Civic Intelligence

Essence Prep Inc.

990 • Fiscal year 2023 • EIN 85-3931348

Sep 01, 2022 to Jun 30, 2023 • Filed on Feb 04, 2024

Organization ProfileESSENCEPREPSA.ORG
4535 Lord RdSan Antonio, TX 78220

(210) 997-5636

Siviq Scores

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

Liabilities / Assets

88th percentile

0.96x

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

2023 filings • NTEE B • $25M-$50M nonprofits • Source year 2023

Liabilities / Revenue

89th percentile

6.62x

Higher debt load relative to revenue than 89% of similar nonprofits.

2023 filings • NTEE B • $25M-$50M nonprofits • Source year 2023

Net Margin

89th percentile

37%

Higher net margin than 89% of similar nonprofits.

2023 filings • NTEE B • $25M-$50M nonprofits • Source year 2023

Top Officer Pay

27th percentile

$116,240

Higher top officer pay than 27% of similar nonprofits.

Top officer pay equals 2.7% of source-year revenue.

2023 filings • NTEE B • $25M-$50M nonprofits • Source year 2023

Asset Growth

98th percentile

2681%

Faster asset growth than 98% of similar nonprofits.

2023 filings • NTEE B • $25M-$50M nonprofits • Annualized from 2022 to 2023

Revenue Growth

96th percentile

185%

Faster revenue growth than 96% of similar nonprofits.

2023 filings • NTEE B • $25M-$50M nonprofits • Annualized from 2022 to 2023

Balance Sheet
Liabilities / Assets88th percentile

Assets

Up

$29,567,266

Up $28,503,894 (+2681%) from 2022

Net Assets

Up

$1,141,658

Up $742,267 (+186%) from 2022

Liabilities

Up

$28,425,608

Up $27,761,627 (+4181%) from 2022

Revenue And Expenses
Liabilities / Revenue89th percentileNet Margin89th percentile

Revenue

Up

$4,295,871

Up $2,788,923 (+185%) from 2022

Expenses

Up

$2,712,187

Up $1,205,457 (+80%) from 2022

Net Income

Up

$1,583,684

Up $1,583,466 (+726361%) from 2022

Historical Trend

Balance Sheet Trend

Asset Growth98th percentile

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

$30M$20M$10M$0Assets 2022: $1,063,372Liabilities 2022: $663,981Net Assets 2022: $399,3912022Assets 2023: $29,567,266Liabilities 2023: $28,425,608Net Assets 2023: $1,141,6582023Assets 2024: $29,617,451Liabilities 2024: $29,170,040Net Assets 2024: $447,4112024

Highlighted filing

2023

Assets$29,567,266
Liabilities$28,425,608
Net Assets$1,141,658
Open 2023 Filing

Operations Trend

Revenue Growth96th percentile

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

$6.0M$4.0M$2.0M$0-$2.0MRevenue 2022: $1,506,948Expenses 2022: $1,506,730Net Income 2022: $2182022Revenue 2023: $4,295,871Expenses 2023: $2,712,187Net Income 2023: $1,583,6842023Revenue 2024: $4,530,400Expenses 2024: $5,224,647Net Income 2024: -$694,2472024

Highlighted filing

2023

Revenue$4,295,871
Expenses$2,712,187
Net Income$1,583,684
Open 2023 Filing
Jump To
Filing Snapshot
Filing Period
Sep 1, 2022 to Jun 30, 2023
Signed
Feb 4, 2024
Return Version
2022v5.0
Gross Receipts
$4,295,871
Mission and Program Overview

Mission

Developing leading agents of changeEssence Preparatory Public School, through rigorous academics, intentional character development, and cultivating student knowledge of self, prepares all kindergarten through eighth grade students for high school, college, and beyond as leading agents of change in their communities.

