Civic Intelligence

Highland Prep

990 • Fiscal year 2022 • EIN 47-4021506

Jul 01, 2021 to Jun 30, 2022 • Filed on May 12, 2023

Organization ProfileHIGHLANDPREPAZ.COM
15600 West Hearn RoadSurprise, AZ 85379

(623) 300-8385

Siviq Scores

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

Liabilities / Assets

91st percentile

0.92x

Higher debt load relative to assets than 91% of similar nonprofits.

2022 filings • 501(c)3 • $25M-$50M nonprofits • Source year 2022

Liabilities / Revenue

95th percentile

6.36x

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

2022 filings • 501(c)3 • $25M-$50M nonprofits • Source year 2022

Net Margin

77th percentile

25%

Higher net margin than 77% of similar nonprofits.

2022 filings • 501(c)3 • $25M-$50M nonprofits • Source year 2022

Top Officer Pay

11th percentile

$80,000

Higher top officer pay than 11% of similar nonprofits.

Top officer pay equals 1.4% of source-year revenue.

2022 filings • 501(c)3 • $25M-$50M nonprofits • Source year 2022

Asset Growth

98th percentile

183%

Faster asset growth than 98% of similar nonprofits.

2022 filings • 501(c)3 • $25M-$50M nonprofits • Annualized from 2021 to 2022

Revenue Growth

79th percentile

28%

Faster revenue growth than 79% of similar nonprofits.

2022 filings • 501(c)3 • $25M-$50M nonprofits • Annualized from 2021 to 2022

Balance Sheet
Liabilities / Assets91st percentile

Assets

Up

$39,857,042

Up $25,791,567 (+183%) from 2021

Net Assets

Up

$3,189,689

Up $1,446,476 (+83%) from 2021

Liabilities

Up

$36,667,353

Up $24,345,091 (+198%) from 2021

Revenue And Expenses
Liabilities / Revenue95th percentileNet Margin77th percentile

Revenue

Up

$5,768,398

Up $1,256,247 (+28%) from 2021

Expenses

Up

$4,321,922

Up $729,021 (+20%) from 2021

Net Income

Up

$1,446,476

Up $527,226 (+57%) from 2021

Historical Trend

Balance Sheet Trend

Asset Growth98th percentile

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

$40M$30M$20M$10M$0Assets 2018: $191,309Liabilities 2018: $108,330Net Assets 2018: $82,9792018Assets 2019: $666,778Liabilities 2019: $301,422Net Assets 2019: $365,3562019Assets 2020: $13,298,953Liabilities 2020: $12,474,990Net Assets 2020: $823,9632020Assets 2021: $14,065,475Liabilities 2021: $12,322,262Net Assets 2021: $1,743,2132021Assets 2022: $39,857,042Liabilities 2022: $36,667,353Net Assets 2022: $3,189,6892022Assets 2023: $37,713,306Liabilities 2023: $33,120,061Net Assets 2023: $4,593,2452023Assets 2024: $38,597,337Liabilities 2024: $33,178,390Net Assets 2024: $5,418,9472024

Highlighted filing

2022

Assets$39,857,042
Liabilities$36,667,353
Net Assets$3,189,689
Open 2022 Filing

Operations Trend

Revenue Growth79th percentile

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

$8.0M$6.0M$4.0M$2.0M$0Revenue 2018: $994,357Expenses 2018: $911,419Net Income 2018: $82,9382018Revenue 2019: $2,276,366Expenses 2019: $1,993,989Net Income 2019: $282,3772019Revenue 2020: $3,650,464Expenses 2020: $3,191,857Net Income 2020: $458,6072020Revenue 2021: $4,512,151Expenses 2021: $3,592,901Net Income 2021: $919,2502021Revenue 2022: $5,768,398Expenses 2022: $4,321,922Net Income 2022: $1,446,4762022Revenue 2023: $6,627,879Expenses 2023: $5,224,323Net Income 2023: $1,403,5562023Revenue 2024: $6,377,925Expenses 2024: $5,552,223Net Income 2024: $825,7022024

Highlighted filing

2022

Revenue$5,768,398
Expenses$4,321,922
Net Income$1,446,476
Open 2022 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2021 to Jun 30, 2022
Signed
May 12, 2023
Return Version
2021v4.0
Gross Receipts
$5,768,398
Mission and Program Overview

