Civic Intelligence

Belton Preparatory Academy Inc.

990 • Fiscal year 2022 • EIN 82-5507704

Jul 01, 2021 to Jun 30, 2022 • Filed on Oct 09, 2023

Accounts PayableAnderson, SC 29622

(864) 314-0035

Siviq Scores

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

Liabilities / Assets

91st percentile

0.79x

Higher debt load relative to assets than 91% of similar nonprofits.

2022 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2022

Liabilities / Revenue

80th percentile

0.49x

Higher debt load relative to revenue than 80% of similar nonprofits.

2022 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2022

Net Margin

41st percentile

2.5%

Higher net margin than 41% of similar nonprofits.

2022 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2022

Top Officer Pay

39th percentile

$0

Higher top officer pay than 39% of similar nonprofits.

Top officer pay equals 0.0% of source-year revenue.

2022 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2022

Asset Growth

83rd percentile

33%

Faster asset growth than 83% of similar nonprofits.

2022 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2021 to 2022

Revenue Growth

73rd percentile

30%

Faster revenue growth than 73% of similar nonprofits.

2022 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2021 to 2022

Assets

Up

$1,217,735

Up $301,758 (+33%) from 2021

Net Assets

Up

$253,849

Up $49,718 (+24%) from 2021

Liabilities

Up

$963,886

Up $252,040 (+35%) from 2021

Revenue

Up

$1,981,314

Up $456,108 (+30%) from 2021

Expenses

Up

$1,931,596

Up $496,868 (+35%) from 2021

Net Income

Down

$49,718

Down $40,760 (-45%) from 2021

Historical Trend

Balance Sheet Trend

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

$1.5M$1.0M$500K$0-$500KAssets 2019: $310,503Liabilities 2019: $331,204Net Assets 2019: -$20,7012019Assets 2021: $915,977Liabilities 2021: $711,846Net Assets 2021: $204,1312021Assets 2022: $1,217,735Liabilities 2022: $963,886Net Assets 2022: $253,8492022Assets 2024: $888,143Liabilities 2024: $798,390Net Assets 2024: $89,7532024

Highlighted filing

2022

Assets$1,217,735
Liabilities$963,886
Net Assets$253,849

Operations Trend

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

$4.0M$3.0M$2.0M$1.0M$0-$1.0MRevenue 2019: $846,070Expenses 2019: $866,714Net Income 2019: -$20,6442019Revenue 2021: $1,525,206Expenses 2021: $1,434,728Net Income 2021: $90,4782021Revenue 2022: $1,981,314Expenses 2022: $1,931,596Net Income 2022: $49,7182022Revenue 2024: $3,234,117Expenses 2024: $3,487,138Net Income 2024: -$253,0212024

Highlighted filing

2022

Revenue$1,981,314
Expenses$1,931,596
Net Income$49,718
Jump To
Filing Snapshot
Filing Period
Jul 1, 2021 to Jun 30, 2022
Signed
Oct 9, 2023
Return Version
2021v4.0
Gross Receipts
$1,981,314
Mission and Program Overview

Mission

The mission of belton preparatory academy (bpa) is to prepare its students to compete at the highest levels academics, with integrity, using a proven curriculum, core knowledge, and through the core programmatic feature of entrepreneurism used in tandem with an organized wellness program.

Belton preparatory academy is a tuition-free classical education charter school whose mission is to prepare its students to compete with integrity at the highest levels of academics.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$654,056$637,408▼ $16,648
Rtn Earn Endowment Incm Other Fnds$204,131$253,849▲ $49,718
Cash and Non-Interest-Bearing Accounts$169,812$117,445▼ $52,367
Loans From Officers Directors$66,420$66,420→ $0
Prepaid Expenses and Deferred Charges$19,763$17,470▼ $2,293
Total Assets$915,977$1,217,735▲ $301,758
Other Assets Total$72,346$445,412▲ $373,066
Liabilities
Mortgage Notes Payable Secured by Investment Property$541,349$441,349▼ $100,000
Other Liabilities-$231,416-
Accounts Payable and Accrued Expenses$96,180$214,730▲ $118,550
Deferred Revenue$7,897$9,971▲ $2,074
Total Liabilities$711,846$963,886▲ $252,040
Net Assets / Fund Balance
Total Net Assets Fund Balance$204,131$253,849▲ $49,718
Total Liabilities and Net Assets / Fund Balance$915,977$1,217,735▲ $301,758

