Civic Intelligence

Leadership Prep School

990 • Fiscal year 2024 • EIN 27-1616131

Jul 01, 2023 to Jun 30, 2024 • Filed on Nov 20, 2024

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

0.73x

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

2024 filings • 501(c)3 • $25M-$50M nonprofits • Source year 2024

Liabilities / Revenue

84th percentile

1.56x

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

2024 filings • 501(c)3 • $25M-$50M nonprofits • Source year 2024

Net Margin

48th percentile

3.5%

Higher net margin than 48% of similar nonprofits.

2024 filings • 501(c)3 • $25M-$50M nonprofits • Source year 2024

Top Officer Pay

31st percentile

$190,901

Higher top officer pay than 31% of similar nonprofits.

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

2024 filings • 501(c)3 • $25M-$50M nonprofits • Source year 2024

Asset Growth

53rd percentile

6.3%

Faster asset growth than 53% of similar nonprofits.

2024 filings • 501(c)3 • $25M-$50M nonprofits • Annualized from 2023 to 2024

Revenue Growth

33rd percentile

1.3%

Faster revenue growth than 33% of similar nonprofits.

2024 filings • 501(c)3 • $25M-$50M nonprofits • Annualized from 2023 to 2024

Balance Sheet
Liabilities / Assets85th percentile

Assets

Up

$29,821,708

Up $5,412,423 (+22%) from 2022

Net Assets

Up

$8,014,648

Up $1,243,577 (+18%) from 2022

Liabilities

Up

$21,807,060

Up $4,168,846 (+24%) from 2022

Revenue And Expenses
Liabilities / Revenue84th percentileNet Margin48th percentile

Revenue

Up

$13,958,671

Up $1,487,593 (+12%) from 2022

Expenses

Up

$13,467,604

Up $1,532,352 (+13%) from 2022

Net Income

Down

$491,067

Down $44,759 (-8.4%) from 2022

Historical Trend

Balance Sheet Trend

Asset Growth53rd 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: $6,771,0712022Assets 2024: $29,821,708Liabilities 2024: $21,807,060Net Assets 2024: $8,014,6482024

Highlighted filing

2024

Assets$29,821,708
Liabilities$21,807,060
Net Assets$8,014,648
Open 2024 Filing

Operations Trend

Revenue Growth33rd 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: $535,8262022Revenue 2024: $13,958,671Expenses 2024: $13,467,604Net Income 2024: $491,0672024

Highlighted filing

2024

Revenue$13,958,671
Expenses$13,467,604
Net Income$491,067
Open 2024 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2023 to Jun 30, 2024
Signed
Nov 20, 2024
Return Version
2023v5.1
Gross Receipts
$13,958,671
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$15,310,825$20,525,676▲ $5,214,851
Cash and Non-Interest-Bearing Accounts$6,663,229$4,669,387▼ $1,993,842
Intangible Assets$2,909,502$2,163,382▼ $746,120
Accounts Receivable$2,760,406$2,039,958▼ $720,448
Savings and Temporary Cash Investments$217,315$220,074▲ $2,759
Prepaid Expenses and Deferred Charges$181,723$199,786▲ $18,063
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-
Inventories for Sale or Use-$0-
Total Assets$28,043,000$29,821,708▲ $1,778,708
Other Assets Total-$3,445-
Liabilities
Tax Exempt Bond Liabilities$16,061,825$18,580,705▲ $2,518,880
Other Liabilities$2,926,644$2,169,266▼ $757,378
Accounts Payable and Accrued Expenses$1,454,051$1,003,181▼ $450,870
Deferred Revenue$76,899$53,908▼ $22,991
Total Liabilities$20,519,419$21,807,060▲ $1,287,641
Net Assets / Fund Balance
Net Assets With Donor Restrictions$7,109,372$7,539,950▲ $430,578
Net Assets Without Donor Restrictions$414,209$474,698▲ $60,489
Total Net Assets Fund Balance$7,523,581$8,014,648▲ $491,067
Total Liabilities and Net Assets / Fund Balance$28,043,000$29,821,708▲ $1,778,708

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$11,211,391$2,772,640$13,984,031
Land$7,447,936-$7,447,936
Equipment$375,918$1,657,640$2,033,558
Other Land Buildings$1,490,431-$1,490,431
Compensation and Service Providers
Top Officer Pay31st percentile

Employees

NameTitleFull / Part TimeBaseOtherTotal
Stacy AltonSuperintendentFT$172,981$17,920$190,901

Board Members and Trustees

NameTitle
Sheila CraftPresident
Jacob MakuvireBoard Member
Jamie-lynn HarrisBoard Member
Jennifer BarkerBoard Member
Marnie NelsonBoard Member
Scott ArmendarizSecretary
Mark RenfroTreasurer