Mission

Highland prep is a science, technology, engineering, and math (stem) college-preparatory high school. Highland prep features a rigorous academic program with an emphasis on 21st century preparation defined by critical thinking and inquiry learning. Highland prep believes in tying course content to interrelated themes to increase relevance and application in the interest of preparing students to succeed in the future global arena.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$10,216,770$27,182,300▲ $16,965,530
Cash and Non-Interest-Bearing Accounts$3,826,438$12,591,010▲ $8,764,572
Pledges and Grants Receivable$16,456$71,682▲ $55,226
Prepaid Expenses and Deferred Charges$5,811$12,050▲ $6,239
Total Assets$14,065,475$39,857,042▲ $25,791,567
Liabilities
Tax Exempt Bond Liabilities$11,634,796$32,700,013▲ $21,065,217
Accounts Payable and Accrued Expenses$456,818$3,834,345▲ $3,377,527
Other Liabilities$230,648$132,995▼ $97,653
Total Liabilities$12,322,262$36,667,353▲ $24,345,091
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$1,743,213$3,189,689▲ $1,446,476
Total Net Assets Fund Balance$1,743,213$3,189,689▲ $1,446,476
Total Liabilities and Net Assets / Fund Balance$14,065,475$39,857,042▲ $25,791,567

Asset Categories

AssetBook ValueDepreciationBasis
Other Land Buildings$13,086,249-$13,086,249
Buildings$8,410,302$814,979$9,225,281
Land$5,428,215-$5,428,215
Equipment$257,534$95,630$353,164
Compensation and Service Providers
Top Officer Pay11th percentile

Employees

NameTitleFull / Part TimeBaseTotal
Dr Kerry ClarkDirectorPT$80,000$80,000

Board Members and Trustees

NameTitle
Annie GilbertDirector
Bill BresslerDirector
Don EnzDirector
Scott KiesDirector

Highest Paid Contractors

ContractorServicesLocationCompensation
Cadillac's CateringFood Service8416 S 15TH ST, Phoenix, AZ 85042$179,130
Revenue and Support

Revenue Composition

Contributions and Grants
$5,628,693
Program Service Revenue
$135,785
Investment Income
$2,688
Other Revenue
$1,232
Change in Net Assets
$1,446,476

Audited Revenue Reconciliation

Revenue per Audited Statements
$5,768,398
Total Revenue per Audited Statements
$5,768,398
Total Revenue per Form 990
$5,768,398
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$2,334,467
Salaries, Compensation, and Employee Benefits$1,987,455
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$1,435,158$277,857-$1,713,015
Office Expenses$582,345$13,630-$595,975
Interest$421,993$36,179-$458,172
Depreciation Depletion$331,209$36,800-$368,009
Fees for Services Other$297,927$66,208-$364,135
Occupancy$230,788$31,115-$261,903
Payroll Taxes$109,790$27,377-$137,167
Information Technology$131,600--$131,600
Current Officers, Directors, Trustees, and Key Employees-$80,000-$80,000
Pension Plan Contributions$44,880$11,220-$56,100
Advertising-$54,223-$54,223
Insurance$49,247--$49,247
Fees for Services Accounting-$40,115-$40,115
Fees for Services Legal-$5,451-$5,451
Travel$1,924$1,313-$3,237
Conferences and Meetings$2,400--$2,400
Other Employee Benefits$882$291-$1,173
Total Functional Expenses$3,640,143$681,779$0$4,321,922

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$4,321,922
Total Expenses per Audited Statements$4,321,922
Total Expenses per Form 990$4,321,922
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
Due to Affiliate$132,995

Bond Issues

BondIssuerIssuedIssue PricePurpose
BIda Bonds-series 20212021-07-22$22,778,509BUILDING PURCHASE
AIda Bonds-series 20192019-10-17$12,228,117BUILDING PURCHASE

Bond Proceeds

BondTotal ProceedsSpentRetiredIssuance Costs
B$22,778,509$371,819-$432,728
A$12,228,117$209,189-$319,645

Bond Financing Compliance

No rebate due
No
Rebate not yet due
No
Form 8038-T filed
No
Gross proceeds invested
No
Gross proceeds invested in GIC
No
Exception to rebate
No
Corrective action procedures
No
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 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
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

“A copy of the form 990 is distributed electronically to all board members for review and comment prior to being filed.”

