Civic Intelligence

Akron Preparatory School

990 • Fiscal year 2017 • EIN 46-0609373

Jul 01, 2016 to Jun 30, 2017 • Filed on Apr 24, 2018

1200 East Market St Ste 3360Akron, OH 44316

(216) 453-4558

Siviq Scores

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

Liabilities / Assets

99th percentile

2.48x

Higher debt load relative to assets than 99% of similar nonprofits.

2017 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2017

Liabilities / Revenue

90th percentile

1.96x

Higher debt load relative to revenue than 90% of similar nonprofits.

2017 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2017

Net Margin

9th percentile

-32%

Higher net margin than 9% of similar nonprofits.

2017 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2017

Top Officer Pay

35th percentile

$0

Higher top officer pay than 35% of similar nonprofits.

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

2017 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2017

Asset Growth

7th percentile

-18%

Faster asset growth than 7% of similar nonprofits.

2017 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2016 to 2017

Revenue Growth

51st percentile

4.8%

Faster revenue growth than 51% of similar nonprofits.

2017 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2016 to 2017

Assets

Down

$2,368,984

Down $510,749 (-18%) from 2016

Net Assets

Down

-$3,502,517

Down $956,941 (-38%) from 2016

Liabilities

Up

$5,871,501

Up $446,192 (+8.2%) from 2016

Revenue

Up

$3,002,334

Up $137,818 (+4.8%) from 2016

Expenses

Down

$3,959,275

Down $158,154 (-3.8%) from 2016

Net Income

Up

-$956,941

Up $295,972 (+24%) from 2016

Historical Trend

Balance Sheet Trend

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

$10M$5.0M$0-$5.0MAssets 2014: $609,832Liabilities 2014: $1,165,267Net Assets 2014: -$555,4352014Assets 2015: $2,713,044Liabilities 2015: $3,615,784Net Assets 2015: -$902,7402015Assets 2016: $2,879,733Liabilities 2016: $5,425,309Net Assets 2016: -$2,545,5762016Assets 2017: $2,368,984Liabilities 2017: $5,871,501Net Assets 2017: -$3,502,5172017Assets 2018: $1,579,455Liabilities 2018: $5,677,964Net Assets 2018: -$4,098,5092018Assets 2019: $948,237Liabilities 2019: $5,421,075Net Assets 2019: -$4,472,8382019Assets 2020: $589,079Liabilities 2020: $4,697,950Net Assets 2020: -$4,108,8712020Assets 2021: $1,542,425Liabilities 2021: $4,619,051Net Assets 2021: -$3,076,6262021Assets 2022: $1,752,209Liabilities 2022: $3,628,397Net Assets 2022: -$1,876,1882022Assets 2023: $1,908,229Liabilities 2023: $3,574,958Net Assets 2023: -$1,666,7292023Assets 2024: $1,927,896Liabilities 2024: $3,731,411Net Assets 2024: -$1,803,5152024

Highlighted filing

2017

Assets$2,368,984
Liabilities$5,871,501
Net Assets-$3,502,517

Operations Trend

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

$6.0M$4.0M$2.0M$0-$2.0MRevenue 2014: $2,222,593Expenses 2014: $2,778,028Net Income 2014: -$555,4352014Revenue 2015: $3,086,761Expenses 2015: $3,941,883Net Income 2015: -$855,1222015Revenue 2016: $2,864,516Expenses 2016: $4,117,429Net Income 2016: -$1,252,9132016Revenue 2017: $3,002,334Expenses 2017: $3,959,275Net Income 2017: -$956,9412017Revenue 2018: $1,974,371Expenses 2018: $1,838,551Net Income 2018: $135,8202018Revenue 2019: $2,264,265Expenses 2019: $2,638,594Net Income 2019: -$374,3292019Revenue 2020: $3,213,194Expenses 2020: $2,849,227Net Income 2020: $363,9672020Revenue 2021: $4,721,759Expenses 2021: $3,689,514Net Income 2021: $1,032,2452021Revenue 2022: $4,783,320Expenses 2022: $3,582,882Net Income 2022: $1,200,4382022Revenue 2023: $4,811,337Expenses 2023: $4,601,878Net Income 2023: $209,4592023Revenue 2024: $5,145,619Expenses 2024: $5,282,405Net Income 2024: -$136,7862024

