Civic Intelligence

Highland Prep

990 • Fiscal year 2023 • EIN 47-4021506

Jul 01, 2022 to Jun 30, 2023 • Filed on May 06, 2024

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

90th percentile

0.88x

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

2023 filings • 501(c)3 • $25M-$50M nonprofits • Source year 2023

Liabilities / Revenue

94th percentile

5.00x

Higher debt load relative to revenue than 94% of similar nonprofits.

2023 filings • 501(c)3 • $25M-$50M nonprofits • Source year 2023

Net Margin

78th percentile

21%

Higher net margin than 78% of similar nonprofits.

2023 filings • 501(c)3 • $25M-$50M nonprofits • Source year 2023

Top Officer Pay

13th percentile

$104,808

Higher top officer pay than 13% of similar nonprofits.

Top officer pay equals 1.6% of source-year revenue.

2023 filings • 501(c)3 • $25M-$50M nonprofits • Source year 2023

Asset Growth

12th percentile

-5.4%

Faster asset growth than 12% of similar nonprofits.

2023 filings • 501(c)3 • $25M-$50M nonprofits • Annualized from 2022 to 2023

Revenue Growth

68th percentile

15%

Faster revenue growth than 68% of similar nonprofits.

2023 filings • 501(c)3 • $25M-$50M nonprofits • Annualized from 2022 to 2023

Balance Sheet
Liabilities / Assets90th percentile

Assets

Down

$37,713,306

Down $2,143,736 (-5.4%) from 2022

Net Assets

Up

$4,593,245

Up $1,403,556 (+44%) from 2022

Liabilities

Down

$33,120,061

Down $3,547,292 (-9.7%) from 2022

Revenue And Expenses
Liabilities / Revenue94th percentileNet Margin78th percentile

Revenue

Up

$6,627,879

Up $859,481 (+15%) from 2022

Expenses

Up

$5,224,323

Up $902,401 (+21%) from 2022

Net Income

Down

$1,403,556

Down $42,920 (-3.0%) from 2022

Historical Trend

Balance Sheet Trend

Asset Growth12th 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

2023

Assets$37,713,306
Liabilities$33,120,061
Net Assets$4,593,245
Open 2023 Filing

Operations Trend

Revenue Growth68th 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

2023

Revenue$6,627,879
Expenses$5,224,323
Net Income$1,403,556
Open 2023 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2022 to Jun 30, 2023
Signed
May 6, 2024
Return Version
2022v5.0
Gross Receipts
$6,627,879
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$27,182,300$30,009,835▲ $2,827,535
Cash and Non-Interest-Bearing Accounts$12,591,010$5,257,219▼ $7,333,791
Savings and Temporary Cash Investments-$2,032,697-
Pledges and Grants Receivable$71,682$412,363▲ $340,681
Prepaid Expenses and Deferred Charges$12,050$1,192▼ $10,858
Total Assets$39,857,042$37,713,306▼ $2,143,736
Liabilities
Tax Exempt Bond Liabilities$32,700,013$32,495,114▼ $204,899
Accounts Payable and Accrued Expenses$3,834,345$616,259▼ $3,218,086
Other Liabilities$132,995$8,688▼ $124,307
Total Liabilities$36,667,353$33,120,061▼ $3,547,292
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$3,189,689$4,593,245▲ $1,403,556
Total Net Assets Fund Balance$3,189,689$4,593,245▲ $1,403,556
Total Liabilities and Net Assets / Fund Balance$39,857,042$37,713,306▼ $2,143,736

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$24,271,739$1,595,704$25,867,443
Land$5,428,215-$5,428,215
Equipment$309,881$168,823$478,704
Compensation and Service Providers
Top Officer Pay13th percentile

Employees

NameTitleFull / Part TimeBaseTotal
Dr Kerry ClarkDirectorFT$104,808$104,808

Board Members and Trustees

NameTitle
Bill BresslerDirector
Don EnzDirector
Annie GilbertMember
Dr Wendy OakesMember
Donald FlanaganTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$6,006,828
Program Service Revenue
$216,163
Investment Income
$114,148
Other Revenue
$290,740
Change in Net Assets
$1,403,556

