Civic Intelligence

F L Templeton Preparatory Academy Inc.

990 • Fiscal year 2022 • EIN 27-4106131

Jul 01, 2021 to Jun 30, 2022 • Filed on Apr 19, 2023

Organization Profilewww.furmantempletonprepacademy.com
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

28th percentile

0.03x

Higher debt load relative to assets than 28% of similar nonprofits.

2022 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2022

Liabilities / Revenue

13th percentile

0.01x

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

2022 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2022

Net Margin

42nd percentile

3.2%

Higher net margin than 42% of similar nonprofits.

2022 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2022

Top Officer Pay

73rd percentile

$185,834

Higher top officer pay than 73% of similar nonprofits.

Top officer pay equals 2.9% of source-year revenue.

2022 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2022

Asset Growth

70th percentile

11%

Faster asset growth than 70% of similar nonprofits.

2022 filings • 501(c)3 • $5M-$10M nonprofits • Annualized from 2021 to 2022

Revenue Growth

44th percentile

1.2%

Faster revenue growth than 44% of similar nonprofits.

2022 filings • 501(c)3 • $5M-$10M nonprofits • Annualized from 2021 to 2022

Balance Sheet
Liabilities / Assets28th percentile

Assets

Up

$2,272,064

Up $219,312 (+11%) from 2021

Net Assets

Up

$2,209,934

Up $200,536 (+10.0%) from 2021

Liabilities

Up

$62,130

Up $18,776 (+43%) from 2021

Revenue And Expenses
Liabilities / Revenue13th percentileNet Margin42nd percentile

Revenue

Up

$6,346,529

Up $78,340 (+1.2%) from 2021

Expenses

Up

$6,145,993

Up $165,143 (+2.8%) from 2021

Net Income

Down

$200,536

Down $86,803 (-30%) from 2021

Historical Trend

Balance Sheet Trend

Asset Growth70th percentile

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

2022

Assets$2,272,064
Liabilities$62,130
Net Assets$2,209,934
Open 2022 Filing

Operations Trend

Revenue Growth44th percentile

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

2022

Revenue$6,346,529
Expenses$6,145,993
Net Income$200,536
Open 2022 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2021 to Jun 30, 2022
Signed
Apr 19, 2023
Return Version
2021v4.1
Gross Receipts
$6,346,529
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$1,155,801$1,532,441▲ $376,640
Savings and Temporary Cash Investments$515,674$515,725▲ $51
Accounts Receivable$215,439$145,105▼ $70,334
Land, Buildings, and Equipment, Net$98,003$53,375▼ $44,628
Pledges and Grants Receivable$67,835$25,418▼ $42,417
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$2,052,752$2,272,064▲ $219,312
Other Assets Total-$0-
Liabilities
Accounts Payable and Accrued Expenses$43,354$62,130▲ $18,776
Total Liabilities$43,354$62,130▲ $18,776
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$2,009,398$2,209,934▲ $200,536
Total Net Assets Fund Balance$2,009,398$2,209,934▲ $200,536
Total Liabilities and Net Assets / Fund Balance$2,052,752$2,272,064▲ $219,312

Asset Categories

AssetBook ValueDepreciationBasis
Leasehold Improvements-$886,616$886,616
Equipment$53,375$795,907$849,282
Compensation and Service Providers
Top Officer Pay73rd percentile

Employees

NameTitleFull / Part TimeBaseOtherTotal
Rosalind LockwoodExecutive DirectorFT$185,834-$185,834
Denia PaytonBusiness Mgr.-$12,000$114,871$126,871

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
$2,768,016
Program Service Revenue
$3,578,461
Investment Income
$52
Other Revenue
$0
All Other Contributions
$164,587
Change in Net Assets
$200,536

Audited Revenue Reconciliation

Revenue per Audited Statements
$6,346,529
Revenue Not Reported on Form 990
$264,947
Total Revenue per Audited Statements
$6,611,476
Total Revenue per Form 990
$6,346,529
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$4,725,690
Other Expenses$1,420,303
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$2,971,078$351,149-$3,322,227
Other Employee Benefits$740,557$120,856-$861,413
Occupancy$423,494$69,113-$492,607
Fees for Services Other$336,864$11,035-$347,899
Current Officers, Directors, Trustees, and Key Employees$145,355$157,442-$302,797
Payroll Taxes$205,686$33,567-$239,253
Office Expenses$123,239$14,206-$137,445
Depreciation Depletion$38,367$6,261-$44,628
Fees for Services Accounting-$21,850-$21,850
Other Expenses$14,121$2,304-$16,425
All Other Expenses-$9,261-$9,261
Total Functional Expenses$5,344,655$801,338$0$6,145,993

