Civic Intelligence

Classical Preparatory Inc

990 • Fiscal year 2021 • EIN 45-2805451

Jul 01, 2020 to Jun 30, 2021 • Filed on Jan 03, 2022

Organization Profilewww.classicalprep.org
16500 Lyceum LaneSpring Hill, FL 34610

(813) 803-7903

Siviq Scores

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

Liabilities / Assets

94th percentile

1.01x

Higher debt load relative to assets than 94% of similar nonprofits.

2021 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2021

Liabilities / Revenue

89th percentile

2.26x

Higher debt load relative to revenue than 89% of similar nonprofits.

2021 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2021

Net Margin

38th percentile

6.7%

Higher net margin than 38% of similar nonprofits.

2021 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2021

Top Officer Pay

Score unavailable

No value available

This filing does not contain officer compensation rows.

Source year 2021

Asset Growth

25th percentile

1.0%

Faster asset growth than 25% of similar nonprofits.

2021 filings • 501(c)3 • $10M-$25M nonprofits • Annualized from 2020 to 2021

Revenue Growth

52nd percentile

14%

Faster revenue growth than 52% of similar nonprofits.

2021 filings • 501(c)3 • $10M-$25M nonprofits • Annualized from 2020 to 2021

Balance Sheet
Liabilities / Assets94th percentile

Assets

Up

$19,069,249

Up $179,555 (+1.0%) from 2020

Net Assets

Up

-$157,803

Up $567,350 (+78%) from 2020

Liabilities

Down

$19,227,052

Down $387,795 (-2.0%) from 2020

Revenue And Expenses
Liabilities / Revenue89th percentileNet Margin38th percentile

Revenue

Up

$8,506,904

Up $1,015,814 (+14%) from 2020

Expenses

Up

$7,939,554

Up $513,380 (+6.9%) from 2020

Net Income

Up

$567,350

Up $502,434 (+774%) from 2020

Historical Trend

Balance Sheet Trend

Asset Growth25th percentile

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

$30M$20M$10M$0-$10MAssets 2015: $214,257Liabilities 2015: $108,070Net Assets 2015: $106,1872015Assets 2016: $321,580Liabilities 2016: $112,804Net Assets 2016: $208,7762016Assets 2017: $10,349,524Liabilities 2017: $10,563,894Net Assets 2017: -$214,3702017Assets 2018: $13,903,332Liabilities 2018: $14,833,046Net Assets 2018: -$929,7142018Assets 2019: $13,929,179Liabilities 2019: $14,719,248Net Assets 2019: -$790,0692019Assets 2020: $18,889,694Liabilities 2020: $19,614,847Net Assets 2020: -$725,1532020Assets 2021: $19,069,249Liabilities 2021: $19,227,052Net Assets 2021: -$157,8032021Assets 2022: $18,926,343Liabilities 2022: $18,804,428Net Assets 2022: $121,9152022Assets 2023: $19,646,957Liabilities 2023: $18,480,358Net Assets 2023: $1,166,5992023Assets 2024: $20,121,057Liabilities 2024: $18,086,107Net Assets 2024: $2,034,9502024Assets 2025: $20,889,423Liabilities 2025: $17,690,696Net Assets 2025: $3,198,7272025

Highlighted filing

2021

Assets$19,069,249
Liabilities$19,227,052
Net Assets-$157,803
Open 2021 Filing

Operations Trend

Revenue Growth52nd percentile

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

$15M$10M$5.0M$0-$5.0MRevenue 2015: $2,311,467Expenses 2015: $2,205,280Net Income 2015: $106,1872015Revenue 2016: $3,208,712Expenses 2016: $3,106,123Net Income 2016: $102,5892016Revenue 2017: $3,527,778Expenses 2017: $3,950,924Net Income 2017: -$423,1462017Revenue 2018: $5,048,242Expenses 2018: $5,763,586Net Income 2018: -$715,3442018Revenue 2019: $6,572,674Expenses 2019: $6,433,029Net Income 2019: $139,6452019Revenue 2020: $7,491,090Expenses 2020: $7,426,174Net Income 2020: $64,9162020Revenue 2021: $8,506,904Expenses 2021: $7,939,554Net Income 2021: $567,3502021Revenue 2022: $9,196,232Expenses 2022: $8,916,514Net Income 2022: $279,7182022Revenue 2023: $10,570,881Expenses 2023: $9,526,197Net Income 2023: $1,044,6842023Revenue 2024: $11,569,192Expenses 2024: $10,700,841Net Income 2024: $868,3512024Revenue 2025: $11,387,068Expenses 2025: $10,120,714Net Income 2025: $1,266,3542025

