Civic Intelligence

Academy Prep Foundation Inc.

990 • Fiscal year 2020 • EIN 59-3377240

Jun 01, 2019 to May 31, 2020 • Filed on Apr 06, 2021

Organization ProfileWWW.ACADEMYPREP.ORG

View Organization Page

1021 Lakeland Hills BlvdLakeland, FL 33805

(727) 322-0800

Siviq Scores

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

Liabilities / Assets

15th percentile

0.01x

Higher debt load relative to assets than 15% of similar nonprofits.

2020 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2020

Liabilities / Revenue

39th percentile

0.20x

Higher debt load relative to revenue than 39% of similar nonprofits.

2020 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2020

Net Margin

87th percentile

39%

Higher net margin than 87% of similar nonprofits.

2020 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2020

Top Officer Pay

61st percentile

$208,011

Higher top officer pay than 61% of similar nonprofits.

Top officer pay equals 12.6% of source-year revenue.

2020 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2020

Asset Growth

93rd percentile

71%

Faster asset growth than 93% of similar nonprofits.

2020 filings • 501(c)3 • $10M-$25M nonprofits • Annualized from 2019 to 2020

Revenue Growth

24th percentile

-14%

Faster revenue growth than 24% of similar nonprofits.

2020 filings • 501(c)3 • $10M-$25M nonprofits • Annualized from 2019 to 2020

Balance Sheet
Liabilities / Assets15th percentile

Assets

Up

$24,886,519

Up $10,305,252 (+71%) from 2019

Net Assets

Up

$24,560,921

Up $10,237,182 (+71%) from 2019

Liabilities

Up

$325,598

Up $68,070 (+26%) from 2019

Revenue And Expenses
Liabilities / Revenue39th percentileNet Margin87th percentile

Revenue

Down

$1,655,995

Down $259,068 (-14%) from 2019

Expenses

Down

$1,007,693

Down $276,198 (-22%) from 2019

Net Income

Up

$648,302

Up $17,130 (+2.7%) from 2019

Historical Trend

Balance Sheet Trend

Asset Growth93rd percentile

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

$60M$40M$20M$0Assets 2011: $8,479,507Liabilities 2011: $250,978Net Assets 2011: $8,228,5292011Assets 2012: $7,773,435Liabilities 2012: $250,155Net Assets 2012: $7,523,2802012Assets 2013: $8,171,607Liabilities 2013: $288,372Net Assets 2013: $7,883,2352013Assets 2014: $8,576,508Liabilities 2014: $323,417Net Assets 2014: $8,253,0912014Assets 2015: $9,760,520Liabilities 2015: $298,457Net Assets 2015: $9,462,0632015Assets 2016: $9,922,686Liabilities 2016: $300,838Net Assets 2016: $9,621,8482016Assets 2017: $12,218,600Liabilities 2017: $282,858Net Assets 2017: $11,935,7422017Assets 2018: $14,007,425Liabilities 2018: $284,346Net Assets 2018: $13,723,0792018Assets 2019: $14,581,267Liabilities 2019: $257,528Net Assets 2019: $14,323,7392019Assets 2020: $24,886,519Liabilities 2020: $325,598Net Assets 2020: $24,560,9212020Assets 2021: $28,411,468Liabilities 2021: $388,503Net Assets 2021: $28,022,9652021Assets 2022: $38,353,670Liabilities 2022: $263,473Net Assets 2022: $38,090,1972022Assets 2023: $37,885,881Liabilities 2023: $274,017Net Assets 2023: $37,611,8642023Assets 2024: $42,463,776Liabilities 2024: $307,642Net Assets 2024: $42,156,1342024Assets 2025: $44,294,139Liabilities 2025: $296,291Net Assets 2025: $43,997,8482025