Asset Categories

AssetBook ValueDepreciationBasis
Leasehold Improvements$600,177$125,497$725,674
Equipment$37,231$62,319$99,550
Other Assets Org$218,854--
Compensation and Service Providers

Board Members and Trustees

NameTitle
Angie KingChair
Candace WhitfieldCo-chair
Gregg SteeleDirector
Hollie ClarkeDirector
Jordan DenmarkDirector
Rachel SibilioDirector
Zack MacinnisDirector
Magon WilsonSecretary
Jeff JenkinsTreasurer

Highest Paid Contractors

ContractorServicesLocationCompensation
Reason And Republic LLCManagement1650 E GREENVILLE STREET STE H, Anderson, SC 29621$125,598
Revenue and Support

Revenue Composition

Contributions and Grants
$1,960,167
Program Service Revenue
$21,147
Investment Income
$0
Other Revenue
$0
All Other Contributions
$1,500
Change in Net Assets
$49,718

Audited Revenue Reconciliation

Revenue per Audited Statements
$1,981,314
Total Revenue per Audited Statements
$1,981,314
Total Revenue per Form 990
$1,981,314
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$1,056,040
Salaries, Compensation, and Employee Benefits$875,556
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$554,526$150,605-$705,131
Depreciation Depletion$169,684--$169,684
All Other Expenses$161,133--$161,133
Fees for Services Other$102,500$54,718-$157,218
Fees for Services Management-$145,990-$145,990
Other Employee Benefits$102,581$10,479-$113,060
Information Technology$81,119--$81,119
Payroll Taxes$46,714$10,651-$57,365
Advertising$54,360--$54,360
Fees for Services Accounting-$48,258-$48,258
Occupancy$42,971--$42,971
Office Expenses-$22,482-$22,482
Fees for Services Legal-$11,000-$11,000
Interest$10,901--$10,901
Travel$5,786$3,786-$9,572
Insurance$504$6,670-$7,174
Other Expenses$6,401$1,662-$1,662
Total Functional Expenses$1,463,163$468,433$0$1,931,596

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$1,931,596
Total Expenses per Audited Statements$1,931,596
Total Expenses per Form 990$1,931,596
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

Interested-Person Transactions

Interested PartyRelationshipDescriptionShared RevenueAmount
Reason and RepublicSee BelowManagement FeeYes$145,990

Loans and Receivables

Line ItemBeginningEndChange
Loans from Officers, Directors, Trustees, and Key Employees$66,420$66,420→ $0
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Building Lease Obligation$230,283
Due to Other Gov. Units$1,133
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
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
Yes
Key decisions subject to board approval
No
Management duties delegated
Yes

Governance Explanations

Form 990, Page 6, Part VI, Line 3

The school's management function is outsourced to reason and republic, a education management organization. Reason and republic provides operations, marketing, human resources, finance and technology support. The principal of belton preparatory academy, deirdre mccullough, is considered an employee of reason and republic and had reportable compensation during the year of 117,900.

Form 990, Page 6, Part VI, Line 8B

The academy had no committees with authority to act on behalf of the governing body.

Form 990, Page 6, Part VI, Line 11B

The form 990 is reviewed by the school's management company prior to filing. A copy of the 990 will be provided to the board after filing.

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

The conflict of interest policy was reviewed by the board during its february board meeting.

Form 990, Page 6, Part VI, Line 19

The organization makes its governing documents, conflict of interest policy, and financial statements available to the public upon request.

Filing and Contact Details

Filer

Filer Name
Belton Preparatory Academy Inc
EIN
82-5507704
Phone
8643140035
Address
ACCOUNTS PAYABLE, ANDERSON, SC 29622

Signing Officer

Name
Craig Wooten
Title
CFO
Phone
8643140035
Signed
2023-10-09
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Craig Wooten
Formed
2017
Legal Domicile
Sc
Voting Board Members
7
Independent Board Members
7
Employees
40

