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Nonprofiteer
← STEM PREPARATORY ACADEMY

Form 990 for tax year 2023

Filed by STEM PREPARATORY ACADEMY.

This return was superseded by a later amendment. matched by us It is kept because history is preserved rather than replaced.

What the amendment changed

Compared with the latest return for 2023 , filed 2 May 2025. matched by us Only the Part I totals and the names listed in Part VII are compared. We relate returns by organization, tax year and form, and order them by each return's own timestamp; the filer's own "amended return" checkbox is a separate fact.

Both are the same on the two returns, so the amendment changed something else.

Totals

Total revenue
$19,682,192
Total expenses
$17,981,624
Contributions and grants received
$19,194,997
Grants paid
$0
Program service revenue
$140,015
Investment income
$347,180
Other revenue
$0
Total assets, end of year
$22,706,350
Total liabilities, end of year
$10,844,177
Net assets or fund balances, end of year
$11,862,173
Program services expenses (Part IX)
$9,941,644
Management and general expenses
$8,039,980
Fundraising expenses
$0
Program service expenses (Part III)
$9,941,644

Program services were 55.3% 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.

  • 1e · Government grants (contributions)

    $18,976,291

  • 1f · All other contributions, gifts and grants

    $218,706

  • 2a · Program service revenue: MISCELLANEOUS

    total $126,094 · related or exempt $126,094

  • 2b · Program service revenue: PROGRAM SERVICE FEES

    total $13,921 · related or exempt $13,921

  • 3 · Investment income

    total $347,180 · related or exempt $347,180

Functional expenses

Part IX, the statement of functional expenses.

  • 6 · Compensation of disqualified persons

    total $10,687,686 · program services $5,670,746 · management and general $5,016,940

  • 11b · Fees: legal

    total $1,326,251 · management and general $1,326,251

  • 16 · Occupancy

    total $1,261,588 · program services $1,009,270 · management and general $252,318

  • 17 · Travel

    total $1,549,934 · program services $1,549,934

  • 20 · Interest

    total $427,797 · management and general $427,797

  • 22 · Depreciation, depletion and amortization

    total $1,524,408 · program services $1,219,526 · management and general $304,882

  • 24a · Other expenses: OFFICE EXPENSE

    total $400,097 · management and general $400,097

  • 24b · Other expenses: STAFF DEVELOPMENT

    total $241,362 · program services $156,193 · management and general $85,169

  • 24c · Other expenses: ORGANIZATIONAL DEVELOPM

    total $226,526 · management and general $226,526

  • 24d · Other expenses: INSTRUCTIONAL MATERIALS

    total $204,342 · program services $204,342

  • 24e · All other expenses

    total $131,633 · program services $131,633

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $7,929,024 · end of year $10,279,149

  • 4 · Accounts receivable

    beginning of year $525,000 · end of year $170,243

  • 9 · Prepaid expenses and deferred charges

    beginning of year $2,354,444 · end of year $2,646,105

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

    $16,219,157

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

    $8,586,397

  • 10c · Land, buildings and equipment, net

    beginning of year $8,115,656 · end of year $7,632,760

  • 15 · Other assets

    beginning of year $2,151,475 · end of year $1,978,093

  • 17 · Accounts payable and accrued expenses

    beginning of year $1,532,820 · end of year $2,006,883

  • 23 · Secured mortgages and notes payable

    beginning of year $6,972,002 · end of year $6,695,278

  • 25 · Other liabilities

    beginning of year $2,409,172 · end of year $2,142,016

  • 27 · Net assets without donor restrictions

    beginning of year $9,289,189 · end of year $10,152,064

  • 28 · Net assets with donor restrictions

    beginning of year $872,416 · end of year $1,012,543

Mission and programs · 2023

Mission

TO PROVIDE A COLLEGE PREPARATORY EDUCATION WITH AN INTEGRATED FOCUS ON SCIENCE, TECHNOLOGY, ENGINEERING, AND MATHEMATICS, TO FIFTH THROUGH TWELFTH GRADE STUDENTS IN SOUTH NASHVILLE.

