Civic Intelligence

Leadership Prep School

990 • Fiscal year 2022 • EIN 27-1616131

Jul 01, 2021 to Jun 30, 2022 • Filed on Mar 28, 2023

Organization ProfileWWW.LPSFRISCO.COM
8100 Teel ParkwayFrisco, TX 75034

(972) 370-3650

Siviq Scores

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

Liabilities / Assets

85th percentile

0.72x

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

2022 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2022

Liabilities / Revenue

84th percentile

1.41x

Higher debt load relative to revenue than 84% of similar nonprofits.

2022 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2022

Net Margin

44th percentile

4.3%

Higher net margin than 44% of similar nonprofits.

2022 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2022

Top Officer Pay

51st percentile

$179,875

Higher top officer pay than 51% of similar nonprofits.

Top officer pay equals 1.4% of source-year revenue.

2022 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2022

Asset Growth

35th percentile

-3.8%

Faster asset growth than 35% of similar nonprofits.

2022 filings • 501(c)3 • $10M-$25M nonprofits • Annualized from 2021 to 2022

Revenue Growth

46th percentile

1.8%

Faster revenue growth than 46% of similar nonprofits.

2022 filings • 501(c)3 • $10M-$25M nonprofits • Annualized from 2021 to 2022

Balance Sheet
Liabilities / Assets85th percentile

Assets

Down

$24,409,285

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

Net Assets

Up

$6,771,071

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

Liabilities

Down

$17,638,214

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

Revenue And Expenses
Liabilities / Revenue84th percentileNet Margin44th 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

Historical Trend

Balance Sheet Trend

Asset Growth35th percentile

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

$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 Growth46th percentile

Revenue, expenses, and net income across loaded years, with this 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
Jump To
Filing Snapshot
Filing Period
Jul 1, 2021 to Jun 30, 2022
Signed
Mar 28, 2023
Return Version
2021v4.1
Gross Receipts
$12,471,078
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$15,296,122$14,718,174▼ $577,948
Cash and Non-Interest-Bearing Accounts$7,898,349$7,220,134▼ $678,215
Accounts Receivable$1,752,555$2,079,305▲ $326,750
Savings and Temporary Cash Investments$216,530$216,531▲ $1
Prepaid Expenses and Deferred Charges$203,570$175,141▼ $28,429
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$25,367,126$24,409,285▼ $957,841
Other Assets Total-$0-
Liabilities
Tax Exempt Bond Liabilities$17,923,083$16,498,751▼ $1,424,332
Accounts Payable and Accrued Expenses$1,043,070$958,103▼ $84,967
Deferred Revenue$129,600$155,333▲ $25,733
Other Liabilities$36,128$26,027▼ $10,101
Total Liabilities$19,131,881$17,638,214▼ $1,493,667
Net Assets / Fund Balance
Net Assets With Donor Restrictions$5,919,962$6,430,195▲ $510,233
Net Assets Without Donor Restrictions$315,283$340,876▲ $25,593
Total Net Assets Fund Balance$6,235,245$6,771,071▲ $535,826
Total Liabilities and Net Assets / Fund Balance$25,367,126$24,409,285▼ $957,841

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$11,810,698$1,979,655$13,790,353
Land$2,444,593-$2,444,593
Equipment$462,883$1,149,223$1,612,106
Compensation and Service Providers
Top Officer Pay51st percentile

Employees

NameTitleFull / Part TimeBaseOtherTotal
Stacy AltonSuperintendentFT$157,375$22,500$179,875

Board Members and Trustees

NameTitle
Sheila CraftPresident
David StroudBoard Member
Jacob MakuvireBoard Member
Jennifer BarkerBoard Member
Marnie NelsonBoard Member
Scott ArmendarizSecretary
Mark RenfroTreasurer

Highest Paid Contractors

ContractorServicesLocationCompensation
staples incOffice Equip/supplies500 staples dr, Framingham, MA 01702$110,709
Revenue and Support

Revenue Composition

Contributions and Grants
$12,106,163
Program Service Revenue
$364,538
Investment Income
$377
Other Revenue
$0
All Other Contributions
$28,882
Change in Net Assets
$535,826

Audited Revenue Reconciliation

Revenue per Audited Statements
$12,471,078
Total Revenue per Audited Statements
$12,471,078
Total Revenue per Form 990
$12,471,078
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$7,329,137
Other Expenses$4,606,115
Total Fundraising Expense$16,247
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$5,881,090$427,401$16,007$6,324,498
Occupancy$1,047,802--$1,047,802
Interest$922,793$102,532-$1,025,325
Fees for Services Other$351,257$341,106$120$692,483
Depreciation Depletion$673,557--$673,557
Other Employee Benefits$386,570$50,900-$437,470
Pension Plan Contributions$254,858$27,359-$282,217
Travel$185,880$11,203-$197,083
Current Officers, Directors, Trustees, and Key Employees-$182,198-$182,198
Payroll Taxes$92,173$10,581-$102,754
Insurance$50,626$9,955-$60,581
Fees for Services Legal-$38,313-$38,313
Other Expenses$34,731$19,076$120$34,731
Fees for Services Accounting-$24,750-$24,750
Total Functional Expenses$10,573,727$1,345,278$16,247$11,935,252

