Civic Intelligence

Greystone Preparatory Schools Inc

990 • Fiscal year 2018 • EIN 52-2377318

Aug 01, 2017 to Jul 31, 2018 • Filed on Dec 07, 2018

Organization ProfileWWW.GREYSTONEPREPSCHOOL.ORG
2100 Memorial Blvd Cmb 6255Kerrville, TX 78028-5611

(830) 896-6530

Siviq Scores

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

Liabilities / Assets

75th percentile

0.06x

Higher debt load relative to assets than 75% of similar nonprofits.

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

Liabilities / Revenue

78th percentile

0.05x

Higher debt load relative to revenue than 78% of similar nonprofits.

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

Net Margin

59th percentile

7.5%

Higher net margin than 59% of similar nonprofits.

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

Top Officer Pay

98th percentile

$105,000

Higher top officer pay than 98% of similar nonprofits.

Top officer pay equals 25.6% of source-year revenue.

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

Asset Growth

60th percentile

7.4%

Faster asset growth than 60% of similar nonprofits.

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

Revenue Growth

23rd percentile

-21%

Faster revenue growth than 23% of similar nonprofits.

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

Balance Sheet
Liabilities / Assets75th percentile

Assets

Up

$346,479

Up $23,884 (+7.4%) from 2017

Net Assets

Up

$324,362

Up $30,924 (+11%) from 2017

Liabilities

Down

$22,117

Down $7,040 (-24%) from 2017

Revenue And Expenses
Liabilities / Revenue78th percentileNet Margin59th percentile

Revenue

Down

$409,718

Down $107,928 (-21%) from 2017

Expenses

Down

$378,851

Down $59,871 (-14%) from 2017

Net Income

Down

$30,867

Down $48,057 (-61%) from 2017

Historical Trend

Balance Sheet Trend

Asset Growth60th percentile

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

$400K$300K$200K$100K$0Assets 2011: $98,587Liabilities 2011: $39,839Net Assets 2011: $58,7482011Assets 2012: $126,397Liabilities 2012: $28,293Net Assets 2012: $98,1042012Assets 2013: $136,086Liabilities 2013: $6,359Net Assets 2013: $129,7272013Assets 2014: $144,795Liabilities 2014: $6,793Net Assets 2014: $138,0022014Assets 2015: $209,025Liabilities 2015: $7,165Net Assets 2015: $201,8602015Assets 2016: $220,353Liabilities 2016: $5,839Net Assets 2016: $214,5142016Assets 2017: $322,595Liabilities 2017: $29,157Net Assets 2017: $293,4382017Assets 2018: $346,479Liabilities 2018: $22,117Net Assets 2018: $324,3622018Assets 2019: $380,636Liabilities 2019: $16,047Net Assets 2019: $364,5892019Assets 2020: $332,852Liabilities 2020: $11,080Net Assets 2020: $321,7722020Assets 2021: $293,268Liabilities 2021: $6,491Net Assets 2021: $286,7772021Assets 2022: $294,323Liabilities 2022: $4,716Net Assets 2022: $289,6072022Assets 2023: $274,966Liabilities 2023: $2,126Net Assets 2023: $272,8402023Assets 2025: $0Liabilities 2025: $0Net Assets 2025: $02025

Highlighted filing

2018

Assets$346,479
Liabilities$22,117
Net Assets$324,362
Open 2018 Filing

Operations Trend

Revenue Growth23rd percentile

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

$600K$400K$200K$0-$200KRevenue 2011: $351,942Expenses 2011: $313,658Net Income 2011: $38,2842011Revenue 2012: $355,393Expenses 2012: $316,037Net Income 2012: $39,3562012Revenue 2013: $501,451Expenses 2013: $469,828Net Income 2013: $31,6232013Revenue 2014: $485,362Expenses 2014: $477,087Net Income 2014: $8,2752014Revenue 2015: $589,888Expenses 2015: $526,031Net Income 2015: $63,8572015Revenue 2016: $449,572Expenses 2016: $436,918Net Income 2016: $12,6542016Revenue 2017: $517,646Expenses 2017: $438,722Net Income 2017: $78,9242017Revenue 2018: $409,718Expenses 2018: $378,851Net Income 2018: $30,8672018Revenue 2019: $339,735Expenses 2019: $300,552Net Income 2019: $39,1832019Revenue 2020: $281,415Expenses 2020: $324,231Net Income 2020: -$42,8162020Revenue 2021: $200,152Expenses 2021: $235,148Net Income 2021: -$34,9962021Revenue 2022: $203,667Expenses 2022: $202,592Net Income 2022: $1,0752022Revenue 2023: $161,085Expenses 2023: $177,852Net Income 2023: -$16,7672023Revenue 2025: $1Expenses 2025: $38,261Net Income 2025: -$38,2602025

Highlighted filing

2018

Revenue$409,718
Expenses$378,851
Net Income$30,867
Open 2018 Filing
Jump To
Filing Snapshot
Filing Period
Aug 1, 2017 to Jul 31, 2018
Signed
Dec 7, 2018
Return Version
2017v2.3
Gross Receipts
$409,718
Mission and Program Overview

Mission

To prepare students academically, physically and ethically to qualify for and succeed at the coast guard academy, air force academy, military academy, merchant marine academy or naval academy. To provide students with the oversight, structure and organization to empower them to earn their appointment.

