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Nonprofiteer
← INGENUITY PREP

Form 990 for tax year 2024

Filed by INGENUITY PREP.

Totals

Total revenue
$27,235,650
Total expenses
$25,626,893
Contributions and grants received
$3,631,383
Grants paid
$0
Program service revenue
$23,211,125
Investment income
$228,278
Other revenue
$164,864
Total assets, end of year
$33,366,587
Total liabilities, end of year
$20,780,845
Net assets or fund balances, end of year
$12,585,742
Program services expenses (Part IX)
$23,275,585
Management and general expenses
$2,116,127
Fundraising expenses
$235,181
Program service expenses (Part III)
$23,275,585

Program services were 90.8% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.

Line items

Every line the filer filed in Parts VIII, IX and X, as filed and in filed order. Blank columns are left out, and the lines are not forced to add up to the totals above.

Revenue

Part VIII, the statement of revenue.

  • 1c · Fundraising events

    $11,203

  • 1e · Government grants (contributions)

    $3,240,079

  • 1f · All other contributions, gifts and grants

    $380,101

  • 1g · Noncash contributions included above

    $39,286

  • 2a · Program service revenue: PER PUPIL FUNDING

    total $23,142,208 · related or exempt $23,142,208

  • 2b · Program service revenue: STUDENT ACTIVITY FEES

    total $63,127 · related or exempt $63,127

  • 2c · Program service revenue: MEDICAID

    total $5,790 · related or exempt $5,790

  • 3 · Investment income

    total $228,502 · excluded $228,502

  • 6a · Gross rents

    real property $1,138,998

  • 6b · Less rental expenses

    real property $953,969

  • 6c · Rental income or loss

    real property $185,029

  • 6d · Net rental income or loss

    total $185,029 · excluded $185,029

  • 7b · Less cost or other basis and sales expenses

    other assets $224

  • 7c · Gain or loss

    other assets -$224

  • 7d · Net gain or loss

    total -$224 · excluded -$224

  • 8a · Fundraising events: contributions included on line 1c

    $11,203

  • 8b · Fundraising events: direct expenses

    $20,165

  • 8c · Net income from fundraising events

    total -$20,165 · excluded -$20,165

Functional expenses

Part IX, the statement of functional expenses.

  • 5 · Compensation of officers, directors and key employees

    total $398,110 · program services $287,133 · management and general $74,691 · fundraising $36,286

  • 7 · Other salaries and wages

    total $13,162,157 · program services $12,354,179 · management and general $744,930 · fundraising $63,048

  • 8 · Pension plan contributions

    total $185,086 · program services $173,861 · management and general $10,523 · fundraising $702

  • 9 · Other employee benefits

    total $1,446,167 · program services $1,358,458 · management and general $82,227 · fundraising $5,482

  • 10 · Payroll taxes

    total $1,202,550 · program services $1,129,617 · management and general $68,375 · fundraising $4,558

  • 11b · Fees: legal

    total $201,229 · program services $18,000 · management and general $183,229

  • 11c · Fees: accounting

    total $294,574 · management and general $294,574

  • 11e · Fees: professional fundraising services

    total $96,200 · fundraising $96,200

  • 11g · Fees: other

    total $1,039,247 · program services $752,269 · management and general $286,978

  • 12 · Advertising and promotion

    total $122,190 · program services $114,080 · management and general $7,383 · fundraising $727

  • 13 · Office expenses

    total $649,315 · program services $623,071 · management and general $26,244

  • 14 · Information technology

    total $290,763 · program services $273,088 · management and general $17,675

  • 16 · Occupancy

    total $3,308,923 · program services $3,089,296 · management and general $199,945 · fundraising $19,682

  • 17 · Travel

    total $46,854 · program services $43,744 · management and general $2,831 · fundraising $279

