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Nonprofiteer
← STEM PREPARATORY ACADEMY

Form 990 for tax year 2022

Filed by STEM PREPARATORY ACADEMY.

Totals

Total revenue
$18,101,643
Total expenses
$17,155,028
Contributions and grants received
$17,938,567
Grants paid
$0
Program service revenue
$163,076
Investment income
$0
Other revenue
$0
Total assets, end of year
$21,075,599
Total liabilities, end of year
$10,913,994
Net assets or fund balances, end of year
$10,161,605
Program services expenses (Part IX)
$10,160,541
Management and general expenses
$6,994,487
Fundraising expenses
$0
Program service expenses (Part III)
$10,160,541

Program services were 59.2% 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)

    $17,691,201

  • 1f · All other contributions, gifts and grants

    $247,366

  • 2a · Program service revenue: PROGRAM SERVICE FEES

    total $131,973 · related or exempt $131,973

  • 2b · Program service revenue: MISCELLANEOUS

    total $31,103 · related or exempt $31,103

Functional expenses

Part IX, the statement of functional expenses.

  • 5 · Compensation of officers, directors and key employees

    total $221,687 · management and general $221,687

  • 7 · Other salaries and wages

    total $7,952,015 · program services $4,706,625 · management and general $3,245,390

  • 8 · Pension plan contributions

    total $455,056 · program services $262,033 · management and general $193,023

  • 9 · Other employee benefits

    total $1,010,625 · program services $581,943 · management and general $428,682

  • 10 · Payroll taxes

    total $586,048 · program services $337,461 · management and general $248,587

  • 11c · Fees: accounting

    total $1,099,015 · management and general $1,099,015

  • 11g · Fees: other

    total $145,598 · program services $145,598

  • 13 · Office expenses

    total $403,251 · management and general $403,251

  • 16 · Occupancy

    total $1,321,175 · program services $1,056,940 · management and general $264,235

  • 17 · Travel

    total $1,413,721 · program services $1,413,721

  • 20 · Interest

    total $447,838 · management and general $447,838

  • 22 · Depreciation, depletion and amortization

    total $1,508,572 · program services $1,233,254 · management and general $275,318

  • 24a · Other expenses: INSTRUCTIONAL MATERIALS

    total $240,233 · program services $240,233

  • 24b · Other expenses: STAFF DEVELOPMENT

    total $215,709 · program services $182,733 · management and general $32,976

  • 24c · Other expenses: ORGANIZATIONAL DEVELOPM

    total $134,485 · management and general $134,485

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $6,199,882 · end of year $7,929,024

  • 4 · Accounts receivable

    beginning of year $1,286,239 · end of year $525,000

  • 9 · Prepaid expenses and deferred charges

    beginning of year $3,611,082 · end of year $2,354,444

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

    $15,422,501

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

    $7,306,845

  • 10c · Land, buildings and equipment, net

    beginning of year $8,453,517 · end of year $8,115,656

  • 15 · Other assets

    beginning of year $2,336,005 · end of year $2,151,475

  • 17 · Accounts payable and accrued expenses

    beginning of year $735,999 · end of year $1,532,820

  • 23 · Secured mortgages and notes payable

    beginning of year $7,023,851 · end of year $6,972,002

  • 25 · Other liabilities

    beginning of year $4,911,885 · end of year $2,409,172

  • 27 · Net assets without donor restrictions

    beginning of year $6,725,878 · end of year $9,289,189

  • 28 · Net assets with donor restrictions

    beginning of year $2,489,112 · end of year $872,416

Mission and programs · 2022

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 SCHIENCE, 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 2023, STEM GRADUATED ITS FIFTH HIGH SCHOOL CLASS, COMPRISED PREDOMINANTLY OF STUDENTS WHO HAVE BEEN CONTINUOUSLY ENROLLED AT STEM SINCE MIDDLE SCHOOL. THE GRADUATING CLASS EARNED $4.7 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 $10,160,541 · Revenue $163,076

As filed on the 2022 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 CHAIR

    Total calculated
    $0
    Hours/week
    2

  • Dr Julie Hudson

    SECRETARY

    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

    BOARD DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • Dr Kristin McGraner

    EXECUTIVE DIRECTOR

    Total calculated
    $253,296
    From this org
    $221,687
    From related orgs
    $0
    Other
    $31,609
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $221,687
    Bonus
    $0
    Other
    $0
    Deferred
    $19,265
    Nontaxable benefits
    $12,344
    Filer's total
    $253,296

  • Demetrius Greer

    HCE

    Total calculated
    $138,795
    From this org
    $116,117
    From related orgs
    $0
    Other
    $22,678
    Hours/week
    40

  • Latrina Johnson-Brown

    HCE

    Total calculated
    $121,797
    From this org
    $108,000
    From related orgs
    $0
    Other
    $13,797
    Hours/week
    40

  • Elizabeth Malugen

    HCE

    Total calculated
    $136,298
    From this org
    $117,411
    From related orgs
    $0
    Other
    $18,887
    Hours/week
    40

  • Charles Williams

    DIR OF FINANCE & OPERATIONS

    Total calculated
    $152,564
    From this org
    $118,616
    From related orgs
    $0
    Other
    $33,948
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $118,616
    Bonus
    $0
    Other
    $0
    Deferred
    $14,774
    Nontaxable benefits
    $19,174
    Filer's total
    $152,564

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
2022
Filed
15 May 2024
IRS schema version
2022v5.0
Source object
202411369349307636

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