Civic Intelligence

STEM Preparatory Academy

990 • Fiscal year 2022 • EIN 27-2163445

Jul 01, 2021 to Jun 30, 2022 • Filed on May 15, 2023

1162 Foster AvenueNashville, TN 37211

(615) 921-2200

Siviq Scores

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

Liabilities / Assets

80th percentile

0.58x

Higher debt load relative to assets than 80% of similar nonprofits.

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

Liabilities / Revenue

76th percentile

0.78x

Higher debt load relative to revenue than 76% of similar nonprofits.

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

Net Margin

58th percentile

11%

Higher net margin than 58% of similar nonprofits.

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

Top Officer Pay

39th percentile

$146,909

Higher top officer pay than 39% of similar nonprofits.

Top officer pay equals 0.9% of source-year revenue.

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

Asset Growth

92nd percentile

55%

Faster asset growth than 92% of similar nonprofits.

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

Revenue Growth

34th percentile

-4.4%

Faster revenue growth than 34% of similar nonprofits.

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

Assets

Up

$21,886,725

Up $7,725,008 (+55%) from 2021

Net Assets

Up

$9,214,990

Up $1,697,788 (+23%) from 2021

Liabilities

Up

$12,671,735

Up $6,027,220 (+91%) from 2021

Revenue

Down

$16,250,518

Down $747,279 (-4.4%) from 2021

Expenses

Up

$14,533,871

Up $2,784,713 (+24%) from 2021

Net Income

Down

$1,716,647

Down $3,531,992 (-67%) from 2021

Historical Trend

Balance Sheet Trend

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

$30M$20M$10M$0Assets 2012: $298,057Liabilities 2012: $52,839Net Assets 2012: $245,2182012Assets 2016: $5,375,374Liabilities 2016: $4,024,313Net Assets 2016: $1,351,0612016Assets 2017: $7,854,269Liabilities 2017: $6,151,887Net Assets 2017: $1,702,3822017Assets 2019: $9,799,116Liabilities 2019: $7,361,899Net Assets 2019: $2,437,2172019Assets 2020: $10,889,736Liabilities 2020: $8,621,173Net Assets 2020: $2,268,5632020Assets 2021: $14,161,717Liabilities 2021: $6,644,515Net Assets 2021: $7,517,2022021Assets 2022: $21,886,725Liabilities 2022: $12,671,735Net Assets 2022: $9,214,9902022Assets 2024: $22,706,350Liabilities 2024: $10,844,177Net Assets 2024: $11,862,1732024

Highlighted filing

2022

Assets$21,886,725
Liabilities$12,671,735
Net Assets$9,214,990

Operations Trend

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

$20M$15M$10M$5.0M$0-$5.0MExpenses 2012: $1,168,7842012Revenue 2016: $6,252,090Expenses 2016: $5,491,418Net Income 2016: $760,6722016Revenue 2017: $8,712,866Expenses 2017: $8,361,545Net Income 2017: $351,3212017Revenue 2019: $11,658,809Expenses 2019: $11,621,400Net Income 2019: $37,4092019Revenue 2020: $11,742,212Expenses 2020: $11,910,866Net Income 2020: -$168,6542020Revenue 2021: $16,997,797Expenses 2021: $11,749,158Net Income 2021: $5,248,6392021Revenue 2022: $16,250,518Expenses 2022: $14,533,871Net Income 2022: $1,716,6472022Revenue 2024: $19,682,192Expenses 2024: $17,981,624Net Income 2024: $1,700,5682024

Highlighted filing

2022

Revenue$16,250,518
Expenses$14,533,871
Net Income$1,716,647
Jump To
Filing Snapshot
Filing Period
Jul 1, 2021 to Jun 30, 2022
Signed
May 15, 2023
Return Version
2021v4.2
Gross Receipts
$16,250,518
Mission and Program Overview