Highlighted filing

2017

Revenue$3,002,334
Expenses$3,959,275
Net Income-$956,941
Jump To
Filing Snapshot
Filing Period
Jul 1, 2016 to Jun 30, 2017
Signed
Apr 24, 2018
Return Version
2016v3.0
Gross Receipts
$3,002,334
Mission and Program Overview

Mission

Our vision is to create a culture of high expectations for behavior and academics through rigorous, research-based curricula and a focus on achievement. It is our goal that Akron Preparatory School scholars will attend a college preparatory high school and ultimately gain acceptance to and graduate from a four year college. It is our expectation that 100% of APS graduates will positively affect change in their local communities while making a contribution to our global society.

The mission of Akron Preparatory School is to prepare students for a college preparatory high school that will ensure success and graduation from a four-year college.

Balance Sheet Detail
LineBeginningEndChange
Assets
Cash and Non-Interest-Bearing Accounts$0$87,810▲ $87,810
Land, Buildings, and Equipment, Net$109,952$54,977▼ $54,975
Prepaid Expenses and Deferred Charges$26,049$18,212▼ $7,837
Other Notes and Loans Receivable, Net$17,000--
Accounts Receivable$99,165$7,880▼ $91,285
Total Assets$2,879,733$2,368,984▼ $510,749
Other Assets Total$2,627,567$2,200,105▼ $427,462
Liabilities
Other Liabilities$4,409,756$4,753,466▲ $343,710
Unsecured Notes Loans Payable$596,701$533,200▼ $63,501
Accounts Payable and Accrued Expenses$344,716$510,699▲ $165,983
Mortgage Notes Payable Secured by Investment Property$74,136$74,136→ $0
Total Liabilities$5,425,309$5,871,501▲ $446,192
Net Assets / Fund Balance
Permanently Rstr Net Assets$109,952$54,977▼ $54,975
Temporarily Rstr Net Assets$17,000$18,212▲ $1,212
Unrestricted Net Assets$-2,672,528$-3,575,706▼ $903,178
Total Net Assets Fund Balance$-2,545,576$-3,502,517▼ $956,941
Total Liabilities and Net Assets / Fund Balance$2,879,733$2,368,984▼ $510,749

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$0$0$0
Other Land Buildings$0$36,771$0
Land$0-$0
Equipment$6,337$278,574$0
Leasehold Improvements$48,640$194,556$0
Other Assets Org$2,200,105--
Compensation and Service Providers

Board Members and Trustees

NameTitle
Audra JonesBoard Member
Bob ParinaBoard Member
Brian KenderesBoard Member
Kevin RayBoard Member

Highest Paid Contractors

ContractorServicesLocationCompensation
IRG RC Market HQ LLCRent1144 East Market St, Akron, OH 44305$415,888
Revenue and Support

Revenue Composition

Contributions and Grants
$3,002,334
Program Service Revenue
$0
Investment Income
$0
Other Revenue
$0
All Other Contributions
$3,002,334
Change in Net Assets
$-956,941

Audited Revenue Reconciliation

Revenue per Audited Statements
$3,002,334
Revenue Not Reported on Financial Statements
$0
Revenue Not Reported on Form 990
$0
Other Revenue Adjustments
$0
Total Revenue per Audited Statements
$3,002,334
Total Revenue per Form 990
$3,002,334
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$2,027,850
Salaries, Compensation, and Employee Benefits$1,931,425
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Employee Benefits$1,001,089--$1,001,089
Other Salaries and Wages$930,336--$930,336
Fees for Services Management$415,888--$415,888
Occupancy$391,939--$391,939
Interest$150,507--$150,507
Other Expenses$130,702$0$0$130,702
Fees for Services Other$95,556--$95,556
Depreciation Depletion$54,976--$54,976
Office Expenses$38,684--$38,684
Fees for Services Accounting$25,793--$25,793
Insurance$11,644--$11,644
Advertising$10,744--$10,744
Fees for Services Legal$10,550--$10,550
Travel$1,393--$1,393
Total Functional Expenses$3,959,275$0$0$3,959,275

