Civic Intelligence

Mason Preparatory School

990 • Fiscal year 2018 • EIN 57-0447248

Jun 01, 2017 to May 31, 2018 • Filed on Apr 15, 2019

56 Halsey BoulevardCharleston, SC 29401

(843) 723-0664

Siviq Scores

Scores are not available for this record yet.

Balance Sheet

Assets

Flat

$13,783,376

Flat from 2018

Net Assets

Flat

$5,787,067

Flat from 2018

Liabilities

Flat

$7,996,309

Flat from 2018

Revenue And Expenses

Revenue

Flat

$4,900,149

Flat from 2018

Expenses

Flat

$4,894,558

Flat from 2018

Net Income

Flat

$5,591

Flat from 2018

Historical Trend

Balance Sheet Trend

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

$15M$10M$5.0M$0Assets 2010: $5,520,850Liabilities 2010: $797,848Net Assets 2010: $4,723,0022010Assets 2011: $5,755,044Liabilities 2011: $853,148Net Assets 2011: $4,901,8962011Assets 2012: $5,716,911Liabilities 2012: $914,827Net Assets 2012: $4,802,0842012Assets 2013: $5,809,042Liabilities 2013: $883,053Net Assets 2013: $4,925,9892013Assets 2014: $14,769,556Liabilities 2014: $8,935,158Net Assets 2014: $5,834,3982014Assets 2015: $14,050,094Liabilities 2015: $8,316,523Net Assets 2015: $5,733,5712015Assets 2016: $13,786,431Liabilities 2016: $8,217,921Net Assets 2016: $5,568,5102016Assets 2017: $13,657,390Liabilities 2017: $8,093,353Net Assets 2017: $5,564,0372017Assets 2018: $13,783,376Liabilities 2018: $7,996,309Net Assets 2018: $5,787,0672018Assets 2018: $13,783,376Liabilities 2018: $7,996,309Net Assets 2018: $5,787,0672018Assets 2019: $13,243,246Liabilities 2019: $7,386,937Net Assets 2019: $5,856,3092019Assets 2020: $13,805,910Liabilities 2020: $7,768,267Net Assets 2020: $6,037,6432020Assets 2021: $14,487,154Liabilities 2021: $7,221,584Net Assets 2021: $7,265,5702021Assets 2022: $14,263,846Liabilities 2022: $6,935,200Net Assets 2022: $7,328,6462022Assets 2023: $14,920,181Liabilities 2023: $6,803,759Net Assets 2023: $8,116,4222023

Highlighted filing

2018

Assets$13,783,376
Liabilities$7,996,309
Net Assets$5,787,067

Operations Trend

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

$6.0M$4.0M$2.0M$0-$2.0MExpenses 2010: $3,227,4672010Expenses 2011: $3,238,3212011Revenue 2012: $3,305,214Expenses 2012: $3,324,338Net Income 2012: -$19,1242012Expenses 2013: $3,555,8992013Revenue 2014: $4,925,591Expenses 2014: $4,003,861Net Income 2014: $921,7302014Revenue 2015: $4,432,974Expenses 2015: $4,556,101Net Income 2015: -$123,1272015Revenue 2016: $4,793,445Expenses 2016: $4,897,653Net Income 2016: -$104,2082016Revenue 2017: $4,457,052Expenses 2017: $4,881,447Net Income 2017: -$424,3952017Revenue 2018: $4,900,149Expenses 2018: $4,894,558Net Income 2018: $5,5912018Revenue 2018: $4,900,149Expenses 2018: $4,894,558Net Income 2018: $5,5912018Revenue 2019: $5,175,508Expenses 2019: $4,969,290Net Income 2019: $206,2182019Revenue 2020: $4,691,874Expenses 2020: $4,565,415Net Income 2020: $126,4592020Revenue 2021: $5,650,248Expenses 2021: $4,847,193Net Income 2021: $803,0552021Revenue 2022: $5,483,661Expenses 2022: $5,110,219Net Income 2022: $373,4422022Revenue 2023: $5,775,664Expenses 2023: $5,159,724Net Income 2023: $615,9402023

Highlighted filing

2018

Revenue$4,900,149
Expenses$4,894,558
Net Income$5,591
Jump To
Filing Snapshot
Filing Period
Jun 1, 2017 to May 31, 2018
Signed
Apr 15, 2019
Return Version
2017v2.3
Gross Receipts
$5,310,746
Mission and Program Overview

Mission

Mason 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 community.

