Civic Intelligence

Mercy Preparatory Academy

990 • Fiscal year 2023 • EIN 84-3183734

Jan 01, 2023 to Dec 31, 2023 • Filed on Jun 25, 2024

Organization Profilemercyprep.org
1281 BoyceWaxahachie, TX 75165

(817) 917-6090

Siviq Scores

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

Liabilities / Assets

93rd percentile

0.82x

Higher debt load relative to assets than 93% of similar nonprofits.

2023 filings • 501(c)3 • <$500k nonprofits • Source year 2023

Liabilities / Revenue

92nd percentile

0.46x

Higher debt load relative to revenue than 92% of similar nonprofits.

2023 filings • 501(c)3 • <$500k nonprofits • Source year 2023

Net Margin

62nd percentile

10%

Higher net margin than 62% of similar nonprofits.

2023 filings • 501(c)3 • <$500k nonprofits • Source year 2023

Top Officer Pay

85th percentile

$20,833

Higher top officer pay than 85% of similar nonprofits.

Top officer pay equals 6.5% of source-year revenue.

2023 filings • 501(c)3 • <$500k nonprofits • Source year 2023

Asset Growth

100th percentile

58936%

Faster asset growth than 100% of similar nonprofits.

2023 filings • 501(c)3 • <$500k nonprofits • Annualized from 2022 to 2023

Revenue Growth

100th percentile

110998%

Faster revenue growth than 100% of similar nonprofits.

2023 filings • 501(c)3 • <$500k nonprofits • Annualized from 2022 to 2023

Balance Sheet
Liabilities / Assets93rd percentile

Assets

Up

$180,061

Up $179,756 (+58936%) from 2022

Net Assets

Up

$33,255

Up $32,950 (+10803%) from 2022

Liabilities

$146,806

No earlier filing loaded for comparison.

Revenue And Expenses
Liabilities / Revenue92nd percentileNet Margin62nd percentile

Revenue

Up

$319,962

Up $319,674 (+110998%) from 2022

Expenses

Up

$287,013

Up $286,370 (+44537%) from 2022

Net Income

Up

$32,949

Up $33,304 (+9381%) from 2022

Historical Trend

Balance Sheet Trend

Asset Growth100th percentile

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

$400K$200K$0-$200KAssets 2019: $2,980Net Assets 2019: $2,9802019Assets 2020: $1,055Net Assets 2020: $1,0552020Assets 2021: $0Net Assets 2021: $02021Assets 2022: $305Net Assets 2022: $3052022Assets 2023: $180,061Liabilities 2023: $146,806Net Assets 2023: $33,2552023Assets 2024: $212,884Liabilities 2024: $250,037Net Assets 2024: -$37,1532024Assets 2025: $301,493Liabilities 2025: $365,032Net Assets 2025: -$63,5392025

Highlighted filing

2023

Assets$180,061
Liabilities$146,806
Net Assets$33,255
Open 2023 Filing

Operations Trend

Revenue Growth100th percentile

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

$1.0M$500K$0-$500KRevenue 2019: $3,000Expenses 2019: $20Net Income 2019: $2,9802019Revenue 2020: $0Expenses 2020: $1,925Net Income 2020: -$1,9252020Revenue 2021: $02021Revenue 2022: $288Expenses 2022: $643Net Income 2022: -$3552022Revenue 2023: $319,962Expenses 2023: $287,013Net Income 2023: $32,9492023Revenue 2024: $199,906Expenses 2024: $270,314Net Income 2024: -$70,4082024Revenue 2025: $745,112Expenses 2025: $745,125Net Income 2025: -$132025

Highlighted filing

2023

Revenue$319,962
Expenses$287,013
Net Income$32,949
Open 2023 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2023 to Dec 31, 2023
Signed
Jun 25, 2024
Return Version
2023v5.1
Gross Receipts
$319,962
Mission and Program Overview

Mission

Mercy Preparatory Academy partners with parents to cultivate future leaders by giving students a well-rounded experience of faith, family, education, and service in a non-denominational setting.We are committed to supporting families in their quest to impart a multicultural biblical worldview to their students to create strong Christian leaders who are able to love God, love others and serve joyfully. Our main focus is to not only prepare students for their academic future, but to focus on preparing them for their calling from God.

