Civic Intelligence

Mason Preparatory School Foundation

990 • Fiscal year 2018 • EIN 47-2755337

Jun 01, 2017 to May 31, 2018 • Filed on Mar 22, 2019

56 Halsey BlvdCharleston, SC 29401

(843) 723-0664

Siviq Scores

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

Liabilities / Assets

54th percentile

0.00x

Tied with the lowest-debt nonprofits in its peer group.

2018 filings • 501(c)3 • <$500k nonprofits • Source year 2018

Liabilities / Revenue

54th percentile

0.00x

Tied with the lowest-debt nonprofits in its peer group.

2018 filings • 501(c)3 • <$500k nonprofits • Source year 2018

Net Margin

4th percentile

-120%

Higher net margin than 4% of similar nonprofits.

2018 filings • 501(c)3 • <$500k nonprofits • Source year 2018

Top Officer Pay

Score unavailable

No value available

This filing does not contain officer compensation rows.

Source year 2018

Asset Growth

9th percentile

-47%

Faster asset growth than 9% of similar nonprofits.

2018 filings • 501(c)3 • <$500k nonprofits • Annualized from 2017 to 2018

Revenue Growth

6th percentile

-62%

Faster revenue growth than 6% of similar nonprofits.

2018 filings • 501(c)3 • <$500k nonprofits • Annualized from 2017 to 2018

Assets

Down

$270,611

Down $240,202 (-47%) from 2017

Net Assets

Down

$270,611

Down $240,202 (-47%) from 2017

Liabilities

Flat

$0

Flat from 2017

Revenue

Down

$200,263

Down $328,456 (-62%) from 2017

Expenses

Up

$440,665

Up $422,759 (+2361%) from 2017

Net Income

Down

-$240,402

Down $751,215 (-147%) from 2017

Historical Trend

Balance Sheet Trend

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

$600K$400K$200K$0Assets 2017: $510,813Liabilities 2017: $0Net Assets 2017: $510,8132017Assets 2018: $270,611Liabilities 2018: $0Net Assets 2018: $270,6112018Assets 2019: $408,858Liabilities 2019: $0Net Assets 2019: $408,8582019Assets 2020: $350,175Liabilities 2020: $0Net Assets 2020: $350,1752020Assets 2021: $345,195Liabilities 2021: $0Net Assets 2021: $345,1952021Assets 2022: $437,510Liabilities 2022: $0Net Assets 2022: $437,5102022Assets 2023: $549,659Liabilities 2023: $0Net Assets 2023: $549,6592023Assets 2024: $0Liabilities 2024: $0Net Assets 2024: $02024

Highlighted filing

2018

Assets$270,611
Liabilities$0
Net Assets$270,611

Operations Trend

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

$1.0M$500K$0-$500K-$1.0MRevenue 2017: $528,719Expenses 2017: $17,906Net Income 2017: $510,8132017Revenue 2018: $200,263Expenses 2018: $440,665Net Income 2018: -$240,4022018Revenue 2019: $341,141Expenses 2019: $202,894Net Income 2019: $138,2472019Revenue 2020: $99,305Expenses 2020: $157,988Net Income 2020: -$58,6832020Revenue 2021: $158,002Expenses 2021: $162,982Net Income 2021: -$4,9802021Revenue 2022: $136,694Expenses 2022: $44,380Net Income 2022: $92,3142022Revenue 2023: $213,467Expenses 2023: $101,470Net Income 2023: $111,9972023Revenue 2024: $2,749Expenses 2024: $552,256Net Income 2024: -$549,5072024

Highlighted filing

2018

Revenue$200,263
Expenses$440,665
Net Income-$240,402
Jump To
Filing Snapshot
Filing Period
Jun 1, 2017 to May 31, 2018
Signed
Mar 22, 2019
Return Version
2017v2.3
Gross Receipts
$221,787
Mission and Program Overview

Mission

The mason prep school foundation supports mason prep school through strategic fundraising that provides scholarships and financial assistance to mason prep students, promotes the development of the mason prep faculty,

The mason prep school foundation supports mason prep school through strategic fundraising that provides scholarships and financial assistance to mason prep students, promotes the development of the mason prep faculty, and enhances and improves mason preps facilities and its educational programs.

