Civic Intelligence

Springfield Prep Realty Inc

990 • Fiscal year 2022 • EIN 85-3252010

Jul 01, 2021 to Jun 30, 2022 • Filed on Mar 03, 2023

Organization ProfileWWW.SPRINGFIELDPREP.ORG
2071 Roosevelt AveSpringfield, MA 01104

(413) 231-2722

Siviq Scores

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

Liabilities / Assets

94th percentile

0.99x

Higher debt load relative to assets than 94% of similar nonprofits.

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

Liabilities / Revenue

99th percentile

29.72x

Higher debt load relative to revenue than 99% of similar nonprofits.

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

Net Margin

71st percentile

18%

Higher net margin than 71% of similar nonprofits.

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

Top Officer Pay

15th percentile

$114,543

Higher top officer pay than 15% of similar nonprofits.

Top officer pay equals 8.7% of source-year revenue.

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

Asset Growth

96th percentile

94%

Faster asset growth than 96% of similar nonprofits.

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

Revenue Growth

87th percentile

50%

Faster revenue growth than 87% of similar nonprofits.

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

Balance Sheet
Liabilities / Assets94th percentile

Assets

Up

$39,225,856

Up $18,996,265 (+94%) from 2021

Net Assets

Up

$238,829

Up $238,264 (+42171%) from 2021

Liabilities

Up

$38,987,027

Up $18,758,001 (+93%) from 2021

Revenue And Expenses
Liabilities / Revenue99th percentileNet Margin71st percentile

Revenue

Up

$1,311,651

Up $435,569 (+50%) from 2021

Expenses

Up

$1,073,387

Up $197,870 (+23%) from 2021

Net Income

Up

$238,264

Up $237,699 (+42071%) from 2021

Historical Trend

Balance Sheet Trend

Asset Growth96th percentile

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

$40M$30M$20M$10M$0Assets 2021: $20,229,591Liabilities 2021: $20,229,026Net Assets 2021: $5652021Assets 2022: $39,225,856Liabilities 2022: $38,987,027Net Assets 2022: $238,8292022Assets 2023: $38,413,394Liabilities 2023: $37,920,116Net Assets 2023: $493,2782023Assets 2024: $37,482,476Liabilities 2024: $36,723,078Net Assets 2024: $759,3982024Assets 2025: $36,625,574Liabilities 2025: $35,594,001Net Assets 2025: $1,031,5732025

Highlighted filing

2022

Assets$39,225,856
Liabilities$38,987,027
Net Assets$238,829
Open 2022 Filing

Operations Trend

Revenue Growth87th percentile

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

$1.5M$1.0M$500K$0Revenue 2021: $876,082Expenses 2021: $875,517Net Income 2021: $5652021Revenue 2022: $1,311,651Expenses 2022: $1,073,387Net Income 2022: $238,2642022Revenue 2023: $1,432,793Expenses 2023: $1,178,344Net Income 2023: $254,4492023Revenue 2024: $1,427,420Expenses 2024: $1,161,300Net Income 2024: $266,1202024Revenue 2025: $1,418,162Expenses 2025: $1,145,987Net Income 2025: $272,1752025

Highlighted filing

2022

Revenue$1,311,651
Expenses$1,073,387
Net Income$238,264
Open 2022 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2021 to Jun 30, 2022
Signed
Mar 3, 2023
Return Version
2021v4.2
Gross Receipts
$1,311,651
Mission and Program Overview

Mission

The purpose of the realty corp is to own, build, buy, sell, manage, develop, and lease real estate for springfield preparatory charter school so it can provide educational services in springfield, massachusetts.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$16,180,847$17,893,060▲ $1,712,213
Savings and Temporary Cash Investments$1,692,426$0▼ $1,692,426
Cash and Non-Interest-Bearing Accounts$2,356,318$1,066,047▼ $1,290,271
Total Assets$20,229,591$39,225,856▲ $18,996,265
Other Assets Total$0$20,266,749▲ $20,266,749
Liabilities
Other Liabilities$145,810$19,732,155▲ $19,586,345
Mortgage Notes Payable Secured by Investment Property$16,170,000$19,224,625▲ $3,054,625
Accounts Payable and Accrued Expenses$3,913,216$30,247▼ $3,882,969
Total Liabilities$20,229,026$38,987,027▲ $18,758,001
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$565$238,829▲ $238,264
Total Net Assets Fund Balance$565$238,829▲ $238,264
Total Liabilities and Net Assets / Fund Balance$20,229,591$39,225,856▲ $18,996,265

Asset Categories

AssetBook ValueDepreciationBasis
Leasehold Improvements$12,553,868$333,709$12,887,577
Buildings$4,337,987$115,313$4,453,300
Equipment$382,337$10,164$392,501
Land$371,700-$371,700
Other Land Buildings$247,168$6,570$253,738
Other Assets Org$20,266,749--
Compensation and Service Providers
Top Officer Pay15th percentile

Employees

NameTitleOtherTotal
William SpirerPresident$114,543$114,543

Board Members and Trustees

NameTitle
Sara RossDirector
Sheriff BologanDirector
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$1,311,651
Investment Income
$0
Other Revenue
$0
Change in Net Assets
$238,264
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$1,073,387
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Occupancy$523,703--$523,703
Depreciation Depletion$465,756--$465,756
Fees for Services Other$76,939--$76,939
Fees for Services Accounting$6,639--$6,639
Other Expenses$350--$350
Total Functional Expenses$1,073,387$0$0$1,073,387
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
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Deferred Inflows of Resources, Net$19,586,874
Due to Affiliates$145,281
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
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
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
No

Governance Explanations

Form 990, Part VI, Section B, Line 11B

“This form 990 will be provided to all members of the organization's governing board before it is filed.”

