Civic Intelligence

F L Templeton Preparatory Academy Inc.

990 • Fiscal year 2019 • EIN 27-4106131

Jul 01, 2018 to Jun 30, 2019 • Filed on Apr 27, 2020

1200 Pennsylvania AveBaltimore, MD 21217

(410) 396-0882

Siviq Scores

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

Liabilities / Assets

38th percentile

0.07x

Higher debt load relative to assets than 38% of similar nonprofits.

2019 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2019

Liabilities / Revenue

16th percentile

0.02x

Higher debt load relative to revenue than 16% of similar nonprofits.

2019 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2019

Net Margin

22nd percentile

-7.3%

Higher net margin than 22% of similar nonprofits.

2019 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2019

Top Officer Pay

68th percentile

$167,000

Higher top officer pay than 68% of similar nonprofits.

Top officer pay equals 3.0% of source-year revenue.

2019 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2019

Asset Growth

6th percentile

-16%

Faster asset growth than 6% of similar nonprofits.

2019 filings • 501(c)3 • $5M-$10M nonprofits • Annualized from 2018 to 2019

Revenue Growth

29th percentile

-3.9%

Faster revenue growth than 29% of similar nonprofits.

2019 filings • 501(c)3 • $5M-$10M nonprofits • Annualized from 2018 to 2019

Assets

Down

$1,689,082

Down $317,855 (-16%) from 2018

Net Assets

Down

$1,570,135

Down $402,585 (-20%) from 2018

Liabilities

Up

$118,947

Up $84,730 (+248%) from 2018

Revenue

Down

$5,539,989

Down $224,856 (-3.9%) from 2018

Expenses

Up

$5,942,574

Up $153,637 (+2.7%) from 2018

Net Income

Down

-$402,585

Down $378,493 (-1571%) from 2018

Historical Trend

Balance Sheet Trend

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

$6.0M$4.0M$2.0M$0Assets 2015: $1,823,502Liabilities 2015: $15,676Net Assets 2015: $1,807,8262015Assets 2016: $1,881,262Liabilities 2016: $18,879Net Assets 2016: $1,862,3832016Assets 2017: $2,078,027Liabilities 2017: $81,215Net Assets 2017: $1,996,8122017Assets 2018: $2,006,937Liabilities 2018: $34,217Net Assets 2018: $1,972,7202018Assets 2019: $1,689,082Liabilities 2019: $118,947Net Assets 2019: $1,570,1352019Assets 2020: $1,810,729Liabilities 2020: $88,670Net Assets 2020: $1,722,0592020Assets 2021: $2,052,752Liabilities 2021: $43,354Net Assets 2021: $2,009,3982021Assets 2022: $2,272,064Liabilities 2022: $62,130Net Assets 2022: $2,209,9342022Assets 2023: $3,680,108Liabilities 2023: $728,673Net Assets 2023: $2,951,4352023Assets 2024: $4,453,080Liabilities 2024: $437,101Net Assets 2024: $4,015,9792024

Highlighted filing

2019

Assets$1,689,082
Liabilities$118,947
Net Assets$1,570,135

Operations Trend

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

$10M$5.0M$0-$5.0MRevenue 2015: $5,726,844Expenses 2015: $6,023,825Net Income 2015: -$296,9812015Revenue 2016: $5,625,546Expenses 2016: $5,570,989Net Income 2016: $54,5572016Revenue 2017: $5,921,723Expenses 2017: $5,787,294Net Income 2017: $134,4292017Revenue 2018: $5,764,845Expenses 2018: $5,788,937Net Income 2018: -$24,0922018Revenue 2019: $5,539,989Expenses 2019: $5,942,574Net Income 2019: -$402,5852019Revenue 2020: $5,877,519Expenses 2020: $5,725,595Net Income 2020: $151,9242020Revenue 2021: $6,268,189Expenses 2021: $5,980,850Net Income 2021: $287,3392021Revenue 2022: $6,346,529Expenses 2022: $6,145,993Net Income 2022: $200,5362022Revenue 2023: $7,759,507Expenses 2023: $7,018,006Net Income 2023: $741,5012023Revenue 2024: $8,797,298Expenses 2024: $7,732,754Net Income 2024: $1,064,5442024

Highlighted filing

2019

Revenue$5,539,989
Expenses$5,942,574
Net Income-$402,585
Jump To
Filing Snapshot
Filing Period
Jul 1, 2018 to Jun 30, 2019
Signed
Apr 27, 2020
Return Version
2018v3.1
Gross Receipts
$5,539,989
Mission and Program Overview

Mission

The vision is to prepare our youth for the 21st century while giving them the opportunity to learn, love, and live. Moreover, we will accomplish this vision by accelerating the opportunities and outcomes for our children by demanding nothing but excellence from the students, the staff, and the community. In short, we "expect excellence"!

Prepare our youth for the 21st century while giving them the opportunity to learn, love, and live by accelerating the opportunities for our children and demanding excellence from students, staff, and the community.

