Civic Intelligence

Cambridge Prep Academy Incorporated

990 • Fiscal year 2023 • EIN 45-4360430

Jul 01, 2022 to Jun 30, 2023 • Filed on May 14, 2024

Organization ProfileN/A
2658 SW Main BlvdLake City, FL 32025

(386) 243-8285

Siviq Scores

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

Liabilities / Assets

95th percentile

1.15x

Higher debt load relative to assets than 95% of similar nonprofits.

2023 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2023

Liabilities / Revenue

81st percentile

0.52x

Higher debt load relative to revenue than 81% of similar nonprofits.

2023 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2023

Net Margin

22nd percentile

-11%

Higher net margin than 22% of similar nonprofits.

2023 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2023

Top Officer Pay

39th percentile

$0

Higher top officer pay than 39% of similar nonprofits.

Top officer pay equals 0.0% of source-year revenue.

2023 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2023

Asset Growth

70th percentile

15%

Faster asset growth than 70% of similar nonprofits.

2023 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2022 to 2023

Revenue Growth

69th percentile

22%

Faster revenue growth than 69% of similar nonprofits.

2023 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2022 to 2023

Balance Sheet
Liabilities / Assets95th percentile

Assets

Up

$624,661

Up $79,485 (+15%) from 2022

Net Assets

Down

-$91,181

Down $155,104 (-243%) from 2022

Liabilities

Up

$715,842

Up $234,589 (+49%) from 2022

Revenue And Expenses
Liabilities / Revenue81st percentileNet Margin22nd percentile

Revenue

Up

$1,380,347

Up $251,897 (+22%) from 2022

Expenses

Up

$1,535,451

Up $426,722 (+38%) from 2022

Net Income

Down

-$155,104

Down $174,825 (-886%) from 2022

Historical Trend

Balance Sheet Trend

Asset Growth70th percentile

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

$1.0M$500K$0-$500KAssets 2012: $1,359Liabilities 2012: $02012Assets 2013: -$140Liabilities 2013: $02013Assets 2014: $5,491Liabilities 2014: $5,015Net Assets 2014: $4762014Assets 2015: $1,449Liabilities 2015: $9,700Net Assets 2015: -$8,2512015Assets 2016: $52,757Liabilities 2016: $47,156Net Assets 2016: $5,6012016Assets 2017: $67,909Liabilities 2017: $46,540Net Assets 2017: $21,3692017Assets 2018: $117,865Liabilities 2018: $105,274Net Assets 2018: $12,5912018Assets 2019: $219,959Liabilities 2019: $245,200Net Assets 2019: -$25,2412019Assets 2020: $272,392Liabilities 2020: $351,522Net Assets 2020: -$79,1302020Assets 2021: $305,804Liabilities 2021: $261,602Net Assets 2021: $44,2022021Assets 2022: $545,176Liabilities 2022: $481,253Net Assets 2022: $63,9232022Assets 2023: $624,661Liabilities 2023: $715,842Net Assets 2023: -$91,1812023Assets 2024: $667,871Liabilities 2024: $791,954Net Assets 2024: -$124,0832024

Highlighted filing

2023

Assets$624,661
Liabilities$715,842
Net Assets-$91,181
Open 2023 Filing

Operations Trend

Revenue Growth69th percentile

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

$2.0M$1.5M$1.0M$500K$0-$500KRevenue 2012: $4,575Expenses 2012: $3,216Net Income 2012: $1,3592012Revenue 2013: $74,046Expenses 2013: $75,545Net Income 2013: -$1,4992013Revenue 2014: $106,934Expenses 2014: $106,318Net Income 2014: $6162014Revenue 2015: $133,713Expenses 2015: $142,440Net Income 2015: -$8,7272015Revenue 2016: $293,028Expenses 2016: $279,175Net Income 2016: $13,8532016Revenue 2017: $395,110Expenses 2017: $379,342Net Income 2017: $15,7682017Revenue 2018: $583,749Expenses 2018: $592,527Net Income 2018: -$8,7782018Revenue 2019: $751,310Expenses 2019: $789,142Net Income 2019: -$37,8322019Revenue 2020: $827,647Expenses 2020: $881,517Net Income 2020: -$53,8702020Revenue 2021: $975,895Expenses 2021: $852,563Net Income 2021: $123,3322021Revenue 2022: $1,128,450Expenses 2022: $1,108,729Net Income 2022: $19,7212022Revenue 2023: $1,380,347Expenses 2023: $1,535,451Net Income 2023: -$155,1042023Revenue 2024: $1,125,059Expenses 2024: $1,157,961Net Income 2024: -$32,9022024

