Civic Intelligence

Springfield Prep Realty Inc

990 • Fiscal year 2024 • EIN 85-3252010

Jul 01, 2023 to Jun 30, 2024 • Filed on Feb 21, 2025

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

93rd percentile

0.98x

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

2024 filings • 501(c)3 • $25M-$50M nonprofits • Source year 2024

Liabilities / Revenue

98th percentile

25.73x

Higher debt load relative to revenue than 98% of similar nonprofits.

2024 filings • 501(c)3 • $25M-$50M nonprofits • Source year 2024

Net Margin

74th percentile

19%

Higher net margin than 74% of similar nonprofits.

2024 filings • 501(c)3 • $25M-$50M nonprofits • Source year 2024

Top Officer Pay

19th percentile

$143,851

Higher top officer pay than 19% of similar nonprofits.

Top officer pay equals 10.1% of source-year revenue.

2024 filings • 501(c)3 • $25M-$50M nonprofits • Source year 2024

Asset Growth

20th percentile

-2.4%

Faster asset growth than 20% of similar nonprofits.

2024 filings • 501(c)3 • $25M-$50M nonprofits • Annualized from 2023 to 2024

Revenue Growth

29th percentile

-0.4%

Faster revenue growth than 29% of similar nonprofits.

2024 filings • 501(c)3 • $25M-$50M nonprofits • Annualized from 2023 to 2024

Balance Sheet
Liabilities / Assets93rd percentile

Assets

Down

$37,482,476

Down $930,918 (-2.4%) from 2023

Net Assets

Up

$759,398

Up $266,120 (+54%) from 2023

Liabilities

Down

$36,723,078

Down $1,197,038 (-3.2%) from 2023

Revenue And Expenses
Liabilities / Revenue98th percentileNet Margin74th percentile

Revenue

Down

$1,427,420

Down $5,373 (-0.4%) from 2023

Expenses

Down

$1,161,300

Down $17,044 (-1.4%) from 2023

Net Income

Up

$266,120

Up $11,671 (+4.6%) from 2023

Historical Trend

Balance Sheet Trend

Asset Growth20th 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

2024

Assets$37,482,476
Liabilities$36,723,078
Net Assets$759,398
Open 2024 Filing

Operations Trend

Revenue Growth29th 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

2024

Revenue$1,427,420
Expenses$1,161,300
Net Income$266,120
Open 2024 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2023 to Jun 30, 2024
Signed
Feb 21, 2025
Return Version
2023v6.0
Gross Receipts
$1,427,420
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$17,521,743$16,956,472▼ $565,271
Cash and Non-Interest-Bearing Accounts$554,827$425,914▼ $128,913
Savings and Temporary Cash Investments$245,158$284,108▲ $38,950
Accounts Receivable$167--
Total Assets$38,413,394$37,482,476▼ $930,918
Other Assets Total$20,091,499$19,815,982▼ $275,517
Liabilities
Mortgage Notes Payable Secured by Investment Property$19,042,084$18,706,901▼ $335,183
Other Liabilities$18,872,782$18,016,177▼ $856,605
Accounts Payable and Accrued Expenses$5,250--
Total Liabilities$37,920,116$36,723,078▼ $1,197,038
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$493,278$759,398▲ $266,120
Total Net Assets Fund Balance$493,278$759,398▲ $266,120
Total Liabilities and Net Assets / Fund Balance$38,413,394$37,482,476▼ $930,918

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$16,007,514$1,540,734$17,548,248
Equipment$358,039$34,462$392,501
Land$371,700-$371,700
Other Land Buildings$219,219$21,100$240,319
Other Assets Org$66,923--
Compensation and Service Providers
Top Officer Pay19th percentile

