Civic Intelligence

Ambition Preparatory Charter School

990 • Fiscal year 2021 • EIN 82-3875659

Jul 01, 2020 to Jun 30, 2021 • Filed on Dec 01, 2021

Organization Profileambitionprep.org
5331 Clinton BlvdJackson, MS 39209

(601) 487-1658

Siviq Scores

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

Liabilities / Assets

90th percentile

0.77x

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

2021 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2021

Liabilities / Revenue

88th percentile

1.14x

Higher debt load relative to revenue than 88% of similar nonprofits.

2021 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2021

Net Margin

44th percentile

9.4%

Higher net margin than 44% of similar nonprofits.

2021 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2021

Top Officer Pay

71st percentile

$102,734

Higher top officer pay than 71% of similar nonprofits.

Top officer pay equals 3.7% of source-year revenue.

2021 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2021

Asset Growth

97th percentile

187%

Faster asset growth than 97% of similar nonprofits.

2021 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2020 to 2021

Revenue Growth

49th percentile

11%

Faster revenue growth than 49% of similar nonprofits.

2021 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2020 to 2021

Balance Sheet
Liabilities / Assets90th percentile

Assets

Up

$4,079,149

Up $2,659,919 (+187%) from 2020

Net Assets

Up

$935,565

Up $261,274 (+39%) from 2020

Liabilities

Up

$3,143,584

Up $2,398,645 (+322%) from 2020

Revenue And Expenses
Liabilities / Revenue88th percentileNet Margin44th percentile

Revenue

Up

$2,765,327

Up $279,159 (+11%) from 2020

Expenses

Up

$2,504,053

Up $655,353 (+35%) from 2020

Net Income

Down

$261,274

Down $376,194 (-59%) from 2020

Historical Trend

Balance Sheet Trend

Asset Growth97th percentile

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

$10M$5.0M$0Assets 2019: $290,237Liabilities 2019: $268,167Net Assets 2019: $22,0702019Assets 2020: $1,419,230Liabilities 2020: $744,939Net Assets 2020: $674,2912020Assets 2021: $4,079,149Liabilities 2021: $3,143,584Net Assets 2021: $935,5652021Assets 2022: $8,659,171Liabilities 2022: $7,093,825Net Assets 2022: $1,565,3462022Assets 2023: $9,186,987Liabilities 2023: $7,325,791Net Assets 2023: $1,861,1962023

Highlighted filing

2021

Assets$4,079,149
Liabilities$3,143,584
Net Assets$935,565
Open 2021 Filing

Operations Trend

Revenue Growth49th percentile

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

$6.0M$4.0M$2.0M$0Revenue 2019: $246,081Expenses 2019: $224,011Net Income 2019: $22,0702019Revenue 2020: $2,486,168Expenses 2020: $1,848,700Net Income 2020: $637,4682020Revenue 2021: $2,765,327Expenses 2021: $2,504,053Net Income 2021: $261,2742021Revenue 2022: $4,600,141Expenses 2022: $3,970,360Net Income 2022: $629,7812022Revenue 2023: $5,565,557Expenses 2023: $5,269,707Net Income 2023: $295,8502023

Highlighted filing

2021

Revenue$2,765,327
Expenses$2,504,053
Net Income$261,274
Open 2021 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2020 to Jun 30, 2021
Signed
Dec 1, 2021
Return Version
2020v4.0
Gross Receipts
$2,765,327
Mission and Program Overview

Mission

Through high-quality instruction, intensive academic supports, and hard work, Ambition Preparatory Charter School ensures that all students in kindergarten through grade eight have academic skills and self-discipline for college and life success.

Balance Sheet Detail
LineBeginningEndChange
Assets
Cash and Non-Interest-Bearing Accounts$529,256$781,392▲ $252,136
Land, Buildings, and Equipment, Net$602,239$531,171▼ $71,068
Accounts Receivable$259,301$357,679▲ $98,378
Prepaid Expenses and Deferred Charges$28,434$34,137▲ $5,703
Savings and Temporary Cash Investments-$0-
Other Notes and Loans Receivable, Net-$0-
Pledges and Grants Receivable-$0-
Receivable From Disqualified Prsn-$0-
Receivables From Officers Etc-$0-
Investments Other Securities-$0-
Investments Program Related-$0-
Investments in Publicly Traded Securities-$0-
Intangible Assets-$0-
Inventories for Sale or Use-$0-
Total Assets$1,419,230$4,079,149▲ $2,659,919
Other Assets Total-$2,374,770-
Liabilities
Other Liabilities$526,746$2,875,338▲ $2,348,592
Accounts Payable and Accrued Expenses$218,193$268,246▲ $50,053
Total Liabilities$744,939$3,143,584▲ $2,398,645
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$674,291$935,565▲ $261,274
Total Net Assets Fund Balance$674,291$935,565▲ $261,274
Total Liabilities and Net Assets / Fund Balance$1,419,230$4,079,149▲ $2,659,919