Highlighted filing

2020

Assets$24,886,519
Liabilities$325,598
Net Assets$24,560,921
Open 2020 Filing

Operations Trend

Revenue Growth24th percentile

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

$6.0M$4.0M$2.0M$0-$2.0MRevenue 2011: $442,374Expenses 2011: $1,145,332Net Income 2011: -$702,9582011Expenses 2012: $833,6252012Expenses 2013: $742,4322013Revenue 2014: $718,596Expenses 2014: $471,437Net Income 2014: $247,1592014Revenue 2015: $2,034,946Expenses 2015: $512,921Net Income 2015: $1,522,0252015Revenue 2016: $968,247Expenses 2016: $607,748Net Income 2016: $360,4992016Revenue 2017: $2,568,142Expenses 2017: $598,597Net Income 2017: $1,969,5452017Revenue 2018: $2,354,324Expenses 2018: $694,428Net Income 2018: $1,659,8962018Revenue 2019: $1,915,063Expenses 2019: $1,283,891Net Income 2019: $631,1722019Revenue 2020: $1,655,995Expenses 2020: $1,007,693Net Income 2020: $648,3022020Revenue 2021: $2,224,501Expenses 2021: $1,298,443Net Income 2021: $926,0582021Revenue 2022: $446,861Expenses 2022: $1,095,665Net Income 2022: -$648,8042022Revenue 2023: $5,822,433Expenses 2023: $1,235,952Net Income 2023: $4,586,4812023Revenue 2024: $1,964,303Expenses 2024: $1,605,376Net Income 2024: $358,9272024Revenue 2025: $3,849,470Expenses 2025: $2,619,007Net Income 2025: $1,230,4632025

Highlighted filing

2020

Revenue$1,655,995
Expenses$1,007,693
Net Income$648,302
Open 2020 Filing
Jump To
Filing Snapshot
Filing Period
Jun 1, 2019 to May 31, 2020
Signed
Apr 6, 2021
Return Version
2019v5.2
Gross Receipts
$2,157,733
Mission and Program Overview

Mission

Offer assistance and support to academy prep centers toward their mission to promote the educational, social and ethical development of middle school students through a rigorous academic program.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$5,545,944$14,787,403▲ $9,241,459
Investments in Publicly Traded Securities$6,989,513$9,312,593▲ $2,323,080
Cash and Non-Interest-Bearing Accounts$1,001,787$577,632▼ $424,155
Pledges and Grants Receivable$1,026,303$185,808▼ $840,495
Total Assets$14,581,267$24,886,519▲ $10,305,252
Other Assets Total$17,720$23,083▲ $5,363
Liabilities
Mortgage Notes Payable Secured by Investment Property$250,000$314,900▲ $64,900
Accounts Payable and Accrued Expenses$7,528$10,698▲ $3,170
Total Liabilities$257,528$325,598▲ $68,070
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$10,307,703$20,149,158▲ $9,841,455
Net Assets With Donor Restrictions$4,016,036$4,411,763▲ $395,727
Total Net Assets Fund Balance$14,323,739$24,560,921▲ $10,237,182
Total Liabilities and Net Assets / Fund Balance$14,581,267$24,886,519▲ $10,305,252

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$13,106,630$3,805,086$16,911,716
Land$1,680,773-$1,680,773
Equipment$0$10,509$10,509

Endowment Activity

PeriodBeginningContrib.Gain/LossOther UsesEnd
2019$7,697,290$326,100▲ $432,097-$8,258,543
2018$7,426,612$461,900▲ $230,278-$7,697,290
2017$6,227,790$859,721▲ $498,001-$7,426,612
2016$4,984,518$1,005,815▲ $499,957-$6,227,790
2015$4,687,095$532,700▼ $64,527-$4,984,518
Compensation and Service Providers
Top Officer Pay61st percentile

Employees

NameTitleFull / Part TimeBaseOtherTotal
Lincoln TamayoCOOPT$65,702$3,285$68,987
James HumboldtCFO (retired)PT$60,360$3,450$63,810

Board Members and Trustees

NameTitle
Tom SansoneChair
Chris BarrottTrustee
Elizabeth SemblerTrustee
Jeff FortuneTrustee
John Erik SavitskyTrustee
Oscar HortonTrustee
Patricia DouglasTrustee
Terri ScarcelliCFO
Paul L Whiting SrTreasurer

Highest Paid Contractors

ContractorServicesLocationCompensation
Modern Business AssociatesPeo/health Ins9455 KOGER BLVD N 200, St Petersburg, FL 33702$349,267
Revenue and Support

Revenue Composition

Contributions and Grants
$996,789
Program Service Revenue
$0
Investment Income
$642,101
Other Revenue
$17,105
All Other Contributions
$996,789
Change in Net Assets
$648,302

Audited Revenue Reconciliation

Revenue per Audited Statements
$1,616,101
Revenue Not Reported on Financial Statements
$39,894
Revenue Not Reported on Form 990
$668,111
Total Revenue per Audited Statements
$2,284,212
Total Revenue per Form 990
$1,655,995
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$623,424
Grants and Similar Amounts Paid$293,441
Salaries, Compensation, and Employee Benefits$90,828
Total Fundraising Expense$411
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Depreciation Depletion$548,923--$548,923
Grants to Domestic Orgs$293,441--$293,441
Current Officers, Directors, Trustees, and Key Employees-$80,628-$80,628
Fees for Service Investment Mgmnt Fees$39,894--$39,894
Fees for Services Accounting-$15,995-$15,995
Travel-$12,359-$12,359
Payroll Taxes-$6,168-$6,168
Other Expenses-$3,941$411$4,352
Pension Plan Contributions-$4,032-$4,032
Office Expenses-$1,901-$1,901
Total Functional Expenses$882,258$125,024$411$1,007,693