Mason 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 community. We believe that each child should be: provided academic opportunities and learning experiences in order to fully develop intellectual potential guided to become a well-rounded individual-intellectually, morally, physically, and aesthetically instilled with a lifelong love of learning afforded the opportunity to become a creative and critical thinker directed to pursue definite and meaningful goals while strengthening self-concept and encouraged to develop self-discipline, responsibility, and accountability

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$8,688,502$8,431,036▼ $257,466
Cash and Non-Interest-Bearing Accounts$2,464,135$2,822,139▲ $358,004
Investments in Publicly Traded Securities$1,580,746$1,667,540▲ $86,794
Prepaid Expenses and Deferred Charges$142,987$124,736▼ $18,251
Intangible Assets$93,651$89,816▼ $3,835
Pledges and Grants Receivable$199,565$55,850▼ $143,715
Accounts Receivable$58,146$55,606▼ $2,540
Total Assets$13,657,390$13,783,376▲ $125,986
Other Assets Total$429,658$536,653▲ $106,995
Liabilities
Mortgage Notes Payable Secured by Investment Property$6,930,000$6,840,000▼ $90,000
Accounts Payable and Accrued Expenses$739,771$711,642▼ $28,129
Deferred Revenue$423,582$444,667▲ $21,085
Total Liabilities$8,093,353$7,996,309▼ $97,044
Net Assets / Fund Balance
Unrestricted Net Assets$5,203,943$5,409,714▲ $205,771
Permanently Rstr Net Assets$200,891$200,891→ $0
Temporarily Rstr Net Assets$159,203$176,462▲ $17,259
Total Net Assets Fund Balance$5,564,037$5,787,067▲ $223,030
Total Liabilities and Net Assets / Fund Balance$13,657,390$13,783,376▲ $125,986

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$6,779,339$2,858,033$9,637,372
Equipment$466,450$1,629,295$2,095,745
Land$994,979-$994,979
Other Land Buildings$190,268$282,781$473,049

Endowment Activity

PeriodBeginningContrib.Gain/LossOther UsesEnd
2017$305,592-▲ $25,159$-11,374$319,377
2016$280,443-▲ $34,343$-9,194$305,592
2015$279,782-▲ $8,956$-8,295$280,443
2014$288,335-▲ $16,237$-24,790$279,782
2013$281,725-▲ $29,901$-23,291$288,335
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
Erik KreutnerHead of SchoFT$143,772$14,094$157,866
Erik KreutnerHead of School-$143,772$14,094$157,866

Board Members and Trustees

NameTitle
Richard DavisChair
Jeremey CookVice Chair
Amy RileyDirector
Cody LenhardtDirector
Craig ColbyDirector
Dawn HowellDirector
Dr Dan RumphDirector
Heather VernerDirector
Laura BrissonDirector
Randy BatesDirector
Seton BrownDirector
Michael GreenSecretary
Katie KulpTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$225,000
Program Service Revenue
$4,612,779
Investment Income
$38,806
Other Revenue
$23,564
All Other Contributions
$225,000
Change in Net Assets
$5,591

