Civic Intelligence

Foundation Preparatory Academy

990 • Fiscal year 2022 • EIN 46-3175065

Jul 01, 2021 to Jun 30, 2022 • Filed on Apr 25, 2023

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.

2022 filings • 501(c)3 • <$500k nonprofits • Source year 2022

Liabilities / Revenue

88th percentile

0.28x

Higher debt load relative to revenue than 88% of similar nonprofits.

2022 filings • 501(c)3 • <$500k nonprofits • Source year 2022

Net Margin

39th percentile

-0.2%

Higher net margin than 39% of similar nonprofits.

2022 filings • 501(c)3 • <$500k nonprofits • Source year 2022

Top Officer Pay

78th percentile

$0

Higher top officer pay than 78% of similar nonprofits.

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

2022 filings • 501(c)3 • <$500k nonprofits • Source year 2022

Asset Growth

45th percentile

-0.9%

Faster asset growth than 45% of similar nonprofits.

2022 filings • 501(c)3 • <$500k nonprofits • Annualized from 2021 to 2022

Revenue Growth

44th percentile

3.1%

Faster revenue growth than 44% of similar nonprofits.

2022 filings • 501(c)3 • <$500k nonprofits • Annualized from 2021 to 2022

Assets

Down

$162,582

Down $1,534 (-0.9%) from 2021

Net Assets

Down

$89,239

Down $649 (-0.7%) from 2021

Liabilities

Down

$73,343

Down $885 (-1.2%) from 2021

Revenue

Up

$263,473

Up $7,939 (+3.1%) from 2021

Expenses

Up

$264,122

Up $46,178 (+21%) from 2021

Net Income

Down

-$649

Down $38,239 (-102%) from 2021

Historical Trend

Balance Sheet Trend

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

2022

Assets$162,582
Liabilities$73,343
Net Assets$89,239

Operations Trend

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

2022

Revenue$263,473
Expenses$264,122
Net Income-$649
Jump To
Filing Snapshot
Filing Period
Jul 1, 2021 to Jun 30, 2022
Signed
Apr 25, 2023
Return Version
2021v4.1
Gross Receipts
$267,513
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 Kindergarten-12th 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$164,116$138,323▼ $25,793
Rtn Earn Endowment Incm Other Fnds$89,888$89,239▼ $649
Land, Buildings, and Equipment, Net-$25,000-
Savings and Temporary Cash Investments-$0-
Accounts Receivable-$0-
Other Notes and Loans Receivable, Net-$0-
Pledges and Grants Receivable-$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-$0-
Prepaid Expenses and Deferred Charges-$-1,341-
Total Assets$164,116$162,582▼ $1,534
Other Assets Total-$600-
Liabilities
Deferred Revenue$73,980$73,980→ $0
Other Liabilities-$4-
Accounts Payable and Accrued Expenses$248$-641▼ $889
Total Liabilities$74,228$73,343▼ $885
Net Assets / Fund Balance
Total Net Assets Fund Balance$89,888$89,239▼ $649
Total Liabilities and Net Assets / Fund Balance$164,116$162,582▼ $1,534

Asset Categories

AssetBook ValueDepreciationBasis
Leasehold Improvements$25,000-$25,000
Equipment-$19,363$19,363
Compensation and Service Providers

Board Members and Trustees

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

Revenue Composition

Contributions and Grants
$29,258
Program Service Revenue
$214,618
Investment Income
$114
Other Revenue
$19,483
All Other Contributions
$29,258
Change in Net Assets
$-649
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$196,938
Other Expenses$67,184
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$177,354--$177,354
Occupancy$23,030--$23,030
Payroll Taxes$19,584--$19,584
Insurance$5,564--$5,564
Office Expenses$5,195--$5,195
Conferences and Meetings$4,653--$4,653
Information Technology$4,023--$4,023
Advertising$2,156--$2,156
Other Expenses$1,808--$1,808
All Other Expenses$916--$916
Total Functional Expenses$264,122$0$0$264,122
Fundraising, Events, and Gaming
Fundraising activities
Yes
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Gross Income$17,425
Fundraising Direct Expenses$1,095
Professional Fundraising Fees$0

Fundraising Events

EventGross ReceiptsGross RevenueDirect ExpensesNet Income
Jubilation Fundraiser$17,425$17,425$1,095$16,330
Total Events$17,425$17,425$1,095$16,330
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-
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Rounding$4
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, Line 2: Description of Business or Family Relationship of Officers, Directors, Et

Directors with family relationships, derek rester & lisa rester, todd reaves & whitney reaves

Form 990, Part VI, Line 11B: Form 990 Review Process

Reviewed at board meeting

Form 990, Part VI, Line 12C: Explanation of Monitoring and Enforcement of Conflicts

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, Line 15B: Compensation Review and Approval Process for Officers and Key Employees

Employee salaries were basedin 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, Line 19: Other Organization Documents Publicly Available

A state of the school address is made each february wherein the current financial status of the school is discussed. Most governing policy is available from the school's webpage and through the student handbook. Organiational policy is available so teachers, staff, parents, students, and prospective students upon request or as needed. Confilict of interest status is also discussed in the state of the school address or upon request.