Highlighted filing

2023

Revenue$1,380,347
Expenses$1,535,451
Net Income-$155,104
Open 2023 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2022 to Jun 30, 2023
Signed
May 14, 2024
Return Version
2022v5.0
Gross Receipts
$1,380,347
Mission and Program Overview

Mission

Combining Florida Virtual's award-winning curriculum with our exceptional teachers,

Combining florida virtual's award winning curriculum with our exceptional teachers, our amazing support team, and individualized learning approach for every student. Cambridge puts in motion a complete program tailored to helping children learn and excel.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$504,657$513,598▲ $8,941
Cash and Non-Interest-Bearing Accounts$19,122$65,534▲ $46,412
Accounts Receivable$21,397$45,529▲ $24,132
Total Assets$545,176$624,661▲ $79,485
Liabilities
Mortgage Notes Payable Secured by Investment Property$435,914$422,374▼ $13,540
Accounts Payable and Accrued Expenses-$205,604-
Other Liabilities$45,339$87,864▲ $42,525
Total Liabilities$481,253$715,842▲ $234,589
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$63,923$-91,181▼ $155,104
Total Net Assets Fund Balance$63,923$-91,181▼ $155,104
Total Liabilities and Net Assets / Fund Balance$545,176$624,661▲ $79,485

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$94,834$35,464-
Land$28,000--
Equipment$87,843--
Leasehold Improvements$302,921--
Compensation and Service Providers
Top Officer Pay39th percentile

Board Members and Trustees

NameTitle
Jackie BrittPresident
Courtney JohnsDirector
Linda VandervorenDirector
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$1,355,721
Investment Income
$0
Other Revenue
$24,626
Change in Net Assets
$-155,104
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$836,111
Other Expenses$699,340
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$675,239--$675,239
All Other Expenses$32,101$143,054-$175,155
Other Employee Benefits$110,002--$110,002
Occupancy-$91,688-$91,688
Other Expenses$46,156$8,319-$54,475
Payroll Taxes$50,870--$50,870
Insurance-$10,916-$10,916
Conferences and Meetings$6,674--$6,674
Travel$4,652--$4,652
Fees for Services Accounting-$4,310-$4,310
Advertising-$2,242-$2,242
Total Functional Expenses$935,971$599,480$0$1,535,451
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
Payroll Taxes$87,864
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
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
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, Section B, Line 11B

“The board is responsible for reviewing the 990 prior to submission.”

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

“Organization is very small school where president and board are very hands-on in operations.”

Form 990, Part VI, Section C, Line 19

“Governing documents, conflict of interest policy and financial statements are available upon requests.”

Filing and Contact Details

Filer

Filer Name
Cambridge Prep Academy Inc
EIN
45-4360430
Phone
3862438285
Address
2658 SW MAIN BLVD, LAKE CITY, FL 32025

Signing Officer

Name
Jackie Britt
Title
President
Phone
3862438285
Signed
2024-05-14
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Jackie Britt
Formed
2011
Legal Domicile
Fl
Voting Board Members
3
Independent Board Members
3
Employees
0
Volunteers
0

Preparer

Firm
Powell & Jones CPA
Address
1359 SW MAIN BLVD, LAKE CITY, FL 32025
Preparer
Richard Powell
Phone
3867554200
Supplemental Narrative