Asset Categories

AssetBook ValueDepreciationBasis
Leasehold Improvements$366,203$197,341$563,544
Equipment$98,957$28,310$109,239
Other Land Buildings$66,011$19,026$85,037
Other Assets Org$2,374,770--
Compensation and Service Providers
Top Officer Pay71st percentile

Board Members and Trustees

NameTitle
Marcus BurgerChair
Megan StitzingerVice Chair
Dr Antwon WoodsBoard Member
DeArchie ScottHead of School
Andreana JonesSecretary
Thomas WetzelTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$917,881
Program Service Revenue
$1,847,446
Investment Income
$0
Other Revenue
$0
All Other Contributions
$107,944
Change in Net Assets
$261,274

Audited Revenue Reconciliation

Revenue per Audited Statements
$2,765,327
Total Revenue per Audited Statements
$2,765,327
Total Revenue per Form 990
$2,765,327
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$1,379,610
Other Expenses$1,124,443
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$974,411$87,930-$1,062,341
Fees for Services Other$178,329$44,906-$223,235
Depreciation Depletion$110,241$27,560-$137,801
Other Employee Benefits$110,992$8,971-$119,963
Current Officers, Directors, Trustees, and Key Employees$102,734--$102,734
Payroll Taxes$87,894$6,678-$94,572
All Other Expenses$71,412$16,558-$87,970
Occupancy$61,267$15,317-$76,584
Other Expenses$38,569$12,970-$38,569
Insurance$25,770$6,442-$32,212
Interest$25,601$6,400-$32,001
Office Expenses$22,085$5,521-$27,606
Total Functional Expenses$2,264,800$239,253$0$2,504,053

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$2,504,053
Total Expenses per Audited Statements$2,504,053
Total Expenses per Form 990$2,504,053
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
Insider Transactions and Loans

Loans and Receivables

Line ItemBeginningEndChange
Receivables from Disqualified Persons-$0-
Receivables from Officers, Directors, Trustees, and Key Employees-$0-
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Long term debt$2,875,338
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
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, Line 11B: Form 990 Review Process

“The president and secretary/treasurer are presented with a copy of the filing for review. The 990 is made available to the other board members upon request.”

Form 990, Part VI, Line 12C: Explanation of Monitoring and Enforcement of Conflicts

“The organization has procedures in place to determine and address conflicts of interest within the organization.”

Form 990, Part VI, Line 15A: Compensation Review & Approval Process - CEO, Top Management

“Compensation competitively set as comparable to salaries paid to positions at other local public schools, which takes into account year of experience, certifications, education, etc.”

Form 990, Part VI, Line 19: Other Organization Documents Publicly Available

“Contained in employee handbook and upon request.”

Filing and Contact Details

Filer

Filer Name
Ambition Preparatory Charter School
EIN
82-3875659
Phone
6014871658
Address
5331 Clinton Blvd, Jackson, MS 39209

Signing Officer

Name
Thomas Wetzel
Title
Treasurer
Signed
2021-12-01
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Thomas Wetzel
Formed
2017
Legal Domicile
Ms
Voting Board Members
6
Independent Board Members
0
Employees
43

Preparer

Firm
Daigrepont & Brian APAC
Address
910 S Acadian Thruway, Baton Rouge, LA 70806
Preparer
John M Goodwin CPA
Phone
2259273760
Supplemental Narrative

Financial Statement Notes

Part X : FIN48 Footnote

“The School accounts for income taxes in accordance with FASB ASC 740-10, Accounting for Uncertainty in Income Taxes. Management believes it has no material uncertain tax positions and, accordingly has not recognized a liability for any unrecognized tax benefits.”

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IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0Part X : FIN48 Footnote
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IRS990ScheduleE/SupplementalInformationDetail/FormAndLineReferenceDesc0Schedule E, Line 3 - Racially Nondiscriminatory Policy Publicized
IRS990ScheduleE/SupplementalInformationDetail/FormAndLineReferenceDesc1Schedule E, Line 4 - Explanation of Records and Materials Not Maintained
IRS990ScheduleE/SupplementalInformationDetail/FormAndLineReferenceDesc2Schedule E, Line 5 - Explanation of Organization Discrimination by Race
IRS990ScheduleE/SupplementalInformationDetail/FormAndLineReferenceDesc3Schedule E, Line 6 - Explanation of Aid or Assistance from Governmental Agency
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IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0Form 990, Part VI, Line 11b: Form 990 Review Process
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IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2Form 990, Part VI, Line 15a: Compensation Review & Approval Process - CEO, Top Management
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Document Assets

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Filings

Displayed year

2021 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$4,079,149
Liabilities
$3,143,584
Net assets
$935,565
Revenue
$2,765,327
Expenses
$2,504,053
Net income
$261,274
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2023Summary only. Only limited summary data is available for this year.$9.19$7.33$1.86$5.57$5.27$0.30
2022XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$8.66$7.09$1.57$4.60$3.97$0.63
2021Detailed filing. Detailed filing data is available for this year.$4.08$3.14$0.94$2.77$2.50$0.26
2020XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$1.42$0.74$0.67$2.49$1.85$0.64
2019XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.29$0.27$0.02$0.25$0.22$0.02