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Audited Statements$1,835,166
Total Expenses per Form 990$1,007,693
Expenses per Audited Statements$967,799
Expenses Not Reported on Form 990$867,367
Expenses Not Reported on Financial Statements$39,894
International Activity

Grant and Assistance Recipients

RecipientLocationCategoryPurposeAmount
Academy Prep Center of St PetersburgLakeland, FL3Endowment Distribution$120,800
Academy Prep Center of TampaLakeland, FL3Operating Expenses$10,000
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
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
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, Part VI, Section B, Line 11B

“The finance committee reviews the 990 and reports to the board. A copy of the 990 is provided to each board member prior to filing.”

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

“Trustees are asked to disclose any possible conflicts of interest and enforces the policy.”

Form 990, Part VI, Section B, Line 15

“The board approves all compensation and hiring.”

Form 990, Part VI, Section C, Line 19

“Printed governing documents, conflict of interest policy and financial statements available upon request.”

Filing and Contact Details

Filer

Filer Name
Academy Prep Foundation Inc
EIN
59-3377240
Phone
7273220800
Address
1021 LAKELAND HILLS BLVD, LAKELAND, FL 33805

Signing Officer

Name
Terri Scarcelli Ea
Title
CFO
Phone
8639408900
Signed
2021-04-06
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Terri Scarcelli Ea
Formed
1996
Legal Domicile
Fl
Voting Board Members
8
Independent Board Members
8
Employees
5
Volunteers
8

Preparer

Firm
Rivero Gordimer & Company Pa
Address
P O BOX 172359, TAMPA, FL 33672
Preparer
Sam a Lazzara
Phone
8138757774
Supplemental Narrative

Additional Explanations

Form 990, Part V, Line 2B

“Academy prep foundation, inc. Contracts with a professional employer organization(peo) for administration of the employees. Under this agreement, all employees of academy prep foundation, inc. Are in actuality leased from the peo. Due to this agreement, academy prep center of tampa, inc. Does not file form w-3 transmittal of wage and tax statements, but rather the peo will file form w-3 which would include the employees of academy prep foundation, inc. Leased personnel costs are broken down into components of salaries, payroll taxes, retirement, and other benefits and are reported on the appropriate schedules. For the year ended of may 31, 2020, academy prep foundation, inc. Utilized 5 employees through the peo.”

FORM 990, PART XI, LINE 9:

“Transfers from the schools to the foundation 9,788,136. Change in value of beneficial interest -18,435.”

Form 990, Part XII, Line 2C - Financial Statements and Reporting

“The organization has a commitee that assumes responsibility for oversight of the audit of its financial statements and selection of an independent accountant. This oversight process has not changed from the prior year.”

Form 990 Part XI, Line 9 - Other Changes in Net Assets

“The schools were established through a corporate restructuring of the foundation. The foundation is a funding source for the schools and owns the land and improvements that house the educational facilities for the schools construction of the new apl campus commenced during the year ended may 31, 2019 and was completed during the year ended may 31, 2020. At this time, the assets were transferred to the foundation. The land and construction in progress had a cost value of $9,788,136. The building was funded through private contributions, which have a stipulation that the land and building must be used to benefit the lakeland, florida community so long as it exists.”

Financial Statement Notes

PART V, LINE 4:

“The foundation's endowment funds are funds restricted or designated for graduate support programs of the schools and operating costs incurred by the schools related to the operation of their multifaceted learning centers. The endowments consist of money market funds, corporate debt and equity securities, governmental bonds and debt and equity funds. Income earned from the endowments is available for general or specific purposes. As required by accounting principles generally accepted in the united states of america, net assets associated with endowment funds are classified and reported based on the existence or absence of donor-imposed restrictions. These amounts are reported on this return and on the individual school's returns.”

PART XI, LINE 2D - OTHER ADJUSTMENTS:

“Change in value of beneficial interest -18,435.”