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Audited Statements$6,410,940
Expenses per Audited Statements$6,145,993
Total Expenses per Form 990$6,145,993
Expenses Not Reported on Form 990$264,947
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
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
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
2023-04-19
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
6
Volunteers
20

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/LandBldgEquipCostOrOtherBssAmt01735898
IRS990/LegalDomicileStateCd0MD
IRS990/LoanOutstandingInd0false
IRS990/LobbyingActivitiesInd0false
IRS990/LocalChaptersInd0false
IRS990/MaterialDiversionOrMisuseInd0false
IRS990/MembersOrStockholdersInd0false
IRS990/MethodOfAccountingAccrualInd0X
IRS990/MinutesOfCommitteesInd0true
IRS990/MinutesOfGoverningBodyInd0true
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"!
IRS990/MoreThan5000KToIndividualsInd0false
IRS990/MoreThan5000KToOrgInd0false
IRS990/NetAssetsOrFundBalancesBOYAmt02009398
IRS990/NetAssetsOrFundBalancesEOYAmt02209934
IRS990/NetGainOrLossInvestmentsGrp/TotalRevenueColumnAmt00
IRS990/NetIncmFromFundraisingEvtGrp/TotalRevenueColumnAmt00
IRS990/NetIncomeFromGamingGrp/TotalRevenueColumnAmt00
IRS990/NetIncomeOrLossGrp/TotalRevenueColumnAmt00
IRS990/NetRentalIncomeOrLossGrp/TotalRevenueColumnAmt00
IRS990/NoDonorRestrictionNetAssetsGrp/BOYAmt02009398
IRS990/NoDonorRestrictionNetAssetsGrp/EOYAmt02209934
IRS990/NondeductibleContributionsInd0false
IRS990/OccupancyGrp/ManagementAndGeneralAmt069113
IRS990/OccupancyGrp/ProgramServicesAmt0423494
IRS990/OccupancyGrp/TotalAmt0492607
IRS990/OfficeExpensesGrp/ManagementAndGeneralAmt014206
IRS990/OfficeExpensesGrp/ProgramServicesAmt0123239
IRS990/OfficeExpensesGrp/TotalAmt0137445
IRS990/OfficerMailingAddressInd0false
IRS990/OperateHospitalInd0false
IRS990/Organization501c3Ind0X
IRS990/OrganizationFollowsFASB117Ind0X
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IRS990/OtherEmployeeBenefitsGrp/ManagementAndGeneralAmt0120856
IRS990/OtherEmployeeBenefitsGrp/ProgramServicesAmt0740557
IRS990/OtherEmployeeBenefitsGrp/TotalAmt0861413
IRS990/OtherExpensesGrp/Desc0School curriculum supplies
IRS990/OtherExpensesGrp/Desc1Field trips
IRS990/OtherExpensesGrp/Desc2Staff development & training
IRS990/OtherExpensesGrp/Desc3Repairs & maintenance
IRS990/OtherExpensesGrp/ManagementAndGeneralAmt04294
IRS990/OtherExpensesGrp/ManagementAndGeneralAmt12304
IRS990/OtherExpensesGrp/ProgramServicesAmt0254820
IRS990/OtherExpensesGrp/ProgramServicesAmt164765
IRS990/OtherExpensesGrp/ProgramServicesAmt226309
IRS990/OtherExpensesGrp/ProgramServicesAmt314121
IRS990/OtherExpensesGrp/TotalAmt0254820
IRS990/OtherExpensesGrp/TotalAmt164765
IRS990/OtherExpensesGrp/TotalAmt230603
IRS990/OtherExpensesGrp/TotalAmt316425
IRS990/OtherRevenueTotalAmt00
IRS990/OtherSalariesAndWagesGrp/ManagementAndGeneralAmt0351149
IRS990/OtherSalariesAndWagesGrp/ProgramServicesAmt02971078
IRS990/OtherSalariesAndWagesGrp/TotalAmt03322227
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IRS990/OwnWebsiteInd0X
IRS990/PartialLiquidationInd0false
IRS990/PaymentsToAffiliatesGrp/TotalAmt00
IRS990/PayPremiumsPrsnlBnftCntrctInd0false
IRS990/PayrollTaxesGrp/ManagementAndGeneralAmt033567
IRS990/PayrollTaxesGrp/ProgramServicesAmt0205686
IRS990/PayrollTaxesGrp/TotalAmt0239253
IRS990/PensionPlanContributionsGrp/TotalAmt00
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IRS990/PledgesAndGrantsReceivableGrp/EOYAmt025418
IRS990/PoliticalCampaignActyInd0false
IRS990/PrepaidExpensesDefrdChargesGrp/EOYAmt00
IRS990/PrincipalOfficerNm0Rosalind Lockwood
IRS990/ProfessionalFundraisingInd0false
IRS990/ProgramServiceRevenueGrp/Desc0Per pupil revenue
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt03578461
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt03578461