Filing and Contact Details

Filer

Filer Name
Foundation Preparatory Academy
EIN
46-3175065
Address
PO BOX 488, Lake Jackson, TX 77566

Signing Officer

Name
Todd Reaves
Title
Treasurer
Signed
2023-04-25
Discuss with paid preparer
Yes

Organization Details

Formed
2013
Legal Domicile
TX
Voting Board Members
6
Independent Board Members
6
Employees
15

Preparer

Firm
Green & McElreath
Address
20405 State Highway 249 Ste 150, Houston, TX 77070
Preparer
James B Ripple
Phone
7132281040
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IRS990/ReceivablesFromOfficersEtcGrp/EOYAmt00
IRS990/ReconcilationRevenueExpnssAmt0-649
IRS990/RegularMonitoringEnfrcInd0true
IRS990/RelatedEntityInd0false
IRS990/RelatedOrganizationCtrlEntInd0false
IRS990/ReportInvestmentsOtherSecInd0false
IRS990/ReportLandBuildingEquipmentInd0true
IRS990/ReportOtherAssetsInd0false
IRS990/ReportOtherLiabilitiesInd0true
IRS990/ReportProgramRelatedInvstInd0false
IRS990/RevenueAmt0212933
IRS990/RoyaltiesGrp/TotalAmt00
IRS990/RoyaltiesRevenueGrp/TotalRevenueColumnAmt00
IRS990/RtnEarnEndowmentIncmOthFndsGrp/BOYAmt089888
IRS990/RtnEarnEndowmentIncmOthFndsGrp/EOYAmt089239
IRS990/SavingsAndTempCashInvstGrp/EOYAmt00
IRS990ScheduleA/SchoolInd0X
IRS990ScheduleB/ContributorInformationGrp/ContributorBusinessName/BusinessNameLine10RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorNum0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/AddressLine10RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/AddressLine20RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/City0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/State0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/ZIPCode0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/TotalContributionsAmt0RESTRICTED
IRS990/ScheduleBRequiredInd0true
IRS990ScheduleD/EquipmentGrp/DepreciationAmt019363
IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt019363
IRS990ScheduleD/LeaseholdImprovementsGrp/BookValueAmt025000
IRS990ScheduleD/LeaseholdImprovementsGrp/OtherCostOrOtherBasisAmt025000
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt04
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0Rounding
IRS990ScheduleD/TotalBookValueLandBuildingsAmt025000
IRS990ScheduleD/TotalLiabilityAmt04
IRS990ScheduleE/ComplianceWithRevProc7550Ind0true
IRS990ScheduleE/DiscriminateRaceAdmissPlcyInd0false
IRS990ScheduleE/DiscriminateRaceAthltProgInd0false
IRS990ScheduleE/DiscriminateRaceEducPlcyInd0false
IRS990ScheduleE/DiscriminateRaceEmplmFcultyInd0false
IRS990ScheduleE/DiscriminateRaceOtherActyInd0false
IRS990ScheduleE/DiscriminateRaceSchsInd0false
IRS990ScheduleE/DiscriminateRaceStdntsRghtsInd0false
IRS990ScheduleE/DiscriminateRaceUseOfFcltsInd0false
IRS990ScheduleE/GovernmentFinancialAidRcvdInd0false
IRS990ScheduleE/GovernmentFinancialAidRvkdInd0false
IRS990ScheduleE/MaintainCpyOfAllSolInd0true
IRS990ScheduleE/MaintainCpyOfBrochuresEtcInd0true
IRS990ScheduleE/MaintainRacialCompRecsInd0false
IRS990ScheduleE/MaintainScholarshipsRecsInd0false
IRS990ScheduleE/NondiscriminatoryPolicyStmtInd0true
IRS990ScheduleE/PlcyPblczdViaBroadcastMediaInd0true
IRS990ScheduleE/PolicyStmtInBrochuresEtcInd0true
IRS990ScheduleE/SupplementalInformationDetail/FormAndLineReferenceDesc0Schedule E, Line 3 - Racially Nondiscriminatory Policy Publicized
IRS990ScheduleE/SupplementalInformationDetail/FormAndLineReferenceDesc1Schedule E, Line 4 - Explanation of Records and Materials Not Maintained
IRS990ScheduleE/SupplementalInformationDetail/FormAndLineReferenceDesc2Schedule E, Line 5 - Explanation of Organization Discrimination by Race
IRS990ScheduleG/AgrmtProfFundraisingActyInd0false
IRS990ScheduleG/FundraisingEventInformationGrp/DirectExpenseSummaryEventsAmt01095
IRS990ScheduleG/FundraisingEventInformationGrp/Event1Nm0JUBILATION FUNDRAISER
IRS990ScheduleG/FundraisingEventInformationGrp/GrossReceiptsEvent1Amt017425
IRS990ScheduleG/FundraisingEventInformationGrp/GrossReceiptsTotalAmt017425
IRS990ScheduleG/FundraisingEventInformationGrp/GrossRevenueEvent1Amt017425
IRS990ScheduleG/FundraisingEventInformationGrp/GrossRevenueTotalEventsAmt017425
