Civic Intelligence

Academy Prep Foundation Inc.

990 • Fiscal year 2022 • EIN 59-3377240

Jun 01, 2021 to May 31, 2022 • Filed on Jan 23, 2023

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

10th percentile

0.01x

Higher debt load relative to assets than 10% of similar nonprofits.

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

Liabilities / Revenue

68th percentile

0.59x

Higher debt load relative to revenue than 68% of similar nonprofits.

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

Net Margin

2nd percentile

-145%

Higher net margin than 2% of similar nonprofits.

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

Top Officer Pay

38th percentile

$209,131

Higher top officer pay than 38% of similar nonprofits.

Top officer pay equals 46.8% of source-year revenue.

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

Asset Growth

89th percentile

35%

Faster asset growth than 89% of similar nonprofits.

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

Revenue Growth

2nd percentile

-80%

Faster revenue growth than 2% of similar nonprofits.

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

Balance Sheet
Liabilities / Assets10th percentile

Assets

Up

$38,353,670

Up $9,942,202 (+35%) from 2021

Net Assets

Up

$38,090,197

Up $10,067,232 (+36%) from 2021

Liabilities

Down

$263,473

Down $125,030 (-32%) from 2021

Revenue And Expenses
Liabilities / Revenue68th percentileNet Margin2nd percentile

Revenue

Down

$446,861

Down $1,777,640 (-80%) from 2021

Expenses

Down

$1,095,665

Down $202,778 (-16%) from 2021

Net Income

Down

-$648,804

Down $1,574,862 (-170%) from 2021

Historical Trend

Balance Sheet Trend

Asset Growth89th 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

2022

Assets$38,353,670
Liabilities$263,473
Net Assets$38,090,197
Open 2022 Filing

Operations Trend

Revenue Growth2nd 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

2022

Revenue$446,861
Expenses$1,095,665
Net Income-$648,804
Open 2022 Filing
Jump To
Filing Snapshot
Filing Period
Jun 1, 2021 to May 31, 2022
Signed
Jan 23, 2023
Return Version
2021v4.2
Gross Receipts
$3,543,716
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
Investments in Publicly Traded Securities$13,700,069$23,309,076▲ $9,609,007
Land, Buildings, and Equipment, Net$14,241,131$13,953,391▼ $287,740
Cash and Non-Interest-Bearing Accounts$377,060$985,395▲ $608,335
Pledges and Grants Receivable$93,208$93,208→ $0
Total Assets$28,411,468$38,353,670▲ $9,942,202
Other Assets Total-$12,600-
Liabilities
Mortgage Notes Payable Secured by Investment Property$250,000$250,000→ $0
Other Liabilities$124,864$0▼ $124,864
Accounts Payable and Accrued Expenses$13,639$13,473▼ $166
Total Liabilities$388,503$263,473▼ $125,030
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$22,714,416$33,387,972▲ $10,673,556
Net Assets With Donor Restrictions$5,308,549$4,702,225▼ $606,324
Total Net Assets Fund Balance$28,022,965$38,090,197▲ $10,067,232
Total Liabilities and Net Assets / Fund Balance$28,411,468$38,353,670▲ $9,942,202

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$12,179,348$4,732,368$16,911,716
Land$1,781,089-$1,781,089
Equipment$-7,046$11,153$4,107

Endowment Activity

PeriodBeginningContrib.Gain/LossOther UsesEnd
2021$12,263,440$9,353,612▼ $397,747$686,563$20,532,742
2020$8,258,543$1,861,917▲ $2,142,980-$12,263,440
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
Compensation and Service Providers
Top Officer Pay38th percentile

Employees

NameTitleFull / Part TimeBaseOtherTotal
Lincoln TamayoCOOPT$112,292$96,839$112,292
Terri ScarcelliCFOPT-$92,077$92,077

Board Members and Trustees

NameTitle
Tom SansoneChair
Bryant JonesTrustee
Chris BarrottTrustee
Elizabeth SemblerTrustee
Oscar HortonTrustee
Patricia DouglasTrustee
John Erik SavitskySecretary
Paul L Whiting SrTreasurer