Subject: Accomplishments of Mercy Preparatory AcademyWe are writing to provide a detailed account of the accomplishments of Mercy Preparatory Academy over the past year. As a new institution dedicated to providing quality education in a Christian environment, we are proud to share our milestones and community impact since opening our doors.School Growth and DevelopmentMercy Preparatory Academy officially opened in August of 2023 with an initial enrollment that included grades K-10. By the end of the school year, our student body had grown to 57 students. This growth underscores the demand for our unique educational approach, which combines academic excellence with a Biblical worldview.Looking ahead, we are planning significant expansion. In the upcoming school year, we anticipate doubling our enrollment and expanding our grade offerings to include Pre-K4 through 12th grade. This growth trajectory reflects our commitment to meeting the educational needs of our community and providing a

Balance Sheet Detail
LineBeginningEndChange
Assets
Cash and Non-Interest-Bearing Accounts$306$105,314▲ $105,008
Accounts Receivable-$64,714-
Prepaid Expenses and Deferred Charges-$7,902-
Land, Buildings, and Equipment, Net-$2,131-
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$306$180,061▲ $179,755
Other Assets Total-$0-
Liabilities
Deferred Revenue-$141,671-
Other Liabilities-$5,135-
Total Liabilities$0$146,806▲ $146,806
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$306$33,255▲ $32,949
Total Net Assets Fund Balance$306$33,255▲ $32,949
Total Liabilities and Net Assets / Fund Balance$306$180,061▲ $179,755

Asset Categories

AssetBook ValueDepreciationBasis
Other Land Buildings$2,131$355$2,486
Compensation and Service Providers
Top Officer Pay85th percentile

Employees

NameTitleFull / Part TimeBaseTotal
Erica PhillipsFounderPT$20,833$20,833

Board Members and Trustees

NameTitle
Sean LeeBoard Member
Cary PhillipsAdministrator
Revenue and Support

Revenue Composition

Contributions and Grants
$104,064
Program Service Revenue
$215,898
Investment Income
$0
Other Revenue
$0
All Other Contributions
$104,064
Change in Net Assets
$32,949
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$177,626
Other Expenses$108,762
Total Fundraising Expense$2,526
Professional Fundraising Fees$625
Grants and Similar Amounts Paid$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$132,834$10,498-$143,332
Occupancy$16,130$5,377-$21,507
Current Officers, Directors, Trustees, and Key Employees$15,625$4,583$625$20,833
Payroll Taxes-$13,461-$13,461
Advertising-$5,621-$5,621
Fees for Services Accounting$3,568$1,189-$4,757
Fees for Services Other$2,915$791-$3,706
Other Expenses$6,258$30,329$1,265$1,265
Fees for Services Professional Fundraising--$625$625
Depreciation Depletion$266$78$11$355
Fees for Services Legal-$253-$253
Total Functional Expenses$212,307$72,180$2,526$287,013
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$625
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
Payroll Liabilities$5,135
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Backup withholding compliance
No
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
No
Other officer compensation reviewed
No
Conflict-of-interest policy
No
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

“No review was or will be conducted.”

Form 990, Part VI, Section C, Line 19

“No documents available to the public.”

Filing and Contact Details

Filer

Filer Name
Mercy Prepratory Academy
EIN
84-3183734
Phone
8179176090
Address
1281 BOYCE, WAXAHACHIE, TX 75165

Signing Officer

Name
Erica Phillips
Title
Founder & Administra
Signed
2024-06-25
Discuss with paid preparer
Yes

Organization Details

Legal Domicile
TX
Voting Board Members
3
Independent Board Members
0
Employees
27
Volunteers
25