  • STEM PREPARATORY ACADEMY PROVIDES A COLLEGE PREPARATORY EDUCATION WITH AN INTEGRATED FOCUS ON SCIENCE, TECHNOLOGY, ENGINEERING AND MATHEMATICS (STEM). FOR THE CURRENT SCHOOL YEAR, STEM SERVED OVER 1,000 STUDENTS WITHIN OUR TWO SCHOOLS, STEM PREP MIDDLE (5-8) AND STEM PREP HIGH (9-12) WITH THE GOAL OF INCREASING THE NUMBER OF UNDERREPRESENTED STUDENTS WHO (1) SUCCESSFULLY GRADUATE FOR THE MOST COMPETITIVE UNIVERSITIES IN THE COUNTRY, AND (2) BECOME LEADERS OF THE 21ST CENTURY. STEM CONTINUES TO OUTPERFORM PEER SCHOOLS THROUGHOUT THE STATE ACROSS ALL SUBJECT AREAS. SINCE OPENING ITS DOORS IN JULY 2011, STEM HAS BEEN HONORED WITH NUMEROUS AWARDS FOR OUTSTANDING STUDENT AND TEACHER PERFORMANCE.IN MAY 2024, STEM GRADUATED ITS SIXTH HIGH SCHOOL CLASS, COMPRISED PREDOMINANTLY OF STUDENTS WHO HAVE BEEN CONTINUOUSLY ENROLLED AT STEM SINCE MIDDLE SCHOOL. THE GRADUATING CLASS EARNED $3 MILLION IN COLLEGE SCHOLARSHIPS, AND 100 PERCENT OF GRADUATES WERE ACCEPTED ONTO POST-SECONDARY INSTITUTIONS. FURTHER, THROUGH STEM'S DUAL CREDIT PARTNERSHIP, THE GRADUATING CLASS EARNED OVER 200 COLLEGE CREDITS. STUDENTS ENROLLED IN STEM'S HEALTH SCIENCES PATHWAY COMPLETED REQUISITE COURSEWORK AND PRACTICE, PER THE TENNESSEE BOARD OF HEALTH AND THE DEPARTMENT OF EDUCATION, FOR THE CERTIFIED MEDICAL ASSISTANT (CMA) LICENSE.

    Expenses $9,941,644 · Revenue $487,195

As filed on the 2023 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • DR MARILYN ODOM

    BOARD DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • MOHAMMED SHUKRI

    BOARD DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • MARTY SZEIGIS

    BOARD DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • MAREES CHOPPIN

    TREASURER

    Total calculated
    $0
    Hours/week
    2

  • MARA RIVERA

    BOARD DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • ANNE DAVIS

    SECRETARY

    Total calculated
    $0
    Hours/week
    2

  • KIM THOMASON

    BOARD CHAIR

    Total calculated
    $0
    Hours/week
    2

  • DEMETRIUS GREER

    CEO & COO

    Total calculated
    $165,697
    From this org
    $165,697
    From related orgs
    $0
    Other
    $0
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $165,697
    Bonus
    $0
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $0
    Filer's total
    $165,697

  • LATRINA JOHNSON-BROWN

    HCE

    Total calculated
    $126,280
    From this org
    $126,280
    From related orgs
    $0
    Other
    $0
    Hours/week
    40

  • CHARLES WILLIAMS

    DIR OF FINANCE & OPERATION

    Total calculated
    $145,588
    From this org
    $145,588
    From related orgs
    $0
    Other
    $0
    Hours/week
    40

  • JANYESHA BROWN

    HCE

    Total calculated
    $120,493
    From this org
    $120,493
    From related orgs
    $0
    Other
    $0
    Hours/week
    40

  • DR KRISTIN MCGRANER

    FORMER EXECUTIVE DIRECTOR

    Total calculated
    $178,500
    From this org
    $178,500
    From related orgs
    $0
    Other
    $0
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $178,500
    Bonus
    $0
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $0
    Filer's total
    $178,500

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

None.

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
2023
Filed
2 May 2025
IRS schema version
2023v6.0
Source object
202521229349302022

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