Additional Explanations

Form 990, Part IX, Line 24E

“Building: program service expenses 0. Management and general expenses 52,713. Fundraising expenses 0. Total expenses 52,713. Utilities: program service expenses 0. Management and general expenses 45,332. Fundraising expenses 0. Total expenses 45,332. Programming expenses: program service expenses 26,422. Management and general expenses 0. Fundraising expenses 0. Total expenses 26,422. Janitorial sv: program service expenses 0. Management and general expenses 17,515. Fundraising expenses 0. Total expenses 17,515. Other costs: program service expenses 5,679. Management and general expenses 11,735. Fundraising expenses 0. Total expenses 17,414. Telephone: program service expenses 0. Management and general expenses 15,759. Fundraising expenses 0. Total expenses 15,759.”

Financial Statement Notes

Form 990 Page 4 Line 11D

“PAYROLL TAXES 87993”

Raw XML Appendix339 raw XML fields

This appendix keeps the raw XML leaves available for debugging and edge-case review. The human report above is the primary experience.

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IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990 PAGE 4 LINE 11D
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IRS990ScheduleE/SupplementalInformationDetail/ExplanationTxt0ORGANIZATION RECEIVES FLORIDA TAX CREDIT TUITION ASSISTANCE FUNDS FOR ELIGIBILE STUDENTS
IRS990ScheduleE/SupplementalInformationDetail/FormAndLineReferenceDesc0SCHEDULE E, PART I, LINE 6
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0THE BOARD IS RESPONSIBLE FOR REVIEWING THE 990 PRIOR TO SUBMISSION.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1ORGANIZATION IS VERY SMALL SCHOOL WHERE PRESIDENT AND BOARD ARE VERY HANDS-ON IN OPERATIONS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY AND FINANCIAL STATEMENTS ARE AVAILABLE UPON REQUESTS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3BUILDING: PROGRAM SERVICE EXPENSES 0. MANAGEMENT AND GENERAL EXPENSES 52,713. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 52,713. UTILITIES: PROGRAM SERVICE EXPENSES 0. MANAGEMENT AND GENERAL EXPENSES 45,332. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 45,332. PROGRAMMING EXPENSES: PROGRAM SERVICE EXPENSES 26,422. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 26,422. JANITORIAL SV: PROGRAM SERVICE EXPENSES 0. MANAGEMENT AND GENERAL EXPENSES 17,515. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 17,515. OTHER COSTS: PROGRAM SERVICE EXPENSES 5,679. MANAGEMENT AND GENERAL EXPENSES 11,735. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 17,414. TELEPHONE: PROGRAM SERVICE EXPENSES 0. MANAGEMENT AND GENERAL EXPENSES 15,759. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 15,759.
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 C, LINE 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PART IX, LINE 24E
IRS990/SchoolOperatingInd01
IRS990/SignificantChangeInd00
IRS990/SignificantNewProgramSrvcInd00
IRS990/SubjectToExcsTaxNetInvstIncInd00
IRS990/SubjectToProxyTaxInd00
IRS990/SubjToTaxRmnrtnExPrchtPymtInd00
IRS990/TaxablePartyNotificationInd00
IRS990/TaxExemptBondsInd00
IRS990/TerminateOperationsInd00
IRS990/TotalAssetsBOYAmt0545176
IRS990/TotalAssetsEOYAmt0624661
IRS990/TotalAssetsGrp/BOYAmt0545176
IRS990/TotalAssetsGrp/EOYAmt0624661
IRS990/TotalCompGreaterThan150KInd00
IRS990/TotalEmployeeCnt00
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt0599480
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0935971
IRS990/TotalFunctionalExpensesGrp/TotalAmt01535451
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt0481253
IRS990/TotalLiabilitiesEOYAmt0715842
IRS990/TotalLiabilitiesGrp/BOYAmt0481253
IRS990/TotalLiabilitiesGrp/EOYAmt0715842
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt063923
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt0-91181
IRS990/TotalOtherCompensationAmt00
IRS990/TotalProgramServiceExpensesAmt0935971
IRS990/TotalProgramServiceRevenueAmt01355721
IRS990/TotalReportableCompFromOrgAmt00
IRS990/TotalRevenueGrp/ExclusionAmt00
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt01380347
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt01380347
IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt00
IRS990/TotalVolunteersCnt00
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt0545176
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt0624661
IRS990/TotReportableCompRltdOrgAmt00
IRS990/TravelGrp/ProgramServicesAmt04652
IRS990/TravelGrp/TotalAmt04652
IRS990/TrnsfrExmptNonChrtblRltdOrgInd00
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd00
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt02658 SW MAIN BLVD
IRS990/USAddress/CityNm0LAKE CITY
IRS990/USAddress/StateAbbreviationCd0FL
IRS990/USAddress/ZIPCd032025
IRS990/VotingMembersGoverningBodyCnt03
IRS990/VotingMembersIndependentCnt03
IRS990/WebsiteAddressTxt0N/A
IRS990/WhistleblowerPolicyInd00
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/AuthenticationAssuranceLevelCd0AAL1
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/IdentityAssuranceLevelCd0IAL1
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/TrustedCustomerCd02
ReturnHeader/BuildTS02023-04-26 12:10:37Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd01
ReturnHeader/BusinessOfficerGrp/PersonNm0JACKIE BRITT
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0PRESIDENT
ReturnHeader/BusinessOfficerGrp/PhoneNum03862438285
ReturnHeader/BusinessOfficerGrp/SignatureDt02024-05-14
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0CAMBRIDGE PREP ACADEMY INC
ReturnHeader/Filer/BusinessNameControlTxt0CAMB
ReturnHeader/Filer/EIN0454360430
ReturnHeader/Filer/PhoneNum03862438285
ReturnHeader/Filer/USAddress/AddressLine1Txt02658 SW MAIN BLVD
ReturnHeader/Filer/USAddress/CityNm0LAKE CITY
ReturnHeader/Filer/USAddress/StateAbbreviationCd0FL
ReturnHeader/Filer/USAddress/ZIPCd032025
ReturnHeader/IRSResponsiblePrtyInfoCurrInd00
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0592145410
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0POWELL & JONES CPA
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt01359 SW MAIN BLVD
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0LAKE CITY
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0FL
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd032025
ReturnHeader/PreparerPersonGrp/PhoneNum03867554200
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0RICHARD POWELL
ReturnHeader/ReturnTs02024-05-14T15:35:41-05:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonFirstNm0JACKIE
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonLastNm0BRITT
ReturnHeader/TaxPeriodBeginDt02022-07-01
ReturnHeader/TaxPeriodEndDt02023-06-30
ReturnHeader/TaxYr02022