Mission

To provide a college preparatory education with an integrated focus on science, technology, engineering, and mathematics, to fifth through twelfth grade students in south nashville.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$6,268,725$8,453,517▲ $2,184,792
Cash and Non-Interest-Bearing Accounts$3,955,874$6,199,882▲ $2,244,008
Prepaid Expenses and Deferred Charges$1,674,234$3,611,082▲ $1,936,848
Accounts Receivable$2,019,252$1,286,239▼ $733,013
Total Assets$14,161,717$21,886,725▲ $7,725,008
Other Assets Total$243,632$2,336,005▲ $2,092,373
Liabilities
Mortgage Notes Payable Secured by Investment Property$4,619,945$7,023,851▲ $2,403,906
Other Liabilities$1,426,894$4,911,885▲ $3,484,991
Accounts Payable and Accrued Expenses$348,518$735,999▲ $387,481
Deferred Revenue$249,158--
Total Liabilities$6,644,515$12,671,735▲ $6,027,220
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$6,204,320$6,725,878▲ $521,558
Net Assets With Donor Restrictions$1,312,882$2,489,112▲ $1,176,230
Total Net Assets Fund Balance$7,517,202$9,214,990▲ $1,697,788
Total Liabilities and Net Assets / Fund Balance$14,161,717$21,886,725▲ $7,725,008

Asset Categories

AssetBook ValueDepreciationBasis
Leasehold Improvements$6,142,766$3,740,243$9,883,009
Buildings$1,928,842$1,029,187$2,958,029
Equipment$300,909$823,808$1,124,717
Other Land Buildings$81,000$421,099$502,099
Other Assets Org$298,083--
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseTotal
Dr Kristin McgranerExecutive DirectorFT$146,909$146,909

Board Members and Trustees

NameTitle
Marty SzeigisBoard Chair
Anne DavisBoard Director
Dr Marilyn OdomBoard Director
Mara RiveraBoard Director
Mohammed ShukriBoard Director
Dr Julie HudsonSecretary
Marees ChoppinTreasurer

Highest Paid Contractors

ContractorServicesLocationCompensation
Dwc Construction CompanyContracted Services2014 GLADSTONE AVE, Nashville, TN 37211$1,629,239
Transpar Group INCTransportation Services880 ISLAND PARK DR SUITE 300, Charleston, SC 29492$1,040,375
School Facility Management LLCTemporary Building800 18TH AVENUE SOUTH, Nashville, TN 37203$550,757
Servicefm LLCContracted Services1200 BELL LANE SUITE C, New Albany, IN 47150$246,085
Family And Children ServicesContracted Services2400 CLIFTON AVENUE, Nashville, TN 37209$190,800
Revenue and Support

Revenue Composition

Contributions and Grants
$16,089,198
Program Service Revenue
$161,320
Investment Income
$0
Other Revenue
$0
All Other Contributions
$157,672
Change in Net Assets
$1,716,647

Audited Revenue Reconciliation

Revenue per Audited Statements
$16,250,518
Revenue Not Reported on Financial Statements
$0
Revenue Not Reported on Form 990
$0
Total Revenue per Audited Statements
$16,250,518
Total Revenue per Form 990
$16,250,518
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$8,323,868
Other Expenses$6,210,003
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$6,370,004$1,807,055-$8,177,059
Depreciation Depletion$1,085,959$271,490-$1,357,449
Occupancy$1,007,950$251,987-$1,259,937
Travel$1,192,976--$1,192,976
Fees for Services Other-$1,032,963-$1,032,963
Interest-$386,552-$386,552
Office Expenses-$289,272-$289,272
Current Officers, Directors, Trustees, and Key Employees$114,366$32,443-$146,809
Fees for Services Accounting-$89,176-$89,176
Other Expenses$144,144$84,838-$84,838
Total Functional Expenses$10,261,633$4,272,238$0$14,533,871

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$14,533,871
Total Expenses per Audited Statements$14,533,871
Total Expenses per Form 990$14,533,871
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
Subject to proxy tax
No
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Deferred Inflows of Resources - Pension$2,486,622
Right of Use Lease Liability$2,425,263
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 B, Line 11B

Stem's finance committee and board of directors are provided a copy of the form 990 for comment and review. Upon approval, the form 990 is released for filing.