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IRS990/Form990PartVIISectionAGrp/TitleTxt4TRUSTEE
IRS990/Form990PartVIISectionAGrp/TitleTxt5TRUSTEE
IRS990/Form990PartVIISectionAGrp/TitleTxt6TRUSTEE
IRS990/Form990PartVIISectionAGrp/TitleTxt7TRUSTEE
IRS990/Form990PartVIISectionAGrp/TitleTxt8COO
IRS990/Form990PartVIISectionAGrp/TitleTxt9CFO
IRS990/Form990PartVIISectionAGrp/TitleTxt10CFO (RETIRED)
IRS990/Form990ProvidedToGvrnBodyInd01
IRS990/FormationYr01996
IRS990/FormerOfcrEmployeesListedInd00
IRS990/FSAuditedBasisGrp/SeparateBasisFinclStmtInd0X
IRS990/FSAuditedInd01
IRS990/FundraisingActivitiesInd00
IRS990/GainOrLossGrp/SecuritiesAmt0357129
IRS990/GamingActivitiesInd00
IRS990/GoverningBodyVotingMembersCnt08
IRS990/GrantAmt0293441
IRS990/GrantsToDomesticOrgsGrp/ProgramServicesAmt0293441
IRS990/GrantsToDomesticOrgsGrp/TotalAmt0293441
IRS990/GrantsToIndividualsInd00
IRS990/GrantsToOrganizationsInd01
IRS990/GrantToRelatedPersonInd00
IRS990/GrossAmountSalesAssetsGrp/SecuritiesAmt0858867
IRS990/GrossReceiptsAmt02157733
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IRS990/IncludeFIN48FootnoteInd00
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IRS990/IndoorTanningServicesInd00
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IRS990/InfoInScheduleOPartVInd0X
IRS990/InfoInScheduleOPartXIIInd0X
IRS990/InfoInScheduleOPartXIInd0X
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IRS990/InvestmentIncomeGrp/TotalRevenueColumnAmt0284972
IRS990/InvestmentInJointVentureInd00
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IRS990/InvestmentsPubTradedSecGrp/EOYAmt09312593
IRS990/IRPDocumentCnt00
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IRS990/LandBldgEquipBasisNetGrp/EOYAmt014787403
IRS990/LandBldgEquipCostOrOtherBssAmt018602998
IRS990/LegalDomicileStateCd0FL
IRS990/LessCostOthBasisSalesExpnssGrp/SecuritiesAmt0501738
IRS990/LoanOutstandingInd00
IRS990/LobbyingActivitiesInd00
IRS990/LocalChaptersInd00
IRS990/MaterialDiversionOrMisuseInd00
IRS990/MembersOrStockholdersInd00
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IRS990/MinutesOfCommitteesInd01
IRS990/MinutesOfGoverningBodyInd01
IRS990/MissionDesc0OFFER ASSISTANCE AND SUPPORT TO ACADEMY PREP CENTERS TOWARD THEIR MISSION TO PROMOTE THE EDUCATIONAL, SOCIAL AND ETHICAL DEVELOPMENT OF MIDDLE SCHOOL STUDENTS THROUGH A RIGOROUS ACADEMIC PROGRAM.
IRS990/MoreThan5000KToIndividualsInd00
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IRS990/MortgNotesPyblScrdInvstPropGrp/EOYAmt0314900
IRS990/NetAssetsOrFundBalancesBOYAmt014323739
IRS990/NetAssetsOrFundBalancesEOYAmt024560921
IRS990/NetGainOrLossInvestmentsGrp/ExclusionAmt0357129
IRS990/NetGainOrLossInvestmentsGrp/TotalRevenueColumnAmt0357129
IRS990/NetUnrelatedBusTxblIncmAmt00
IRS990/NetUnrlzdGainsLossesInvstAmt0-180821
IRS990/NoDonorRestrictionNetAssetsGrp/BOYAmt010307703
IRS990/NoDonorRestrictionNetAssetsGrp/EOYAmt020149158
IRS990/NondeductibleContributionsInd00
IRS990/OfficeExpensesGrp/ManagementAndGeneralAmt01901
IRS990/OfficeExpensesGrp/TotalAmt01901
IRS990/OfficerMailingAddressInd00
IRS990/OperateHospitalInd00
IRS990/Organization501c3Ind0X
IRS990/OrganizationFollowsFASB117Ind0X
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IRS990/OtherAssetsTotalGrp/EOYAmt023083
IRS990/OtherChangesInNetAssetsAmt09769701
IRS990/OtherExpensesGrp/Desc0MISCELLANEOUS
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IRS990/OtherExpensesGrp/ManagementAndGeneralAmt03941
IRS990/OtherExpensesGrp/TotalAmt04352
IRS990/OtherRevenueMiscGrp/BusinessCd0611110
IRS990/OtherRevenueMiscGrp/Desc0OTHER INCOME
IRS990/OtherRevenueMiscGrp/RelatedOrExemptFuncIncomeAmt017105
IRS990/OtherRevenueMiscGrp/TotalRevenueColumnAmt017105
IRS990/OtherRevenueTotalAmt017105