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

“Annually all directors of this organization review the state conflict of interest overview and sign a conflict of interest acknowledgement.”

Form 990, Part VI, Section C, 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
Springfield Prep Realty Inc
EIN
85-3252010
Phone
4132312722
Address
2071 ROOSEVELT AVE, SPRINGFIELD, MA 01104

Signing Officer

Name
William Spirer
Title
President
Phone
4132312722
Signed
2023-03-03
Discuss with paid preparer
Yes

Organization Details

Principal Officer
William Spirer
Formed
2020
Legal Domicile
Ma
Voting Board Members
3
Independent Board Members
2
Employees
0
Volunteers
2

Preparer

Firm
Aafcpas Inc
Address
50 WASHINGTON STREET, WESTBOROUGH, MA 01581
Preparer
Caitlin Limoges CPA
Phone
5083669100
Supplemental Narrative

Additional Explanations

FORM 990, PART XII, LINE 2C:

“The organization has a finance committee that assumes responsibility for the oversight of the audit, review, or compilation of its financial statements and selection of an independent accountant.”

Raw XML Appendix389 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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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0THIS FORM 990 WILL BE PROVIDED TO ALL MEMBERS OF THE ORGANIZATION'S GOVERNING BOARD BEFORE IT IS FILED.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1ANNUALLY ALL DIRECTORS OF THIS ORGANIZATION REVIEW THE STATE CONFLICT OF INTEREST OVERVIEW AND SIGN A CONFLICT OF INTEREST ACKNOWLEDGEMENT.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2THE ORGANIZATION MAKES ITS GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3THE ORGANIZATION HAS A FINANCE COMMITTEE THAT ASSUMES RESPONSIBILITY FOR THE OVERSIGHT OF THE AUDIT, REVIEW, OR COMPILATION OF ITS FINANCIAL STATEMENTS AND SELECTION OF AN INDEPENDENT ACCOUNTANT.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PART VI, SECTION B, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PART VI, SECTION B, LINE 12C
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PART VI, SECTION C, LINE 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PART XII, LINE 2C:
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IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DisregardedEntityName/BusinessNameLine1Txt1FRIENDS OF SPRINGFIELD PREPARATORY CHARTER SCHOOL INC
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/EIN0464976124
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/EIN1464391150
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/ExemptCodeSectionTxt0170(B)(1)(A)
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/ExemptCodeSectionTxt1501(C)(3)
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/LegalDomicileStateCd0MA
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/LegalDomicileStateCd1MA
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/PrimaryActivitiesTxt0PUBLIC CHARTER SCHOOL
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/PrimaryActivitiesTxt1SUPPORT ORGANIZATION FOR SPCS
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/PublicCharityStatusTxt0N/A
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/PublicCharityStatusTxt1LINE 12A, I
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/AddressLine1Txt02071 ROOSEVELT AVENUE
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/AddressLine1Txt12071 ROOSEVELT AVENUE
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/CityNm0SPRINGFIELD
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/CityNm1SPRINGFIELD
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/StateAbbreviationCd0MA
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/StateAbbreviationCd1MA
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/ZIPCd001104
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/ZIPCd101104
IRS990ScheduleR/LoansOrGuaranteesFromOthOrgInd01
IRS990ScheduleR/LoansOrGuaranteesToOtherOrgInd01
IRS990ScheduleR/PaidEmployeesSharingInd00
IRS990ScheduleR/PerformOfServicesByOtherOrgInd00
IRS990ScheduleR/PerformOfServicesForOthOrgInd00
IRS990ScheduleR/ReceiptOfIntAnntsRntsRyltsInd00
IRS990ScheduleR/ReimbursementPaidByOtherOrgInd00
IRS990ScheduleR/ReimbursementPaidToOtherOrgInd00
IRS990ScheduleR/RentalOfFacilitiesToOthOrgInd00
IRS990ScheduleR/RentalOfFcltsFromOthOrgInd00
IRS990ScheduleR/SharingOfFacilitiesInd00
IRS990ScheduleR/TransactionsRelatedOrgGrp/InvolvedAmt0215643
IRS990ScheduleR/TransactionsRelatedOrgGrp/MethodOfAmountDeterminationTxt0AMOUNTS OWED TO SCHOOL
IRS990ScheduleR/TransactionsRelatedOrgGrp/OtherOrganizationName/BusinessNameLine1Txt0SPRINGFIELD PREPARATORY CHARTER SCHOOL
IRS990ScheduleR/TransactionsRelatedOrgGrp/TransactionTypeTxt0E
IRS990ScheduleR/TransferFromOtherOrgInd00
