Civic Intelligence

Foundation Preparatory Academy

990 • Fiscal year 2021 • EIN 46-3175065

Jul 01, 2020 to Jun 30, 2021 • Filed on Feb 22, 2022

Organization Profilefoundationprep.com
PO Box 488Lake Jackson, TX 77566

(979) 265-1111

Siviq Scores

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

Liabilities / Assets

89th percentile

0.45x

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

2021 filings • 501(c)3 • <$500k nonprofits • Source year 2021

Liabilities / Revenue

87th percentile

0.29x

Higher debt load relative to revenue than 87% of similar nonprofits.

2021 filings • 501(c)3 • <$500k nonprofits • Source year 2021

Net Margin

58th percentile

15%

Higher net margin than 58% of similar nonprofits.

2021 filings • 501(c)3 • <$500k nonprofits • Source year 2021

Top Officer Pay

77th percentile

$0

Higher top officer pay than 77% of similar nonprofits.

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

2021 filings • 501(c)3 • <$500k nonprofits • Source year 2021

Asset Growth

87th percentile

87%

Faster asset growth than 87% of similar nonprofits.

2021 filings • 501(c)3 • <$500k nonprofits • Annualized from 2020 to 2021

Revenue Growth

74th percentile

48%

Faster revenue growth than 74% of similar nonprofits.

2021 filings • 501(c)3 • <$500k nonprofits • Annualized from 2020 to 2021

Balance Sheet
Liabilities / Assets89th percentile

Assets

Up

$164,116

Up $76,170 (+87%) from 2020

Net Assets

Up

$89,888

Up $37,590 (+72%) from 2020

Liabilities

Up

$74,228

Up $38,580 (+108%) from 2020

Revenue And Expenses
Liabilities / Revenue87th percentileNet Margin58th percentile

Revenue

Up

$255,534

Up $82,379 (+48%) from 2020

Expenses

Up

$217,944

Up $10,696 (+5.2%) from 2020

Net Income

Up

$37,590

Up $71,683 (+210%) from 2020

Historical Trend

Balance Sheet Trend

Asset Growth87th percentile

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

$200K$150K$100K$50K$0Assets 2014: $8,339Liabilities 2014: $02014Assets 2015: $47,292Net Assets 2015: $47,2922015Assets 2016: $111,211Liabilities 2016: $1,170Net Assets 2016: $110,0412016Assets 2017: $90,645Liabilities 2017: $3,674Net Assets 2017: $86,9712017Assets 2018: $99,363Liabilities 2018: $2,388Net Assets 2018: $96,9752018Assets 2019: $86,920Liabilities 2019: $529Net Assets 2019: $86,3912019Assets 2020: $87,946Liabilities 2020: $35,648Net Assets 2020: $52,2982020Assets 2021: $164,116Liabilities 2021: $74,228Net Assets 2021: $89,8882021Assets 2022: $162,582Liabilities 2022: $73,343Net Assets 2022: $89,2392022Assets 2023: $137,745Liabilities 2023: $73,339Net Assets 2023: $64,4062023Assets 2024: $126,147Liabilities 2024: $54,255Net Assets 2024: $71,8922024Assets 2025: $137,679Liabilities 2025: $62,484Net Assets 2025: $75,1952025

Highlighted filing

2021

Assets$164,116
Liabilities$74,228
Net Assets$89,888
Open 2021 Filing

Operations Trend

Revenue Growth74th percentile

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

$400K$300K$200K$100K$0-$100KRevenue 2014: $14,877Expenses 2014: $6,538Net Income 2014: $8,3392014Revenue 2015: $183,775Expenses 2015: $144,822Net Income 2015: $38,9532015Revenue 2016: $241,628Expenses 2016: $178,879Net Income 2016: $62,7492016Revenue 2017: $208,981Expenses 2017: $232,051Net Income 2017: -$23,0702017Revenue 2018: $234,188Expenses 2018: $224,184Net Income 2018: $10,0042018Revenue 2019: $219,407Expenses 2019: $229,991Net Income 2019: -$10,5842019Revenue 2020: $173,155Expenses 2020: $207,248Net Income 2020: -$34,0932020Revenue 2021: $255,534Expenses 2021: $217,944Net Income 2021: $37,5902021Revenue 2022: $263,473Expenses 2022: $264,122Net Income 2022: -$6492022Revenue 2023: $281,493Expenses 2023: $306,330Net Income 2023: -$24,8372023Revenue 2024: $339,335Expenses 2024: $331,849Net Income 2024: $7,4862024Revenue 2025: $347,839Expenses 2025: $344,536Net Income 2025: $3,3032025

Highlighted filing

2021

Revenue$255,534
Expenses$217,944
Net Income$37,590
Open 2021 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2020 to Jun 30, 2021
Signed
Feb 22, 2022
Return Version
2020v4.2
Gross Receipts
$261,536
Mission and Program Overview

Mission

Provide a college-preparatory education in a Christian environment through a University-Model School- a blend of traditional public and private schools and home schools. Currently 3rd-11th grade.

