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Nonprofiteer
← LITTLE SCHOLARS OF ARKANSAS FOUNDATION

Form 990 for tax year 2024

Filed by LITTLE SCHOLARS OF ARKANSAS FOUNDATION.

Totals

Total revenue
$51,313,629
Total expenses
$51,409,585
Contributions and grants received
$49,177,130
Grants paid
$0
Program service revenue
$1,468,433
Investment income
$302,744
Other revenue
$365,322
Total assets, end of year
$70,937,127
Total liabilities, end of year
$50,548,732
Net assets or fund balances, end of year
$20,388,395
Program services expenses (Part IX)
$42,456,835
Management and general expenses
$8,952,750
Fundraising expenses
$0
Program service expenses (Part III)
$42,456,835

Program services were 82.6% 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)

    $47,562,947

  • 1f · All other contributions, gifts and grants

    $1,614,183

  • 2a · Program service revenue: MEDICAID REIMBURSEMENT

    total $643,390 · related or exempt $643,390

  • 2b · Program service revenue: ACTIVITY REVENUES

    total $450,854 · related or exempt $450,854

  • 2c · Program service revenue: MEAL SALES

    total $338,732 · related or exempt $338,732

  • 2d · Program service revenue: MISCELLANEOUS

    total $35,457 · related or exempt $35,457

  • 3 · Investment income

    total $334,810 · excluded $334,810

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

    other assets $32,066

  • 7c · Gain or loss

    other assets -$32,066

  • 7d · Net gain or loss

    total -$32,066 · excluded -$32,066

  • 11a · Other revenue: IRS REBATE - TAX EXEMPT BONDS

    total $365,322 · related or exempt $365,322

  • 11e · Other revenue, total

    $365,322

Functional expenses

Part IX, the statement of functional expenses.

  • 5 · Compensation of officers, directors and key employees

    total $445,946 · management and general $445,946

  • 7 · Other salaries and wages

    total $27,915,600 · program services $23,833,394 · management and general $4,082,206

  • 8 · Pension plan contributions

    total $4,107,778 · program services $3,503,543 · management and general $604,235

  • 9 · Other employee benefits

    total $1,814,422 · program services $741,887 · management and general $1,072,535

  • 10 · Payroll taxes

    total $2,064,116 · program services $1,737,741 · management and general $326,375

  • 11a · Fees: management

    total $21,245 · program services $21,245

  • 12 · Advertising and promotion

    total $116,774 · program services $2,853 · management and general $113,921

  • 13 · Office expenses

    total $191,085 · program services $35,970 · management and general $155,115

  • 16 · Occupancy

    total $3,139,596 · program services $3,134,246 · management and general $5,350

  • 17 · Travel

    total $67,121 · program services $18,790 · management and general $48,331

  • 20 · Interest

    total $1,864,318 · program services $1,864,318

  • 22 · Depreciation, depletion and amortization

    total $1,925,683 · program services $845,171 · management and general $1,080,512

  • 23 · Insurance

    total $441,697 · program services $441,697

  • 24a · Other expenses: STUDENT SUPPORT SERVICE

    total $1,452,703 · program services $1,306,242 · management and general $146,461

  • 24b · Other expenses: SUPPLIES

    total $1,288,229 · program services $1,154,787 · management and general $133,442

  • 24c · Other expenses: FOOD

    total $1,273,015 · program services $1,273,015

  • 24d · Other expenses: INFORMATION TECHNOLOGY

    total $986,422 · program services $811,427 · management and general $174,995

  • 24e · All other expenses

    total $2,293,835 · program services $1,730,509 · management and general $563,326

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $10,308,800 · end of year $12,416,107