  • 20 · Interest

    total $289,640 · program services $272,034 · management and general $17,606

  • 22 · Depreciation, depletion and amortization

    total $653,671 · program services $613,936 · management and general $39,735

  • 23 · Insurance

    total $81,443 · program services $76,492 · management and general $4,951

  • 24a · Other expenses: FOOD SERVICE

    total $689,455 · program services $689,455

  • 24b · Other expenses: DIRECT STUDENT COSTS

    total $568,993 · program services $568,993

  • 24c · Other expenses: OTHER STAFF EXPENSES

    total $321,862 · program services $300,498 · management and general $19,450 · fundraising $1,914

  • 24d · Other expenses: STAFF DEVELOPMENT

    total $268,784 · program services $250,944 · management and general $16,241 · fundraising $1,599

  • 24e · All other expenses

    total $309,680 · program services $286,437 · management and general $18,539 · fundraising $4,704

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $1,164,797 · end of year $1,085,417

  • 2 · Savings and temporary cash investments

    beginning of year $7,894,981 · end of year $10,733,425

  • 3 · Pledges and grants receivable

    beginning of year $2,101,186 · end of year $707,068

  • 4 · Accounts receivable

    beginning of year $186,244 · end of year $762,075

  • 9 · Prepaid expenses and deferred charges

    beginning of year $352,353 · end of year $287,699

  • 10a · Land, buildings and equipment: cost or other basis

    $10,468,493

  • 10b · Land, buildings and equipment: accumulated depreciation

    $3,804,420

  • 10c · Land, buildings and equipment, net

    beginning of year $6,200,849 · end of year $6,664,073

  • 14 · Intangible assets

    beginning of year $89,210 · end of year $13,667

  • 15 · Other assets

    beginning of year $14,409,775 · end of year $13,113,163

  • 17 · Accounts payable and accrued expenses

    beginning of year $1,604,211 · end of year $1,204,244

  • 19 · Deferred revenue

    beginning of year $219,459 · end of year $139,776

  • 23 · Secured mortgages and notes payable

    beginning of year $4,625,000 · end of year $4,434,498

  • 25 · Other liabilities

    beginning of year $14,973,740 · end of year $15,002,327

  • 27 · Net assets without donor restrictions

    beginning of year $10,966,985 · end of year $12,585,742

  • 28 · Net assets with donor restrictions

    beginning of year $10,000

Mission and programs · 2024

Mission

INGENUITY PREP PUBLIC CHARTER SCHOOL WAS FORMED TO PREPARE STUDENTS TO SUCCEED IN COLLEGE AND BEYOND AS IMPACTFUL CIVIIC LEADERS.