Form 990, Part VI, Section B, Line 12C

Conflict of interest policy forms are submitted to all board members on an annual basis. Forms are completed and signed each year by each board member. The board convenes every month, at which time any conflicts of interest are addressed. Any board member who is subject to a conflict of interest is required to abstain from voting on the matter from which the conflict arises.

Form 990, Part VI, Section B, Line 15

Independent board members determine management, officer, and key employees compensation. Compensation is based on industry standard and negotiation.

Form 990, Part VI, Section C, Line 18

The organization's form 990 is made available for public inspection at https://givingmatters.guidestar.org.

Form 990, Part VI, Section C, Line 19

Organization documents can be obtained by contacting the director of operations at stem preparatory academy.

Filing and Contact Details

Filer

Filer Name
Stem Preparatory Academy
EIN
27-2163445
Phone
6159212200
Address
1162 FOSTER AVENUE, NASHVILLE, TN 37211

Signing Officer

Name
Charlie Williams
Title
Chief Financial Officer
Phone
6159212204
Signed
2023-05-15
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Charlie Williams
Formed
2010
Legal Domicile
Tn
Voting Board Members
7
Independent Board Members
7
Employees
155
Volunteers
10

Preparer

Firm
Crosslin Pllc
Address
3803 BEDFORD AVENUE SUITE 103, NASHVILLE, TN 37215
Preparer
Rodney C Brower
Phone
6153205500
Supplemental Narrative

Financial Statement Notes

PART X, LINE 2:

Stem preparatory academy is a not-for-profit organization that is exempt from federal income taxes under the internal revenue code, classified by the internal revenue service as other than a private foundation and is similarly exempt from state income taxes. Stem accounts for the effect of any uncertain tax positions based on a more likely than not threshold to the recognition of the tax positions being sustained based on the technical merits of the position under examination by the applicable taxing authority. If a tax position or positions are deemed to result in uncertainties of those positions, the unrecognized tax benefit is estimated based on a cumulative probability assessment that aggregates the estimated tax liability for all uncertain tax positions. Tax positions for stem include, but are not limited to, the tax-exempt status and determination of whether income is subject to unrelated business income tax; however, stem has determined that such tax positions do not result in an uncertainty requiring recognition.