Highest Paid Contractors

ContractorServicesLocationCompensation
Modern Business AssociatesPeo/health Ins9455 KOGER BLVD N 200, St Petersburg, FL 33702$501,894
Revenue and Support

Revenue Composition

Contributions and Grants
$802,270
Program Service Revenue
$0
Investment Income
$-355,409
Other Revenue
$0
All Other Contributions
$802,270
Change in Net Assets
$-648,804

Audited Revenue Reconciliation

Revenue per Audited Statements
$381,804
Revenue Not Reported on Financial Statements
$65,057
Revenue Not Reported on Form 990
$787,107
Total Revenue per Audited Statements
$1,168,911
Total Revenue per Form 990
$446,861
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Grants and Similar Amounts Paid$503,371
Other Expenses$480,002
Salaries, Compensation, and Employee Benefits$112,292
Total Fundraising Expense$553
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Grants to Domestic Orgs$503,371--$503,371
Depreciation Depletion$388,056--$388,056
Current Officers, Directors, Trustees, and Key Employees-$112,292-$112,292
Fees for Service Investment Mgmnt Fees$65,057--$65,057
Fees for Services Accounting-$21,925-$21,925
Office Expenses-$2,711-$2,711
Other Expenses-$785$553$1,338
Travel-$915-$915
Total Functional Expenses$956,484$138,628$553$1,095,665

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Audited Statements$1,897,975
Total Expenses per Form 990$1,095,665
Expenses per Audited Statements$1,030,608
Expenses Not Reported on Form 990$867,367
Expenses Not Reported on Financial Statements$65,057
International Activity

Grant and Assistance Recipients

RecipientLocationCategoryPurposeAmount
Academy Prep Center of St PetersburgSt Petersburg, FL3Operating Expenses and Graduate Support$334,504
Academy Prep Center of LakelandLakeland, FL3Operating Expenses and Graduate Support$32,500
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
2023-01-23
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
10
Volunteers
10

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 foundation, 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, 2022, academy prep foundation, inc. Utilized 8 employees through the peo.”

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

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

FORM 990, PART XI, LINE 9:

“Transfers from the schools to the foundation 10,796,296. Change in value of beneficial interest -102,979.”

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 X, LINE 2:

“The foundation is not aware of any tax positions it has taken that are subject to a significant degree of uncertainty. Tax years after 2018 remain subject to examination by federal and state taxing authorities.”

PART XI, LINE 2D - OTHER ADJUSTMENTS:

“Change in value of beneficial interest -102,979.”

Raw XML AppendixShowing 400 of 657 raw XML fields

This appendix keeps the raw XML leaves available for debugging and edge-case review. The human report above is the primary experience.