  • INGENUITY PREP PUBLIC CHARTER SCHOOL IS A SUPPORTIVE COMMUNITY DEDICATED TO ACADEMIC RIGOR AND CIVIC LEADERSHIP, PREPARING STUDENTS FOR THE PATH TO THE COLLEGES AND CAREERS OF THEIR CHOOSING. WITH THIS AIM, THE CHARTER SCHOOL OPENED IN WASHINGTON, DC, IN AUGUST OF 2013 AND HAS EXPENDED TO NOW SERVE OVER 800 STUDENTS IN PRESCHOOL THROUGH 8TH GRADE AND HAS A STAFF OF MORE THAN 160. INGENUITY PREP IS ORGANIZED INTO THREE ACADEMIES: EARLY CHILDHOOD ACADEMY (SERVING GRADES PRESCHOOL THROUGH KINDERGARTEN), ELEMENTARY SCHOOL ACADEMY (SERVING GRADES 1 THROUGH 4), AND MIDDLE SCHOOL ACADEMY (SERVING GRADES 5 THROUGH 8). WE PREPARE OUR STUDENTS FOR SUCCESS IN COLLEGE AND IN LIFE. WE SET HIGH STANDARDS AND STRIVE TO CULTIVATE A LOVE OF LEARNING IN EVERY STUDENT. WE ARE A PLACE WHERE STUDENTS CAN LEARN, ESTABLISH DEEP RELATIONSHIPS AND PREPARE TO BECOME IMPACTFUL CIVIC LEADERS. THE CORNERSTONES OF INGENUITY PREP'S PROGRAM ARE: RIGOROUS CONTENT AND INDIVIDUALIZED INSTRUCTION - WE START BY SETTING HIGH ACADEMIC STANDARDS FOR OUR STUDENTS, AND CREATING THE CIRCUMSTANCES FOR THEM TO ACHIEVE ACADEMIC EXCELLENCE. WE BELIEVE THAT THE BEST WAY TO DO THIS IS BY LEVERAGING A ROBUST CURRICULUM AND CONSISTENTLY DELIVERING WELL-PLANNED, HIGH-QUALITY LESSONS. WE ARE ABLE TO ACCOMPLISH OUR GOALS BY BEING RESPONSIVE TO STUDENT DATA, MAINTAINING LOW TEACHER-TO-STUDENT RATIOS SO THAT STUDENTS ARE ALWAYS GETTING PERSONALIZED AND SMALL GROUP LEARNING, ENABLING TEACHER CONTENT SPECIALIZATION AS EARLY AS KINDERGARTEN SO THAT OUR TEACHERS ARE TRUE EXPERTS IN THE SUBJECTS THAT THEY TEACH, AND INTENTIONALLY LEVERAGING TECHNOLOGY TO EVEN FURTHER PERSONALIZEAND ACCELERATE STUDENT LEARNING. CIVIC LEADERSHIP - WE BELIEVE THAT ACADEMIC EXCELLENCE - WHILE VERY IMPORTANT - IS NOT SUFFICIENT TO PREPARE STUDENTS FOR THE DEMANDS OF 21ST CENTURY LEADERSHIP. BUILDING CIVIC LEADERS IS CORE TO OUR MISSION. WE WANT TO EQUIP STUDENTS TO PURSUE THEIR PASSIONS AND BE EMPOWERED TO THINK, SPEAK, AND ACT POSITIVELY ON BEHALF OF THEMSELVES, THEIR COMMUNITY, THE COUNTRY, AND THE WORLD. BEGINNING IN PRE-K, CIVIC LEADERSHIP CLASS TIME AND ACTIVITIES ARE INTENTIONALLY BUILT INTO OUR SCHEDULE. IN OUR EARLY GRADES, WE FOCUS ON SOCIAL-EMOTIONAL INSTRUCTION SO THAT STUDENTS BUILD SKILLS IN EMPATHY, RESILIENCE, AND SELF-ADVOCACY. AS OUR STUDENTS GET OLDER, WE CONTINUE TO BUILD ON SOCIAL-EMOTIONAL