Preparer

Firm
Greene Finney Cauley Llp
Address
211 E BUTLER RD STE C6, MAULDIN, SC 29662-2170
Preparer
Christopher S Cauley
Phone
8644517381
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IRS990/RelatedOrganizationCtrlEntInd0false
IRS990/ReportInvestmentsOtherSecInd0false
IRS990/ReportLandBuildingEquipmentInd0true
IRS990/ReportOtherAssetsInd0true
IRS990/ReportOtherLiabilitiesInd0true
IRS990/ReportProgramRelatedInvstInd0false
IRS990/RevenueAmt021147
IRS990/RtnEarnEndowmentIncmOthFndsGrp/BOYAmt0204131
IRS990/RtnEarnEndowmentIncmOthFndsGrp/EOYAmt0253849
IRS990ScheduleA/SchoolInd0X
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/ScheduleBRequiredInd0true
IRS990ScheduleD/EquipmentGrp/BookValueAmt037231
IRS990ScheduleD/EquipmentGrp/DepreciationAmt062319
IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt099550
IRS990ScheduleD/ExpensesSubtotalAmt01931596
IRS990ScheduleD/LeaseholdImprovementsGrp/BookValueAmt0600177
IRS990ScheduleD/LeaseholdImprovementsGrp/DepreciationAmt0125497
IRS990ScheduleD/LeaseholdImprovementsGrp/OtherCostOrOtherBasisAmt0725674
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt0226558
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt1218854
IRS990ScheduleD/OtherAssetsOrgGrp/Desc0RIGHT OF USE ASSET - BUILDING NET
IRS990ScheduleD/OtherAssetsOrgGrp/Desc1DUE FROM OTHER GOV. UNITS
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt0230283
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt11133
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0BUILDING LEASE OBLIGATION
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc1DUE TO OTHER GOV. UNITS
IRS990ScheduleD/RevenueSubtotalAmt01981314
IRS990ScheduleD/TotalBookValueLandBuildingsAmt0637408
IRS990ScheduleD/TotalBookValueOtherAssetsAmt0445412
IRS990ScheduleD/TotalExpensesPerForm990Amt01931596
IRS990ScheduleD/TotalLiabilityAmt0231416
IRS990ScheduleD/TotalRevenuePerForm990Amt01981314
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt01981314
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt01931596
IRS990ScheduleE/ComplianceWithRevProc7550Ind0true
IRS990ScheduleE/DiscriminateRaceAdmissPlcyInd0false
IRS990ScheduleE/DiscriminateRaceAthltProgInd0false
IRS990ScheduleE/DiscriminateRaceEducPlcyInd0false
IRS990ScheduleE/DiscriminateRaceEmplmFcultyInd0false
IRS990ScheduleE/DiscriminateRaceOtherActyInd0false
IRS990ScheduleE/DiscriminateRaceSchsInd0false
IRS990ScheduleE/DiscriminateRaceStdntsRghtsInd0false
IRS990ScheduleE/DiscriminateRaceUseOfFcltsInd0false
IRS990ScheduleE/GovernmentFinancialAidRcvdInd0true
IRS990ScheduleE/GovernmentFinancialAidRvkdInd0false
IRS990ScheduleE/MaintainCpyOfAllSolInd0true
IRS990ScheduleE/MaintainCpyOfBrochuresEtcInd0true
IRS990ScheduleE/MaintainRacialCompRecsInd0true
IRS990ScheduleE/MaintainScholarshipsRecsInd0true
IRS990ScheduleE/NondiscriminatoryPolicyStmtInd0true
IRS990ScheduleE/PlcyPblczdViaBroadcastMediaInd0true
IRS990ScheduleE/PolicyStmtInBrochuresEtcInd0true
IRS990ScheduleE/SupplementalInformationDetail/ExplanationTxt0THE SCHOOL'S RACIALLY NONDISCRIMINATORY POLICY IS LISTED ON ALL PRINTED REGISTRATION FORMS.
IRS990ScheduleE/SupplementalInformationDetail/ExplanationTxt1THE SCHOOL RECEIVES A SIGNIFICANT PORTION OF ITS SUPPORT FROM GOVERNMENTAL UNITS PRIMARILY FROM THE STATE OF SC THROUGH PASSTHROUGH FUNDING FROM THE CHARTER INSTITUTE AT ERSKINE.
IRS990ScheduleE/SupplementalInformationDetail/FormAndLineReferenceDesc0SCHEDULE E, LINE 3
IRS990ScheduleE/SupplementalInformationDetail/FormAndLineReferenceDesc1SCHEDULE E, LINE 6
IRS990/ScheduleJRequiredInd0false
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/NameOfInterested/PersonNm0REASON AND REPUBLIC
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/RelationshipDescriptionTxt0SEE BELOW
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/SharingOfRevenuesInd0true
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/TransactionAmt0145990
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/TransactionDesc0MANAGEMENT FEE
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/BalanceDueAmt066420
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/BoardOrCommitteeApprovalInd0true
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/DefaultInd0false