To provide an education that will meet the specific academic needs established by the united states military academy, the united states naval academy, the united states air force academy, the united states coast guard academy or the merchant marine academy, that will enable students to qualify for academy appointments.

Balance Sheet Detail
LineBeginningEndChange
Assets
Cash and Non-Interest-Bearing Accounts$208,533$235,349▲ $26,816
Investments Other Securities$70,537$72,650▲ $2,113
Land, Buildings, and Equipment, Net$43,525$34,236▼ $9,289
Prepaid Expenses and Deferred Charges-$4,244-
Total Assets$322,595$346,479▲ $23,884
Liabilities
Mortgage Notes Payable Secured by Investment Property$22,338$17,439▼ $4,899
Accounts Payable and Accrued Expenses$6,819$4,678▼ $2,141
Total Liabilities$29,157$22,117▼ $7,040
Net Assets / Fund Balance
Unrestricted Net Assets$257,819$303,385▲ $45,566
Temporarily Rstr Net Assets$35,619$20,977▼ $14,642
Total Net Assets Fund Balance$293,438$324,362▲ $30,924
Total Liabilities and Net Assets / Fund Balance$322,595$346,479▲ $23,884

Asset Categories

AssetBook ValueDepreciationBasis
Other Land Buildings$34,236$78,726$112,962
Other Securities$72,650--
Compensation and Service Providers
Top Officer Pay98th percentile

Employees

NameTitleFull / Part TimeBaseTotal
Cdr David Bailey Usn RetExecutive DirectorFT$105,000$105,000
Virginia SpikesSecretaryPT$7,100$7,100

Board Members and Trustees

NameTitle
Rdml Tilghman Payne Usn RetChairman
Col Bill Crum Usaf RetChairman Emeritus
Jack TeerVice Chairman
Brian ShirleyBoard of Directors
Lt Col John Young Usmc RetBoard of Directors
Nancy DickinsonBoard of Directors
Tim DrummondBoard of Directors
Hank MoodyTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$13,875
Program Service Revenue
$393,625
Investment Income
$2,218
Other Revenue
$0
All Other Contributions
$13,875
Change in Net Assets
$30,867
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$231,568
Other Expenses$120,298
Grants and Similar Amounts Paid$26,985
Total Fundraising Expense$8,787
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$66,675$40,688$2,888$110,251
Current Officers, Directors, Trustees, and Key Employees$73,500$26,250$5,250$105,000
Grants to Domestic Individuals$26,985--$26,985
Advertising$8,550$8,550-$17,100
Payroll Taxes$10,626$5,074$617$16,317
Travel$13,066--$13,066
Fees for Services Accounting-$9,450-$9,450
Depreciation Depletion$7,431$1,858-$9,289
Insurance$6,581$2,194-$8,775
Office Expenses$2,053$6,160-$8,213
All Other Expenses$1,676$1,818$32$3,526
Other Expenses$2,565$1,040-$2,565
Interest$549$61-$610
Total Functional Expenses$262,053$108,011$8,787$378,851
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
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
No
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, Part VI, Section B, Line 11B

“Prior to filing the form 990 the board of directors recieves a draft copy of the form 990 to review and discuss. The board either approves the 990 in its current condition or requests changes. Once appropriate changes are made the board reviews the revised form 990. Once the form is approved by all board members the form is signed and filed.”

Form 990, Part VI, Section B, Line 12C

“Our conflict of interest policy is monitored by the executive director and the chairman of the board. If any potential conflict of interest issues become evident, whether before or during a transaction, then it is communicated to various organizational leaders for monitoring, separation of decision making and any other actions needed to preclude a conflict. Any potential conflicts of interest are fully documented, reported to all board members and included in the board of directors minutes.”

Form 990, Part VI, Section C, Line 19

“The organization makes available to the public all organizational governing documents, the conflict of interest policy and audited financial statements available to the public upon request.”