Balance Sheet Detail
LineBeginningEndChange
Assets
Cash and Non-Interest-Bearing Accounts$-62,645$17,493,318▲ $17,555,963
Land, Buildings, and Equipment, Net$1,064,943$11,835,002▲ $10,770,059
Accounts Receivable$1,180$105,071▲ $103,891
Prepaid Expenses and Deferred Charges$21,789$0▼ $21,789
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$1,063,372$29,567,266▲ $28,503,894
Other Assets Total$38,105$133,875▲ $95,770
Liabilities
Other Liabilities$21,256$27,718,806▲ $27,697,550
Mortgage Notes Payable Secured by Investment Property$637,725$637,725→ $0
Accounts Payable and Accrued Expenses$5,000$69,077▲ $64,077
Total Liabilities$663,981$28,425,608▲ $27,761,627
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$399,391$1,141,658▲ $742,267
Total Net Assets Fund Balance$399,391$1,141,658▲ $742,267
Total Liabilities and Net Assets / Fund Balance$1,063,372$29,567,266▲ $28,503,894

Asset Categories

AssetBook ValueDepreciationBasis
Land$1,897,005-$1,897,005
Other Land Buildings$8,959,141$55,216$1,386,870
Buildings$978,856$65,689$1,044,545
Compensation and Service Providers
Top Officer Pay27th percentile

Employees

NameTitleFull / Part TimeBaseTotal
Akeem BrownSuperintendentFT$116,240$116,240

Board Members and Trustees

NameTitle
Brian DillardChairman
Kanwal S LopezVice Chair
Henrietta MunozBoard Member
Kim AbernethyBoard Member
Marques MitchellBoard Member
Mary GradneyBoard Member
Mike FrisbieBoard Member
Jackie GormanSecretary
George PedrazaTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$3,761,698
Program Service Revenue
$0
Investment Income
$534,173
Other Revenue
$0
All Other Contributions
$1,582,633
Change in Net Assets
$1,583,684

Audited Revenue Reconciliation

Revenue per Audited Statements
$4,806,877
Revenue Not Reported on Financial Statements
$-511,006
Other Revenue Adjustments
$-511,006
Total Revenue per Audited Statements
$4,806,877
Total Revenue per Form 990
$4,295,871
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$1,746,986
Other Expenses$965,201
Total Fundraising Expense$73,083
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$1,145,083$257,770-$1,402,853
Fees for Services Other$160,378$198,205-$358,583
Payroll Taxes$88,710$36,018-$124,728
Depreciation Depletion$120,905--$120,905
Current Officers, Directors, Trustees, and Key Employees$52,308$63,932-$116,240
Pension Plan Contributions$92,687$10,478-$103,165
Other Expenses$48,411$8,177$73,083$48,411
Travel$30,977$14,493-$45,470
Insurance$31,872--$31,872
All Other Expenses$29,395$1,180-$30,575
Total Functional Expenses$2,045,601$593,503$73,083$2,712,187

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$3,580,026
Total Expenses per Audited Statements$3,580,026
Total Expenses per Form 990$2,712,187
Expenses Not Reported on Financial Statements$-867,839
Other Expense Adjustments$-867,839
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
Bonds Payable$27,649,820
Payroll Liabilities$68,986
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Audit committee
No
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
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

“The organization makes its governing documents and finacial statements available upon request.”

Filing and Contact Details

Filer

Filer Name
Essence Prep Inc
EIN
85-3931348
Phone
2109975636
Address
4535 LORD RD, SAN ANTONIO, TX 78220

Signing Officer

Name
Akeem Brown
Title
Superintendent
Signed
2024-02-04
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Akeem Brown
Formed
2020
Legal Domicile
TX
Voting Board Members
9
Independent Board Members
9
Employees
33
Volunteers
6

Preparer

Firm
Schriver Carmona & Company Pllc
Address
7550 IH-10 Ste 504, SAN ANTONIO, TX 78229
Preparer
Christopher Carmona CPA
Phone
2106800350
Supplemental Narrative

Additional Explanations

Form 990, Part XI, Line 9

“Adjustment for change in accounting period = -$841417”