Highlighted filing

2021

Revenue$8,506,904
Expenses$7,939,554
Net Income$567,350
Open 2021 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2020 to Jun 30, 2021
Signed
Jan 3, 2022
Return Version
2020v4.1
Gross Receipts
$8,537,979
Mission and Program Overview

Mission

To operate a public charter in pasco county, florida.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$15,304,273$15,316,483▲ $12,210
Rtn Earn Endowment Incm Other Fnds$3,098,782$3,352,459▲ $253,677
Cash and Non-Interest-Bearing Accounts$1,251,636$1,846,960▲ $595,324
Savings and Temporary Cash Investments$2,204,103$1,691,469▼ $512,634
Pledges and Grants Receivable$55,142$167,329▲ $112,187
Other Notes and Loans Receivable, Net$71,127--
Accounts Receivable-$47,008-
Prepaid Expenses and Deferred Charges$3,413--
Pd in Cap Srpls Land Bldg Eqp Fund$-3,823,935$-3,510,262▲ $313,673
Total Assets$18,889,694$19,069,249▲ $179,555
Liabilities
Tax Exempt Bond Liabilities$19,128,208$18,826,745▼ $301,463
Accounts Payable and Accrued Expenses$486,639$400,307▼ $86,332
Other Liabilities-$0-
Total Liabilities$19,614,847$19,227,052▼ $387,795
Net Assets / Fund Balance
Total Net Assets Fund Balance$-725,153$-157,803▲ $567,350
Total Liabilities and Net Assets / Fund Balance$18,889,694$19,069,249▲ $179,555

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$14,611,055$1,263,904-
Other Land Buildings$56,020--
Land$550,000--
Equipment$99,408$103,276-
Compensation and Service Providers
Top Officer PayScore unavailable

Employees

NameTitleFull / Part TimeBaseTotal
Tina ErrtuhumHead of SchoolFT$112,000$112,000

Board Members and Trustees

NameTitle
James BlairChair
James GrantVice Chair
Amanda CroseAssistant Head of School
Stacie McintyreCOO
Will RodriguezSecretary
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$8,115,054
Investment Income
$0
Other Revenue
$391,850
Change in Net Assets
$567,350

Audited Revenue Reconciliation

Revenue per Audited Statements
$7,258,595
Total Revenue per Audited Statements
$7,258,595
Total Revenue per Form 990
$7,258,595
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$7,939,554
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Expenses$620,107$620,106$0$1,240,213
Interest$1,171,431$0$0$1,171,431
All Other Expenses$1,076,525$0$0$1,076,525
Depreciation Depletion$415,990$0$0$415,990
Total Functional Expenses$7,258,595$680,959$0$7,939,554

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$7,939,554
Total Expenses per Audited Statements$7,939,554
Total Expenses per Form 990$7,939,554
Fundraising, Events, and Gaming
Fundraising activities
Yes
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Gross Income$87,192
Fundraising Direct Expenses$31,075
Professional Fundraising Fees$0

Fundraising Events

EventGross ReceiptsGross RevenueDirect ExpensesNet Income
Boosterthon$87,192$87,192$31,075$56,117
Total Events$87,192$87,192$31,075$56,117
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Uncertain Tax Positions$0

Bond Issues

BondIssuerIssuedIssue PricePurpose
AClassical Preparatory Inc2017-01-31$10,275,000Land & building acquisition
CClassical Preparatory Inc2019-08-19$5,025,000Land & building acquisition
BClassical Preparatory Inc2018-04-01$4,550,000Land & building acquisition
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
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
No
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
Filing and Contact Details

Filer

Filer Name
Classical Preparatory Inc
EIN
45-2805451
Phone
8138037903
Address
16500 LYCEUM LANE, SPRING HILL, FL 34610

Signing Officer

Name
Stacie Mcintyre
Title
COO
Phone
8138037903
Signed
2022-01-03
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Stacie Mcintyre
Formed
2011
Legal Domicile
Fl
Voting Board Members
3
Independent Board Members
3
Employees
148
Volunteers
10

Preparer

Firm
Robert Walker CPA PA
Address
2803 W Busch Blvd Ste 106, Tampa, FL 33618
Preparer
Robert Walker CPA
Phone
8136248643
Supplemental Narrative

Additional Explanations

Pt VI, Line 11B

“The 990 is prepared by an independent cpa firm and a draft is provided to the finance committee for review. The final 990 is provided to the board for approval.”

Pt VI, Line 12C

“At each board meeting, the agenda is notated to remind board members to recuse from voting on any item that may be a conflict of interest.”

Pt VI, Line 15B

“The principal is paid in accordance with the school district's pay scale.”

Form 990, Part IX, Line 24E

“Facilities 17996. 17996. 0. 0.”