IRS990/OtherWebsiteInd0X
IRS990/PartialLiquidationInd00
IRS990/PayPremiumsPrsnlBnftCntrctInd00
IRS990/PayrollTaxesGrp/ManagementAndGeneralAmt06168
IRS990/PayrollTaxesGrp/TotalAmt06168
IRS990/PensionPlanContributionsGrp/ManagementAndGeneralAmt04032
IRS990/PensionPlanContributionsGrp/TotalAmt04032
IRS990/PledgesAndGrantsReceivableGrp/BOYAmt01026303
IRS990/PledgesAndGrantsReceivableGrp/EOYAmt0185808
IRS990/PoliticalCampaignActyInd00
IRS990/PrincipalOfficerNm0TERRI SCARCELLI EA
IRS990/ProfessionalFundraisingInd00
IRS990/ProgSrvcAccomActy2Grp/Desc0N/A
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IRS990/ProhibitedTaxShelterTransInd00
IRS990/PYBenefitsPaidToMembersAmt00
IRS990/PYContributionsGrantsAmt01631713
IRS990/PYExcessBenefitTransInd00
IRS990/PYGrantsAndSimilarPaidAmt0889277
IRS990/PYInvestmentIncomeAmt0283350
IRS990/PYOtherExpensesAmt0313476
IRS990/PYOtherRevenueAmt00
IRS990/PYProgramServiceRevenueAmt00
IRS990/PYRevenuesLessExpensesAmt0631172
IRS990/PYSalariesCompEmpBnftPaidAmt081138
IRS990/PYTotalExpensesAmt01283891
IRS990/PYTotalProfFndrsngExpnsAmt00
IRS990/PYTotalRevenueAmt01915063
IRS990/QuidProQuoContributionsInd01
IRS990/QuidProQuoContriDisclInd01
IRS990/RcvFndsToPayPrsnlBnftCntrctInd00
IRS990/ReconcilationRevenueExpnssAmt0648302
IRS990/RegularMonitoringEnfrcInd01
IRS990/RelatedEntityInd01
IRS990/RelatedOrganizationCtrlEntInd00
IRS990/ReportInvestmentsOtherSecInd00
IRS990/ReportLandBuildingEquipmentInd01
IRS990/ReportOtherAssetsInd00
IRS990/ReportOtherLiabilitiesInd00
IRS990/ReportProgramRelatedInvstInd00
IRS990ScheduleA/Form990SchASupportingOrgGrp/Contribution35ControlledInd00
IRS990ScheduleA/Form990SchASupportingOrgGrp/ContributionControllerInd00
IRS990ScheduleA/Form990SchASupportingOrgGrp/ContributionFamilyInd00
IRS990ScheduleA/Form990SchASupportingOrgGrp/ControlledDisqualifiedPrsnInd00
IRS990ScheduleA/Form990SchASupportingOrgGrp/DisqualifiedPrsnControllIntInd00
IRS990ScheduleA/Form990SchASupportingOrgGrp/DisqualifiedPrsnOwnrIntInd00
IRS990ScheduleA/Form990SchASupportingOrgGrp/ExcessBusinessHoldingsRulesInd00
IRS990ScheduleA/Form990SchASupportingOrgGrp/ListedByNameGoverningDocInd01
IRS990ScheduleA/Form990SchASupportingOrgGrp/LoanDisqualifiedPersonInd00
IRS990ScheduleA/Form990SchASupportingOrgGrp/OrganizationChangeSuprtOrgInd00
IRS990ScheduleA/Form990SchASupportingOrgGrp/PaymentSubstantialContribtrInd00
IRS990ScheduleA/Form990SchASupportingOrgGrp/SupportedOrgNotOrganizedUSInd00
IRS990ScheduleA/Form990SchASupportingOrgGrp/SupportedOrgSectionC456Ind00
IRS990ScheduleA/Form990SchASupportingOrgGrp/SupportNonSupportedOrgInd00
IRS990ScheduleA/Form990SchASupportingOrgGrp/SuprtOrgNoIRSDeterminationInd00
IRS990ScheduleA/Form990SchAType3FuncIntGrp/ActivitiesEngagedOrgInvlmntInd01
IRS990ScheduleA/Form990SchAType3FuncIntGrp/ActivitiesFurtherExemptPrpsInd01
IRS990ScheduleA/Form990SchAType3FuncIntGrp/ActivitiesTestInd0X
IRS990ScheduleA/Form990SchAType3SprtOrgAllGrp/OfficersCloseRelationshipInd01
IRS990ScheduleA/Form990SchAType3SprtOrgAllGrp/SupportedOrgVoiceInvestmentInd00
IRS990ScheduleA/Form990SchAType3SprtOrgAllGrp/TimelyProvidedDocumentsInd01
IRS990ScheduleA/Form990ScheduleAPartVIGrp/ExplanationTxt0THE FOUNDATION IS A SUPPORTING ORGANIZATION WHICH IS ORGANIZED AND OPERATED EXCLUSIVELY FOR THE BENEFIT OF, TO PERFORM THE FUNCTIONS OF, OR TO CARRY OUT THE PURPOSES OF ONE OR MORE PUBLICALLY SUPPORTED ORGANIZATIONS. THE FOUNDATION SUPPORTS THREE SCHOOLS, ACADEMY PREP CENTER OF TAMPA, INC. (EIN 59,3622978), ACADEMY PREP CENTER OF ST. PETERSBURG, INC. (EIN 59-3623000) AND ACADEMY PREP CENTER OF LAKELAND, INC. (EIN 82-4257263). AN EVALUATION OF THE PUBLIC SUPPORT OF THE SCHOOLS SHOWS ALL THREE ORGANIZATIONS RECEIVE OVER 33.33% OF THEIR