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← ASU PREPARATORY ACADEMY

Form 990 for tax year 2024

Filed by ASU PREPARATORY ACADEMY.

Totals

Total revenue
$82,625,017
Total expenses
$87,114,925
Contributions and grants received
$80,994,157
Grants paid
$0
Program service revenue
$909,213
Investment income
$0
Other revenue
$721,647
Total assets, end of year
$38,533,671
Total liabilities, end of year
$17,587,663
Net assets or fund balances, end of year
$20,946,008
Program services expenses (Part IX)
$60,229,172
Management and general expenses
$26,885,753
Fundraising expenses
$0
Program service expenses (Part III)
$60,229,172

Program services were 69.1% 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)

    $77,114,089

  • 1f · All other contributions, gifts and grants

    $3,880,068

  • 2a · Program service revenue: STUDENT ACTIVITIES

    total $484,571 · related or exempt $484,571

  • 2b · Program service revenue: CHARGES FOR SERVICES

    total $359,740 · related or exempt $359,740

  • 2c · Program service revenue: TAX CREDIT CONTRIBUTIONS

    total $64,902 · related or exempt $64,902

  • 11a · Other revenue: MISCELLANEOUS

    total $721,647 · related or exempt $721,647

  • 11e · Other revenue, total

    $721,647

Functional expenses

Part IX, the statement of functional expenses.

  • 5 · Compensation of officers, directors and key employees

    total $868,473 · program services $694,857 · management and general $173,616

  • 7 · Other salaries and wages

    total $43,418,802 · program services $34,738,986 · management and general $8,679,816

  • 8 · Pension plan contributions

    total $5,345,257 · program services $4,265,515 · management and general $1,079,742

  • 9 · Other employee benefits

    total $4,655,618 · program services $3,457,949 · management and general $1,197,669

  • 10 · Payroll taxes

    total $3,418,090 · program services $2,636,566 · management and general $781,524

  • 11b · Fees: legal

    total $118,742 · management and general $118,742

  • 11c · Fees: accounting

    total $60,000 · management and general $60,000

  • 11g · Fees: other

    total $6,772,415 · program services $3,931,134 · management and general $2,841,281

  • 13 · Office expenses

    total $3,861,642 · program services $3,030,305 · management and general $831,337

  • 14 · Information technology

    total $1,865,283 · program services $221,804 · management and general $1,643,479

  • 16 · Occupancy

    total $4,492,419 · program services $180,086 · management and general $4,312,333

  • 17 · Travel

    total $1,049,080 · program services $619,420 · management and general $429,660

  • 22 · Depreciation, depletion and amortization

    total $4,895,646 · program services $4,627,656 · management and general $267,990

  • 23 · Insurance

    total $292,211 · management and general $292,211

  • 24a · Other expenses: MISCELLANEOUS

    total $2,012,540 · program services $1,764,924 · management and general $247,616

  • 24b · Other expenses: REPAIR AND MAINTENENCE

    total $1,350,562 · management and general $1,350,562

  • 24c · Other expenses: FOOD SERVICE

    total $1,118,323 · management and general $1,118,323

  • 24d · Other expenses: UTILITIES

    total $845,042 · program services $53 · management and general $844,989

  • 24e · All other expenses

    total $674,780 · program services $59,917 · management and general $614,863

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $7,368,183 · end of year $5,034,324

  • 2 · Savings and temporary cash investments

    beginning of year $5,000,000

  • 3 · Pledges and grants receivable

    beginning of year $1,646,597 · end of year $3,812,211

  • 4 · Accounts receivable

    beginning of year $492,437 · end of year $1,189,638

  • 9 · Prepaid expenses and deferred charges

    beginning of year $732,491 · end of year $523,163

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

    $35,201,076

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

    $16,782,691

  • 10c · Land, buildings and equipment, net

    beginning of year $19,242,921 · end of year $18,418,385

  • 15 · Other assets

    beginning of year $11,391,992 · end of year $9,555,950

  • 17 · Accounts payable and accrued expenses

    beginning of year $7,651,485 · end of year $8,098,402

  • 19 · Deferred revenue

    beginning of year $1,412,222 · end of year $35,831

  • 25 · Other liabilities

    beginning of year $11,374,998 · end of year $9,453,430

  • 27 · Net assets without donor restrictions

    beginning of year $25,398,987 · end of year $20,687,357

  • 28 · Net assets with donor restrictions

    beginning of year $36,929 · end of year $258,651

Mission and programs · 2024

Mission

OUR MISSION IS TO AFFORD STUDENTS AN OPTIMUM ENVIRONMENT FOR LEARNING, HELP THEM ACHIEVE THEIR POTENTIAL AND ENSURE THE APPROPRIATE LEVEL OF COLLEGE READINESS.