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IRS990/OtherChangesInNetAssetsAmt0-841417
IRS990/OtherEmployeeBenefitsGrp/TotalAmt00
IRS990/OtherExpensesGrp/Desc0SUPPLIES
IRS990/OtherExpensesGrp/Desc1FUNDRAISING
IRS990/OtherExpensesGrp/Desc2MISCELLANEOUS
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IRS990/OtherExpensesGrp/FundraisingAmt073083
IRS990/OtherExpensesGrp/ManagementAndGeneralAmt03250
IRS990/OtherExpensesGrp/ManagementAndGeneralAmt18177
IRS990/OtherExpensesGrp/ProgramServicesAmt0184079
IRS990/OtherExpensesGrp/ProgramServicesAmt160796
IRS990/OtherExpensesGrp/ProgramServicesAmt248411
IRS990/OtherExpensesGrp/TotalAmt0187329
IRS990/OtherExpensesGrp/TotalAmt173083
IRS990/OtherExpensesGrp/TotalAmt268973
IRS990/OtherExpensesGrp/TotalAmt348411
IRS990/OtherLiabilitiesGrp/BOYAmt021256
IRS990/OtherLiabilitiesGrp/EOYAmt027718806
IRS990/OtherRevenueTotalAmt00
IRS990/OtherSalariesAndWagesGrp/ManagementAndGeneralAmt0257770
IRS990/OtherSalariesAndWagesGrp/ProgramServicesAmt01145083
IRS990/OtherSalariesAndWagesGrp/TotalAmt01402853
IRS990/OtherWebsiteInd0X
IRS990/OthNotesLoansReceivableNetGrp/EOYAmt00
IRS990/PartialLiquidationInd0false
IRS990/PaymentsToAffiliatesGrp/TotalAmt00
IRS990/PayPremiumsPrsnlBnftCntrctInd0false
IRS990/PayrollTaxesGrp/ManagementAndGeneralAmt036018
IRS990/PayrollTaxesGrp/ProgramServicesAmt088710
IRS990/PayrollTaxesGrp/TotalAmt0124728
IRS990/PensionPlanContributionsGrp/ManagementAndGeneralAmt010478
IRS990/PensionPlanContributionsGrp/ProgramServicesAmt092687
IRS990/PensionPlanContributionsGrp/TotalAmt0103165
IRS990/PledgesAndGrantsReceivableGrp/EOYAmt00
IRS990/PoliticalCampaignActyInd0false
IRS990/PrepaidExpensesDefrdChargesGrp/BOYAmt021789
IRS990/PrepaidExpensesDefrdChargesGrp/EOYAmt00
IRS990/PrincipalOfficerNm0AKEEM BROWN
IRS990/ProfessionalFundraisingInd0false
IRS990/ProhibitedTaxShelterTransInd0false
IRS990/PYContributionsGrantsAmt01506948
IRS990/PYExcessBenefitTransInd0false
IRS990/PymtTravelEntrtnmntPubOfclGrp/TotalAmt00
IRS990/PYOtherExpensesAmt0890763
IRS990/PYRevenuesLessExpensesAmt0218
IRS990/PYSalariesCompEmpBnftPaidAmt0615967
IRS990/PYTotalExpensesAmt01506730
IRS990/PYTotalRevenueAmt01506948
IRS990/QuidProQuoContributionsInd0false
IRS990/RcvblFromDisqualifiedPrsnGrp/EOYAmt00
IRS990/RcvFndsToPayPrsnlBnftCntrctInd0false
IRS990/ReceivablesFromOfficersEtcGrp/EOYAmt00
IRS990/ReconcilationRevenueExpnssAmt01583684
IRS990/RelatedEntityInd0false
IRS990/RelatedOrganizationCtrlEntInd0false
IRS990/ReportInvestmentsOtherSecInd0false
IRS990/ReportLandBuildingEquipmentInd0true
IRS990/ReportOtherAssetsInd0false
IRS990/ReportOtherLiabilitiesInd0true
IRS990/ReportProgramRelatedInvstInd0false
IRS990/RoyaltiesGrp/TotalAmt00
IRS990/RoyaltiesRevenueGrp/TotalRevenueColumnAmt00
IRS990/SavingsAndTempCashInvstGrp/EOYAmt00
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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/BuildingsGrp/BookValueAmt0978856
IRS990ScheduleD/BuildingsGrp/DepreciationAmt065689
IRS990ScheduleD/BuildingsGrp/OtherCostOrOtherBasisAmt01044545
IRS990ScheduleD/ExpensesNotRptFinclStmtAmt0-867839
IRS990ScheduleD/ExpensesSubtotalAmt03580026
IRS990ScheduleD/LandGrp/BookValueAmt01897005