Provide a college-preparatory education in a Christian environment through a University-Model School- a blend of traditional public and private schools and home schools. Currently Kindergarten-12th grade.

Balance Sheet Detail
LineBeginningEndChange
Assets
Cash and Non-Interest-Bearing Accounts$87,850$164,116▲ $76,266
Rtn Earn Endowment Incm Other Fnds$52,298$89,888▲ $37,590
Savings and Temporary Cash Investments$96--
Total Assets$87,946$164,116▲ $76,170
Liabilities
Deferred Revenue-$73,980-
Other Liabilities$32,200--
Accounts Payable and Accrued Expenses$3,448$248▼ $3,200
Total Liabilities$35,648$74,228▲ $38,580
Net Assets / Fund Balance
Total Net Assets Fund Balance$52,298$89,888▲ $37,590
Total Liabilities and Net Assets / Fund Balance$87,946$164,116▲ $76,170

Asset Categories

AssetBook ValueDepreciationBasis
Equipment-$19,363$19,363
Compensation and Service Providers
Top Officer Pay77th percentile

Board Members and Trustees

NameTitle
Derek ResterChairman
Twain PigottVice Chairman
Lisa ResterDirector
Stacey RayburnDirector
Whitney ReavesSecretary
Todd ReavesTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$119,297
Program Service Revenue
$127,782
Investment Income
$72
Other Revenue
$8,383
All Other Contributions
$87,097
Change in Net Assets
$37,590
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$171,455
Other Expenses$46,489
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$161,205--$161,205
Occupancy$18,479--$18,479
Payroll Taxes$10,250--$10,250
Insurance$9,584--$9,584
Office Expenses$5,399--$5,399
Advertising$1,517--$1,517
Conferences and Meetings$1,450--$1,450
Other Expenses$1,418--$1,418
All Other Expenses$991--$1,034
Fees for Services Accounting-$750-$750
Total Functional Expenses$217,151$750$0$217,944
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Gross Income$8,962
Fundraising Direct Expenses$446
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
Federal income taxes-
Ppp-
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
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
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

Governance Explanations

Form 990, Part VI, Section A, Line 2

“Directors with family relationships, Derek Rester Lisa Rester, Todd Reaves Whitney Reaves”

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

“Reviewed at board meeting”

Form 990, Part VI, Section B, Line 12

“Conflict of Interest statements are signed annually by Board members and officers as well as key staff within the organization. Chairman and Treasurer review conflict of interest policy and statements annually”

Form 990, Part VI, Section B, Line 15

“Employee salaries were based in part on similar sister organizations within the State of Texas after discussion and review of their pay practices. Also, pay practices of the local school district form a solid basis of comparison”

Form 990, Part VI, Section C, Line 19

“A State of the School addressis made each February wherein the current financial status of the school is discussed. Most governing policy is available from the schools webpage and through the Student Handbook. Organizational policy isavailable to teachers, staff, parents, students and prospective students upon request or as needed. Conflict of Interest Status is also discussed in the State of the School addresses or upon request.”

Filing and Contact Details

Filer

Filer Name
Foundation Preparatory Academy
EIN
46-3175065
Phone
9792651111
Address
PO BOX 488, LAKE JACKSON, TX 77566

Signing Officer

Name
Todd Reaves
Title
Treasurer
Signed
2022-02-22
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Derek Rester
Formed
2013
Legal Domicile
TX
Voting Board Members
6
Independent Board Members
6
Employees
15