Balance Sheet Detail
LineBeginningEndChange
Assets
Cash and Non-Interest-Bearing Accounts$510,813$270,611▼ $240,202
Total Assets$510,813$270,611▼ $240,202
Liabilities
Total Liabilities$0$0→ $0
Net Assets / Fund Balance
Unrestricted Net Assets$410,813$259,944▼ $150,869
Temporarily Rstr Net Assets$100,000$10,667▼ $89,333
Total Net Assets Fund Balance$510,813$270,611▼ $240,202
Total Liabilities and Net Assets / Fund Balance$510,813$270,611▼ $240,202
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
Lauren Hammond Term EndedExecutive DiFT$675$83,950$84,625

Board Members and Trustees

NameTitle
Charles M Jordan JrChair
Amy FoxhallDirector
Edward OswaldDirector
Erik KreutnerDirector
Martha CelekDirector
Michael GreenDirector
PatrickvernerDirector
Tom WinklerDirector
Lori WinklerExecutive Di
Angela TeufelSecretary
Revenue and Support

Revenue Composition

Contributions and Grants
$211,602
Program Service Revenue
$0
Investment Income
$0
Other Revenue
$-11,339
All Other Contributions
$174,404
Change in Net Assets
$-240,402
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Grants and Similar Amounts Paid$249,300
Total Fundraising Expense$142,247
Other Expenses$110,006
Salaries, Compensation, and Employee Benefits$81,359
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Grants to Domestic Orgs$249,300--$249,300
Fees for Services Other-$36,070$66,986$103,056
Current Officers, Directors, Trustees, and Key Employees-$12,204$69,155$81,359
Conferences and Meetings-$318$2,871$3,189
Office Expenses-$469$1,845$2,314
Other Expenses-$57$515$572
Total Functional Expenses$249,300$49,118$142,247$440,665
International Activity

Grant and Assistance Recipients

RecipientLocationCategoryPurposeAmount
Mason Preparatory SchoolCharleston, SC501c3Capital & Prof Dev$119,300
Mason Preparatory SchoolCharleston, SC501c3Tuition Assistance$100,000
Mason Preparatory SchoolCharleston, SC501c3Msa - Tuition Assist$30,000
Fundraising, Events, and Gaming
Fundraising activities
Yes
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Direct Expenses$21,524
Fundraising Gross Income$10,185
Professional Fundraising Fees$0

Fundraising Events

EventGross ReceiptsGross RevenueDirect ExpensesNet Income
Casino Night$47,383$10,185$5,207$4,978
Total Events$47,383$10,185$21,524$-11,339
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
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
Yes
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, Page 6, Part VI, Line 11B

Management and the officers of the board of directors review the form 990 with the independent cpa firm. Once questions are addressed, the form is updated (as needed) and the form 990 is shared with the board of directors for a comment period. At completion of the comment period, the form 990 is issued with the irs.

Form 990, Page 6, Part VI, Line 12C

The board of directors is required to annual disclose and certify if any conflicts of interest exist.

Form 990, Page 6, Part VI, Line 15A

Compensation for the executive director is approved by the board of directors through the underlying service contract. The compensation is considered against other similar sized organizations and other benchmarks.

Form 990, Page 6, Part VI, Line 19

Governing documents are available from the foundation upon request at its corporate offices.

Filing and Contact Details

Filer

Filer Name
Mason Preparatory School Foundation
EIN
47-2755337
Phone
8437230664
Address
56 HALSEY BLVD, CHARLESTON, SC 29401

Signing Officer

Name
Charles M Jordan Jr
Title
Chair
Phone
8437230664
Signed
2019-03-22

Organization Details

Principal Officer
Charles M Jordan Jr
Formed
2015
Legal Domicile
Sc
Voting Board Members
9
Independent Board Members
7
Employees
0
Volunteers
38

Preparer

Firm
Glaser and Company LLC
Address
149 E BAY ST SUITE 200, CHARLESTON, SC 29401-3134
Preparer
Erik M Glaser CPA
Phone
8438490179
Supplemental Narrative

Additional Explanations

FORM 990 - ORGANIZATION'S MISSION

The mason prep school foundation supports mason prep school through strategic fundraising that provides scholarships and financial assistance to mason prep students, promotes the development of the mason prep faculty, and enhances and improves mason preps facilities and its educational programs.

Form 990, Page 2, Part III, Line 4A

For the 2018 fiscal year, the foundation supported the following initiatives at the mason preparatory school: - students in the third and fourth grades enjoyed refurbished classrooms with new, "break apart" desks and chairs that help facilitate differentiated learning. - upper classrooms received new stand-up desks to accommodate students' nontraditional learning preferences. - mason preparatory school faculty received opportunities for professional development, including k-2nd grade teachers who are registered to attend the highly acclaimed ron clark academy. - the foundation supported deserving families with tuition assistance through the mason preparatory school scholarship program.