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IRS990/GrantsToDomesticOrgsGrp/ProgramServicesAmt0503371
IRS990/GrantsToDomesticOrgsGrp/TotalAmt0503371
IRS990/GrantsToIndividualsInd00
IRS990/GrantsToOrganizationsInd01
IRS990/GrantToRelatedPersonInd00
IRS990/GrossAmountSalesAssetsGrp/SecuritiesAmt02388007
IRS990/GrossReceiptsAmt03543716
IRS990/GroupReturnForAffiliatesInd00
IRS990/IncludeFIN48FootnoteInd01
IRS990/IndependentAuditFinclStmtInd01
IRS990/IndependentVotingMemberCnt08
IRS990/IndivRcvdGreaterThan100KCnt01
IRS990/IndoorTanningServicesInd00
IRS990/InfoInScheduleOPartVIInd0X
IRS990/InfoInScheduleOPartVInd0X
IRS990/InfoInScheduleOPartXIInd0X
IRS990/InvestmentIncomeGrp/RelatedOrExemptFuncIncomeAmt0353439
IRS990/InvestmentIncomeGrp/TotalRevenueColumnAmt0353439
IRS990/InvestmentInJointVentureInd00
IRS990/InvestmentsPubTradedSecGrp/BOYAmt013700069
IRS990/InvestmentsPubTradedSecGrp/EOYAmt023309076
IRS990/IRPDocumentCnt00
IRS990/IRPDocumentW2GCnt00
IRS990/LandBldgEquipAccumDeprecAmt04743521
IRS990/LandBldgEquipBasisNetGrp/BOYAmt014241131
IRS990/LandBldgEquipBasisNetGrp/EOYAmt013953391
IRS990/LandBldgEquipCostOrOtherBssAmt018696912
IRS990/LegalDomicileStateCd0FL
IRS990/LessCostOthBasisSalesExpnssGrp/SecuritiesAmt03096855
IRS990/LoanOutstandingInd00
IRS990/LobbyingActivitiesInd00
IRS990/LocalChaptersInd00
IRS990/MaterialDiversionOrMisuseInd00
IRS990/MembersOrStockholdersInd00
IRS990/MethodOfAccountingAccrualInd0X
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
IRS990/MoreThan5000KToOrgInd00
IRS990/MortgNotesPyblScrdInvstPropGrp/BOYAmt0250000
IRS990/MortgNotesPyblScrdInvstPropGrp/EOYAmt0250000
IRS990/NetAssetsOrFundBalancesBOYAmt028022965
IRS990/NetAssetsOrFundBalancesEOYAmt038090197
IRS990/NetGainOrLossInvestmentsGrp/ExclusionAmt0-708848
IRS990/NetGainOrLossInvestmentsGrp/TotalRevenueColumnAmt0-708848
IRS990/NetUnrelatedBusTxblIncmAmt00
IRS990/NetUnrlzdGainsLossesInvstAmt022719
IRS990/NoDonorRestrictionNetAssetsGrp/BOYAmt022714416
IRS990/NoDonorRestrictionNetAssetsGrp/EOYAmt033387972
IRS990/NondeductibleContributionsInd00
IRS990/OfficeExpensesGrp/ManagementAndGeneralAmt02711
IRS990/OfficeExpensesGrp/TotalAmt02711
IRS990/OfficerMailingAddressInd00
IRS990/OperateHospitalInd00
IRS990/Organization501c3Ind0X
IRS990/OrganizationFollowsFASB117Ind0X
IRS990/OtherAssetsTotalGrp/EOYAmt012600
IRS990/OtherChangesInNetAssetsAmt010693317
IRS990/OtherExpensesGrp/Desc0MISCELLANEOUS
IRS990/OtherExpensesGrp/FundraisingAmt0553
IRS990/OtherExpensesGrp/ManagementAndGeneralAmt0785
IRS990/OtherExpensesGrp/TotalAmt01338
IRS990/OtherLiabilitiesGrp/BOYAmt0124864
IRS990/OtherLiabilitiesGrp/EOYAmt00
IRS990/OtherWebsiteInd0X
IRS990/PartialLiquidationInd00
IRS990/PayPremiumsPrsnlBnftCntrctInd00
IRS990/PledgesAndGrantsReceivableGrp/BOYAmt093208
IRS990/PledgesAndGrantsReceivableGrp/EOYAmt093208
IRS990/PoliticalCampaignActyInd00
IRS990/PrincipalOfficerNm0TERRI SCARCELLI EA
IRS990/ProfessionalFundraisingInd00
IRS990/ProgSrvcAccomActy2Grp/Desc0N/A
IRS990/ProgSrvcAccomActy3Grp/Desc0N/A
IRS990/ProhibitedTaxShelterTransInd00
IRS990/PYBenefitsPaidToMembersAmt00
IRS990/PYContributionsGrantsAmt0610479
IRS990/PYExcessBenefitTransInd00
IRS990/PYGrantsAndSimilarPaidAmt0572707