Audited Revenue Reconciliation

Revenue per Audited Statements
$4,689,148
Revenue Not Reported on Financial Statements
$211,001
Revenue Not Reported on Form 990
$205,133
Other Revenue Adjustments
$211,001
Total Revenue per Audited Statements
$4,894,281
Total Revenue per Form 990
$4,900,149
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$3,401,337
Other Expenses$1,282,220
Grants and Similar Amounts Paid$211,001
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$2,197,277$455,602-$2,652,879
Occupancy$529,102$10,532-$539,634
Depreciation Depletion$443,223$23,328-$466,551
Other Employee Benefits$318,139--$318,139
Grants to Domestic Individuals$211,001--$211,001
Payroll Taxes$171,402$35,432-$206,834
Office Expenses$126,829$42,699-$169,528
Current Officers, Directors, Trustees, and Key Employees$116,912$38,984-$155,896
Pension Plan Contributions$52,783$14,806-$67,589
Advertising$24,756--$24,756
Fees for Services Legal-$18,805-$18,805
Fees for Service Investment Mgmnt Fees-$12,306-$12,306
Fees for Services Accounting-$10,100-$10,100
Information Technology$785$8,845-$9,630
Travel-$4,845-$4,845
Conferences and Meetings-$1,257-$1,257
Other Expenses$338$578-$338
All Other Expenses-$125-$125
Total Functional Expenses$4,206,447$688,111$0$4,894,558

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Form 990$4,894,558
Expenses per Audited Statements$4,671,251
Total Expenses per Audited Statements$4,671,251
Expenses Not Reported on Financial Statements$223,307
Other Expense Adjustments$223,307
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
Audit committee
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
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, Page 6, Part VI, Line 11B

A copy of the form 990 is provided to the board of directors for a comment and review period. Once this review is complete, the form 990 is filed with the internal revenue service and appropriate state agencies.

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

Annually, new board members are required to disclosure any possible conflict of interest to the board. Thereafter, the members are required to communicate any changes in this status.

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

These decisions are made by the board of directors through an evaluation of third-party information, salary surveys and other information.

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

These decisions are made by the board of directors through an evaluation of third-party information, salary surveys and other information.

Form 990, Page 6, Part VI, Line 19

Documents are made available for inspection upon request in the school's main office.

Filing and Contact Details

Filer

Filer Name
Mason Preparatory School
EIN
57-0447248
Phone
8437230664
Address
56 HALSEY BOULEVARD, CHARLESTON, SC 29401

Signing Officer

Name
Erik Kreutner
Title
Head of School
Phone
8437230664
Signed
2019-04-15

Organization Details

Principal Officer
Erik Kreutner
Formed
1964
Legal Domicile
Sc
Voting Board Members
13
Independent Board Members
13
Employees
121
Volunteers
43

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

Mason 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 community.

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

State of the art technology equipment with technology instruction beginning in kindergarten; 1:1 ipad/tablet program in grades 3-8 weekly curriculum including art, music, media center, physical education, guidance, french and/or spanish carnegie unit available in algebra i and french i or spanish i for proficient 8th grade students full time guidance counselor full time learning specialist after-school activities offered (see further below) varied sports programs offered (see further below) extended care available on full school days until 5:45 our graduates enroll in an outstanding variety of public and private high schools. Afterschool programs although the mason prep school day officially ends at 3:05 p.m., many options are available for students after school. Extended day offered on a flexible as-needed basis, the extended day program provides a supervised environment until 5:45 p.m., with time for homework as well as for recreation. Homework help is also available in study hall sessions conducted by staff members. Afterschool programs "mason prep welcomes the opportunity to coordinate various afterschool programs with outstanding organizations and professionals. Our programs provide our students in every grade with opportunities to expand their horizons through the arts, athletics, culture, math, science, strategy and engineering. The participants also continue to develop skills in the areas of communication, participation, fair play and persistence as the different activities broaden the world around them." - roseann jordan, assistant head of school athletics the mason prep faculty, staff, and coaches strive to develop the whole child, and our athletic program plays a significant part in this effort. Our program is designed to teach basic fundamental skills and then build on those skills at appropriate age levels. Fundamental skills and strategies in several sports can be mastered in the eight years at mason prep, and athletes who continue through the middle school years can make an easy transition to high school sports. Mason prep athletes also learn the meaning of hard work, integrity, responsibility, commitment, and sportsmanship - critically important traits for each athlete to take to the next level of sport and into adulthood. Tennis schedules mason prep 1 mason prep knights mason prep gold team sports mason preps teams typically involve grades 4 - 8. We play area schools, giving our children an opportunity to make new friends through sport. Volleyball (girls) in the fall of 2016, mason prep fielded four volleyball teams for girls in grades 5-8. The volleyball season runs from september to mid-october, with games played through the city of charleston recreational volleyball league. Basketball (girls and boys) the basketball program runs from mid-october through early february. During the 2016-17 season, mason prep fielded six teams for boys and girls in fourth through eighth grade in the trident basketball association. Lacrosse (boys) lacrosse is played in the spring through the mt. Pleasant recreation department's lacrosse league. For the past few years, mason prep has combined with charleston day school to field teams. Tennis (girls and boys, grades 4-8) - tennis season takes place in the spring with competitions through the charleston tennis center. Softball (girls, grades 6-8) - softball is played in the spring through the city of charleston recreation department. Developmental sports before students enter a competitive arena, developmental teams are offered in basketball in grades k - 3. These teams participate in intramural sessions with volunteer parent coaches. Rather than a win/loss record, each individual's performing to the best of his or her ability and development of fundamental skills are the mason prep measures of success.