Highest Paid Contractors

ContractorServicesLocationCompensation
Crossland Construction CoConstruction731 INDUSTRY WAY, Prosper, TX 75078$1,179,238
Dynamic Support SolutionsConsultingPO Box 541012, Dallas, TX 75354$196,000
Education Service CenterEducation400 E SPRING VALLEY RD, Richardson, TX 75081$181,689
Revenue and Support

Revenue Composition

Contributions and Grants
$13,583,941
Program Service Revenue
$349,736
Investment Income
$24,994
Other Revenue
$0
All Other Contributions
$2,446
Change in Net Assets
$491,067

Audited Revenue Reconciliation

Revenue per Audited Statements
$13,958,671
Total Revenue per Audited Statements
$13,958,671
Total Revenue per Form 990
$13,958,671
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$8,558,899
Other Expenses$4,908,705
Total Fundraising Expense$18,852
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$6,388,443$580,524$16,478$6,985,445
Fees for Services Other$1,058,794$286,763-$1,345,557
Occupancy$1,121,317--$1,121,317
Other Employee Benefits$791,209$109,874$675$901,758
Depreciation Depletion$722,437--$722,437
Interest$453,269$50,363-$503,632
Pension Plan Contributions$333,080$29,380$1,463$363,923
Current Officers, Directors, Trustees, and Key Employees-$195,139-$195,139
Travel$140,864$6,553-$147,417
Insurance$125,537--$125,537
Payroll Taxes$101,382$11,016$236$112,634
Other Expenses$46,912$59,416-$46,912
Fees for Services Legal-$33,515-$33,515
Fees for Services Accounting-$30,000-$30,000
Total Functional Expenses$11,930,579$1,518,173$18,852$13,467,604

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$13,467,604
Total Expenses per Audited Statements$13,467,604
Total Expenses per Form 990$13,467,604
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 CraftBoard MemberFacility LeaseNo$853,735

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
Operating Lease Liability$2,169,266

Bond Issues

BondIssuerIssuedIssue PricePurpose
AArl Higher Ed Fin Corp2021-12-15$16,295,000REFINANCE DEBT

Bond Proceeds

BondTotal ProceedsSpentRetiredIssuance Costs
A$16,710,000$16,710,000$880,000$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
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
No

Governance Explanations

Form 990, Part VI, Section A, Line 2

“Sheila craft-business relationship.”

Form 990, Part VI, Section B, Line 11B

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

Form 990, Part VI, Section B, Line 15A

“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, Section B, Line 15B

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

Form 990, Part VI, Section C, Line 19

“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
2024-11-20
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
243
Volunteers
100

Preparer

Firm
Sutton Frost Cary LLP
Address
200 E Front St Suite 200, 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, 2024. 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, 2024, there are no uncertain tax positions taken or expected to be taken.”

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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/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/OtherEmployeeBenefitsGrp/TotalAmt0901758
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IRS990/PensionPlanContributionsGrp/ManagementAndGeneralAmt029380
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IRS990/ProgramServiceRevenueGrp/Desc0OTHER LOCAL REVENUE
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt0349736
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt0349736
IRS990/ProhibitedTaxShelterTransInd0false
IRS990/PYContributionsGrantsAmt013382506
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IRS990/RoyaltiesRevenueGrp/TotalRevenueColumnAmt00
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IRS990/SavingsAndTempCashInvstGrp/EOYAmt0220074
IRS990ScheduleA/SchoolInd0X
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IRS990ScheduleB/ContributorInformationGrp/ContributorNum0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/AddressLine10RESTRICTED
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IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/State0RESTRICTED
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IRS990ScheduleD/BuildingsGrp/BookValueAmt011211391
IRS990ScheduleD/BuildingsGrp/DepreciationAmt02772640
IRS990ScheduleD/BuildingsGrp/OtherCostOrOtherBasisAmt013984031
IRS990ScheduleD/EquipmentGrp/BookValueAmt0375918
IRS990ScheduleD/EquipmentGrp/DepreciationAmt01657640
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IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0OPERATING LEASE LIABILITY
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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, 2024. 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, 2024, there are no uncertain tax positions taken or expected to be taken.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0Part X : FIN48 Footnote
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IRS990ScheduleE/DiscriminateRaceEducPlcyInd0false
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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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Document Assets

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Filings

Displayed year

2024 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$29,821,708
Liabilities
$21,807,060
Net assets
$8,014,648
Revenue
$13,958,671
Expenses
$13,467,604
Net income
$491,067
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$29.8$21.8$8.01$14.0$13.5$0.49
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