SUPPORT FROM THE PUBLIC. THE FOUNDATION'S ENDOWMENT FUNDS ARE FUNDS RESTRICTED OR DESIGNATED FOR GRADUATE SUPPORT PROGRAMS OF THE SCHOOLS AND OPERATING COSTS INCURRED BY THE SCHOOLS RELATED TO THE OPERATION OF THEIR MULTIFACETED LEARNING CENTERS. THE ENDOWMENTS CONSIST OF MONEY MARKET FUNDS, CORPORATE DEBT AND EQUITY SECURITIES, GOVERNMENTAL BONDS AND DEBT AND EQUITY FUNDS. INCOME EARNED FROM THE ENDOWMENTS IS AVAILABLE FOR GENERAL OR SPECIFIC PUPOSES. AS REQUIRED BY ACCOUNTING PRINCIPLES GENERALLY ACCEPTED IN THE UNITED STATES OF AMERICA, NET ASSETS ASSOCIATED WITH ENDOWMENT FUNDS ARE CLASSIFIED AND REPORTED BASED ON THE EXISTENCE OR ABSENCE OF DONOR-IMPOSED RESTRICTIONS.
IRS990ScheduleA/Form990ScheduleAPartVIGrp/ExplanationTxt1THE FOUNDATION IS A FUNDING SOURCE FOR THE SCHOOLS AND OWNS THE LAND AND IMPROVEMENTS THAT HOUSE THE EDUCATIONAL FACILITIES FOR THE SCHOOLS. THE FOUNDATION IS IN A POSITION OF INFLUENCE TO THE SCHOOLS, POTENTIALLY RESULTING IN OUTCOMES THAT COULD BE SIGNIFICANTLY DIFFERENT IF THESE ENTITIES WERE AUTONOMOUS. THE FOUNDATION'S INVESTMENTS AND SUPPORT ARE IMPORTANT FOR THE FUTURE OF THE SCHOOLS, HOWEVER, IF THE FOUNDATION DID NOT EXIST, THE SCHOOLS WOULD CARRY ON WITH THESE INVESTMENT ACTIVITIES INDIVIDUALLY.
IRS990ScheduleA/Form990ScheduleAPartVIGrp/FormAndLineReferenceDesc0PART IV, SECTION E, LINE 2A:
IRS990ScheduleA/Form990ScheduleAPartVIGrp/FormAndLineReferenceDesc1PART IV, SECTION E, LINE 2B:
IRS990ScheduleA/OtherSupportSumAmt0460489
IRS990ScheduleA/SupportedOrganizationsCnt03
IRS990ScheduleA/SupportedOrganizationsTotalCnt03
IRS990ScheduleA/SupportedOrgInformationGrp/EIN0593622978
IRS990ScheduleA/SupportedOrgInformationGrp/EIN1593623000
IRS990ScheduleA/SupportedOrgInformationGrp/EIN2824257263
IRS990ScheduleA/SupportedOrgInformationGrp/GoverningDocumentListedInd01
IRS990ScheduleA/SupportedOrgInformationGrp/GoverningDocumentListedInd11
IRS990ScheduleA/SupportedOrgInformationGrp/GoverningDocumentListedInd21
IRS990ScheduleA/SupportedOrgInformationGrp/OrganizationTypeCd02
IRS990ScheduleA/SupportedOrgInformationGrp/OrganizationTypeCd12
IRS990ScheduleA/SupportedOrgInformationGrp/OrganizationTypeCd22
IRS990ScheduleA/SupportedOrgInformationGrp/OtherSupportAmt0226869
IRS990ScheduleA/SupportedOrgInformationGrp/OtherSupportAmt1233620
IRS990ScheduleA/SupportedOrgInformationGrp/OtherSupportAmt20
IRS990ScheduleA/SupportedOrgInformationGrp/SupportAmt010000
IRS990ScheduleA/SupportedOrgInformationGrp/SupportAmt1120800
IRS990ScheduleA/SupportedOrgInformationGrp/SupportAmt2569519
IRS990ScheduleA/SupportedOrgInformationGrp/SupportedOrganizationName/BusinessNameLine1Txt0ACADEMY PREP CENTER OF TAMPA INC
IRS990ScheduleA/SupportedOrgInformationGrp/SupportedOrganizationName/BusinessNameLine1Txt1ACADEMY PREP CENTER OF ST PETERSBURG INC
IRS990ScheduleA/SupportedOrgInformationGrp/SupportedOrganizationName/BusinessNameLine1Txt2ACADEMY PREP CENTER OF LAKELAND INC
IRS990ScheduleA/SupportingOrganization509a3Ind0X
IRS990ScheduleA/SupportingOrgType3FuncIntInd0X
IRS990ScheduleA/SupportSumAmt0700319
IRS990ScheduleB/ContributorInformationGrp/ContributorBusinessName/BusinessNameLine10RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorNum0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/AddressLine10RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/AddressLine20RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/City0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/State0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/ZIPCode0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/TotalContributionsAmt0RESTRICTED
IRS990/ScheduleBRequiredInd01
IRS990ScheduleD/BoardDesignatedBalanceEOYPct00.62800
IRS990ScheduleD/BuildingsGrp/BookValueAmt013106630
