THE FOCUS OF LPS' VISION: PARENT PARTNERSHIP, LEADERSHIP DEVELOPMENT, ACADEMICS, CREATIVITY, AND EXCELLENCE.
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IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0The School is a nonprofit organization exempt from federal income taxes under Section 501(c)(3) of the Internal Revenue Code (Code) except to the extent it has unrelated business income. The School had no unrelated business income for the year ended June 30, 2021. Accordingly, no provision has been made for federal income tax. GAAP requires the evaluation of tax positions taken in the course of preparing the Schools tax returns and recognition of a tax liability (or asset) if the School has taken an uncertain position that more likely than not would not be sustained upon examination by the Internal Revenue Service. Management has analyzed the tax positions taken by the School, and has concluded that as of June 30, 2021, there are no uncertain tax positions taken or expected to be taken.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0Part X : FIN48 Footnote
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IRS990ScheduleE/SupplementalInformationDetail/ExplanationTxt0THE FOLLOWING IS PRINTED ON THE REGISTRATION MATERIALS:LEADERSHIP PREP SCHOOL DOES NOT DISCRIMINATE IN ADMISSIONS BASED ON GENDER; NATIONAL ORIGIN; ETHNICITY; RELIGION; DISABILITY; ACADEMIC, ARTISTIC OR ATHLETIC ABILITY; OR THE DISTRICT THE CHILD WOULD OTHERWISE ATTEND.
IRS990ScheduleE/SupplementalInformationDetail/ExplanationTxt1THE SCHOOL RECEIVES GOVERNMENTAL SUPPORT THROUGH STATE AND FEDERAL PROGRAMS WHICH PROVIDE FOR REIMBURSEMENT OF EXPENDITURES BASED ON STUDENT ENROLLMENT.
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
IRS990ScheduleE/SupplementalInformationDetail/FormAndLineReferenceDesc3Schedule E, Line 6 - Explanation of Aid or Assistance from Governmental Agency
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IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/PersonNm0STACY ALTON
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TitleTxt0SUPERINTENDENT
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IRS990ScheduleK/SupplementalInformationDetail/ExplanationTxt0In August 2016, the School completed a transaction in which the Arlington Higher Education Finance Corporation (Issuer) issued $18,710,000 Education Revenue Bonds Series 2016A and $640,000 Education Revenue Bonds Taxable Series 2016B and loaned the proceeds of the bonds to the School. The School used the bond proceeds for the construction and equipping of a new education facility at 8100 Teel Parkway in Frisco, Texas, pay debt issuance costs and pay off existing debt.The difference between the issue price reported in Part I, Column (c) differs from the bond proceeds reported on line 3 due to the bond premium.
IRS990ScheduleK/SupplementalInformationDetail/FormAndLineReferenceDesc0Part VI
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IRS990ScheduleK/TaxExemptBondsIssuesGrp/IssuerName/BusinessNameLine1Txt0ARL HIGHER ED FIN CORP

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