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$3,959,275
Total Expenses per Audited Statements$3,959,275
Total Expenses per Form 990$3,959,275
Expenses Not Reported on Financial Statements$0
Expenses Not Reported on Form 990$0
Other Expense Adjustments$0
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
Net Pension Liability$3,687,922
Long Term Debt$782,893
Deferred Inflows of Resources$282,651
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 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
Yes

Governance Explanations

Form 990, Part VI, Section A, Line 3

The school contracted with a management company, ICAN Schools, to provide certain operational and management functions.

Form 990, Part VI, Section B, Line 11B

The Form 990 is prepared and reviewed by the fiscal officer. After the review of the Form 990, it is provided to the Board of Directors legal counsel for review. Once completed it is then provided to the Board President for final approval before the fiscal officer signs and files the return.

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

The Board of Directors, in conjunction with their legal counsel, consistently review compliance with federal and state regulations. In addition, the school is continuously monitored by its sponsor to ensure compliance with laws and regulations.

Form 990, Part VI, Section C, Line 19

The school's governing documents, conflict of interest policy and financial statements are maintained by its legal counsel and fiscal officer, and may be provided upon request.

Filing and Contact Details

Filer

Filer Name
Akron Preparatory School
EIN
46-0609373
Phone
2164534558
Address
1200 East Market St Ste 3360, Akron, OH 44316