Preparer

Firm
Reiff Martin CPA & Bus Adv Srvc Pllc
Address
8340 MEADOW RD STE 228, DALLAS, TX 75231
Preparer
Alison Reiff-Martin
Phone
2147071776
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IRS990/ActivityOrMissionDesc0Subject: Accomplishments of Mercy Preparatory AcademyWe are writing to provide a detailed account of the accomplishments of Mercy Preparatory Academy over the past year. As a new institution dedicated to providing quality education in a Christian environment, we are proud to share our milestones and community impact since opening our doors.School Growth and DevelopmentMercy Preparatory Academy officially opened in August of 2023 with an initial enrollment that included grades K-10. By the end of the school year, our student body had grown to 57 students. This growth underscores the demand for our unique educational approach, which combines academic excellence with a Biblical worldview.Looking ahead, we are planning significant expansion. In the upcoming school year, we anticipate doubling our enrollment and expanding our grade offerings to include Pre-K4 through 12th grade. This growth trajectory reflects our commitment to meeting the educational needs of our community and providing a
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IRS990/Desc0Subject: Accomplishments of Mercy Preparatory AcademyWe are writing to provide a detailed account of the accomplishments of Mercy Preparatory Academy over the past year. As a new institution dedicated to providing quality education in a Christian environment, we are proud to share our milestones and community impact since opening our doors.School Growth and DevelopmentMercy Preparatory Academy officially opened in August of 2023 with an initial enrollment that included grades K-10. By the end of the school year, our student body had grown to 57 students. This growth underscores the demand for our unique educational approach, which combines academic excellence with a Biblical worldview.Looking ahead, we are planning significant expansion. In the upcoming school year, we anticipate doubling our enrollment and expanding our grade offerings to include Pre-K4 through 12th grade. This growth trajectory reflects our commitment to meeting the educational needs of our community and providing a comprehensive educational experience.Community Service InitiativesA cornerstone of Mercy Preparatory Academy's mission is to instill a spirit of service in our students. Throughout the year, we have actively participated in various community service projects in partnership with notable organizations:Brave Like Ellie: We have supported this organization in its mission to assist families experiencing childhood cancer. Our students and staff have engaged in fundraising efforts, awareness campaigns, and providing direct support to affected families.Sleep In Heavenly Peace: Understanding the importance of a safe and comfortable sleeping environment for children, our academy has collaborated with this organization to build beds for children who would otherwise sleep on the floor. Our students and faculty have dedicated numerous hours to constructing and delivering these beds to families in need.Waxahachie CARE: As part of our commitment to combating food insecurity, we have partnered with our local food pantry to assist in food collection, distribution, and awareness efforts. Our involvement has included organizing food drives, volunteering at the pantry, and supporting its operations to ensure that local families have access to necessary food supplies.Academic and Moral FoundationMercy Preparatory Academy prides itself on providing an education that not only meets high academic standards but also fosters moral and spiritual growth. Our curriculum is designed to integrate a Biblical worldview in all subjects, ensuring that students develop a strong moral compass alongside their academic achievements. This approach has been fundamental in building a nurturing and supportive environment where students can thrive both intellectually and spiritually.ConclusionThe accomplishments of Mercy Preparatory Academy in its inaugural year underscore our dedication to educational excellence and community service. Our efforts to grow and serve our community have been met with enthusiastic support, and we are poised for continued success and expansion in the coming years.We believe that our non-profit status will further enhance our ability to serve our students and the broader community. Thank you for considering our application. We look forward to continuing our mission of providing a high-quality, faith-based education while serving those in need.
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IRS990/MissionDesc0Mercy Preparatory Academy partners with parents to cultivate future leaders by giving students a well-rounded experience of faith, family, education, and service in a non-denominational setting.We are committed to supporting families in their quest to impart a multicultural biblical worldview to their students to create strong Christian leaders who are able to love God, love others and serve joyfully. Our main focus is to not only prepare students for their academic future, but to focus on preparing them for their calling from God.
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IRS990ScheduleE/DiscriminateRaceEducPlcyInd0false
IRS990ScheduleE/DiscriminateRaceEmplmFcultyInd0false
IRS990ScheduleE/DiscriminateRaceOtherActyInd0false
IRS990ScheduleE/DiscriminateRaceSchsInd0false
IRS990ScheduleE/DiscriminateRaceStdntsRghtsInd0false
IRS990ScheduleE/DiscriminateRaceUseOfFcltsInd0false
IRS990ScheduleE/GovernmentFinancialAidRcvdInd0false
IRS990ScheduleE/GovernmentFinancialAidRvkdInd0false
IRS990ScheduleE/MaintainCpyOfAllSolInd0true