Filing and Contact Details

Filer

Filer Name
Greystone Preparatory Schools Inc
EIN
52-2377318
Phone
8308966530
Address
2100 MEMORIAL BLVD CMB 6255, KERRVILLE, TX 78028-5611

Signing Officer

Name
David T Bailey
Title
Executive Director
Phone
8308966530
Signed
2018-12-07
Discuss with paid preparer
Yes

Organization Details

Principal Officer
David T Bailey
Formed
2002
Legal Domicile
TX
Voting Board Members
9
Independent Board Members
8
Employees
5
Volunteers
0

Preparer

Firm
Massey - Itschner & Co Pc
Address
707 HILL COUNTRY DRIVE SUITE 118, KERRVILLE, TX 78028
Preparer
Randy D Evans
Phone
8302575330
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IRS990/PYTotalProfFndrsngExpnsAmt00
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IRS990/ReportOtherAssetsInd00
IRS990/ReportOtherLiabilitiesInd00
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IRS990ScheduleD/TotalBookValueSecuritiesAmt072650
IRS990ScheduleE/ComplianceWithRevProc7550Ind01
IRS990ScheduleE/DiscriminateRaceAdmissPlcyInd00
IRS990ScheduleE/DiscriminateRaceAthltProgInd00
IRS990ScheduleE/DiscriminateRaceEducPlcyInd00
IRS990ScheduleE/DiscriminateRaceEmplmFcultyInd00
IRS990ScheduleE/DiscriminateRaceOtherActyInd00
IRS990ScheduleE/DiscriminateRaceSchsInd00
IRS990ScheduleE/DiscriminateRaceStdntsRghtsInd00
IRS990ScheduleE/DiscriminateRaceUseOfFcltsInd00
IRS990ScheduleE/GovernmentFinancialAidRcvdInd00
IRS990ScheduleE/GovernmentFinancialAidRvkdInd00
IRS990ScheduleE/MaintainCpyOfAllSolInd01
IRS990ScheduleE/MaintainCpyOfBrochuresEtcInd01
IRS990ScheduleE/MaintainRacialCompRecsInd01
IRS990ScheduleE/MaintainScholarshipsRecsInd01
IRS990ScheduleE/NondiscriminatoryPolicyStmtInd01
IRS990ScheduleE/PlcyPblczdViaBroadcastMediaInd01
IRS990ScheduleE/PolicyStmtInBrochuresEtcInd01
IRS990ScheduleE/SupplementalInformationDetail/ExplanationTxt0THE SCHOOL'S RACIALLY NONDISCRIMINATORY POLICY IS MADE PUBLICLY AVAILABLE THROUGH ITS BROCHURES AND ITS WEBSITE. IT IS ALSO CLEARLY STATED ON MATERIAL GIVEN TO THE VARIOUS MILITARY ACADEMIES WHICH SEND THE SCHOOL SOME OF ITS STUDENTS.
IRS990ScheduleE/SupplementalInformationDetail/FormAndLineReferenceDesc0SCHEDULE E, PART I, LINE 3
IRS990ScheduleI/GrantRecordsMaintainedInd01
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IRS990ScheduleI/GrantsOtherAsstToIndivInUSGrp/GrantTypeTxt0SCHOLARSHIPS
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IRS990ScheduleI/SupplementalInformationDetail/ExplanationTxt0GREYSTONE MADE EACH SCHOLARSHIP CHECK PAYABLE IN THE STUDENT'S NAME, BUT DELIVERED THE CHECKS DIRECTLY TO THE UNIVERSITY'S BUSINESS OFFICE FOR APPLICATION TO THEIR ACCOUNT TO INSURE THE FUNDS WERE USED IN THE MANNER DESIGNATED.
IRS990ScheduleI/SupplementalInformationDetail/FormAndLineReferenceDesc0PART I, LINE 2:
IRS990/ScheduleJRequiredInd00
IRS990/ScheduleORequiredInd01
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0PRIOR TO FILING THE FORM 990 THE BOARD OF DIRECTORS RECIEVES A DRAFT COPY OF THE FORM 990 TO REVIEW AND DISCUSS. THE BOARD EITHER APPROVES THE 990 IN ITS CURRENT CONDITION OR REQUESTS CHANGES. ONCE APPROPRIATE CHANGES ARE MADE THE BOARD REVIEWS THE REVISED FORM 990. ONCE THE FORM IS APPROVED BY ALL BOARD MEMBERS THE FORM IS SIGNED AND FILED.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1OUR CONFLICT OF INTEREST POLICY IS MONITORED BY THE EXECUTIVE DIRECTOR AND THE CHAIRMAN OF THE BOARD. IF ANY POTENTIAL CONFLICT OF INTEREST ISSUES BECOME EVIDENT, WHETHER BEFORE OR DURING A TRANSACTION, THEN IT IS COMMUNICATED TO VARIOUS ORGANIZATIONAL LEADERS FOR MONITORING, SEPARATION OF DECISION MAKING AND ANY OTHER ACTIONS NEEDED TO PRECLUDE A CONFLICT. ANY POTENTIAL CONFLICTS OF INTEREST ARE FULLY DOCUMENTED, REPORTED TO ALL BOARD MEMBERS AND INCLUDED IN THE BOARD OF DIRECTORS MINUTES.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2THE ORGANIZATION MAKES AVAILABLE TO THE PUBLIC ALL ORGANIZATIONAL GOVERNING DOCUMENTS, THE CONFLICT OF INTEREST POLICY AND AUDITED FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PART VI, SECTION B, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PART VI, SECTION B, LINE 12C
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PART VI, SECTION C, LINE 19
IRS990/SchoolOperatingInd01
IRS990/SignificantChangeInd00
IRS990/SignificantNewProgramSrvcInd00
IRS990/SubjectToProxyTaxInd00
IRS990/TaxablePartyNotificationInd00
IRS990/TaxExemptBondsInd00
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IRS990/TempOrPermanentEndowmentsInd00
IRS990/TerminateOperationsInd00
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IRS990/TotalCompGreaterThan150KInd00
IRS990/TotalContributionsAmt013875
IRS990/TotalEmployeeCnt05
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IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt0108011
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0262053
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IRS990/TotalGrossUBIAmt00
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IRS990/TotalLiabilitiesEOYAmt022117
IRS990/TotalLiabilitiesGrp/BOYAmt029157
IRS990/TotalLiabilitiesGrp/EOYAmt022117
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt0293438
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt0324362
IRS990/TotalOtherCompensationAmt00
IRS990/TotalProgramServiceExpensesAmt0262053
IRS990/TotalProgramServiceRevenueAmt0393625
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IRS990/TotalRevenueGrp/ExclusionAmt02218
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt0393625
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0409718
IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt00
IRS990/TotalVolunteersCnt00
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt0322595
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt0346479
IRS990/TotReportableCompRltdOrgAmt00
IRS990/TravelGrp/ProgramServicesAmt013066
IRS990/TravelGrp/TotalAmt013066
IRS990/TrnsfrExmptNonChrtblRltdOrgInd00
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd00
IRS990/UnrestrictedNetAssetsGrp/BOYAmt0257819
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IRS990/WebsiteAddressTxt0WWW.GREYSTONEPREPSCHOOL.ORG
IRS990/WhistleblowerPolicyInd00
ReturnHeader/BuildTS02019-02-21 02:37:17Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd01
ReturnHeader/BusinessOfficerGrp/PersonNm0DAVID T BAILEY
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0EXECUTIVE DIRECTOR
ReturnHeader/BusinessOfficerGrp/PhoneNum08308966530
ReturnHeader/BusinessOfficerGrp/SignatureDt02018-12-07
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ReturnHeader/FilingSecurityInformation/IPTimezoneCd0CS
ReturnHeader/FilingSecurityInformation/IPTm010:26:02
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0742752212
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0MASSEY - ITSCHNER & CO PC
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ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0KERRVILLE
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0TX
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ReturnHeader/PreparerPersonGrp/PreparationDt02018-12-07