Signing Officer

Name
David Massa
Title
Treasurer
Phone
3305150572
Signed
2018-04-24

Organization Details

Principal Officer
C David Massa
Formed
2013
Legal Domicile
Oh
Voting Board Members
4
Independent Board Members
4
Employees
53
Volunteers
0
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IRS990/Desc0The curriculum at Akron Preparatory School consists of 120 minutes of daily instruction in Reading and Mathematics and at least 60 minutes of Writing and Social Sciences. Our research-based program is aligned to the Ohio Common Core and is enhanced through a set of common instructional strategies that promote oral reading fluency, vocabulary, effective questioning, and reading comprehension across all content areas. Lesson objectives, vocabulary and homework are communicated to families via a syllabus that is sent home on a weekly basis giving our students and families a true feeling of a college-going learning environment.
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IRS990ScheduleD/BuildingsGrp/OtherCostOrOtherBasisAmt00
IRS990ScheduleD/DonatedServicesAndUseFcltsAmt00
IRS990ScheduleD/DonatedServicesUseFcltsAmt00
IRS990ScheduleD/EquipmentGrp/BookValueAmt06337
IRS990ScheduleD/EquipmentGrp/DepreciationAmt0278574
IRS990ScheduleD/EquipmentGrp/InvestmentCostOrOtherBasisAmt0284911
IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt00
IRS990ScheduleD/ExpensesNotReportedAmt00
IRS990ScheduleD/ExpensesNotRptFinclStmtAmt00
IRS990ScheduleD/ExpensesSubtotalAmt03959275
IRS990ScheduleD/FederalIncomeTaxLiabilityAmt00
IRS990ScheduleD/InvestmentExpensesNotIncld2Amt00
IRS990ScheduleD/InvestmentExpensesNotIncldAmt00
IRS990ScheduleD/LandGrp/BookValueAmt00
IRS990ScheduleD/LandGrp/InvestmentCostOrOtherBasisAmt00
IRS990ScheduleD/LandGrp/OtherCostOrOtherBasisAmt00
IRS990ScheduleD/LeaseholdImprovementsGrp/BookValueAmt048640
IRS990ScheduleD/LeaseholdImprovementsGrp/DepreciationAmt0194556
IRS990ScheduleD/LeaseholdImprovementsGrp/InvestmentCostOrOtherBasisAmt0243196
IRS990ScheduleD/LeaseholdImprovementsGrp/OtherCostOrOtherBasisAmt00
IRS990ScheduleD/LossesReportedAmt00
IRS990ScheduleD/NetUnrealizedGainsInvstAmt00
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt02200105
IRS990ScheduleD/OtherAssetsOrgGrp/Desc0Deferred Outflows of Resources
IRS990ScheduleD/OtherExpensesIncludedAmt00
IRS990ScheduleD/OtherExpensesNotIncludedAmt00
IRS990ScheduleD/OtherLandBuildingsGrp/BookValueAmt00
IRS990ScheduleD/OtherLandBuildingsGrp/DepreciationAmt036771
IRS990ScheduleD/OtherLandBuildingsGrp/InvestmentCostOrOtherBasisAmt036771
IRS990ScheduleD/OtherLandBuildingsGrp/OtherCostOrOtherBasisAmt00
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt03687922
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt1782893
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt2282651
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0Net Pension Liability
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc1Long Term Debt
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc2Deferred Inflows of Resources
IRS990ScheduleD/OtherRevenueAmt00
IRS990ScheduleD/OtherRevenuesNotIncludedAmt00
IRS990ScheduleD/PriorYearAdjustmentsAmt00
IRS990ScheduleD/RecoveriesPriorYearGrantsAmt00
IRS990ScheduleD/RevenueNotReportedAmt00
IRS990ScheduleD/RevenueNotReportedFinclStmtAmt00
IRS990ScheduleD/RevenueSubtotalAmt03002334
IRS990ScheduleD/TotalBookValueLandBuildingsAmt054977
IRS990ScheduleD/TotalBookValueOtherAssetsAmt02200105
IRS990ScheduleD/TotalExpensesPerForm990Amt03959275
IRS990ScheduleD/TotalLiabilityAmt04753466
IRS990ScheduleD/TotalRevenuePerForm990Amt03002334
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt03002334
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt03959275
IRS990ScheduleE/ComplianceWithRevProc7550Ind01
IRS990ScheduleE/DiscriminateRaceAdmissPlcyInd00
IRS990ScheduleE/DiscriminateRaceAthltProgInd00
IRS990ScheduleE/DiscriminateRaceEducPlcyInd00
IRS990ScheduleE/DiscriminateRaceEmplmFcultyInd00
IRS990ScheduleE/DiscriminateRaceOtherActyInd00
IRS990ScheduleE/DiscriminateRaceSchsInd00
IRS990ScheduleE/DiscriminateRaceStdntsRghtsInd00
IRS990ScheduleE/DiscriminateRaceUseOfFcltsInd00
IRS990ScheduleE/GovernmentFinancialAidRcvdInd00
IRS990ScheduleE/GovernmentFinancialAidRvkdInd00
IRS990ScheduleE/MaintainCpyOfAllSolInd01
IRS990ScheduleE/MaintainCpyOfBrochuresEtcInd01
IRS990ScheduleE/MaintainRacialCompRecsInd01
IRS990ScheduleE/MaintainScholarshipsRecsInd00
IRS990ScheduleE/NondiscriminatoryPolicyStmtInd01
IRS990ScheduleE/PlcyPblczdViaBroadcastMediaInd01
IRS990ScheduleE/PolicyStmtInBrochuresEtcInd01