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/LoanPurposeTxt0INTEREST FREE START-UP LOAN
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/LoanToOrganizationInd0X
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/OriginalPrincipalAmt0121420
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/PersonNm0DUE TO JAMES GALYEAN
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/RelationshipWithOrgTxt0FORMER DIRECTOR
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/WrittenAgreementInd0false
IRS990ScheduleL/SupplementalInformationDetail/ExplanationTxt0A FORMER DIRECTOR OF BELTON PREPARATORY ACADEMY, JAMES GALYEAN, HAS MORE THAN 35% OWNERSHIP INDIRECTLY OF REASON AND REPUBLIC. THE MANAGEMENT FEE PAID TO REASON AND REPUBLIC IS AT OR BELOW FMV AND INDEPENDENTLY APPROVED BY THE BOARD OF DIRECTORS OF THE ACADEMY.
IRS990ScheduleL/SupplementalInformationDetail/FormAndLineReferenceDesc0SCHEDULE L, PART V
IRS990ScheduleL/TotalBalanceDueAmt066420
IRS990/ScheduleORequiredInd0true
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0THE SCHOOL'S MANAGEMENT FUNCTION IS OUTSOURCED TO REASON AND REPUBLIC, A EDUCATION MANAGEMENT ORGANIZATION. REASON AND REPUBLIC PROVIDES OPERATIONS, MARKETING, HUMAN RESOURCES, FINANCE AND TECHNOLOGY SUPPORT. THE PRINCIPAL OF BELTON PREPARATORY ACADEMY, DEIRDRE MCCULLOUGH, IS CONSIDERED AN EMPLOYEE OF REASON AND REPUBLIC AND HAD REPORTABLE COMPENSATION DURING THE YEAR OF 117,900.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1THE ACADEMY HAD NO COMMITTEES WITH AUTHORITY TO ACT ON BEHALF OF THE GOVERNING BODY.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2THE FORM 990 IS REVIEWED BY THE SCHOOL'S MANAGEMENT COMPANY PRIOR TO FILING. A COPY OF THE 990 WILL BE PROVIDED TO THE BOARD AFTER FILING.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3THE CONFLICT OF INTEREST POLICY WAS REVIEWED BY THE BOARD DURING ITS FEBRUARY BOARD MEETING.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4THE ORGANIZATION MAKES ITS GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PAGE 6, PART VI, LINE 3
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PAGE 6, PART VI, LINE 8B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PAGE 6, PART VI, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PAGE 6, PART VI, LINE 12C
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PAGE 6, PART VI, LINE 19
IRS990/SchoolOperatingInd0true
IRS990/SignificantChangeInd0false
IRS990/SignificantNewProgramSrvcInd0false
IRS990/StatesWhereCopyOfReturnIsFldCd0SC
IRS990/SubjectToExcsTaxNetInvstIncInd0false
IRS990/SubjectToProxyTaxInd0false
IRS990/SubjToTaxRmnrtnExPrchtPymtInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TerminateOperationsInd0false
IRS990/TotalAssetsBOYAmt0915977
IRS990/TotalAssetsEOYAmt01217735
IRS990/TotalAssetsGrp/BOYAmt0915977
IRS990/TotalAssetsGrp/EOYAmt01217735
IRS990/TotalCompGreaterThan150KInd0false
IRS990/TotalContributionsAmt01960167
IRS990/TotalEmployeeCnt040
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt0468433
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt01463163
IRS990/TotalFunctionalExpensesGrp/TotalAmt01931596
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt0711846
IRS990/TotalLiabilitiesEOYAmt0963886
IRS990/TotalLiabilitiesGrp/BOYAmt0711846
IRS990/TotalLiabilitiesGrp/EOYAmt0963886
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt0204131
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt0253849
IRS990/TotalProgramServiceExpensesAmt01463163
IRS990/TotalProgramServiceRevenueAmt021147
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt021147
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt01981314
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt0915977
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt01217735
IRS990/TravelGrp/ManagementAndGeneralAmt03786
IRS990/TravelGrp/ProgramServicesAmt05786
IRS990/TravelGrp/TotalAmt09572
IRS990/TrnsfrExmptNonChrtblRltdOrgInd0false
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt01650 E GREENVILLE STREET STE H
IRS990/USAddress/CityNm0ANDERSON
IRS990/USAddress/StateAbbreviationCd0SC

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