IRS990ScheduleR/TransferToOtherOrgInd00
IRS990/SchoolOperatingInd00
IRS990/SignificantChangeInd00
IRS990/SignificantNewProgramSrvcInd00
IRS990/StatesWhereCopyOfReturnIsFldCd0MA
IRS990/SubjectToExcsTaxNetInvstIncInd00
IRS990/SubjectToProxyTaxInd00
IRS990/SubjToTaxRmnrtnExPrchtPymtInd00
IRS990/TaxablePartyNotificationInd00
IRS990/TaxExemptBondsInd00
IRS990/TerminateOperationsInd00
IRS990/TotalAssetsBOYAmt020229591
IRS990/TotalAssetsEOYAmt039225856
IRS990/TotalAssetsGrp/BOYAmt020229591
IRS990/TotalAssetsGrp/EOYAmt039225856
IRS990/TotalCompGreaterThan150KInd00
IRS990/TotalEmployeeCnt00
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt00
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt01073387
IRS990/TotalFunctionalExpensesGrp/TotalAmt01073387
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt020229026
IRS990/TotalLiabilitiesEOYAmt038987027
IRS990/TotalLiabilitiesGrp/BOYAmt020229026
IRS990/TotalLiabilitiesGrp/EOYAmt038987027
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt0565
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt0238829
IRS990/TotalOtherCompensationAmt0910
IRS990/TotalProgramServiceExpensesAmt01073387
IRS990/TotalProgramServiceRevenueAmt01311651
IRS990/TotalReportableCompFromOrgAmt00
IRS990/TotalRevenueGrp/ExclusionAmt00
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt01311651
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt01311651
IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt00
IRS990/TotalVolunteersCnt02
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt020229591
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt039225856
IRS990/TotReportableCompRltdOrgAmt0113633
IRS990/TrnsfrExmptNonChrtblRltdOrgInd00
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd00
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt02071 ROOSEVELT AVE
IRS990/USAddress/CityNm0SPRINGFIELD
IRS990/USAddress/StateAbbreviationCd0MA
IRS990/USAddress/ZIPCd001104
IRS990/VotingMembersGoverningBodyCnt03
IRS990/VotingMembersIndependentCnt02
IRS990/WebsiteAddressTxt0WWW.SPRINGFIELDPREP.ORG
IRS990/WhistleblowerPolicyInd01
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/AuthenticationAssuranceLevelCd0AAL1
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/IdentityAssuranceLevelCd0IAL1
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/TrustedCustomerCd03
ReturnHeader/BuildTS02023-04-26 12:10:37Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd01
ReturnHeader/BusinessOfficerGrp/PersonNm0WILLIAM SPIRER
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0PRESIDENT
ReturnHeader/BusinessOfficerGrp/PhoneNum04132312722
ReturnHeader/BusinessOfficerGrp/SignatureDt02023-03-03
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0SPRINGFIELD PREP REALTY INC
ReturnHeader/Filer/BusinessNameControlTxt0SPRI
ReturnHeader/Filer/EIN0853252010
ReturnHeader/Filer/PhoneNum04132312722
ReturnHeader/Filer/USAddress/AddressLine1Txt02071 ROOSEVELT AVE
ReturnHeader/Filer/USAddress/CityNm0SPRINGFIELD
ReturnHeader/Filer/USAddress/StateAbbreviationCd0MA
ReturnHeader/Filer/USAddress/ZIPCd001104
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0042571780
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0AAFCPAS INC
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt050 WASHINGTON STREET
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0WESTBOROUGH
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0MA
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd001581
ReturnHeader/PreparerPersonGrp/PhoneNum05083669100
ReturnHeader/PreparerPersonGrp/PreparationDt02023-03-03
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0CAITLIN LIMOGES CPA
ReturnHeader/ReturnTs02023-03-07T16:49:14-06:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonFirstNm0WILLIAM
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonLastNm0SPIRER
ReturnHeader/TaxPeriodBeginDt02021-07-01
ReturnHeader/TaxPeriodEndDt02022-06-30
ReturnHeader/TaxYr02021

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Filings

Displayed year

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

Open filing
Assets
$39,225,856
Liabilities
$38,987,027
Net assets
$238,829
Revenue
$1,311,651
Expenses
$1,073,387
Net income
$238,264
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2025Detailed filing. Detailed filing data is available for this year.$36.6$35.6$1.03$1.42$1.15$0.27
2024Detailed filing. Detailed filing data is available for this year.$37.5$36.7$0.76$1.43$1.16$0.27
2023Detailed filing. Detailed filing data is available for this year.$38.4$37.9$0.49$1.43$1.18$0.25
2022Detailed filing. Detailed filing data is available for this year.$39.2$39.0$0.24$1.31$1.07$0.24
2021Detailed filing. Detailed filing data is available for this year.$20.2$20.2$0.00$0.88$0.88$0.00