IRS990ScheduleD/LandGrp/OtherCostOrOtherBasisAmt01897005
IRS990ScheduleD/OtherExpensesNotIncludedAmt0-867839
IRS990ScheduleD/OtherLandBuildingsGrp/BookValueAmt08959141
IRS990ScheduleD/OtherLandBuildingsGrp/DepreciationAmt055216
IRS990ScheduleD/OtherLandBuildingsGrp/InvestmentCostOrOtherBasisAmt07627487
IRS990ScheduleD/OtherLandBuildingsGrp/OtherCostOrOtherBasisAmt01386870
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt027649820
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt168986
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0BONDS PAYABLE
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc1PAYROLL LIABILITIES
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IRS990ScheduleD/RevenueNotReportedFinclStmtAmt0-511006
IRS990ScheduleD/RevenueSubtotalAmt04806877
IRS990ScheduleD/TotalBookValueLandBuildingsAmt011835002
IRS990ScheduleD/TotalExpensesPerForm990Amt02712187
IRS990ScheduleD/TotalLiabilityAmt027718806
IRS990ScheduleD/TotalRevenuePerForm990Amt04295871
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt04806877
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt03580026
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/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/ExplanationTxt1THE ORGANIZATION MAKES ITS GOVERNING DOCUMENTS AND FINACIAL STATEMENTS AVAILABLE UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2ADJUSTMENT FOR CHANGE IN ACCOUNTING PERIOD = -$841417
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0Form 990, Part VI, Section B, Line 11b
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1Form 990, Part VI, Section C, Line 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2Form 990, Part XI, Line 9
IRS990/SchoolOperatingInd0true
IRS990/SignificantChangeInd0false
IRS990/SignificantNewProgramSrvcInd0false
IRS990/SubjectToExcsTaxNetInvstIncInd0false
IRS990/SubjectToProxyTaxInd0false
IRS990/SubjToTaxRmnrtnExPrchtPymtInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TerminateOperationsInd0false
IRS990/TotalAssetsBOYAmt01063372
IRS990/TotalAssetsEOYAmt029567266
IRS990/TotalAssetsGrp/BOYAmt01063372
IRS990/TotalAssetsGrp/EOYAmt029567266
IRS990/TotalCompGreaterThan150KInd0false
IRS990/TotalContributionsAmt03761698
IRS990/TotalEmployeeCnt033
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt073083
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt0593503
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt02045601
IRS990/TotalFunctionalExpensesGrp/TotalAmt02712187
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt0663981
IRS990/TotalLiabilitiesEOYAmt028425608

Document Assets

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Filings

Displayed year

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

Open filing
Assets
$29,567,266
Liabilities
$28,425,608
Net assets
$1,141,658
Revenue
$4,295,871
Expenses
$2,712,187
Net income
$1,583,684
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$29.6$29.2$0.45$4.53$5.22$0.69
2023Detailed filing. Detailed filing data is available for this year.$29.6$28.4$1.14$4.30$2.71$1.58
2022Detailed filing. Detailed filing data is available for this year.$1.06$0.66$0.40$1.51$1.51$0.00