Employees

NameTitleOtherTotal
William SpirerExecutive Director$143,851$143,851

Board Members and Trustees

NameTitle
Sara RossPresident
Mary WalachyClerk
Frank RobertsTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$1,421,246
Investment Income
$6,174
Other Revenue
$0
Change in Net Assets
$266,120
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$1,161,300
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
Depreciation Depletion$565,271--$565,271
Occupancy$514,873--$514,873
Fees for Services Other$76,214--$76,214
Other Expenses$2,676--$2,676
Fees for Services Accounting$2,266--$2,266
Total Functional Expenses$1,161,300$0$0$1,161,300
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$17,880,820
Due to Affiliates$135,357
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
Sara Ross
Title
President
Phone
4132312722
Signed
2025-02-21
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Sara Ross
Formed
2020
Legal Domicile
Ma
Voting Board Members
4
Independent Board Members
3
Employees
0
Volunteers
3

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:

“Related organization springfield preparatory charter school 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.”

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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/ExplanationTxt3RELATED ORGANIZATION SPRINGFIELD PREPARATORY CHARTER SCHOOL 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/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/ReimbursementPaidToOtherOrgInd01
IRS990ScheduleR/RentalOfFacilitiesToOthOrgInd01
IRS990ScheduleR/RentalOfFcltsFromOthOrgInd00
IRS990ScheduleR/SharingOfFacilitiesInd00
IRS990ScheduleR/TransactionsRelatedOrgGrp/InvolvedAmt0135357
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/TotalAssetsBOYAmt038413394
IRS990/TotalAssetsEOYAmt037482476
IRS990/TotalAssetsGrp/BOYAmt038413394
IRS990/TotalAssetsGrp/EOYAmt037482476
IRS990/TotalCompGreaterThan150KInd00
IRS990/TotalEmployeeCnt00
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt00
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt01161300
IRS990/TotalFunctionalExpensesGrp/TotalAmt01161300
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt037920116
IRS990/TotalLiabilitiesEOYAmt036723078
IRS990/TotalLiabilitiesGrp/BOYAmt037920116
IRS990/TotalLiabilitiesGrp/EOYAmt036723078
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt0493278
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt0759398
IRS990/TotalOtherCompensationAmt01219
IRS990/TotalProgramServiceExpensesAmt01161300
IRS990/TotalProgramServiceRevenueAmt01421246
IRS990/TotalReportableCompFromOrgAmt00
IRS990/TotalRevenueGrp/ExclusionAmt06174
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt01421246
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt01427420
IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt00
IRS990/TotalVolunteersCnt03
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt038413394
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt037482476
IRS990/TotReportableCompRltdOrgAmt0142632
IRS990/TrnsfrExmptNonChrtblRltdOrgInd00
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd00
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt02071 ROOSEVELT AVE
IRS990/USAddress/CityNm0SPRINGFIELD
IRS990/USAddress/StateAbbreviationCd0MA
IRS990/USAddress/ZIPCd001104
IRS990/VotingMembersGoverningBodyCnt04
IRS990/VotingMembersIndependentCnt03
IRS990/WebsiteAddressTxt0WWW.SPRINGFIELDPREP.ORG
IRS990/WhistleblowerPolicyInd00
ReturnHeader/BuildTS02025-03-06 01:10:19Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd01
ReturnHeader/BusinessOfficerGrp/PersonNm0SARA ROSS
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0PRESIDENT
ReturnHeader/BusinessOfficerGrp/PhoneNum04132312722
ReturnHeader/BusinessOfficerGrp/SignatureDt02025-02-21
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/IRSResponsiblePrtyInfoCurrInd01
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/PreparationDt02025-02-21
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0CAITLIN LIMOGES CPA
ReturnHeader/ReturnTs02025-02-25T09:46:42-06:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02023-07-01
ReturnHeader/TaxPeriodEndDt02024-06-30
ReturnHeader/TaxYr02023

Document Assets

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Filings

Displayed year

2024 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$37,482,476
Liabilities
$36,723,078
Net assets
$759,398
Revenue
$1,427,420
Expenses
$1,161,300
Net income
$266,120
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