Form 990, Part IX, Line 11G

Salary reimbursement - mp 0 36,070 66,986

Form 990, Part XI, Line 9

Prior period adjustment 200

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IRS990ScheduleA/Form990ScheduleAPartVIGrp/ExplanationTxt0THE FOUNDATION PROVIDES SCHOLARSHIP AND OTHER SUPPORT TO MASON PREPARATORY SCHOOL AS ITS PRIMARY FUNCTION.
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IRS990ScheduleI/RecipientTable/PurposeOfGrantTxt0CAPITAL & PROF DEV
IRS990ScheduleI/RecipientTable/PurposeOfGrantTxt1MSA - TUITION ASSIST
IRS990ScheduleI/RecipientTable/PurposeOfGrantTxt2TUITION ASSISTANCE
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IRS990ScheduleI/RecipientTable/USAddress/AddressLine1Txt256 HALSEY BOULEVARD
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IRS990ScheduleI/SupplementalInformationDetail/ExplanationTxt0THE BOARD OF DIRECTORS, IN CONCERT WITH THE NEEDS OF MASON PREPARATORY SCHOOL, SEEK TO RAISE FUNDS FOR A SPECIFIC PURPOSE AND NEED OF THE SCHOOL ANNUALLY. THE DISBURSEMENT OF SUCH FUNDS ARE MADE AFTER THE BOARD OF DIRECTORS APPROVES THE FUNDING REQUEST FROM THE SCHOOL.
IRS990ScheduleI/SupplementalInformationDetail/ExplanationTxt1MASON PREPARATORY SCHOOL IS COMMITTED TO THE EDUCATION OF THE WHOLE CHILD IN PREPARATION FOR SECONDARY EDUCATION THROUGH THE CULTIVATION OF RESPECT, INTEGRITY, AND PERSONAL RESPONSIBILITY WITHIN A NURTURING ENVIRONMENT THAT RESULTS IN A PRODUCTIVE CITIZEN OF A GLOBAL COMMUNINITY.
IRS990ScheduleI/SupplementalInformationDetail/FormAndLineReferenceDesc0SCHEDULE I, PAGE 1, PART I, LINE 2
IRS990ScheduleI/SupplementalInformationDetail/FormAndLineReferenceDesc1SCHEDULE I, PAGE 4, PART IV
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0THE MASON PREP SCHOOL FOUNDATION SUPPORTS MASON PREP SCHOOL THROUGH STRATEGIC FUNDRAISING THAT PROVIDES SCHOLARSHIPS AND FINANCIAL ASSISTANCE TO MASON PREP STUDENTS, PROMOTES THE DEVELOPMENT OF THE MASON PREP FACULTY, AND ENHANCES AND IMPROVES MASON PREPS FACILITIES AND ITS EDUCATIONAL PROGRAMS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1FOR THE 2018 FISCAL YEAR, THE FOUNDATION SUPPORTED THE FOLLOWING INITIATIVES AT THE MASON PREPARATORY SCHOOL: - STUDENTS IN THE THIRD AND FOURTH GRADES ENJOYED REFURBISHED CLASSROOMS WITH NEW, "BREAK APART" DESKS AND CHAIRS THAT HELP FACILITATE DIFFERENTIATED LEARNING. - UPPER CLASSROOMS RECEIVED NEW STAND-UP DESKS TO ACCOMMODATE STUDENTS' NONTRADITIONAL LEARNING PREFERENCES. - MASON PREPARATORY SCHOOL FACULTY RECEIVED OPPORTUNITIES FOR PROFESSIONAL DEVELOPMENT, INCLUDING K-2ND GRADE TEACHERS WHO ARE REGISTERED TO ATTEND THE HIGHLY ACCLAIMED RON CLARK ACADEMY. - THE FOUNDATION SUPPORTED DESERVING FAMILIES WITH TUITION ASSISTANCE THROUGH THE MASON PREPARATORY SCHOOL SCHOLARSHIP PROGRAM.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2MANAGEMENT AND THE OFFICERS OF THE BOARD OF DIRECTORS REVIEW THE FORM 990 WITH THE INDEPENDENT CPA FIRM. ONCE QUESTIONS ARE ADDRESSED, THE FORM IS UPDATED (AS NEEDED) AND THE FORM 990 IS SHARED WITH THE BOARD OF DIRECTORS FOR A COMMENT PERIOD. AT COMPLETION OF THE COMMENT PERIOD, THE FORM 990 IS ISSUED WITH THE IRS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3THE BOARD OF DIRECTORS IS REQUIRED TO ANNUAL DISCLOSE AND CERTIFY IF ANY CONFLICTS OF INTEREST EXIST.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4COMPENSATION FOR THE EXECUTIVE DIRECTOR IS APPROVED BY THE BOARD OF DIRECTORS THROUGH THE UNDERLYING SERVICE CONTRACT. THE COMPENSATION IS CONSIDERED AGAINST OTHER SIMILAR SIZED ORGANIZATIONS AND OTHER BENCHMARKS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5GOVERNING DOCUMENTS ARE AVAILABLE FROM THE FOUNDATION UPON REQUEST AT ITS CORPORATE OFFICES.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt6SALARY REIMBURSEMENT - MP 0 36,070 66,986
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt7PRIOR PERIOD ADJUSTMENT 200
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990 - ORGANIZATION'S MISSION
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IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PAGE 6, PART VI, LINE 11B
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IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc6FORM 990, PART IX, LINE 11G
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc7FORM 990, PART XI, LINE 9
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