Preparer

Firm
Tammy D Parker CPA
Address
124 Papaya, Lake Jackson, TX 77566
Preparer
Tammy D Parker
Phone
9792970999
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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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IRS990/ScheduleJRequiredInd0false
IRS990/ScheduleORequiredInd0true
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0Directors with family relationships, Derek Rester Lisa Rester, Todd Reaves Whitney Reaves
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1Reviewed at board meeting
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2Conflict of Interest statements are signed annually by Board members and officers as well as key staff within the organization. Chairman and Treasurer review conflict of interest policy and statements annually
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3Employee salaries were based in part on similar sister organizations within the State of Texas after discussion and review of their pay practices. Also, pay practices of the local school district form a solid basis of comparison
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4A State of the School addressis made each February wherein the current financial status of the school is discussed. Most governing policy is available from the schools webpage and through the Student Handbook. Organizational policy isavailable to teachers, staff, parents, students and prospective students upon request or as needed. Conflict of Interest Status is also discussed in the State of the School addresses or upon request.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0Form 990, Part VI, Section A, Line 2
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1Form 990, Part VI, Section B, Line 11b
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2Form 990, Part VI, Section B, Line 12
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3Form 990, Part VI, Section B, Line 15
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4Form 990, Part VI, Section C, Line 19
IRS990/SchoolOperatingInd0true
IRS990/SignificantChangeInd0false
IRS990/SignificantNewProgramSrvcInd0false
IRS990/SubjectToExcsTaxNetInvstIncInd0false
IRS990/SubjectToProxyTaxInd0false
IRS990/SubjToTaxRmnrtnExPrchtPymtInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TerminateOperationsInd0false
IRS990/TotalAssetsBOYAmt087946
IRS990/TotalAssetsEOYAmt0164116
IRS990/TotalAssetsGrp/BOYAmt087946
IRS990/TotalAssetsGrp/EOYAmt0164116
IRS990/TotalCompGreaterThan150KInd0false
IRS990/TotalContributionsAmt0119297
IRS990/TotalEmployeeCnt015
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt0750
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0217151
IRS990/TotalFunctionalExpensesGrp/TotalAmt0217944
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt035648
IRS990/TotalLiabilitiesEOYAmt074228
IRS990/TotalLiabilitiesGrp/BOYAmt035648
IRS990/TotalLiabilitiesGrp/EOYAmt074228
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt052298
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt089888
IRS990/TotalOthProgramServiceRevGrp/RelatedOrExemptFuncIncomeAmt0337
IRS990/TotalOthProgramServiceRevGrp/TotalRevenueColumnAmt0337
IRS990/TotalProgramServiceExpensesAmt0217151
IRS990/TotalProgramServiceRevenueAmt0127782
IRS990/TotalRevenueGrp/ExclusionAmt08545
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt0127649
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0255534
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt087946
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt0164116
IRS990/TravelGrp/TotalAmt00
IRS990/TrnsfrExmptNonChrtblRltdOrgInd0false
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt0PO Box 488
IRS990/USAddress/CityNm0Lake Jackson
IRS990/USAddress/StateAbbreviationCd0TX
IRS990/USAddress/ZIPCd077566
IRS990/VotingMembersGoverningBodyCnt06
IRS990/VotingMembersIndependentCnt06
IRS990/WebsiteAddressTxt0foundationprep.com
IRS990/WhistleblowerPolicyInd0false
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/AuthenticationAssuranceLevelCd0AAL1
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/IdentityAssuranceLevelCd0IAL1
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/TrustedCustomerCd02
ReturnHeader/BuildTS02022-03-31 18:45:55Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0Todd Reaves
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0Treasurer
ReturnHeader/BusinessOfficerGrp/SignatureDt02022-02-22
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0FOUNDATION PREPARATORY ACADEMY
ReturnHeader/Filer/BusinessNameControlTxt0FOUN
ReturnHeader/Filer/EIN0463175065
ReturnHeader/Filer/PhoneNum09792651111
ReturnHeader/Filer/USAddress/AddressLine1Txt0PO BOX 488
ReturnHeader/Filer/USAddress/CityNm0LAKE JACKSON
ReturnHeader/Filer/USAddress/StateAbbreviationCd0TX
ReturnHeader/Filer/USAddress/ZIPCd077566
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0Tammy D Parker CPA
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt0124 Papaya
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0Lake Jackson
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0TX
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd077566
ReturnHeader/PreparerPersonGrp/PhoneNum09792970999
ReturnHeader/PreparerPersonGrp/PreparationDt02022-02-22
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0Tammy D Parker
ReturnHeader/PreparerPersonGrp/SelfEmployedInd0X
ReturnHeader/ReturnTs02022-02-22T12:51:42-00:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonFirstNm0Todd
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonLastNm0Reaves
ReturnHeader/TaxPeriodBeginDt02020-07-01
ReturnHeader/TaxPeriodEndDt02021-06-30
ReturnHeader/TaxYr02020

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Filings

Displayed year

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

Open filing
Assets
$164,116
Liabilities
$74,228
Net assets
$89,888
Revenue
$255,534
Expenses
$217,944
Net income
$37,590
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2025Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.38$0.62$0.75$3.48$3.45$0.03
2024Detailed filing. Detailed filing data is available for this year.$1.26$0.54$0.72$3.39$3.32$0.07
2023Detailed filing. Detailed filing data is available for this year.$1.38$0.73$0.64$2.81$3.06$0.25
2022Detailed filing. Detailed filing data is available for this year.$1.63$0.73$0.89$2.63$2.64$0.01
2021Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.64$0.74$0.90$2.56$2.18$0.38
2020Detailed filing. Detailed filing data is available for this year.$0.88$0.36$0.52$1.73$2.07$0.34
2019Detailed filing. Detailed filing data is available for this year.$0.87$0.01$0.86$2.19$2.30$0.11
2018Detailed filing. Detailed filing data is available for this year.$0.99$0.02$0.97$2.34$2.24$0.10
2017Detailed filing. Detailed filing data is available for this year.$0.91$0.04$0.87$2.09$2.32$0.23
2016Detailed filing. Detailed filing data is available for this year.$1.11$0.01$1.10$2.42$1.79$0.63
2015Detailed filing. Detailed filing data is available for this year.$0.47$0.47$1.84$1.45$0.39
2014Summary only. Only limited summary data is available for this year.$0.08$0.00$0.15$0.07$0.08