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$11,935,252
Total Expenses per Audited Statements$11,935,252
Total Expenses per Form 990$11,935,252
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
Capital Lease Obligation$26,027

Bond Issues

BondIssuerIssuedIssue PricePurpose
AArl Higher Ed Fin Corp2016-09-08$18,710,000BUILDING CONSTRUCTION
BArl Higher Ed Fin Corp2021-12-15$16,295,000REFINANCE DEBT

Bond Proceeds

BondTotal ProceedsSpentRetiredIssuance Costs
A$19,089,506$17,713,580$18,710,000$381,790
B$16,710,000$16,710,000-$661,164

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
2023-03-28
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Stacy Alton
Formed
2010
Legal Domicile
TX
Voting Board Members
7
Independent Board Members
7
Employees
178
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, 2022. 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, 2022, there are no uncertain tax positions taken or expected to be taken.”

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IRS990/MembersOrStockholdersInd0false
IRS990/MethodOfAccountingAccrualInd0X
IRS990/MinutesOfCommitteesInd0false
IRS990/MinutesOfGoverningBodyInd0true
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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IRS990/MoreThan5000KToOrgInd0false
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IRS990/NetAssetsOrFundBalancesEOYAmt06771071
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IRS990/NetIncomeOrLossGrp/TotalRevenueColumnAmt00
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IRS990/NoDonorRestrictionNetAssetsGrp/EOYAmt0340876
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IRS990/OccupancyGrp/TotalAmt01047802
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IRS990/OperateHospitalInd0false
IRS990/Organization501c3Ind0X
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IRS990/OtherExpensesGrp/Desc0SUPPLIES & MATERIALS
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IRS990/OtherExpensesGrp/ManagementAndGeneralAmt099904
IRS990/OtherExpensesGrp/ManagementAndGeneralAmt119076
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IRS990/OtherExpensesGrp/ProgramServicesAmt1101313
IRS990/OtherExpensesGrp/ProgramServicesAmt234731
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IRS990/OtherExpensesGrp/TotalAmt1120509
IRS990/OtherExpensesGrp/TotalAmt234731
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IRS990/PayrollTaxesGrp/TotalAmt0102754
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IRS990/PensionPlanContributionsGrp/ProgramServicesAmt0254858
IRS990/PensionPlanContributionsGrp/TotalAmt0282217
IRS990/PledgesAndGrantsReceivableGrp/EOYAmt00
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IRS990/PrepaidExpensesDefrdChargesGrp/BOYAmt0203570
IRS990/PrepaidExpensesDefrdChargesGrp/EOYAmt0175141
IRS990/PrincipalOfficerNm0STACY ALTON
IRS990/ProfessionalFundraisingInd0false
IRS990/ProgramServiceRevenueGrp/BusinessCd0611710
IRS990/ProgramServiceRevenueGrp/BusinessCd1611710
IRS990/ProgramServiceRevenueGrp/BusinessCd2611710
IRS990/ProgramServiceRevenueGrp/Desc0ATHLETIC ACTIVITIES
IRS990/ProgramServiceRevenueGrp/Desc1COCURRICULAR ACTIVITIES
IRS990/ProgramServiceRevenueGrp/Desc2OTHER LOCAL REVENUE
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IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt12465
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt2317805
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IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt12465
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt2317805
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IRS990/PYExcessBenefitTransInd0false
IRS990/PYInvestmentIncomeAmt0154
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IRS990/PYOtherExpensesAmt03876841
IRS990/PYProgramServiceRevenueAmt0124881
IRS990/PYRevenuesLessExpensesAmt01798797
IRS990/PYSalariesCompEmpBnftPaidAmt06574136
IRS990/PYTotalExpensesAmt010450977
IRS990/PYTotalRevenueAmt012249774
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IRS990/ReceivablesFromOfficersEtcGrp/EOYAmt00
IRS990/ReconcilationRevenueExpnssAmt0535826
IRS990/RegularMonitoringEnfrcInd0true
IRS990/RelatedEntityInd0false
IRS990/RelatedOrganizationCtrlEntInd0false
IRS990/ReportInvestmentsOtherSecInd0false
IRS990/ReportLandBuildingEquipmentInd0true
IRS990/ReportOtherAssetsInd0false
IRS990/ReportOtherLiabilitiesInd0true
IRS990/ReportProgramRelatedInvstInd0false
IRS990/RevenueAmt0364538
IRS990/RoyaltiesGrp/TotalAmt00
IRS990/RoyaltiesRevenueGrp/TotalRevenueColumnAmt00
IRS990/SavingsAndTempCashInvstGrp/BOYAmt0216530