IRS990ScheduleE/MaintainCpyOfBrochuresEtcInd0true
IRS990ScheduleE/MaintainRacialCompRecsInd0true
IRS990ScheduleE/MaintainScholarshipsRecsInd0true
IRS990ScheduleE/NondiscriminatoryPolicyStmtInd0true
IRS990ScheduleE/PlcyPblczdViaBroadcastMediaInd0true
IRS990ScheduleE/PolicyStmtInBrochuresEtcInd0true
IRS990ScheduleE/SupplementalInformationDetail/ExplanationTxt0Yes, on October 2, 2020 we purchased space for an article in the Midlothian Mirror, the local newspaper. This article outlined our racial nondiscriminatory policy.
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
IRS990/ScheduleJRequiredInd0false
IRS990/ScheduleORequiredInd0true
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0No review was or will be conducted.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1No documents available to the public.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0Form 990, Part VI, Section B, Line 11b
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1Form 990, Part VI, Section C, Line 19
IRS990/SchoolOperatingInd0true
IRS990/SignificantChangeInd0false
IRS990/SignificantNewProgramSrvcInd0false
IRS990/SubjectToExcsTaxNetInvstIncInd0false
IRS990/SubjectToProxyTaxInd0false
IRS990/SubjToTaxRmnrtnExPrchtPymtInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TerminateOperationsInd0false
IRS990/TotalAssetsBOYAmt0306
IRS990/TotalAssetsEOYAmt0180061
IRS990/TotalAssetsGrp/BOYAmt0306
IRS990/TotalAssetsGrp/EOYAmt0180061
IRS990/TotalCompGreaterThan150KInd0false
IRS990/TotalContributionsAmt0104064
IRS990/TotalEmployeeCnt027
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt02526
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt072180
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0212307
IRS990/TotalFunctionalExpensesGrp/TotalAmt0287013
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesEOYAmt0146806
IRS990/TotalLiabilitiesGrp/BOYAmt00
IRS990/TotalLiabilitiesGrp/EOYAmt0146806
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt0306
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt033255
IRS990/TotalProgramServiceExpensesAmt0212307
IRS990/TotalProgramServiceRevenueAmt0215898
IRS990/TotalReportableCompFromOrgAmt020833
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt0215898
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0319962
IRS990/TotalVolunteersCnt025
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt0306
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt0180061
IRS990/TravelGrp/TotalAmt00
IRS990/TrnsfrExmptNonChrtblRltdOrgInd0false
IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/USAddress/AddressLine1Txt01281 BOYCE
IRS990/USAddress/CityNm0WAXAHACHIE
IRS990/USAddress/StateAbbreviationCd0TX
IRS990/USAddress/ZIPCd0751659160
IRS990/VotingMembersGoverningBodyCnt03
IRS990/VotingMembersIndependentCnt00
IRS990/WebsiteAddressTxt0https://mercyprep.org/
IRS990/WhistleblowerPolicyInd0false
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/AuthenticationAssuranceLevelCd0AAL1
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/FederatedAssuranceLevelCd0FAL1
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/IdentityAssuranceLevelCd0IAL1
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/TrustedCustomerCd02
ReturnHeader/BuildTS02023-04-26 12:10:37Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0ERICA PHILLIPS
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0FOUNDER & ADMINISTRA
ReturnHeader/BusinessOfficerGrp/SignatureDt02024-06-25
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0MERCY PREPRATORY ACADEMY
ReturnHeader/Filer/BusinessNameControlTxt0MERC
ReturnHeader/Filer/EIN0843183734
ReturnHeader/Filer/PhoneNum08179176090
ReturnHeader/Filer/USAddress/AddressLine1Txt01281 BOYCE
ReturnHeader/Filer/USAddress/CityNm0WAXAHACHIE
ReturnHeader/Filer/USAddress/StateAbbreviationCd0TX
ReturnHeader/Filer/USAddress/ZIPCd075165
ReturnHeader/IRSResponsiblePrtyInfoCurrInd0true
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0814385107
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0REIFF MARTIN CPA & BUS ADV SRVC PLLC
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt08340 MEADOW RD STE 228
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0DALLAS
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0TX
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd075231
ReturnHeader/PreparerPersonGrp/PhoneNum02147071776
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0Alison Reiff-Martin
ReturnHeader/ReturnTs02024-06-25T17:13:50-07:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonFirstNm0ERICA
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonLastNm0PHILLIPS
ReturnHeader/TaxPeriodBeginDt02023-01-01
ReturnHeader/TaxPeriodEndDt02023-12-31
ReturnHeader/TaxYr02023

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Displayed year

2023 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$180,061
Liabilities
$146,806
Net assets
$33,255
Revenue
$319,962
Expenses
$287,013
Net income
$32,949
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2025XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$3.01$3.65$0.64$7.45$7.45$0.00
2024Detailed filing. Detailed filing data is available for this year.$2.13$2.50$0.37$2.00$2.70$0.70
2023Detailed filing. Detailed filing data is available for this year.$1.80$1.47$0.33$3.20$2.87$0.33
2022Detailed filing. Detailed filing data is available for this year.$0.00$0.00$0.00$0.01$0.00
2021XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.00$0.00$0.00
2020XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.01$0.01$0.00$0.02$0.02
2019XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.03$0.03$0.03$0.00$0.03
Peer Organizations

Similar nonprofits based on the same Siviq industry and scale cohort. 2023 filings • 501(c)3 • <$500k nonprofits