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← AMBITION PREPARATORY CHARTER SCHOOL

Form 990 for tax year 2023

Filed by AMBITION PREPARATORY CHARTER SCHOOL.

Totals

Total revenue
$6,791,748
Total expenses
$6,313,582
Contributions and grants received
$6,691,127
Grants paid
$0
Program service revenue
$87,671
Investment income
$0
Other revenue
$12,950
Total assets, end of year
$9,823,214
Total liabilities, end of year
$7,483,852
Net assets or fund balances, end of year
$2,339,362
Program services expenses (Part IX)
$5,557,700
Management and general expenses
$755,882
Fundraising expenses
$0
Program service expenses (Part III)
$5,557,700

Program services were 88.0% 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)

    $6,669,417

  • 1f · All other contributions, gifts and grants

    $21,710

  • 2a · Program service revenue: STUDENT ACTIVITIES AND

    total $87,671 · related or exempt $87,671

  • 6a · Gross rents

    real property $12,950

  • 6b · Less rental expenses

    real property $0

  • 6c · Rental income or loss

    real property $12,950

  • 6d · Net rental income or loss

    total $12,950 · related or exempt $12,950

Functional expenses

Part IX, the statement of functional expenses.

  • 5 · Compensation of officers, directors and key employees

    total $147,445 · program services $110,584 · management and general $36,861

  • 7 · Other salaries and wages

    total $2,909,306 · program services $2,636,789 · management and general $272,517

  • 8 · Pension plan contributions

    total $53,338 · program services $48,328 · management and general $5,010

  • 9 · Other employee benefits

    total $241,445 · program services $241,268 · management and general $177

  • 10 · Payroll taxes

    total $228,695 · program services $208,247 · management and general $20,448

  • 11c · Fees: accounting

    total $2,001 · program services $1,502 · management and general $499

  • 11g · Fees: other

    total $374,407 · program services $308,194 · management and general $66,213

  • 13 · Office expenses

    total $165,335 · program services $124,001 · management and general $41,334

  • 16 · Occupancy

    total $221,701 · program services $175,791 · management and general $45,910

  • 17 · Travel

    total $173,622 · program services $173,032 · management and general $590

  • 20 · Interest

    total $326,017 · program services $244,513 · management and general $81,504

  • 22 · Depreciation, depletion and amortization

    total $455,793 · program services $364,634 · management and general $91,159

  • 23 · Insurance

    total $123,639 · program services $99,568 · management and general $24,071

  • 24a · Other expenses: FOOD SERVICE

    total $257,953 · program services $257,953

  • 24b · Other expenses: PROFESSIONAL DEVELOPMEN

    total $225,307 · program services $168,980 · management and general $56,327

  • 24c · Other expenses: CURRICULUM MATERIALS AN

    total $187,240 · program services $187,240

  • 24d · Other expenses: SUPPLIES AND OTHER OPER

    total $99,083 · program services $88,384 · management and general $10,699

  • 24e · All other expenses

    total $121,255 · program services $118,692 · management and general $2,563

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $1,349,057 · end of year $2,223,967

  • 3 · Pledges and grants receivable

    beginning of year $779,900 · end of year $493,387

  • 9 · Prepaid expenses and deferred charges

    beginning of year $99,455 · end of year $4,009

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

    $8,385,020

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

    $1,300,582

  • 10c · Land, buildings and equipment, net

    beginning of year $6,947,025 · end of year $7,084,438

  • 15 · Other assets

    beginning of year $11,550 · end of year $17,413

  • 17 · Accounts payable and accrued expenses

    beginning of year $587,076 · end of year $896,639

  • 23 · Secured mortgages and notes payable

    beginning of year $6,738,715 · end of year $6,587,213

  • 27 · Net assets without donor restrictions

    beginning of year $1,861,196 · end of year $2,339,362

Mission and programs · 2023

Mission

THROUGH HIGH-QUALITY INSTRUCTION, INTENSIVE ACADEMIC SUPPORTS, AND HARD WORK, AMBITION PREPARATORY CHARTER SCHOOL ENSURES THAT ALL STUDENTS IN KINDERGARTEN THROUGH GRADE EIGHT HAVE ACADEMIC SKILLS AND SELF-DISCIPLINE FOR COLLEGE AND LIFE SUCCESS.

  • PUBLIC CHARTER SCHOOL

    Expenses $5,557,700 · Revenue $100,621

As filed on the 2023 return.

Listed in Part VII

  • Rochella Lee- Vincent

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Tonya Morgan

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Marcus Burger

    BOARD CHAIR

    Total calculated
    $0
    Hours/week
    1

  • Megan Stitzinger

    VICE CHAIR

    Total calculated
    $0
    Hours/week
    1

  • Torren Ballard

    SECRETARY TIL JAN 2024, TREASURER

    Total calculated
    $0
    Hours/week
    1

  • Thomas Wetzel

    TREASURER TIL JAN 2024, BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Dearchie Scott

    EXECTUTIVE DIRECTOR

    Total calculated
    $140,650
    From this org
    $133,725
    From related orgs
    $0
    Other
    $6,925
    Hours/week
    40

  • Sharon Harris

    CHIEF OF STAFF

    Total calculated
    $115,909
    From this org
    $107,517
    From related orgs
    $0
    Other
    $8,392
    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.

Grants on this return

No itemized grants to organizations on this return.

Provenance

Return type
form_990
Tax year
2023
Filed
15 February 2025
IRS schema version
2023v6.0
Source object
202500529349301410

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