IRS990/SavingsAndTempCashInvstGrp/EOYAmt0216531
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
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IRS990/ScheduleBRequiredInd0true
IRS990ScheduleD/BuildingsGrp/BookValueAmt011810698
IRS990ScheduleD/BuildingsGrp/DepreciationAmt01979655
IRS990ScheduleD/BuildingsGrp/OtherCostOrOtherBasisAmt013790353
IRS990ScheduleD/EquipmentGrp/BookValueAmt0462883
IRS990ScheduleD/EquipmentGrp/DepreciationAmt01149223
IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt01612106
IRS990ScheduleD/ExpensesSubtotalAmt011935252
IRS990ScheduleD/FootnoteTextInd0X
IRS990ScheduleD/LandGrp/BookValueAmt02444593
IRS990ScheduleD/LandGrp/OtherCostOrOtherBasisAmt02444593
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt026027
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0CAPITAL LEASE OBLIGATION
IRS990ScheduleD/RevenueSubtotalAmt012471078
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, 2022. 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, 2022, there are no uncertain tax positions taken or expected to be taken.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0Part X : FIN48 Footnote
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IRS990ScheduleD/TotalExpensesPerForm990Amt011935252
IRS990ScheduleD/TotalLiabilityAmt026027
IRS990ScheduleD/TotalRevenuePerForm990Amt012471078
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt012471078
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt011935252
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IRS990ScheduleE/DiscriminateRaceAdmissPlcyInd0false
IRS990ScheduleE/DiscriminateRaceAthltProgInd0false
IRS990ScheduleE/DiscriminateRaceEducPlcyInd0false
IRS990ScheduleE/DiscriminateRaceEmplmFcultyInd0false
IRS990ScheduleE/DiscriminateRaceOtherActyInd0false
IRS990ScheduleE/DiscriminateRaceSchsInd0false
IRS990ScheduleE/DiscriminateRaceStdntsRghtsInd0false
IRS990ScheduleE/DiscriminateRaceUseOfFcltsInd0false
IRS990ScheduleE/GovernmentFinancialAidRcvdInd0true
IRS990ScheduleE/GovernmentFinancialAidRvkdInd0false
IRS990ScheduleE/MaintainCpyOfAllSolInd0true
IRS990ScheduleE/MaintainCpyOfBrochuresEtcInd0true
IRS990ScheduleE/MaintainRacialCompRecsInd0true
IRS990ScheduleE/MaintainScholarshipsRecsInd0true
IRS990ScheduleE/NondiscriminatoryPolicyStmtInd0true
IRS990ScheduleE/PlcyPblczdViaBroadcastMediaInd0true
IRS990ScheduleE/PolicyStmtInBrochuresEtcInd0true
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/BoardOrCommitteeApprovalInd0X
IRS990ScheduleJ/CompBasedOnRevenueOfFlngOrgInd0false
IRS990ScheduleJ/CompBsdNetEarnsFlngOrgInd0false
IRS990ScheduleJ/CompBsdNetEarnsRltdOrgsInd0false
IRS990ScheduleJ/CompBsdOnRevRelatedOrgsInd0false
IRS990ScheduleJ/CompensationSurveyInd0X
IRS990ScheduleJ/EquityBasedCompArrngmInd0false
IRS990ScheduleJ/InitialContractExceptionInd0false
IRS990/ScheduleJRequiredInd0true
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IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BonusFilingOrganizationAmount022500
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/PersonNm0STACY ALTON
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TitleTxt0SUPERINTENDENT
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IRS990ScheduleJ/SeverancePaymentInd0false
IRS990ScheduleJ/SupplementalNonqualRtrPlanInd0false
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 bonds were paid in full from proceeds from the issuance of the 2021 bond series.In December 2021, the School completed a transaction in which the Arlington Higher Education Finance Corporation (AHEFC) issued $16,295,000 Education Revenue Bonds Series 2021A and $415,000 Education Revenue Bonds Taxable Series 2021B and loaned the proceeds of the bonds to the School. The School entered into a loan agreement with AHEFC for the proceeds of the bond issue, which are held by the bond trustee, Wilmington Trust, National Association. The bonds were issued as education revenue bonds, and have interest rates ranging from 1% to 4%, and are collateralized by a pledge of revenues of the School. The School is required to use the bond proceeds to refinance existing debt and pay debt issuance costs.
IRS990ScheduleK/SupplementalInformationDetail/FormAndLineReferenceDesc0Part VI
IRS990ScheduleK/TaxExemptBondsArbitrageGrp/BondReferenceCd0A

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Filings

Displayed year

2022 • Form 990Detailed filing. Detailed filing data is available for this year.

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
2022Detailed filing. Detailed filing data is available for this year.$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