IRS990/PYInvestmentIncomeAmt01612361
IRS990/PYOtherExpensesAmt0634986
IRS990/PYOtherRevenueAmt01661
IRS990/PYProgramServiceRevenueAmt00
IRS990/PYRevenuesLessExpensesAmt0926058
IRS990/PYSalariesCompEmpBnftPaidAmt090750
IRS990/PYTotalExpensesAmt01298443
IRS990/PYTotalProfFndrsngExpnsAmt00
IRS990/PYTotalRevenueAmt02224501
IRS990/QuidProQuoContributionsInd01
IRS990/QuidProQuoContriDisclInd01
IRS990/RcvFndsToPayPrsnlBnftCntrctInd00
IRS990/ReconcilationRevenueExpnssAmt0-648804
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 FOUNDATON 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 RECEIVED OVER 33.33% OF THEIR SUPPORT FROM THE PUBLIC. THE FOUNDATION'S ENDOWMENT FUNDS ARE FUNDS RESTRICTED OR DESIGNATED FOR GRAUDATE SUPPORT PROGRAMS OF THE SCHOOLS AND OPERATING COSTS INCURRED BY THE SCHOOLS RELATED TO THE OPERATIION OF THEIR MULIFACTED 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 EXISTENCED 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 INDIVIDIUALLY.
IRS990ScheduleA/Form990ScheduleAPartVIGrp/FormAndLineReferenceDesc0PART IV, SECTION E, LINE 2A
IRS990ScheduleA/Form990ScheduleAPartVIGrp/FormAndLineReferenceDesc1PART IV, SECTION E, LINE 2B
IRS990ScheduleA/OtherSupportSumAmt0998734
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/OtherSupportAmt0229611
IRS990ScheduleA/SupportedOrgInformationGrp/OtherSupportAmt1196862
IRS990ScheduleA/SupportedOrgInformationGrp/OtherSupportAmt2572261
IRS990ScheduleA/SupportedOrgInformationGrp/SupportAmt05000
IRS990ScheduleA/SupportedOrgInformationGrp/SupportAmt1334504
IRS990ScheduleA/SupportedOrgInformationGrp/SupportAmt232500
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/SupportSumAmt0372004
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/BoardDesignatedBalanceEOYPct00.84000
IRS990ScheduleD/BuildingsGrp/BookValueAmt012179348
IRS990ScheduleD/BuildingsGrp/DepreciationAmt04732368
IRS990ScheduleD/BuildingsGrp/OtherCostOrOtherBasisAmt016911716
IRS990ScheduleD/CYEndwmtFundGrp/BeginningYearBalanceAmt012263440
IRS990ScheduleD/CYEndwmtFundGrp/ContributionsAmt09353612
IRS990ScheduleD/CYEndwmtFundGrp/EndYearBalanceAmt020532742
IRS990ScheduleD/CYEndwmtFundGrp/InvestmentEarningsOrLossesAmt0-397747
IRS990ScheduleD/CYEndwmtFundGrp/OtherExpendituresAmt0686563
IRS990ScheduleD/CYMinus1YrEndwmtFundGrp/BeginningYearBalanceAmt08258543
IRS990ScheduleD/CYMinus1YrEndwmtFundGrp/ContributionsAmt01861917
IRS990ScheduleD/CYMinus1YrEndwmtFundGrp/EndYearBalanceAmt012263440
IRS990ScheduleD/CYMinus1YrEndwmtFundGrp/InvestmentEarningsOrLossesAmt02142980
IRS990ScheduleD/CYMinus2YrEndwmtFundGrp/BeginningYearBalanceAmt07697290
IRS990ScheduleD/CYMinus2YrEndwmtFundGrp/ContributionsAmt0326100
IRS990ScheduleD/CYMinus2YrEndwmtFundGrp/EndYearBalanceAmt08258543
IRS990ScheduleD/CYMinus2YrEndwmtFundGrp/GrantsOrScholarshipsAmt0196944
IRS990ScheduleD/CYMinus2YrEndwmtFundGrp/InvestmentEarningsOrLossesAmt0432097
IRS990ScheduleD/CYMinus3YrEndwmtFundGrp/BeginningYearBalanceAmt07426612
IRS990ScheduleD/CYMinus3YrEndwmtFundGrp/ContributionsAmt0461900
IRS990ScheduleD/CYMinus3YrEndwmtFundGrp/EndYearBalanceAmt07697290
IRS990ScheduleD/CYMinus3YrEndwmtFundGrp/GrantsOrScholarshipsAmt0421500
IRS990ScheduleD/CYMinus3YrEndwmtFundGrp/InvestmentEarningsOrLossesAmt0230278