IRS990ScheduleD/BuildingsGrp/DepreciationAmt03805086
IRS990ScheduleD/BuildingsGrp/OtherCostOrOtherBasisAmt016911716
IRS990ScheduleD/CYEndwmtFundGrp/BeginningYearBalanceAmt07697290
IRS990ScheduleD/CYEndwmtFundGrp/ContributionsAmt0326100
IRS990ScheduleD/CYEndwmtFundGrp/EndYearBalanceAmt08258543
IRS990ScheduleD/CYEndwmtFundGrp/GrantsOrScholarshipsAmt0196944
IRS990ScheduleD/CYEndwmtFundGrp/InvestmentEarningsOrLossesAmt0432097
IRS990ScheduleD/CYMinus1YrEndwmtFundGrp/BeginningYearBalanceAmt07426612
IRS990ScheduleD/CYMinus1YrEndwmtFundGrp/ContributionsAmt0461900
IRS990ScheduleD/CYMinus1YrEndwmtFundGrp/EndYearBalanceAmt07697290
IRS990ScheduleD/CYMinus1YrEndwmtFundGrp/GrantsOrScholarshipsAmt0421500
IRS990ScheduleD/CYMinus1YrEndwmtFundGrp/InvestmentEarningsOrLossesAmt0230278
IRS990ScheduleD/CYMinus2YrEndwmtFundGrp/BeginningYearBalanceAmt06227790
IRS990ScheduleD/CYMinus2YrEndwmtFundGrp/ContributionsAmt0859721
IRS990ScheduleD/CYMinus2YrEndwmtFundGrp/EndYearBalanceAmt07426612
IRS990ScheduleD/CYMinus2YrEndwmtFundGrp/GrantsOrScholarshipsAmt0158900
IRS990ScheduleD/CYMinus2YrEndwmtFundGrp/InvestmentEarningsOrLossesAmt0498001
IRS990ScheduleD/CYMinus3YrEndwmtFundGrp/BeginningYearBalanceAmt04984518
IRS990ScheduleD/CYMinus3YrEndwmtFundGrp/ContributionsAmt01005815
IRS990ScheduleD/CYMinus3YrEndwmtFundGrp/EndYearBalanceAmt06227790
IRS990ScheduleD/CYMinus3YrEndwmtFundGrp/GrantsOrScholarshipsAmt0262500
IRS990ScheduleD/CYMinus3YrEndwmtFundGrp/InvestmentEarningsOrLossesAmt0499957
IRS990ScheduleD/CYMinus4YrEndwmtFundGrp/BeginningYearBalanceAmt04687095
IRS990ScheduleD/CYMinus4YrEndwmtFundGrp/ContributionsAmt0532700
IRS990ScheduleD/CYMinus4YrEndwmtFundGrp/EndYearBalanceAmt04984518
IRS990ScheduleD/CYMinus4YrEndwmtFundGrp/GrantsOrScholarshipsAmt0170750
IRS990ScheduleD/CYMinus4YrEndwmtFundGrp/InvestmentEarningsOrLossesAmt0-64527
IRS990ScheduleD/DonatedServicesAndUseFcltsAmt0867367
IRS990ScheduleD/DonatedServicesUseFcltsAmt0867367
IRS990ScheduleD/EndowmentsHeldRelatedOrgInd00
IRS990ScheduleD/EndowmentsHeldUnrelatedOrgInd01
IRS990ScheduleD/EquipmentGrp/BookValueAmt00
IRS990ScheduleD/EquipmentGrp/DepreciationAmt010509
IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt010509
IRS990ScheduleD/ExpensesNotReportedAmt0867367
IRS990ScheduleD/ExpensesNotRptFinclStmtAmt039894
IRS990ScheduleD/ExpensesSubtotalAmt0967799
IRS990ScheduleD/InvestmentExpensesNotIncld2Amt039894
IRS990ScheduleD/InvestmentExpensesNotIncldAmt039894
IRS990ScheduleD/LandGrp/BookValueAmt01680773
IRS990ScheduleD/LandGrp/OtherCostOrOtherBasisAmt01680773
IRS990ScheduleD/NetUnrealizedGainsInvstAmt0-180821
IRS990ScheduleD/OtherRevenueAmt0-18435
IRS990ScheduleD/PrmnntEndowmentBalanceEOYPct00.34200
IRS990ScheduleD/RevenueNotReportedAmt0668111
IRS990ScheduleD/RevenueNotReportedFinclStmtAmt039894
IRS990ScheduleD/RevenueSubtotalAmt01616101
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0THE FOUNDATION'S ENDOWMENT FUNDS ARE FUNDS RESTRICTED OR DESIGNATED FOR GRADUATE SUPPORT PROGRAMS OF THE SCHOOLS AND OPERATING COSTS INCURRED BY THE SCHOOLS RELATED TO THE OPERATION OF THEIR MULTIFACETED LEARNING CENTERS. THE ENDOWMENTS CONSIST OF MONEY MARKET FUNDS, CORPORATE DEBT AND EQUITY SECURITIES, GOVERNMENTAL BONDS AND DEBT AND EQUITY FUNDS. INCOME EARNED FROM THE ENDOWMENTS IS AVAILABLE FOR GENERAL OR SPECIFIC PURPOSES. AS REQUIRED BY ACCOUNTING PRINCIPLES GENERALLY ACCEPTED IN THE UNITED STATES OF AMERICA, NET ASSETS ASSOCIATED WITH ENDOWMENT FUNDS ARE CLASSIFIED AND REPORTED BASED ON THE EXISTENCE OR ABSENCE OF DONOR-IMPOSED RESTRICTIONS. THESE AMOUNTS ARE REPORTED ON THIS RETURN AND ON THE INDIVIDUAL SCHOOL'S RETURNS.
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt1CHANGE IN VALUE OF BENEFICIAL INTEREST -18,435.