SKILLS WHILE ALSO HAVING STUDENTS ENGAGE WITH SPECIFIC SOCIAL JUSTICE ISSUES AND PROVIDING THEM WITH OPPORTUNITIES TO ENGAGE WITH THOSE ISSUES IN THEIR COMMUNITY. FOR EXAMPLE, WHEN OUR 4TH GRADERS LEARNED ABOUT OUR FOOD DESERT IN WARD 8, THEY PLANNED A FOOD DRIVE AND DELIVERED THE PROCEEDS TO LOCAL FOOD BANKS. ENRICHMENT - WE PROVIDE DAILY OPPORTUNITIES FOR STUDENTS TO PURSUE INTEREST AREAS OUTSIDE OF TRADITIONAL ACADEMICS. OUR ENRICHMENT PROGRAMS START IN PRE-K WITH ART AND PHYSICAL EDUCATION AND BUILD THROUGHOUT THE COURSE OF ELEMENTARY AND MIDDLE SCHOOL WHERE WE ADD MUSIC AND EXPANDED SCIENCE AND SOCIAL STUDIES CLASSES. ENRICHMENTS ARE OPPORTUNITIES FOR STUDENTS TO BUILD KNOWLEDGE IN AREAS OF PASSION, WHICH IN TURN FUEL MOTIVATION AND FOSTER GROWTH MINDSET. WE BELIEVE STRONG ENRICHMENT SUPPORTS STUDENT GROWTH AND MOTIVATION ACROSS ALL PARTS OF THE SCHOOL EXPERIENCE. IN ADDITION TO THE CORE COMPONENTS OF OUR DAY-TO-DAY PROGRAM, THEMES OF COMMUNITY, RELATIONSHIPS, AND EQUITY OF ACCESS RUN THROUGH EVERY PART OF OUR SCHOOL. THESE PRINCIPLES ARE CORE TO OUR SCHOOL'S IDENTITY: COMMUNITY AND RELATIONSHIPS: COMMUNITY AND RELATIONSHIPS ARE INTEGRAL PARTS OF ACADEMIC AND PERSONAL DEVELOPMENT. OUR TEACHERS TAKE TIME TO BUILD MEANINGFUL CONNECTIONS WITH STUDENTS, WORKING INTENTIONALLY TO GET TO KNOW THEM AS PEOPLE. WE ALSO HOLD UP FAMILIES AS CRITICAL MEMBERS OF OUR SCHOOL COMMUNITY. WE BELIEVE IN CULTIVATING THEM AS PARTNERS AND PROVIDING THEM WITH TOOLS AND RESOURCES TO SUPPORT STUDENTS TO MEET THEIR GOALS AND REALIZE THEIR DREAMS. FURTHER, WE WORK INTENTIONALLY TO SUPPORT STUDENTS TO BUILD THEIR OWN COMMUNITY AT SCHOOL THROUGH SOCIAL-EMOTIONAL LEARNING ACTIVITIES AND RESTORATIVE PRACTICE TO SUPPORT COMMUNICATING COMMUNALLY WITH AND TO ANYONE IN THE INGENUITY PREP COMMUNITY. LAST, BUT NOT LEAST, WE ARE COMMITTED,ACTIVE PARTICIPANTS IN OUR WARD 8 COMMUNITY. EQUITY OF ACCESS: THERE IS STILL TOO LARGE A DIVIDE IN OUR COUNTRY BETWEEN THE EDUCATIONAL OPPORTUNITIES OF STUDENTS FROM DIFFERENT COMMUNITIES AND BACKGROUNDS. AT INGENUITY PREP WE STRIVE TO PROVIDE THE SOUTHEAST DC COMMUNITY WITH A SCHOOL THAT LEVELS THE EDUCATIONAL PLAYING FIELD FOR ITS STUDENTS, PROVIDING THEM WITH HIGH QUALITY INSTRUCTION AND RICH EDUCATIONAL OPPORTUNITIES, EQUIPPING THEM TO SUCCEED AT THE SAME HIGH LEVELS AS OTHER STUDENTS IN THE US AND IN OTHER COUNTRIES.