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

“At each board meeting, if there is a discussion of selecting or engaging a vendor or service provider, all in attendance are asked to recuse themselves from the discussion if there could be a preceived conflict. Annually, the school reviews and discusses the conflict of interest policy and requests that each board member list and acknowledge any known conflicts.”

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

“The board of directors reviews the compensation of all top management officials by comparing compensation to the compensation of individuals in like positions, in comparable organizations using 990 forms, compensation studies, and other available data. The board then approves any changes in compensation based on this information.”

Form 990, Page 6, Part VI, Line 19

“The school will provide in a timely manner, copies of all governing documents, including its conflict of interest policy and financial statements, when requested in writing or in person.”

Filing and Contact Details

Filer

Filer Name
Highland Prep
EIN
47-4021506
Phone
6233008385
Address
15600 WEST HEARN ROAD, SURPRISE, AZ 85379

Signing Officer

Name
Dr Kerry Clark
Title
Director
Phone
6027453800
Signed
2023-05-12

Organization Details

Principal Officer
Dr Kerry Clark
Formed
2015
Legal Domicile
Az
Voting Board Members
5
Independent Board Members
5
Employees
61

Preparer

Firm
Aspire Business Consultants
Address
PO BOX 12084, GLENDALE, AZ 85318-2084
Preparer
Kristin Morgan
Phone
6028812483
Supplemental Narrative

Additional Explanations

FORM 990 - ORGANIZATION'S MISSION

“Highland prep is a science, technology, engineering, and math (stem) college-preparatory high school. Highland prep features a rigorous academic program with an emphasis on 21st century preparation defined by critical thinking and inquiry learning. Highland prep believes in tying course content to interrelated themes to increase relevance and application in the interest of preparing students to succeed in the future global arena.”