  • EDUCATION - THE SCHOOL SERVED APPROXIMATELY 7,263 STUDENTS IN GRADES PRE- SCHOOL THROUGH 12 FOR THE FISCAL YEAR

    Expenses $60,229,172 · Revenue $909,213

As filed on the 2024 return.

Listed in Part VII

  • Phillip Netolicky

    CFO

    Total calculated
    $266,732
    From this org
    $0
    From related orgs
    $241,752
    Other
    $24,980

    Schedule J breakdown matched by us

    Base
    not reported + $241,752 related
    Bonus
    not reported
    Other
    not reported
    Deferred
    not reported + $16,853 related
    Nontaxable benefits
    not reported + $8,127 related
    Filer's total
    not reported + $266,732 related

  • Lisa Edgar

    CHIEF PTNRSH

    Total calculated
    $346,000
    From this org
    $300,378
    From related orgs
    $0
    Other
    $45,622
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $300,378
    Bonus
    not reported
    Other
    not reported
    Deferred
    $36,895
    Nontaxable benefits
    $8,727
    Filer's total
    $346,000

  • David Timothy Sudarma

    CHIEF TECH O

    Total calculated
    $225,481
    From this org
    $193,048
    From related orgs
    $0
    Other
    $32,433
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $193,048
    Bonus
    not reported
    Other
    not reported
    Deferred
    $23,706
    Nontaxable benefits
    $8,727
    Filer's total
    $225,481

  • Leah Lommel

    CHIEF ADMIN

    Total calculated
    $296,992
    From this org
    $257,272
    From related orgs
    $0
    Other
    $39,720
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $257,272
    Bonus
    not reported
    Other
    not reported
    Deferred
    $31,593
    Nontaxable benefits
    $8,127
    Filer's total
    $296,992

  • George Dean

    CHAIRPERSON

    Total calculated
    $0
    Hours/week
    2

  • Jose Cardenas

    VICE CHAIRPE

    Total calculated
    $0
    Hours/week
    2

  • Amy McGrath

    TREASURER

    Total calculated
    $0
    Hours/week
    2

  • Julie Young

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • Katie Ratlief

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • Jill Rogier

    HEAD OF SCHO

    Total calculated
    $205,470
    From this org
    $175,926
    From related orgs
    $0
    Other
    $29,544
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $175,926
    Bonus
    not reported
    Other
    not reported
    Deferred
    $21,603
    Nontaxable benefits
    $7,941
    Filer's total
    $205,470

  • Elizabeth Fowler

    HEAD IMMERSI

    Total calculated
    $203,251
    From this org
    $173,950
    From related orgs
    $0
    Other
    $29,301
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $173,950
    Bonus
    not reported
    Other
    not reported
    Deferred
    $21,360
    Nontaxable benefits
    $7,941
    Filer's total
    $203,251

  • Corey Woods

    ED COMMUNITY

    Total calculated
    $187,626
    From this org
    $160,936
    From related orgs
    $0
    Other
    $26,690
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $160,936
    Bonus
    not reported
    Other
    not reported
    Deferred
    $19,763
    Nontaxable benefits
    $6,927
    Filer's total
    $187,626

  • Christina Cleugh

    DIR NATIONAL

    Total calculated
    $174,866
    From this org
    $155,466
    From related orgs
    $0
    Other
    $19,400
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $155,466
    Bonus
    not reported
    Other
    not reported
    Deferred
    $19,095
    Nontaxable benefits
    $305
    Filer's total
    $174,866

  • Teresa King

    DIR PTNRSHP

    Total calculated
    $191,166
    From this org
    $163,184
    From related orgs
    $0
    Other
    $27,982
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $163,184
    Bonus
    not reported
    Other
    not reported
    Deferred
    $20,041
    Nontaxable benefits
    $7,941
    Filer's total
    $191,166

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 · Written employment contract
  • 3 · Compensation survey or study
  • 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

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.

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.

  • GARY K HERBERGER YOUNG SCHOLARS ACA

    SCHOOL · AZ

    Directly controlled by ASU PREP

Provenance

Return type
form_990
Tax year
2024
Filed
10 April 2026
IRS schema version
2024v5.0
Source object
202601039349300835

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