    Expenses $23,275,585 · Revenue $23,211,125

As filed on the 2024 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • Derrick Mashore

    CHAIR

    Total calculated
    $0
    Hours/week
    2

  • Michael Bern

    SECRETARY

    Total calculated
    $0
    Hours/week
    2

  • Evelyn Lee

    TREASURER

    Total calculated
    $0
    Hours/week
    2

  • Yesim Sayin

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    2

  • Vance Gragg

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    2

  • De-Lea Deane-Allen

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    2

  • Kendra Barlow

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    2

  • Fred Walls

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    2

  • Latoya Mathews

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    2

  • Derrick Colbert

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    2

  • Patricia Richardson - Outgoing

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    2

  • Frankie Brown - Outgoing

    VICE CHAIR

    Total calculated
    $0
    Hours/week
    2

  • Keleigh Montgomery - Outgoing

    SECRETARY

    Total calculated
    $0
    Hours/week
    2

  • William Stoetzer - Chief

    EXECUTIVE OF

    Total calculated
    $222,138
    From this org
    $202,216
    From related orgs
    $0
    Other
    $19,922
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $202,216
    Bonus
    not reported
    Other
    not reported
    Deferred
    $6,072
    Nontaxable benefits
    $13,850
    Filer's total
    $222,138

  • Ashley High - Chief Financial

    OPERATIONS O

    Total calculated
    $107,835
    From this org
    $100,221
    From related orgs
    $0
    Other
    $7,614
    Hours/week
    40

  • Benjamin Johnson - Chief

    ACADEMIC OFF

    Total calculated
    $174,350
    From this org
    $162,226
    From related orgs
    $0
    Other
    $12,124
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $162,226
    Bonus
    not reported
    Other
    not reported
    Deferred
    $4,663
    Nontaxable benefits
    $7,461
    Filer's total
    $174,350

  • Lashawndra Thornton - Chief

    TALENT OFFIC

    Total calculated
    $183,348
    From this org
    $162,220
    From related orgs
    $0
    Other
    $21,128
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $162,220
    Bonus
    not reported
    Other
    not reported
    Deferred
    $4,942
    Nontaxable benefits
    $16,186
    Filer's total
    $183,348

  • Davian Morgan - Middle School

    ACADEMY PRIN

    Total calculated
    $149,191
    From this org
    $137,602
    From related orgs
    $0
    Other
    $11,589
    Hours/week
    40

  • Katherine O'Conner - Elementary

    SCHOOL PRINC

    Total calculated
    $153,548
    From this org
    $141,723
    From related orgs
    $0
    Other
    $11,825
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $141,723
    Bonus
    not reported
    Other
    not reported
    Deferred
    $4,255
    Nontaxable benefits
    $7,570
    Filer's total
    $153,548

  • Altesha Ervin - Chief Of Student

    SUPPORT AND

    Total calculated
    $162,572
    From this org
    $148,839
    From related orgs
    $0
    Other
    $13,733
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $148,839
    Bonus
    not reported
    Other
    not reported
    Deferred
    $4,518
    Nontaxable benefits
    $9,215
    Filer's total
    $162,572

  • Ashanti Herndon - Outgoing

    CFOO

    Total calculated
    $101,396
    From this org
    $93,634
    From related orgs
    $0
    Other
    $7,762
    Hours/week
    40

Compensation is as filed in Part VII: reportable pay from this organization and from related organizations, other compensation, and hours per week. The total, marked calculated, is our sum of the three dollar columns, with a blank column counted as $0; the form itself has no total. On a Form 990-EZ the columns are Part IV's instead, and on a Form 990-PF Part VIII's — compensation, contributions to benefit plans, and expense account — and the total sums those. A Schedule J breakdown is as filed: base pay, bonus, other, deferred compensation and nontaxable benefits from this organization, with any from related organizations beside each, and the filer's own total. It is shown with the Part VII listing of the same name on the same return. The form gives no key between the two, so that pairing is ours, and is marked matched by us.

Schedule J

Answered yes

  • 3 · Compensation committee
  • 3 · Written employment contract
  • 3 · Compensation survey or study
  • 3 · Approval by the board or compensation committee

Answered no

  • 4a · Severance or change-of-control payment
  • 4b · Supplemental nonqualified retirement plan
  • 4c · Equity-based compensation arrangement
  • 5a · Pay contingent on this organization's revenues
  • 5b · Pay contingent on a related organization's revenues
  • 6a · Pay contingent on this organization's net earnings
  • 6b · Pay contingent on a related organization's net earnings
  • 7 · Other non-fixed payments
  • 8 · Paid under the initial-contract exception

Part I's answers as filed. A line not listed was left unanswered; on lines 1a and 3 that means the box was not checked.

Grants on this return

No itemized grants to organizations on this return.

Provenance

Return type
form_990
Tax year
2024
Filed
6 May 2026
IRS schema version
2024v5.0
Source object
202601349349303690

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