Form 990, Part IX, Line 24E

“Fiscal services 105683. 105683. 0. 0.”

Form 990, Part IX, Line 24E

“Instructional staff training 16252. 16252. 0. 0.”

Form 990, Part IX, Line 24E

“Student transportation 225. 225. 0. 0.”

Form 990, Part IX, Line 24E

“Operation of plant 819684. 819684. 0. 0.”

Form 990, Part IX, Line 24E

“Community services 81015. 81015. 0. 0.”

Form 990, Part IX, Line 24E

“Instructional media 35670. 35670. 0. 0.”

Financial Statement Notes

Pt X, Line 2

“The School is exempt from Federal tax under Section 501(c)(3) of the Internal Revenue Code. Accordingly, no provision for income taxes has been included in the accompanying financial statements. Additionally, no uncertain tax positions have been made requiring disclosure in the related note to financial statements. The Schools income tax returns for the past three years are subject to examination by tax authorities and may change upon examination.”

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IRS990ScheduleD/BuildingsGrp/DepreciationAmt01263904
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IRS990ScheduleD/EquipmentGrp/BookValueAmt099408
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IRS990ScheduleD/OtherLandBuildingsGrp/InvestmentCostOrOtherBasisAmt056020
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt00
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0UNCERTAIN TAX POSITIONS
IRS990ScheduleD/RevenueSubtotalAmt07258595
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0The School is exempt from Federal tax under Section 501(c)(3) of the Internal Revenue Code. Accordingly, no provision for income taxes has been included in the accompanying financial statements. Additionally, no uncertain tax positions have been made requiring disclosure in the related note to financial statements. The Schools income tax returns for the past three years are subject to examination by tax authorities and may change upon examination.
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IRS990ScheduleD/TotalLiabilityAmt00
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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/ExplanationTxt0RECEIVES GRANTS THROUGH THE FLORIDA DEPT OF EDUCATION
IRS990ScheduleE/SupplementalInformationDetail/ExplanationTxt1Has described its racially nondiscriminatory policies. NA
IRS990ScheduleE/SupplementalInformationDetail/FormAndLineReferenceDesc0Line 6b
IRS990ScheduleE/SupplementalInformationDetail/FormAndLineReferenceDesc1Line 3
IRS990ScheduleG/FundraisingEventInformationGrp/DirectExpenseSummaryEventsAmt031075
IRS990ScheduleG/FundraisingEventInformationGrp/Event1Nm0BOOSTERTHON
IRS990ScheduleG/FundraisingEventInformationGrp/GrossReceiptsEvent1Amt087192
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IRS990ScheduleG/FundraisingEventInformationGrp/GrossRevenueEvent1Amt087192
IRS990ScheduleG/FundraisingEventInformationGrp/GrossRevenueTotalEventsAmt087192
IRS990ScheduleG/FundraisingEventInformationGrp/NetIncomeSummaryAmt056117
IRS990ScheduleG/FundraisingEventInformationGrp/OthDirectExpnssTotalEventsAmt031075
IRS990ScheduleG/FundraisingEventInformationGrp/OtherDirectExpensesEvent1Amt031075
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IRS990ScheduleK/TaxExemptBondsIssuesGrp/BondIssuedDt02017-01-31
IRS990ScheduleK/TaxExemptBondsIssuesGrp/BondIssuedDt12018-04-01
IRS990ScheduleK/TaxExemptBondsIssuesGrp/BondIssuedDt22019-08-19
IRS990ScheduleK/TaxExemptBondsIssuesGrp/BondIssuerEIN0452805451
IRS990ScheduleK/TaxExemptBondsIssuesGrp/BondIssuerEIN1452805451
IRS990ScheduleK/TaxExemptBondsIssuesGrp/BondIssuerEIN2452805451
IRS990ScheduleK/TaxExemptBondsIssuesGrp/BondReferenceCd0A
IRS990ScheduleK/TaxExemptBondsIssuesGrp/BondReferenceCd1B
IRS990ScheduleK/TaxExemptBondsIssuesGrp/BondReferenceCd2C
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IRS990ScheduleK/TaxExemptBondsIssuesGrp/CUSIPNum1452805451
IRS990ScheduleK/TaxExemptBondsIssuesGrp/CUSIPNum2452805451
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IRS990ScheduleK/TaxExemptBondsIssuesGrp/IssuePriceAmt14550000
IRS990ScheduleK/TaxExemptBondsIssuesGrp/IssuePriceAmt25025000
IRS990ScheduleK/TaxExemptBondsIssuesGrp/IssuerName/BusinessNameLine1Txt0CLASSICAL PREPARATORY INC
IRS990ScheduleK/TaxExemptBondsIssuesGrp/IssuerName/BusinessNameLine1Txt1CLASSICAL PREPARATORY INC
IRS990ScheduleK/TaxExemptBondsIssuesGrp/IssuerName/BusinessNameLine1Txt2CLASSICAL PREPARATORY INC
IRS990ScheduleK/TaxExemptBondsIssuesGrp/OnBehalfOfIssuerInd0false
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IRS990ScheduleK/TaxExemptBondsIssuesGrp/OnBehalfOfIssuerInd2false
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IRS990ScheduleK/TaxExemptBondsIssuesGrp/PoolFinancingInd2false
IRS990ScheduleK/TaxExemptBondsIssuesGrp/PurposeDesc0LAND & BUILDING ACQUISITION
IRS990ScheduleK/TaxExemptBondsIssuesGrp/PurposeDesc1LAND & BUILDING ACQUISITION
IRS990ScheduleK/TaxExemptBondsIssuesGrp/PurposeDesc2LAND & BUILDING ACQUISITION
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IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/LoanPurposeTxt0OPERATIONS
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IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/RelationshipWithOrgTxt0SAME BOARD
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0THE 990 IS PREPARED BY AN INDEPENDENT CPA FIRM AND A DRAFT IS PROVIDED TO THE FINANCE COMMITTEE FOR REVIEW. THE FINAL 990 IS PROVIDED TO THE BOARD FOR APPROVAL.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1AT EACH BOARD MEETING, THE AGENDA IS NOTATED TO REMIND BOARD MEMBERS TO RECUSE FROM VOTING ON ANY ITEM THAT MAY BE A CONFLICT OF INTEREST.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2THE PRINCIPAL IS PAID IN ACCORDANCE WITH THE SCHOOL DISTRICT'S PAY SCALE.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3FACILITIES 17996. 17996. 0. 0.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4FISCAL SERVICES 105683. 105683. 0. 0.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5INSTRUCTIONAL STAFF TRAINING 16252. 16252. 0. 0.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt6STUDENT TRANSPORTATION 225. 225. 0. 0.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt7OPERATION OF PLANT 819684. 819684. 0. 0.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt8COMMUNITY SERVICES 81015. 81015. 0. 0.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt9INSTRUCTIONAL MEDIA 35670. 35670. 0. 0.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0Pt VI, Line 11b
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1Pt VI, Line 12c
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2Pt VI, Line 15b
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3Form 990, Part IX, Line 24e
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4Form 990, Part IX, Line 24e
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5Form 990, Part IX, Line 24e
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc6Form 990, Part IX, Line 24e
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc7Form 990, Part IX, Line 24e
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc8Form 990, Part IX, Line 24e
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc9Form 990, Part IX, Line 24e
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IRS990/TotalAssetsGrp/EOYAmt019069249
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IRS990/TotalEmployeeCnt0148
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IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt07258595
IRS990/TotalFunctionalExpensesGrp/TotalAmt07939554
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IRS990/TotalLiabilitiesGrp/BOYAmt019614847
IRS990/TotalLiabilitiesGrp/EOYAmt019227052
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IRS990/TotalProgramServiceRevenueAmt08115054
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Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Displayed year