IRS990ScheduleG/FundraisingEventInformationGrp/NetIncomeSummaryAmt016330
IRS990ScheduleG/FundraisingEventInformationGrp/OthDirectExpnssTotalEventsAmt01095
IRS990ScheduleG/FundraisingEventInformationGrp/OtherDirectExpensesEvent1Amt01095
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 BASEDIN 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 ADDRESS IS MADE EACH FEBRUARY WHEREIN THE CURRENT FINANCIAL STATUS OF THE SCHOOL IS DISCUSSED. MOST GOVERNING POLICY IS AVAILABLE FROM THE SCHOOL'S WEBPAGE AND THROUGH THE STUDENT HANDBOOK. ORGANIATIONAL POLICY IS AVAILABLE SO TEACHERS, STAFF, PARENTS, STUDENTS, AND PROSPECTIVE STUDENTS UPON REQUEST OR AS NEEDED. CONFILICT OF INTEREST STATUS IS ALSO DISCUSSED IN THE STATE OF THE SCHOOL ADDRESS OR UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0Form 990, Part VI, Line 2: Description of Business or Family Relationship of Officers, Directors, Et
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1Form 990, Part VI, Line 11b: Form 990 Review Process
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2Form 990, Part VI, Line 12c: Explanation of Monitoring and Enforcement of Conflicts
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3Form 990, Part VI, Line 15b: Compensation Review and Approval Process for Officers and Key Employees
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4Form 990, Part VI, Line 19: Other Organization Documents Publicly Available
IRS990/SchoolOperatingInd0true
IRS990/SignificantChangeInd0false
IRS990/SignificantNewProgramSrvcInd0false
IRS990/SubjectToExcsTaxNetInvstIncInd0false
IRS990/SubjectToProxyTaxInd0false
IRS990/SubjToTaxRmnrtnExPrchtPymtInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TerminateOperationsInd0false
IRS990/TotalAssetsBOYAmt0164116
IRS990/TotalAssetsEOYAmt0162582
IRS990/TotalAssetsGrp/BOYAmt0164116
IRS990/TotalAssetsGrp/EOYAmt0162582
IRS990/TotalCompGreaterThan150KInd0false
IRS990/TotalContributionsAmt029258
IRS990/TotalEmployeeCnt015
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt00
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0264122
IRS990/TotalFunctionalExpensesGrp/TotalAmt0264122
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt074228
IRS990/TotalLiabilitiesEOYAmt073343
IRS990/TotalLiabilitiesGrp/BOYAmt074228
IRS990/TotalLiabilitiesGrp/EOYAmt073343
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt089888
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt089239
IRS990/TotalProgramServiceExpensesAmt0264122
IRS990/TotalProgramServiceRevenueAmt0214618
IRS990/TotalRevenueGrp/ExclusionAmt016444
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt0217771
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0263473
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt0164116
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt0162582
IRS990/TravelGrp/TotalAmt00
IRS990/TrnsfrExmptNonChrtblRltdOrgInd0false
IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt0PO BOX 488
IRS990/USAddress/CityNm0Lake Jackson
IRS990/USAddress/StateAbbreviationCd0TX
IRS990/USAddress/ZIPCd077566
IRS990/VotingMembersGoverningBodyCnt06
IRS990/VotingMembersIndependentCnt06
IRS990/WebsiteAddressTxt0N/A
IRS990/WhistleblowerPolicyInd0false
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/AuthenticationAssuranceLevelCd0AAL1
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/FederatedAssuranceLevelCd0FAL1
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/IdentityAssuranceLevelCd0IAL1
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/TrustedCustomerCd02
ReturnHeader/BuildTS02023-04-26 12:10:37Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0TODD REAVES
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0Treasurer
ReturnHeader/BusinessOfficerGrp/SignatureDt02023-04-25
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0Foundation Preparatory Academy
ReturnHeader/Filer/BusinessNameControlTxt0FOUN
ReturnHeader/Filer/EIN0463175065
ReturnHeader/Filer/USAddress/AddressLine1Txt0PO BOX 488
ReturnHeader/Filer/USAddress/CityNm0Lake Jackson

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