Civic Intelligence

F L Templeton Preparatory Academy Inc.

990 • Fiscal year 2021 • EIN 27-4106131

Jul 01, 2020 to Jun 30, 2021 • Filed on Apr 28, 2022

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

26th percentile

0.02x

Higher debt load relative to assets than 26% of similar nonprofits.

2021 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2021

Liabilities / Revenue

13th percentile

0.01x

Higher debt load relative to revenue than 13% of similar nonprofits.

2021 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2021

Net Margin

34th percentile

4.6%

Higher net margin than 34% of similar nonprofits.

2021 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2021

Top Officer Pay

75th percentile

$188,443

Higher top officer pay than 75% of similar nonprofits.

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

2021 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2021

Asset Growth

59th percentile

13%

Faster asset growth than 59% of similar nonprofits.

2021 filings • 501(c)3 • $5M-$10M nonprofits • Annualized from 2020 to 2021

Revenue Growth

42nd percentile

6.6%

Faster revenue growth than 42% of similar nonprofits.

2021 filings • 501(c)3 • $5M-$10M nonprofits • Annualized from 2020 to 2021

Assets

Up

$2,052,752

Up $242,023 (+13%) from 2020

Net Assets

Up

$2,009,398

Up $287,339 (+17%) from 2020

Liabilities

Down

$43,354

Down $45,316 (-51%) from 2020

Revenue

Up

$6,268,189

Up $390,670 (+6.6%) from 2020

Expenses

Up

$5,980,850

Up $255,255 (+4.5%) from 2020

Net Income

Up

$287,339

Up $135,415 (+89%) from 2020

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

2021

Assets$2,052,752
Liabilities$43,354
Net Assets$2,009,398

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

2021

Revenue$6,268,189
Expenses$5,980,850
Net Income$287,339
Jump To
Filing Snapshot
Filing Period
Jul 1, 2020 to Jun 30, 2021
Signed
Apr 28, 2022
Return Version
2020v4.0
Gross Receipts
$6,268,189
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$771,138$1,155,801▲ $384,663
Savings and Temporary Cash Investments$515,622$515,674▲ $52
Accounts Receivable$169,815$215,439▲ $45,624
Land, Buildings, and Equipment, Net$239,922$98,003▼ $141,919
Pledges and Grants Receivable$114,232$67,835▼ $46,397
Other Notes and Loans Receivable, Net-$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-
Prepaid Expenses and Deferred Charges-$0-
Total Assets$1,810,729$2,052,752▲ $242,023
Other Assets Total-$0-
Liabilities
Accounts Payable and Accrued Expenses$88,670$43,354▼ $45,316
Total Liabilities$88,670$43,354▼ $45,316
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$1,722,059$2,009,398▲ $287,339
Total Net Assets Fund Balance$1,722,059$2,009,398▲ $287,339
Total Liabilities and Net Assets / Fund Balance$1,810,729$2,052,752▲ $242,023

Asset Categories

AssetBook ValueDepreciationBasis
Leasehold Improvements$77,079$809,537$886,616
Equipment$20,924$828,358$849,282
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
Rosalind LockwoodExecutive DirectorFT$188,443-$188,443
Denia PaytonBusiness Mgr.-$5,000$112,807$117,807

Board Members and Trustees

NameTitle
Wanda BestPresident
Florine McCreadyVice President
Aziz HousseiniDirector
B Christina QuinonesDirector
Bree JonesDirector
Damian L JonesDirector
ER ShippDirector
Eric T CostelloDirector
Lemuel B ThomasDirector
Patricia JonesDirector
Richard BarthSecretary
Brett McAlilyTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$2,369,979
Program Service Revenue
$3,898,158
Investment Income
$52
Other Revenue
$0
All Other Contributions
$162,088
Change in Net Assets
$287,339

Audited Revenue Reconciliation

Revenue per Audited Statements
$6,268,189
Revenue Not Reported on Form 990
$221,809
Total Revenue per Audited Statements
$6,489,998
Total Revenue per Form 990
$6,268,189
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$4,562,994
Other Expenses$1,417,856
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$2,917,936$319,282-$3,237,218
Other Employee Benefits$723,360$109,716-$833,076
Occupancy$412,636$62,587-$475,223
Current Officers, Directors, Trustees, and Key Employees$130,937$143,158-$274,095
Fees for Services Other$233,574$14,875-$248,449
Office Expenses$222,642$13,840-$236,482
Payroll Taxes$189,815$28,790-$218,605
Depreciation Depletion$123,228$18,691-$141,919
Fees for Services Accounting-$22,113-$22,113
Other Expenses$150$2,330-$150
Total Functional Expenses$5,244,270$736,580$0$5,980,850

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Audited Statements$6,202,659
Expenses per Audited Statements$5,980,850
Total Expenses per Form 990$5,980,850
Expenses Not Reported on Form 990$221,809
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 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
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
2022-04-28
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Rosalind Lockwood
Formed
2011
Legal Domicile
Md
Voting Board Members
12
Independent Board Members
12
Employees
4
Volunteers
32

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/OtherEmployeeBenefitsGrp/ProgramServicesAmt0723360
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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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