2021 • Form 990Facts available. Structured filing facts are available, but richer extracted sections are limited.

Open filing
Assets
$19,069,249
Liabilities
$19,227,052
Net assets
-$157,803
Revenue
$8,506,904
Expenses
$7,939,554
Net income
$567,350
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2025Detailed filing. Detailed filing data is available for this year.$20.9$17.7$3.20$11.4$10.1$1.27
2024Detailed filing. Detailed filing data is available for this year.$20.1$18.1$2.03$11.6$10.7$0.87
2023Detailed filing. Detailed filing data is available for this year.$19.6$18.5$1.17$10.6$9.53$1.04
2022Detailed filing. Detailed filing data is available for this year.$18.9$18.8$0.12$9.20$8.92$0.28
2021Facts available. Structured filing facts are available, but richer extracted sections are limited.$19.1$19.2$0.16$8.51$7.94$0.57
2020Detailed filing. Detailed filing data is available for this year.$18.9$19.6$0.73$7.49$7.43$0.06
2019Detailed filing. Detailed filing data is available for this year.$13.9$14.7$0.79$6.57$6.43$0.14
2018Detailed filing. Detailed filing data is available for this year.$13.9$14.8$0.93$5.05$5.76$0.72
2017Detailed filing. Detailed filing data is available for this year.$10.3$10.6$0.21$3.53$3.95$0.42
2016Detailed filing. Detailed filing data is available for this year.$0.32$0.11$0.21$3.21$3.11$0.10
2015Detailed filing. Detailed filing data is available for this year.$0.21$0.11$0.11$2.31$2.21$0.11