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Displayed year

2020 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$24,886,519
Liabilities
$325,598
Net assets
$24,560,921
Revenue
$1,655,995
Expenses
$1,007,693
Net income
$648,302
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2025Detailed filing. Detailed filing data is available for this year.$44.3$0.30$44.0$3.85$2.62$1.23
2024XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$42.5$0.31$42.2$1.96$1.61$0.36
2023XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$37.9$0.27$37.6$5.82$1.24$4.59
2022XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$38.4$0.26$38.1$0.45$1.10$0.65
2021XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$28.4$0.39$28.0$2.22$1.30$0.93
2020Detailed filing. Detailed filing data is available for this year.$24.9$0.33$24.6$1.66$1.01$0.65
2019XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$14.6$0.26$14.3$1.92$1.28$0.63
2018XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$14.0$0.28$13.7$2.35$0.69$1.66
2017XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$12.2$0.28$11.9$2.57$0.60$1.97
2016Detailed filing. Detailed filing data is available for this year.$9.92$0.30$9.62$0.97$0.61$0.36
2015Detailed filing. Detailed filing data is available for this year.$9.76$0.30$9.46$2.03$0.51$1.52
2014Detailed filing. Detailed filing data is available for this year.$8.58$0.32$8.25$0.72$0.47$0.25
2013Facts available. Structured filing facts are available, but richer extracted sections are limited.$8.17$0.29$7.88$0.74
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$7.77$0.25$7.52$0.83
2011Summary only. Only limited summary data is available for this year.$8.48$0.25$8.23$0.44$1.15$0.70