IRS990/ProhibitedTaxShelterTransInd0false
IRS990/PYContributionsGrantsAmt02369979
IRS990/PYExcessBenefitTransInd0false
IRS990/PYInvestmentIncomeAmt052
IRS990/PymtTravelEntrtnmntPubOfclGrp/TotalAmt00
IRS990/PYOtherExpensesAmt01417856
IRS990/PYProgramServiceRevenueAmt03898158
IRS990/PYRevenuesLessExpensesAmt0287339
IRS990/PYSalariesCompEmpBnftPaidAmt04562994
IRS990/PYTotalExpensesAmt05980850
IRS990/PYTotalRevenueAmt06268189
IRS990/QuidProQuoContributionsInd0false
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IRS990/ReceivablesFromOfficersEtcGrp/EOYAmt00
IRS990/ReconcilationRevenueExpnssAmt0200536
IRS990/RegularMonitoringEnfrcInd0true
IRS990/RelatedEntityInd0false
IRS990/RelatedOrganizationCtrlEntInd0false
IRS990/ReportInvestmentsOtherSecInd0false
IRS990/ReportLandBuildingEquipmentInd0true
IRS990/ReportOtherAssetsInd0false
IRS990/ReportOtherLiabilitiesInd0false
IRS990/ReportProgramRelatedInvstInd0false
IRS990/RevenueAmt03578461
IRS990/RoyaltiesGrp/TotalAmt00
IRS990/RoyaltiesRevenueGrp/TotalRevenueColumnAmt00
IRS990/SavingsAndTempCashInvstGrp/BOYAmt0515674
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IRS990ScheduleA/SchoolInd0X
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IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/AddressLine10RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/AddressLine20RESTRICTED
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IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/State0RESTRICTED
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IRS990ScheduleD/DonatedServicesUseFcltsAmt0264947
IRS990ScheduleD/EquipmentGrp/BookValueAmt053375
IRS990ScheduleD/EquipmentGrp/DepreciationAmt0795907
IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt0849282
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IRS990ScheduleD/LeaseholdImprovementsGrp/OtherCostOrOtherBasisAmt0886616
IRS990ScheduleD/RevenueNotReportedAmt0264947
IRS990ScheduleD/RevenueSubtotalAmt06346529
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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IRS990ScheduleD/TotalExpensesPerForm990Amt06145993
IRS990ScheduleD/TotalRevenuePerForm990Amt06346529
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt06611476
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt06410940
IRS990ScheduleE/ComplianceWithRevProc7550Ind0true
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/ExplanationTxt0Website
IRS990ScheduleE/SupplementalInformationDetail/ExplanationTxt1Receives financial aid from government agencies.
IRS990ScheduleE/SupplementalInformationDetail/FormAndLineReferenceDesc0Schedule E, Line 3 - Racially Nondiscriminatory Policy Publicized

Document Assets

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Filings

Displayed year

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

Open filing
Assets
$2,272,064
Liabilities
$62,130
Net assets
$2,209,934
Revenue
$6,346,529
Expenses
$6,145,993
Net income
$200,536
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$4.45$0.44$4.02$8.80$7.73$1.06
2023XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$3.68$0.73$2.95$7.76$7.02$0.74
2022Detailed filing. Detailed filing data is available for this year.$2.27$0.06$2.21$6.35$6.15$0.20
2021XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$2.05$0.04$2.01$6.27$5.98$0.29
2020XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$1.81$0.09$1.72$5.88$5.73$0.15
2019Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.69$0.12$1.57$5.54$5.94$0.40
2018XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$2.01$0.03$1.97$5.76$5.79$0.02
2017XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$2.08$0.08$2.00$5.92$5.79$0.13
2016XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$1.88$0.02$1.86$5.63$5.57$0.05
2015Detailed filing. Detailed filing data is available for this year.$1.82$0.02$1.81$5.73$6.02$0.30