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IRS990ScheduleE/SupplementalInformationDetail/ExplanationTxt0THE SCHOOL HAS PUBLISHED ITS NONDISCRIMINATORY POLICY ON ITS WEBSITE, IN NEWSPAPERS THAT CIRCULATE IN COMMUNITIES IN CLOSE PROXIMITY TO THE SCHOOL, AND IN ALL STUDENT MATERIALS.
IRS990ScheduleE/SupplementalInformationDetail/ExplanationTxt1THE SCHOOL RECEIVES FUNDS FROM THE STATE OF ARIZONA FOR STATE EQUALIZATION ASSISTANCE AND FEDERAL ASSISTANCE FROM GRANTS.
IRS990ScheduleE/SupplementalInformationDetail/FormAndLineReferenceDesc0SCHEDULE E, LINE 3
IRS990ScheduleE/SupplementalInformationDetail/FormAndLineReferenceDesc1SCHEDULE E, LINE 6
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IRS990ScheduleK/SupplementalInformationDetail/ExplanationTxt0IDA BONDS-SERIES 2019 BUILDING PURCHASE
IRS990ScheduleK/SupplementalInformationDetail/ExplanationTxt1IDA BONDS-SERIES 2021 BUILDING PURCHASE
IRS990ScheduleK/SupplementalInformationDetail/FormAndLineReferenceDesc0PURPOSE OF ISSUE DESCRIPTION
IRS990ScheduleK/SupplementalInformationDetail/FormAndLineReferenceDesc1PURPOSE OF ISSUE DESCRIPTION
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IRS990ScheduleK/TaxExemptBondsArbitrageGrp/WrittenProcToMonitorReqsInd1true
IRS990ScheduleK/TaxExemptBondsIssuesGrp/BondIssuedDt02019-10-17
IRS990ScheduleK/TaxExemptBondsIssuesGrp/BondIssuedDt12021-07-22
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IRS990ScheduleK/TaxExemptBondsIssuesGrp/IssuerName/BusinessNameLine1Txt0IDA BONDS-SERIES 2019
IRS990ScheduleK/TaxExemptBondsIssuesGrp/IssuerName/BusinessNameLine1Txt1IDA BONDS-SERIES 2021
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IRS990ScheduleK/TaxExemptBondsIssuesGrp/OnBehalfOfIssuerInd1false
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IRS990ScheduleK/TaxExemptBondsIssuesGrp/PoolFinancingInd1false
IRS990ScheduleK/TaxExemptBondsIssuesGrp/PurposeDesc0BUILDING PURCHASE
IRS990ScheduleK/TaxExemptBondsIssuesGrp/PurposeDesc1BUILDING PURCHASE
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0HIGHLAND PREP IS A SCIENCE, TECHNOLOGY, ENGINEERING, AND MATH (STEM) COLLEGE-PREPARATORY HIGH SCHOOL. HIGHLAND PREP FEATURES A RIGOROUS ACADEMIC PROGRAM WITH AN EMPHASIS ON 21ST CENTURY PREPARATION DEFINED BY CRITICAL THINKING AND INQUIRY LEARNING. HIGHLAND PREP BELIEVES IN TYING COURSE CONTENT TO INTERRELATED THEMES TO INCREASE RELEVANCE AND APPLICATION IN THE INTEREST OF PREPARING STUDENTS TO SUCCEED IN THE FUTURE GLOBAL ARENA.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1A COPY OF THE FORM 990 IS DISTRIBUTED ELECTRONICALLY TO ALL BOARD MEMBERS FOR REVIEW AND COMMENT PRIOR TO BEING FILED.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2AT EACH BOARD MEETING, IF THERE IS A DISCUSSION OF SELECTING OR ENGAGING A VENDOR OR SERVICE PROVIDER, ALL IN ATTENDANCE ARE ASKED TO RECUSE THEMSELVES FROM THE DISCUSSION IF THERE COULD BE A PRECEIVED CONFLICT. ANNUALLY, THE SCHOOL REVIEWS AND DISCUSSES THE CONFLICT OF INTEREST POLICY AND REQUESTS THAT EACH BOARD MEMBER LIST AND ACKNOWLEDGE ANY KNOWN CONFLICTS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3THE BOARD OF DIRECTORS REVIEWS THE COMPENSATION OF ALL TOP MANAGEMENT OFFICIALS BY COMPARING COMPENSATION TO THE COMPENSATION OF INDIVIDUALS IN LIKE POSITIONS, IN COMPARABLE ORGANIZATIONS USING 990 FORMS, COMPENSATION STUDIES, AND OTHER AVAILABLE DATA. THE BOARD THEN APPROVES ANY CHANGES IN COMPENSATION BASED ON THIS INFORMATION.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4THE SCHOOL WILL PROVIDE IN A TIMELY MANNER, COPIES OF ALL GOVERNING DOCUMENTS, INCLUDING ITS CONFLICT OF INTEREST POLICY AND FINANCIAL STATEMENTS, WHEN REQUESTED IN WRITING OR IN PERSON.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990 - ORGANIZATION'S MISSION
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PAGE 6, PART VI, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PAGE 6, PART VI, LINE 12C
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PAGE 6, PART VI, LINE 15A
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PAGE 6, PART VI, LINE 19
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IRS990/TotalAssetsGrp/BOYAmt014065475

Document Assets

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Filings

Displayed year

2022 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$39,857,042
Liabilities
$36,667,353
Net assets
$3,189,689
Revenue
$5,768,398
Expenses
$4,321,922
Net income
$1,446,476
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$38.6$33.2$5.42$6.38$5.55$0.83
2023Detailed filing. Detailed filing data is available for this year.$37.7$33.1$4.59$6.63$5.22$1.40
2022Detailed filing. Detailed filing data is available for this year.$39.9$36.7$3.19$5.77$4.32$1.45
2021Detailed filing. Detailed filing data is available for this year.$14.1$12.3$1.74$4.51$3.59$0.92
2020Detailed filing. Detailed filing data is available for this year.$13.3$12.5$0.82$3.65$3.19$0.46
2019Detailed filing. Detailed filing data is available for this year.$0.67$0.30$0.37$2.28$1.99$0.28
2018Detailed filing. Detailed filing data is available for this year.$0.19$0.11$0.08$0.99$0.91$0.08