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Nonprofiteer
← ACADEMY PREP CENTER OF LAKELAND INC

Form 990 for tax year 2022

Filed by ACADEMY PREP CENTER OF LAKELAND INC.

Totals

Total revenue
$3,406,742
Total expenses
$3,017,725
Contributions and grants received
$2,518,795
Grants paid
$0
Program service revenue
$795,419
Investment income
$0
Other revenue
$92,528
Total assets, end of year
$1,234,942
Total liabilities, end of year
$134,065
Net assets or fund balances, end of year
$1,100,877
Program services expenses (Part IX)
$2,495,646
Management and general expenses
$296,548
Fundraising expenses
$225,531
Program service expenses (Part III)
$2,495,646

Program services were 82.7% 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

    $59,825

  • 1e · Government grants (contributions)

    $117,689

  • 1f · All other contributions, gifts and grants

    $2,341,281

  • 2a · Program service revenue: TUITION - SCHOLARSHIP

    total $760,966 · related or exempt $760,966

  • 2b · Program service revenue: ACTIVITY FEE

    total $23,293 · related or exempt $23,293

  • 2f · All other program service revenue

    total $11,160 · related or exempt $11,160

  • 8a · Fundraising events: gross income

    $99,530

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

    $59,825

  • 8b · Fundraising events: direct expenses

    $7,002

  • 8c · Net income from fundraising events

    total $92,528 · excluded $92,528

Functional expenses

Part IX, the statement of functional expenses.

  • 5 · Compensation of officers, directors and key employees

    total $90,723 · program services $70,500 · management and general $12,035 · fundraising $8,188

  • 7 · Other salaries and wages

    total $1,579,296 · program services $1,263,690 · management and general $168,838 · fundraising $146,768

  • 8 · Pension plan contributions

    total $31,472 · program services $24,559 · management and general $4,220 · fundraising $2,693

  • 9 · Other employee benefits

    total $226,462 · program services $176,717 · management and general $30,367 · fundraising $19,378

  • 10 · Payroll taxes

    total $159,648 · program services $127,006 · management and general $18,229 · fundraising $14,413

  • 11b · Fees: legal

    total $13,500 · management and general $13,500

  • 11g · Fees: other

    total $112,386 · program services $87,502 · fundraising $24,884

  • 12 · Advertising and promotion

    total $1,073 · management and general $723 · fundraising $350

  • 13 · Office expenses

    total $123,974 · program services $72,291 · management and general $43,211 · fundraising $8,472

  • 16 · Occupancy

    total $77,807 · program services $77,807

  • 17 · Travel

    total $18,349 · program services $18,302 · management and general $47

  • 22 · Depreciation, depletion and amortization

    total $71,166 · program services $71,166

  • 23 · Insurance

    total $56,751 · program services $56,751

  • 24a · Other expenses: STUDENT ACTIVITIES

    total $154,519 · program services $154,519

  • 24b · Other expenses: REPAIRS AND MAINTENANCE

    total $112,177 · program services $112,177

  • 24c · Other expenses: STUDENT MEALS

    total $84,272 · program services $84,272

  • 24d · Other expenses: GUIDANCE AND EVALUATION

    total $23,673 · program services $23,673

  • 24e · All other expenses

    total $80,477 · program services $74,714 · management and general $5,378 · fundraising $385

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $514,143 · end of year $811,478

  • 3 · Pledges and grants receivable

    end of year $4,401

  • 4 · Accounts receivable

    beginning of year $19,235 · end of year $1,484

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

    $472,484

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

    $194,623

  • 10c · Land, buildings and equipment, net

    beginning of year $207,889 · end of year $277,861

  • 12 · Investments: other securities

    beginning of year $30,418 · end of year $130,542

  • 15 · Other assets

    beginning of year $8,099 · end of year $9,176

  • 17 · Accounts payable and accrued expenses

    beginning of year $61,824 · end of year $116,315

  • 25 · Other liabilities

    beginning of year $7,432 · end of year $17,750

  • 27 · Net assets without donor restrictions

    beginning of year $699,133 · end of year $339,511

  • 28 · Net assets with donor restrictions

    beginning of year $11,395 · end of year $761,366

Mission and programs · 2022

Mission

TO INSPIRE AND EMPOWER STUDENTS QUALIFYING FOR NEED-BASED SCHOLARSHIPS TO BECOME FUTURE COMMUNITY LEADERS THROUGH A RIGOROUS MIDDLE SCHOOL PROGRAM COUPLED WITH ONGOING GRADUATE SUPPORT.

  • SEE SCHEDULE O.

    Expenses $2,495,646 · Revenue $795,419

  • SEE SCHEDULE O.

As filed on the 2022 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • Nick Barnett

    CHAIR

    Total calculated
    $0
    Hours/week
    2.5

  • Natali Reyes

    VICE CHAIR

    Total calculated
    $0
    Hours/week
    2.5

  • William Vass

    TREASURER

    Total calculated
    $0
    Hours/week
    2.5

  • Gregory Fancelli

    TRUSTEE

    Total calculated
    $0
    Hours/week
    2.5

  • Stacy Walsh

    TRUSTEE

    Total calculated
    $0
    Hours/week
    2.5

  • Marianne Parsons

    TRUSTEE

    Total calculated
    $0
    Hours/week
    2.5

  • Jason Rodda

    TRUSTEE

    Total calculated
    $0
    Hours/week
    2.5

  • Tim Mitchell

    TRUSTEE

    Total calculated
    $0
    Hours/week
    2.5

  • Paul L Whiting Sr

    TRUSTEE

    Total calculated
    $0
    Hours/week
    2.5 + 7 related

  • Lincoln Tamayo

    HEAD OF SCHOOL

    Total calculated
    $217,852
    From this org
    $90,723
    From related orgs
    $127,129
    Other
    $0
    Hours/week
    40 + 5 related

    Schedule J breakdown matched by us

    Base
    $90,723 + $127,129 related
    Bonus
    $0
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $0
    Filer's total
    $90,723 + $127,129 related

  • Terri Scarcelli

    CFO

    Total calculated
    $95,652
    From this org
    $0
    From related orgs
    $95,652
    Other
    $0
    Hours/week
    5 + 40 related

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 · 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

The filer's explanations (Part III)

PART I, LINE 3
COMPENSATION OF THE HEAD OF SCHOOL IS APPROVED BY THE BOARD AND/OR ITS COMPENSATION COMMITTEE.

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.

Related organizations on this return

Schedule R Part II: tax-exempt organizations related to the filer by control. It does not record shared board members or money.

Provenance

Return type
form_990
Tax year
2022
Filed
15 January 2024
IRS schema version
2022v5.0
Source object
202440169349300334

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