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IRS990/Desc0IN 2021, STEM CELEBRATED ITS TENTH ANNIVERSARY OF SERVING THE FAMILIES OF THE SOUTH NASHVILLE COMMUNITY. THOUGH MUCH HAS CHANGED SINCE THE INAUGURAL YEAR, OUR COMMITMENT TO OUR STUDENTS AND THEIR FAMILIES CONTINUES TO PERSIST. STEM SERVES A UNIQUE, HIGHLY DIVERSE POPULATION AND HAS ESTABLISHED A TRACK RECORD OF OUTSTANDING ACADEMIC RESULTS, ACHIEVED WITH UNMATCHED FISCAL EFFICIENCY. STEM CONTINUES TO OUTPERFORM PEER SCHOOLS THROUGHOUT THE STATE ACROSS ALL SUBJECT AREAS.SINCE ITS INCEPTION, STEM HAS ACCOUNTED FOR 100% OF THE "EXCELLING" SEATS IN THE CLUSTER, AS DETERMINED BY THE SCHOOL DISTRICT'S ACADEMIC PERFORMANCE FRAMEWORK. MOREOVER, ENGLISH LEARNERS ACHIEVE LANGUAGE PROFICIENCY ON AVERAGE IN ONE TO TWO YEARS AT STEM, COMPARED TO FIVE TO SEVEN YEARS IN DISTRICT EL PROGRAMS.FOR MORE INFORMATION REGARDING STEM PREP'S 2022 ACADEMIC ACCOMPLISHMENTS, PLEASE CONTACT THE SCHOOL'S EXECUTIVE DIRECTOR, DR. KRISTIN MCGRANER, AT THE ADDRESS OR TELEPHONE NUMBER STATED ON PAGE 1 OF THE FORM 990.
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IRS990/MinutesOfCommitteesInd01
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IRS990/MissionDesc0TO PROVIDE A COLLEGE PREPARATORY EDUCATION WITH AN INTEGRATED FOCUS ON SCIENCE, TECHNOLOGY, ENGINEERING, AND MATHEMATICS, TO FIFTH THROUGH TWELFTH GRADE STUDENTS IN SOUTH NASHVILLE.
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IRS990/OtherExpensesGrp/Desc1STAFF DEVELOPMENT
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IRS990/PrincipalOfficerNm0CHARLIE WILLIAMS
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IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt1298083
IRS990ScheduleD/OtherAssetsOrgGrp/Desc0RIGHT OF USE ASSET NET OF ACCUMULATED AMORTIZATION
IRS990ScheduleD/OtherAssetsOrgGrp/Desc1TCRS STABILIZATION RESERVE TRUST
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IRS990ScheduleD/OtherLandBuildingsGrp/DepreciationAmt0421099
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IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt02486622
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IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0DEFERRED INFLOWS OF RESOURCES - PENSION
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc1RIGHT OF USE LEASE LIABILITY
IRS990ScheduleD/RevenueNotReportedAmt00
IRS990ScheduleD/RevenueNotReportedFinclStmtAmt00
IRS990ScheduleD/RevenueSubtotalAmt016250518
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0STEM PREPARATORY ACADEMY IS A NOT-FOR-PROFIT ORGANIZATION THAT IS EXEMPT FROM FEDERAL INCOME TAXES UNDER THE INTERNAL REVENUE CODE, CLASSIFIED BY THE INTERNAL REVENUE SERVICE AS OTHER THAN A PRIVATE FOUNDATION AND IS SIMILARLY EXEMPT FROM STATE INCOME TAXES. STEM ACCOUNTS FOR THE EFFECT OF ANY UNCERTAIN TAX POSITIONS BASED ON A MORE LIKELY THAN NOT THRESHOLD TO THE RECOGNITION OF THE TAX POSITIONS BEING SUSTAINED BASED ON THE TECHNICAL MERITS OF THE POSITION UNDER EXAMINATION BY THE APPLICABLE TAXING AUTHORITY. IF A TAX POSITION OR POSITIONS ARE DEEMED TO RESULT IN UNCERTAINTIES OF THOSE POSITIONS, THE UNRECOGNIZED TAX BENEFIT IS ESTIMATED BASED ON A CUMULATIVE PROBABILITY ASSESSMENT THAT AGGREGATES THE ESTIMATED TAX LIABILITY FOR ALL UNCERTAIN TAX POSITIONS. TAX POSITIONS FOR STEM INCLUDE, BUT ARE NOT LIMITED TO, THE TAX-EXEMPT STATUS AND DETERMINATION OF WHETHER INCOME IS SUBJECT TO UNRELATED BUSINESS INCOME TAX; HOWEVER, STEM HAS DETERMINED THAT SUCH TAX POSITIONS DO NOT RESULT IN AN UNCERTAINTY REQUIRING RECOGNITION.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0PART X, LINE 2:
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IRS990ScheduleD/TotalBookValueOtherAssetsAmt02336005
IRS990ScheduleD/TotalExpensesPerForm990Amt014533871
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IRS990ScheduleE/ComplianceWithRevProc7550Ind01
IRS990ScheduleE/DiscriminateRaceAdmissPlcyInd00
IRS990ScheduleE/DiscriminateRaceAthltProgInd00
IRS990ScheduleE/DiscriminateRaceEducPlcyInd00
IRS990ScheduleE/DiscriminateRaceEmplmFcultyInd00
IRS990ScheduleE/DiscriminateRaceOtherActyInd00
IRS990ScheduleE/DiscriminateRaceSchsInd00
IRS990ScheduleE/DiscriminateRaceStdntsRghtsInd00
IRS990ScheduleE/DiscriminateRaceUseOfFcltsInd00
IRS990ScheduleE/GovernmentFinancialAidRcvdInd01
IRS990ScheduleE/GovernmentFinancialAidRvkdInd00
IRS990ScheduleE/MaintainCpyOfAllSolInd01
IRS990ScheduleE/MaintainCpyOfBrochuresEtcInd01
IRS990ScheduleE/MaintainRacialCompRecsInd01
IRS990ScheduleE/MaintainScholarshipsRecsInd00
IRS990ScheduleE/NondiscriminatoryPolicyStmtInd01
IRS990ScheduleE/PlcyPblczdViaBroadcastMediaInd01
IRS990ScheduleE/PolicyStmtInBrochuresEtcInd01
IRS990ScheduleE/SupplementalInformationDetail/ExplanationTxt0ALL POLICIES ARE INCLUDED IN ALL ENROLLMENT AND REGISTRATION DOCUMENTS AND MATERIALS
IRS990ScheduleE/SupplementalInformationDetail/ExplanationTxt1STEM IS A FREE PUBLIC SCHOOL, THEREFORE QUESTION 4B IS NOT APPLICABLE.
IRS990ScheduleE/SupplementalInformationDetail/ExplanationTxt2STEM PREPARATORY ACADEMY IS A PUBLIC CHARTER SCHOOL. AS SUCH, STEM RECEIVES LOCAL, STATE, AND FEDERAL FINANCIAL ASSISTANCE IN THE SAME MANNER AS A TRADITIONAL PUBLIC SCHOOL.
IRS990ScheduleE/SupplementalInformationDetail/FormAndLineReferenceDesc0SCHEDULE E, PART I, LINE 3
IRS990ScheduleE/SupplementalInformationDetail/FormAndLineReferenceDesc1SCHEDULE E, PART I, LINE 4
IRS990ScheduleE/SupplementalInformationDetail/FormAndLineReferenceDesc2SCHEDULE E, PART I, LINE 6
IRS990/ScheduleJRequiredInd00
IRS990/ScheduleORequiredInd01
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0STEM'S FINANCE COMMITTEE AND BOARD OF DIRECTORS ARE PROVIDED A COPY OF THE FORM 990 FOR COMMENT AND REVIEW. UPON APPROVAL, THE FORM 990 IS RELEASED FOR FILING.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1CONFLICT OF INTEREST POLICY FORMS ARE SUBMITTED TO ALL BOARD MEMBERS ON AN ANNUAL BASIS. FORMS ARE COMPLETED AND SIGNED EACH YEAR BY EACH BOARD MEMBER. THE BOARD CONVENES EVERY MONTH, AT WHICH TIME ANY CONFLICTS OF INTEREST ARE ADDRESSED. ANY BOARD MEMBER WHO IS SUBJECT TO A CONFLICT OF INTEREST IS REQUIRED TO ABSTAIN FROM VOTING ON THE MATTER FROM WHICH THE CONFLICT ARISES.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2INDEPENDENT BOARD MEMBERS DETERMINE MANAGEMENT, OFFICER, AND KEY EMPLOYEES COMPENSATION. COMPENSATION IS BASED ON INDUSTRY STANDARD AND NEGOTIATION.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3THE ORGANIZATION'S FORM 990 IS MADE AVAILABLE FOR PUBLIC INSPECTION AT HTTPS://GIVINGMATTERS.GUIDESTAR.ORG.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4ORGANIZATION DOCUMENTS CAN BE OBTAINED BY CONTACTING THE DIRECTOR OF OPERATIONS AT STEM PREPARATORY ACADEMY.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PART VI, SECTION B, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PART VI, SECTION B, LINE 12C
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PART VI, SECTION B, LINE 15
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PART VI, SECTION C, LINE 18
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PART VI, SECTION C, LINE 19
IRS990/SchoolOperatingInd01
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IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt06644515
IRS990/TotalLiabilitiesEOYAmt012671735

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