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Displayed year

2018 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$346,479
Liabilities
$22,117
Net assets
$324,362
Revenue
$409,718
Expenses
$378,851
Net income
$30,867
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2025Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.00$0.00$0.00$0.00$0.38$0.38
2023Facts available. Structured filing facts are available, but richer extracted sections are limited.$2.75$0.02$2.73$1.61$1.78$0.17
2022XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$2.94$0.05$2.90$2.04$2.03$0.01
2021XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$2.93$0.06$2.87$2.00$2.35$0.35
2020XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$3.33$0.11$3.22$2.81$3.24$0.43
2019XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$3.81$0.16$3.65$3.40$3.01$0.39
2018Detailed filing. Detailed filing data is available for this year.$3.46$0.22$3.24$4.10$3.79$0.31
2017XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$3.23$0.29$2.93$5.18$4.39$0.79
2016Detailed filing. Detailed filing data is available for this year.$2.20$0.06$2.15$4.50$4.37$0.13
2015Summary only. Only limited summary data is available for this year.$2.09$0.07$2.02$5.90$5.26$0.64
2014Summary only. Only limited summary data is available for this year.$1.45$0.07$1.38$4.85$4.77$0.08
2013Summary only. Only limited summary data is available for this year.$1.36$0.06$1.30$5.01$4.70$0.32
2012Summary only. Only limited summary data is available for this year.$1.26$0.28$0.98$3.55$3.16$0.39
2011Summary only. Only limited summary data is available for this year.$0.99$0.40$0.59$3.52$3.14$0.38
Peer Organizations

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