Form 990, Part XI, Line 9

Change in beneficial interest 106,995 investment advisory fees -12,306 financial aid -211,001 financial aid 211,001 investment advisory fees 12,306 change in beneficial interest 0 total 106,995

Financial Statement Notes

Schedule D, Page 4, Part XI, Line 2D

Change in beneficial interest 106,995 investment advisory fees -12,306

Schedule D, Page 4, Part XI, Line 4B

FINANCIAL AID 211,001

Schedule D, Page 4, Part XII, Line 4B

Financial aid 211,001 investment advisory fees 12,306

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IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0CHANGE IN BENEFICIAL INTEREST 106,995 INVESTMENT ADVISORY FEES -12,306
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt1FINANCIAL AID 211,001
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt2FINANCIAL AID 211,001 INVESTMENT ADVISORY FEES 12,306
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0SCHEDULE D, PAGE 4, PART XI, LINE 2D
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc1SCHEDULE D, PAGE 4, PART XI, LINE 4B
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc2SCHEDULE D, PAGE 4, PART XII, LINE 4B
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Document Assets

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Filings

Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2023Summary only. Only limited summary data is available for this year.$14.9$6.80$8.12$5.78$5.16$0.62
2022Summary only. Only limited summary data is available for this year.$14.3$6.94$7.33$5.48$5.11$0.37
2021XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$14.5$7.22$7.27$5.65$4.85$0.80
2020Facts available. Structured filing facts are available, but richer extracted sections are limited.$13.8$7.77$6.04$4.69$4.57$0.13
2019Facts available. Structured filing facts are available, but richer extracted sections are limited.$13.2$7.39$5.86$5.18$4.97$0.21
2018Detailed filing. Detailed filing data is available for this year.$13.8$8.00$5.79$4.90$4.89$0.01
2018XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$13.8$8.00$5.79$4.90$4.89$0.01
2017XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$13.7$8.09$5.56$4.46$4.88$0.42
2016XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$13.8$8.22$5.57$4.79$4.90$0.10
2015Detailed filing. Detailed filing data is available for this year.$14.1$8.32$5.73$4.43$4.56$0.12
2014Detailed filing. Detailed filing data is available for this year.$14.8$8.94$5.83$4.93$4.00$0.92
2013Facts available. Structured filing facts are available, but richer extracted sections are limited.$5.81$0.88$4.93$3.56
2012Summary only. Only limited summary data is available for this year.$5.72$0.91$4.80$3.31$3.32$0.02
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$5.76$0.85$4.90$3.24
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$5.52$0.80$4.72$3.23