Audited Revenue Reconciliation

Revenue per Audited Statements
$6,627,879
Total Revenue per Audited Statements
$6,627,879
Total Revenue per Form 990
$6,627,879
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$3,133,704
Salaries, Compensation, and Employee Benefits$2,090,619
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$1,421,515$377,887-$1,799,402
Depreciation Depletion$768,526$85,392-$853,918
Interest$623,690$69,299-$692,989
Office Expenses$581,972$19,585-$601,557
Occupancy$338,960$43,044-$382,004
Fees for Services Other$253,652$82,621-$336,273
Payroll Taxes$112,499$32,662-$145,161
Current Officers, Directors, Trustees, and Key Employees$49,063$49,062-$98,125
Information Technology$90,630--$90,630
Fees for Services Accounting-$88,860-$88,860
Insurance$48,431--$48,431
Other Employee Benefits$36,182$11,749-$47,931
Advertising-$32,407-$32,407
Travel-$6,635-$6,635
Total Functional Expenses$4,325,120$899,203$0$5,224,323

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$5,224,323
Total Expenses per Audited Statements$5,224,323
Total Expenses per Form 990$5,224,323
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$8,688

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
No
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
2024-05-06

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
17505 N 79TH AVE STE 405, GLENDALE, AZ 85308
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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IRS990ScheduleD/EquipmentGrp/BookValueAmt0309881
IRS990ScheduleD/EquipmentGrp/DepreciationAmt0168823
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IRS990ScheduleD/ExpensesSubtotalAmt05224323
IRS990ScheduleD/LandGrp/BookValueAmt05428215
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IRS990ScheduleE/DiscriminateRaceAthltProgInd0false
IRS990ScheduleE/DiscriminateRaceEducPlcyInd0false
IRS990ScheduleE/DiscriminateRaceEmplmFcultyInd0false
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IRS990ScheduleE/MaintainRacialCompRecsInd0true
IRS990ScheduleE/MaintainScholarshipsRecsInd0true
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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/ProceduresCorrectiveActionGrp/ProceduresCorrectiveActionInd1false
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/GrossProceedsInvestedInd1false
IRS990ScheduleK/TaxExemptBondsArbitrageGrp/GrossProceedsInvestedInGICInd0false
IRS990ScheduleK/TaxExemptBondsArbitrageGrp/GrossProceedsInvestedInGICInd1false
IRS990ScheduleK/TaxExemptBondsArbitrageGrp/HedgeIdentifiedInBksAndRecInd0false
IRS990ScheduleK/TaxExemptBondsArbitrageGrp/HedgeIdentifiedInBksAndRecInd1false
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IRS990ScheduleK/TaxExemptBondsArbitrageGrp/NoRebateDueInd1false
IRS990ScheduleK/TaxExemptBondsArbitrageGrp/RebateNotDueYetInd0false
IRS990ScheduleK/TaxExemptBondsArbitrageGrp/RebateNotDueYetInd1false
IRS990ScheduleK/TaxExemptBondsArbitrageGrp/VariableRateIssueInd0false
IRS990ScheduleK/TaxExemptBondsArbitrageGrp/VariableRateIssueInd1false
IRS990ScheduleK/TaxExemptBondsArbitrageGrp/WrittenProcToMonitorReqsInd0true
IRS990ScheduleK/TaxExemptBondsArbitrageGrp/WrittenProcToMonitorReqsInd1true
IRS990ScheduleK/TaxExemptBondsIssuesGrp/BondIssuedDt02019-10-17
IRS990ScheduleK/TaxExemptBondsIssuesGrp/BondIssuedDt12021-07-22