IRS990ScheduleE/SupplementalInformationDetail/ExplanationTxt0The school provides a parent student handbook that describes their policies regarding discrimination as well as any literature that is sent to the public includes a statement about such policies.
IRS990ScheduleE/SupplementalInformationDetail/ExplanationTxt1The school is a community school in Ohio and does not provide scholarships or financial assistance as a free public school.
IRS990ScheduleE/SupplementalInformationDetail/FormAndLineReferenceDesc0Schedule E, Part I, Line 3
IRS990ScheduleE/SupplementalInformationDetail/FormAndLineReferenceDesc1Schedule E, Part I, Line 4
IRS990/ScheduleJRequiredInd00
IRS990/ScheduleORequiredInd01
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0The school contracted with a management company, ICAN Schools, to provide certain operational and management functions.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1The Form 990 is prepared and reviewed by the fiscal officer. After the review of the Form 990, it is provided to the Board of Directors legal counsel for review. Once completed it is then provided to the Board President for final approval before the fiscal officer signs and files the return.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2The Board of Directors, in conjunction with their legal counsel, consistently review compliance with federal and state regulations. In addition, the school is continuously monitored by its sponsor to ensure compliance with laws and regulations.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3The school's governing documents, conflict of interest policy and financial statements are maintained by its legal counsel and fiscal officer, and may be provided upon request.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0Form 990, Part VI, Section A, Line 3
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1Form 990, Part VI, Section B, Line 11b
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2Form 990, Part VI, Section B, Line 12c
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3Form 990, Part VI, Section C, Line 19
IRS990/SchoolOperatingInd01
IRS990/SignificantChangeInd00
IRS990/SignificantNewProgramSrvcInd00
IRS990/SubjectToProxyTaxInd00
IRS990/TaxablePartyNotificationInd00
IRS990/TaxExemptBondsInd00
IRS990/TemporarilyRstrNetAssetsGrp/BOYAmt017000
IRS990/TemporarilyRstrNetAssetsGrp/EOYAmt018212
IRS990/TempOrPermanentEndowmentsInd00
IRS990/TerminateOperationsInd00
IRS990/TotalAssetsBOYAmt02879733
IRS990/TotalAssetsEOYAmt02368984
IRS990/TotalAssetsGrp/BOYAmt02879733
IRS990/TotalAssetsGrp/EOYAmt02368984
IRS990/TotalCompGreaterThan150KInd00
IRS990/TotalContributionsAmt03002334
IRS990/TotalEmployeeCnt053
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt00
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt03959275
IRS990/TotalFunctionalExpensesGrp/TotalAmt03959275
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt05425309
IRS990/TotalLiabilitiesEOYAmt05871501
IRS990/TotalLiabilitiesGrp/BOYAmt05425309
IRS990/TotalLiabilitiesGrp/EOYAmt05871501
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt0-2545576
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt0-3502517
IRS990/TotalOtherCompensationAmt00
IRS990/TotalOtherProgSrvcExpenseAmt00
IRS990/TotalOtherProgSrvcGrantAmt00
IRS990/TotalOtherProgSrvcRevenueAmt00
IRS990/TotalProgramServiceExpensesAmt03959275
IRS990/TotalProgramServiceRevenueAmt00
IRS990/TotalReportableCompFromOrgAmt00
IRS990/TotalRevenueGrp/ExclusionAmt00
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt00
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt03002334
IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt00
IRS990/TotalVolunteersCnt00
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt02879733
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt02368984
IRS990/TotReportableCompRltdOrgAmt00
IRS990/TravelGrp/ProgramServicesAmt01393
IRS990/TravelGrp/TotalAmt01393
IRS990/TrnsfrExmptNonChrtblRltdOrgInd00
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd00
IRS990/UnrestrictedNetAssetsGrp/BOYAmt0-2672528
IRS990/UnrestrictedNetAssetsGrp/EOYAmt0-3575706
IRS990/UnsecuredNotesLoansPayableGrp/BOYAmt0596701
IRS990/UnsecuredNotesLoansPayableGrp/EOYAmt0533200
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt0219 E Maple St Ste 202
IRS990/USAddress/CityNm0North Canton
IRS990/USAddress/StateAbbreviationCd0OH
IRS990/USAddress/ZIPCd044720
IRS990/VotingMembersGoverningBodyCnt04
IRS990/VotingMembersIndependentCnt04
IRS990/WhistleblowerPolicyInd01
ReasonableCauseExplanation/ExplanationTxt0The school waited for final audited financial statements prior to filing the Form 990.
ReturnHeader/BuildTS02018-06-14 16:35:46Z

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