Document Assets

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Filings

Displayed year

2023 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$624,661
Liabilities
$715,842
Net assets
-$91,181
Revenue
$1,380,347
Expenses
$1,535,451
Net income
-$155,104
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.67$0.79$0.12$1.13$1.16$0.03
2023Detailed filing. Detailed filing data is available for this year.$0.62$0.72$0.09$1.38$1.54$0.16
2022XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.55$0.48$0.06$1.13$1.11$0.02
2021Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.31$0.26$0.04$0.98$0.85$0.12
2020Summary only. Only limited summary data is available for this year.$0.27$0.35$0.08$0.83$0.88$0.05
2019Summary only. Only limited summary data is available for this year.$0.22$0.25$0.03$0.75$0.79$0.04
2018XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.12$0.11$0.01$0.58$0.59$0.01
2017Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.07$0.05$0.02$0.40$0.38$0.02
2016Detailed filing. Detailed filing data is available for this year.$0.05$0.05$0.01$0.29$0.28$0.01
2015Detailed filing. Detailed filing data is available for this year.$0.00$0.01$0.01$0.13$0.14$0.01
2014Detailed filing. Detailed filing data is available for this year.$0.01$0.01$0.00$0.11$0.11$0.00
2013Summary only. Only limited summary data is available for this year.$0.00$0.00$0.07$0.08$0.00
2012Summary only. Only limited summary data is available for this year.$0.00$0.00$0.00$0.00$0.00