IRS990ScheduleD/CYMinus4YrEndwmtFundGrp/BeginningYearBalanceAmt06227790
IRS990ScheduleD/CYMinus4YrEndwmtFundGrp/ContributionsAmt0859721
IRS990ScheduleD/CYMinus4YrEndwmtFundGrp/EndYearBalanceAmt07426612
IRS990ScheduleD/CYMinus4YrEndwmtFundGrp/GrantsOrScholarshipsAmt0158900
IRS990ScheduleD/CYMinus4YrEndwmtFundGrp/InvestmentEarningsOrLossesAmt0498001
IRS990ScheduleD/DonatedServicesAndUseFcltsAmt0867367
IRS990ScheduleD/DonatedServicesUseFcltsAmt0867367
IRS990ScheduleD/EndowmentsHeldRelatedOrgInd00
IRS990ScheduleD/EndowmentsHeldUnrelatedOrgInd01
IRS990ScheduleD/EquipmentGrp/BookValueAmt0-7046
IRS990ScheduleD/EquipmentGrp/DepreciationAmt011153
IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt04107
IRS990ScheduleD/ExpensesNotReportedAmt0867367
IRS990ScheduleD/ExpensesNotRptFinclStmtAmt065057
IRS990ScheduleD/ExpensesSubtotalAmt01030608
IRS990ScheduleD/FootnoteTextInd0X
IRS990ScheduleD/InvestmentExpensesNotIncld2Amt065057
IRS990ScheduleD/InvestmentExpensesNotIncldAmt065057
IRS990ScheduleD/LandGrp/BookValueAmt01781089
IRS990ScheduleD/LandGrp/OtherCostOrOtherBasisAmt01781089
IRS990ScheduleD/NetUnrealizedGainsInvstAmt022719
IRS990ScheduleD/OtherRevenueAmt0-102979
IRS990ScheduleD/PrmnntEndowmentBalanceEOYPct00.14000
IRS990ScheduleD/RevenueNotReportedAmt0787107
IRS990ScheduleD/RevenueNotReportedFinclStmtAmt065057
IRS990ScheduleD/RevenueSubtotalAmt0381804
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/ExplanationTxt1THE FOUNDATION IS NOT AWARE OF ANY TAX POSITIONS IT HAS TAKEN THAT ARE SUBJECT TO A SIGNIFICANT DEGREE OF UNCERTAINTY. TAX YEARS AFTER 2018 REMAIN SUBJECT TO EXAMINATION BY FEDERAL AND STATE TAXING AUTHORITIES.
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt2CHANGE IN VALUE OF BENEFICIAL INTEREST -102,979.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0PART V, LINE 4:
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc1PART X, LINE 2:
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc2PART XI, LINE 2D - OTHER ADJUSTMENTS:
IRS990ScheduleD/TermEndowmentBalanceEOYPct00.02000
IRS990ScheduleD/TotalBookValueLandBuildingsAmt013953391
IRS990ScheduleD/TotalExpensesPerForm990Amt01095665
IRS990ScheduleD/TotalRevenuePerForm990Amt0446861
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt01168911
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt01897975
IRS990ScheduleI/GrantRecordsMaintainedInd00
IRS990ScheduleI/RecipientTable/CashGrantAmt0334504
IRS990ScheduleI/RecipientTable/CashGrantAmt132500
IRS990ScheduleI/RecipientTable/IRCSectionDesc03
IRS990ScheduleI/RecipientTable/IRCSectionDesc13
IRS990ScheduleI/RecipientTable/NonCashAssistanceAmt00

Document Assets

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Filings

Displayed year

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

Open filing
Assets
$38,353,670
Liabilities
$263,473
Net assets
$38,090,197
Revenue
$446,861
Expenses
$1,095,665
Net income
-$648,804
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
2022Detailed filing. Detailed filing data is available for this year.$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
2020XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$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