Balance Sheet Detail
LineBeginningEndChange
Assets
Cash and Non-Interest-Bearing Accounts$1,066,539$782,450▼ $284,089
Savings and Temporary Cash Investments$515,210$515,416▲ $206
Land, Buildings, and Equipment, Net$329,474$391,216▲ $61,742
Accounts Receivable$94,454$0▼ $94,454
Prepaid Expenses and Deferred Charges$1,260$0▼ $1,260
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$2,006,937$1,689,082▼ $317,855
Other Assets Total-$0-
Liabilities
Accounts Payable and Accrued Expenses$34,217$118,947▲ $84,730
Total Liabilities$34,217$118,947▲ $84,730
Net Assets / Fund Balance
Unrestricted Net Assets$1,972,720$1,570,135▼ $402,585
Total Net Assets Fund Balance$1,972,720$1,570,135▼ $402,585
Total Liabilities and Net Assets / Fund Balance$2,006,937$1,689,082▼ $317,855

Asset Categories

AssetBook ValueDepreciationBasis
Leasehold Improvements$255,513$631,103$886,616
Equipment$135,703$713,579$849,282
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
Rosalind LockwoodExecutive DirectorFT$167,000-$167,000
Denia PaytonBusiness Mgr.--$111,479$111,479

Board Members and Trustees

Revenue and Support

Revenue Composition

Contributions and Grants
$1,765,643
Program Service Revenue
$3,774,123
Investment Income
$223
Other Revenue
$0
All Other Contributions
$260,947
Change in Net Assets
$-402,585

Audited Revenue Reconciliation

Revenue per Audited Statements
$5,539,989
Total Revenue per Audited Statements
$5,539,989
Total Revenue per Form 990
$5,539,989
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$4,617,732
Other Expenses$1,324,842
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$2,779,862$320,883-$3,100,745
Other Employee Benefits$863,428$136,026-$999,454
Occupancy$339,680$53,514-$393,194
Payroll Taxes$224,469$35,363-$259,832
Current Officers, Directors, Trustees, and Key Employees$121,500$136,201-$257,701
Fees for Services Other$185,707$19,098-$204,805
Depreciation Depletion$131,040$20,644-$151,684
Office Expenses$81,400$3,125-$84,525
Fees for Services Accounting-$22,113-$22,113
Other Expenses$9,148$666-$9,814
Travel$3,813$601-$4,414
Total Functional Expenses$5,190,591$751,983$0$5,942,574

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$5,942,574
Total Expenses per Audited Statements$5,942,574
Total Expenses per Form 990$5,942,574
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

Loans and Receivables

Line ItemBeginningEndChange
Receivables from Disqualified Persons-$0-
Receivables from Officers, Directors, Trustees, and Key Employees-$0-
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
No
Audit committee
Yes
Backup withholding compliance
Yes
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
No
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 11B: Form 990 Review Process

The 990 will be reviewed by the Board's Financial Committee. Thereafter, the Board Treasurer will present the 990 to the entire board at a board meeting.

Form 990, Part VI, Line 12C: Explanation of Monitoring and Enforcement of Conflicts

The school follows all policy outlined by Baltimore City Schools. The school board has a conflict of interest policy. This policy is monitored by the board President.

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

The Board of Directors shall evaluate the performance of the Executive Director annually and set the Executive Director's compensation.

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

Available on site upon request.

Filing and Contact Details

Filer

Filer Name
FL Templeton Preparatory
EIN
27-4106131
Phone
4103960882
Address
1200 Pennsylvania Ave, Baltimore, MD 21217

Signing Officer

Name
Rosalind Lockwood
Title
Executive Director
Signed
2020-04-27
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Rosalind Lockwood
Formed
2011
Legal Domicile
Md
Voting Board Members
9
Independent Board Members
9
Employees
3
Volunteers
30

Preparer

Firm
KL Hoffman & Company PC
Address
2809 BOSTON ST, BALTIMORE, MD 21224
Preparer
Karen L Hoffman CPA
Phone
4439901005
Supplemental Narrative

Financial Statement Notes

Part X : FIN48 Footnote

The Internal Revenue Service has not examined (audited) the previous tax returns of F.L. Templeton Preparatory Academy, Inc., thus the previous three (3) years are subject to examination. The School has not taken any questionable tax positions with respect to unrelated business income tax or anything that would jeopardize its 501(c)(3) status.

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IRS990/MissionDesc0The vision is to prepare our youth for the 21st century while giving them the opportunity to learn, love, and live. Moreover, we will accomplish this vision by accelerating the opportunities and outcomes for our children by demanding nothing but excellence from the students, the staff, and the community. In short, we "expect excellence"!
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IRS990/OtherExpensesGrp/TotalAmt227547
IRS990/OtherExpensesGrp/TotalAmt39814
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IRS990/PrincipalOfficerNm0Rosalind Lockwood
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IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0The Internal Revenue Service has not examined (audited) the previous tax returns of F.L. Templeton Preparatory Academy, Inc., thus the previous three (3) years are subject to examination. The School has not taken any questionable tax positions with respect to unrelated business income tax or anything that would jeopardize its 501(c)(3) status.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0Part X : FIN48 Footnote
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IRS990ScheduleE/DiscriminateRaceAdmissPlcyInd0false
IRS990ScheduleE/DiscriminateRaceAthltProgInd0false
IRS990ScheduleE/DiscriminateRaceEducPlcyInd0false
IRS990ScheduleE/DiscriminateRaceEmplmFcultyInd0false
IRS990ScheduleE/DiscriminateRaceOtherActyInd0false
IRS990ScheduleE/DiscriminateRaceSchsInd0false
IRS990ScheduleE/DiscriminateRaceStdntsRghtsInd0false
IRS990ScheduleE/DiscriminateRaceUseOfFcltsInd0false
IRS990ScheduleE/GovernmentFinancialAidRcvdInd0true
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IRS990ScheduleE/MaintainCpyOfAllSolInd0true
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IRS990ScheduleE/MaintainRacialCompRecsInd0true
IRS990ScheduleE/MaintainScholarshipsRecsInd0true
IRS990ScheduleE/NondiscriminatoryPolicyStmtInd0true
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IRS990ScheduleE/SupplementalInformationDetail/ExplanationTxt0Website
IRS990ScheduleE/SupplementalInformationDetail/ExplanationTxt1Receives financial aid from government agencies.
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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