  • 2 · Savings and temporary cash investments

    beginning of year $2,947,611 · end of year $1,847,797

  • 4 · Accounts receivable

    beginning of year $918,596 · end of year $3,148,600

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

    $60,365,010

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

    $13,198,960

  • 10c · Land, buildings and equipment, net

    beginning of year $48,738,478 · end of year $47,166,050

  • 14 · Intangible assets

    beginning of year $600,387 · end of year $532,958

  • 15 · Other assets

    beginning of year $5,962,400 · end of year $5,825,615

  • 17 · Accounts payable and accrued expenses

    beginning of year $2,131,450 · end of year $2,210,348

  • 19 · Deferred revenue

    beginning of year $19,167 · end of year $9,167

  • 20 · Tax-exempt bond liabilities

    beginning of year $24,555,000 · end of year $23,740,000

  • 24 · Unsecured notes and loans payable

    beginning of year $16,983,987 · end of year $16,696,535

  • 25 · Other liabilities

    beginning of year $8,097,910 · end of year $7,892,682

  • 27 · Net assets without donor restrictions

    beginning of year $17,319,704 · end of year $19,015,130

  • 28 · Net assets with donor restrictions

    beginning of year $369,054 · end of year $1,373,265

Mission and programs · 2024

Mission

THE MISSION OF LISA ACADEMY IS TO PROVIDE AN ACADEMICALLY RIGOROUS COLLEGE PREPARATORY PROGRAM, IN PARTNERSHIP WITH STUDENTS, FAMILIES, AND THE COMMUNITY, AND GUIDE ALL STUDENTS IN GAINING KNOWLDEGE, SKILLS, AND THE ATTITUDE NECESSARY TO DIRECT THEIR LIVES, IMPROVE A DIVERSE SOCIETY, AND EXCEL IN A CHANGING WORLD BY PROVIDING DYNAMIC, RESOURCE-RICH LEARNING ENVIRONMENTS.

  • DURING THE YEAR, THE ACADEMY PROVIDED AN ACEDEMICALLY RIGOROUS COLLEGE PREPARATORY PROGRAM FOR STUDENTS IN GRADES K THROUGH 12 SEEKING TO EXPLORE THEIR FULL POTENTIAL AS FUTURE PROFESSIONALS.

    Expenses $42,456,835 · Revenue $1,468,433

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

Listed in Part VII

  • Cynthia Dawson

    PRESIDENT

    Total calculated
    $0
    Hours/week
    1

  • Dr Emre Celebi

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Erica Miller

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Dr Erhan Ararat

    VICE PRESIDENT

    Total calculated
    $0
    Hours/week
    1

  • Dr Tolga Ensari

    SECRETARY

    Total calculated
    $0
    Hours/week
    1

  • Fatih Bogrek

    SUPERINTENDENT

    Total calculated
    $187,996
    From this org
    $160,030
    From related orgs
    $0
    Other
    $27,966
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $160,030
    Bonus
    $0
    Other
    $0
    Deferred
    $24,005
    Nontaxable benefits
    $3,961
    Filer's total
    $187,996

  • Necati Sahin

    CFO

    Total calculated
    $129,804
    From this org
    $109,577
    From related orgs
    $0
    Other
    $20,227
    Hours/week
    40

  • Hasan Sazci

    ASST. SUPERINDENDENT

    Total calculated
    $130,645
    From this org
    $110,209
    From related orgs
    $0
    Other
    $20,436
    Hours/week
    40

  • Bethany Ratermann

    EMPLOYEE

    Total calculated
    $121,430
    From this org
    $102,202
    From related orgs
    $0
    Other
    $19,228
    Hours/week
    40

  • Emrah Turkmenoglu

    EMPLOYEE

    Total calculated
    $123,133
    From this org
    $103,682
    From related orgs
    $0
    Other
    $19,451
    Hours/week
    40

  • Muammer Guven

    EMPLOYEE

    Total calculated
    $127,527
    From this org
    $107,498
    From related orgs
    $0
    Other
    $20,029
    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

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.

Taxable family on this return

Schedule R Parts I, III and IV, as filed. These record ownership and control, not shared board members or money moved.

Disregarded entities

Part I: entities that legally are the filer and file no return of their own.

  • LITTLE SCHOLARS OF ARKANSAS LLC

    INVESTMENT · AR · income $344,602 · assets $46,813,171

    Directly controlled by FOUNDATION

Provenance

Return type
form_990
Tax year
2024
Filed
15 May 2026
IRS schema version
2024v5.5
Source object
202611359349314021

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