IRS990ScheduleK/TaxExemptBondsIssuesGrp/BondIssuerEIN0860445263
IRS990ScheduleK/TaxExemptBondsIssuesGrp/BondIssuerEIN1860445263
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IRS990ScheduleK/TaxExemptBondsIssuesGrp/DefeasedInd0false
IRS990ScheduleK/TaxExemptBondsIssuesGrp/DefeasedInd1false
IRS990ScheduleK/TaxExemptBondsIssuesGrp/IssuePriceAmt012228117
IRS990ScheduleK/TaxExemptBondsIssuesGrp/IssuePriceAmt122778509
IRS990ScheduleK/TaxExemptBondsIssuesGrp/IssuerName/BusinessNameLine1Txt0IDA BONDS-SERIES 2019
IRS990ScheduleK/TaxExemptBondsIssuesGrp/IssuerName/BusinessNameLine1Txt1IDA BONDS-SERIES 2021
IRS990ScheduleK/TaxExemptBondsIssuesGrp/OnBehalfOfIssuerInd0false
IRS990ScheduleK/TaxExemptBondsIssuesGrp/OnBehalfOfIssuerInd1false
IRS990ScheduleK/TaxExemptBondsIssuesGrp/PoolFinancingInd0false
IRS990ScheduleK/TaxExemptBondsIssuesGrp/PoolFinancingInd1false
IRS990ScheduleK/TaxExemptBondsIssuesGrp/PurposeDesc0BUILDING PURCHASE
IRS990ScheduleK/TaxExemptBondsIssuesGrp/PurposeDesc1BUILDING PURCHASE
IRS990ScheduleK/TaxExemptBondsPrivateBusUseGrp/AnyLeaseArrangementsInd0false
IRS990ScheduleK/TaxExemptBondsPrivateBusUseGrp/AnyLeaseArrangementsInd1false
IRS990ScheduleK/TaxExemptBondsPrivateBusUseGrp/AnyResearchAgreementsInd0false
IRS990ScheduleK/TaxExemptBondsPrivateBusUseGrp/AnyResearchAgreementsInd1false
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IRS990ScheduleK/TaxExemptBondsPrivateBusUseGrp/OwningBondFinancedPropertyInd0false
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IRS990ScheduleK/TaxExemptBondsPrivateBusUseGrp/ProcsNonqualifiedBondRemdtdInd1false
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IRS990ScheduleK/TaxExemptBondsProceedsGrp/CapitalExpendituresAmt119873536
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IRS990ScheduleK/TaxExemptBondsProceedsGrp/FinalAllocationMadeInd1true
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IRS990ScheduleK/TaxExemptBondsProceedsGrp/InReserveFundAmt11053600
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IRS990ScheduleK/TaxExemptBondsProceedsGrp/IssuanceCostsFromProceedsAmt1432728
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IRS990ScheduleK/TaxExemptBondsProceedsGrp/OtherSpentProceedsAmt1371819
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IRS990ScheduleK/TaxExemptBondsProceedsGrp/RefundingTaxExemptBondsInd0false
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IRS990ScheduleK/TaxExemptBondsProceedsGrp/SubstantialCompletionYr12023
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IRS990ScheduleK/TaxExemptBondsProceedsGrp/TotalProceedsAmt122778509
IRS990/ScheduleORequiredInd0true
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/SubjectToExcsTaxNetInvstIncInd0false
IRS990/SubjectToProxyTaxInd0false
IRS990/SubjToTaxRmnrtnExPrchtPymtInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondLiabilitiesGrp/BOYAmt032700013
IRS990/TaxExemptBondLiabilitiesGrp/EOYAmt032495114
IRS990/TaxExemptBondsInd0true
IRS990/TerminateOperationsInd0false
IRS990/TotalAssetsBOYAmt039857042
IRS990/TotalAssetsEOYAmt037713306

Document Assets

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Filings

Displayed year

2023 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$37,713,306
Liabilities
$33,120,061
Net assets
$4,593,245
Revenue
$6,627,879
Expenses
$5,224,323
Net income
$1,403,556
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