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← LITTLE SCHOLARS OF ARKANSAS FOUNDATION

Form 990 for tax year 2022

Filed by LITTLE SCHOLARS OF ARKANSAS FOUNDATION.

Totals

Total revenue
$42,349,077
Total expenses
$44,938,450
Contributions and grants received
$40,854,767
Grants paid
$0
Program service revenue
$1,074,611
Investment income
$49,794
Other revenue
$369,905
Total assets, end of year
$72,152,155
Total liabilities, end of year
$53,143,922
Net assets or fund balances, end of year
$19,008,233
Program services expenses (Part IX)
$35,308,322
Management and general expenses
$9,630,128
Fundraising expenses
$0
Program service expenses (Part III)
$35,308,322

Program services were 78.6% 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)

    $40,047,414

  • 1f · All other contributions, gifts and grants

    $807,353

  • 2a · Program service revenue: MEDICAID REIMBURSEMENT

    total $548,089 · related or exempt $548,089

  • 2b · Program service revenue: ACTIVITY REVENUES

    total $323,077 · related or exempt $323,077

  • 2c · Program service revenue: MEAL SALES

    total $174,306 · related or exempt $174,306

  • 2d · Program service revenue: MISCELLANEOUS

    total $29,139 · related or exempt $29,139

  • 3 · Investment income

    total $202,092 · excluded $202,092

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

    other assets $152,298

  • 7c · Gain or loss

    other assets -$152,298

  • 7d · Net gain or loss

    total -$152,298 · excluded -$152,298

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

    total $369,905 · related or exempt $369,905

  • 11e · Other revenue, total

    $369,905

Functional expenses

Part IX, the statement of functional expenses.

  • 5 · Compensation of officers, directors and key employees

    total $380,544 · management and general $380,544

  • 7 · Other salaries and wages

    total $22,858,573 · program services $18,300,236 · management and general $4,558,337

  • 8 · Pension plan contributions

    total $3,405,836 · program services $2,756,424 · management and general $649,412

  • 9 · Other employee benefits

    total $1,923,548 · program services $939,024 · management and general $984,524

  • 10 · Payroll taxes

    total $1,711,300 · program services $1,349,807 · management and general $361,493

  • 11b · Fees: legal

    total $161,249 · management and general $161,249

  • 11c · Fees: accounting

    total $83,230 · management and general $83,230

  • 11g · Fees: other

    total $239,083 · program services $15,556 · management and general $223,527

  • 12 · Advertising and promotion

    total $463,433 · management and general $463,433

  • 13 · Office expenses

    total $31,840 · program services $250 · management and general $31,590

  • 14 · Information technology

    total $963,751 · program services $738,694 · management and general $225,057

  • 16 · Occupancy

    total $2,976,963 · program services $2,976,963

  • 17 · Travel

    total $75,310 · program services $6,808 · management and general $68,502

  • 20 · Interest

    total $1,911,965 · program services $1,911,965

  • 22 · Depreciation, depletion and amortization

    total $1,929,832 · program services $809,197 · management and general $1,120,635

  • 23 · Insurance

    total $776,337 · program services $725,866 · management and general $50,471

  • 24a · Other expenses: SUPPLIES

    total $1,556,908 · program services $1,443,929 · management and general $112,979

  • 24b · Other expenses: MEDICAL

    total $1,360,228 · program services $1,360,228

  • 24c · Other expenses: FOOD

    total $1,086,214 · program services $1,086,214

  • 24d · Other expenses: BOOKS & AIDS

    total $266,477 · program services $266,477

  • 24e · All other expenses

    total $775,829 · program services $620,684 · management and general $155,145

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $11,808,773 · end of year $8,313,556

  • 2 · Savings and temporary cash investments

    beginning of year $5,057,893 · end of year $5,107,624

  • 4 · Accounts receivable

    beginning of year $1,718,983 · end of year $1,477,876

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

    $59,520,316

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

    $9,458,812

  • 10c · Land, buildings and equipment, net

    beginning of year $49,393,602 · end of year $50,061,504

  • 14 · Intangible assets

    beginning of year $735,243 · end of year $667,815

  • 15 · Other assets

    beginning of year $10,019,330 · end of year $6,523,780

  • 17 · Accounts payable and accrued expenses

    beginning of year $2,250,044 · end of year $1,876,568

  • 19 · Deferred revenue

    beginning of year $39,166 · end of year $29,167

  • 20 · Tax-exempt bond liabilities

    beginning of year $26,110,000 · end of year $25,345,000

  • 24 · Unsecured notes and loans payable

    beginning of year $17,287,610 · end of year $17,184,012

  • 25 · Other liabilities

    beginning of year $11,499,129 · end of year $8,709,175

  • 27 · Net assets without donor restrictions

    beginning of year $19,634,494 · end of year $18,708,560

  • 28 · Net assets with donor restrictions

    beginning of year $1,913,381 · end of year $299,673

Mission and programs · 2022

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 $35,308,322 · Revenue $1,074,611

As filed on the 2022 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 Emir Tas

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Dr Emre Celebi

    SECRETARY

    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

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Fatih Bogrek

    SUPERINTENDENT

    Total calculated
    $135,923
    From this org
    $115,050
    From related orgs
    $0
    Other
    $20,873
    Hours/week
    40

  • Necati Sahin

    CFO

    Total calculated
    $115,201
    From this org
    $97,357
    From related orgs
    $0
    Other
    $17,844
    Hours/week
    40

  • Hasan Sazci

    ASST. SUPERINDENDENT

    Total calculated
    $115,698
    From this org
    $97,700
    From related orgs
    $0
    Other
    $17,998
    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.

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 $265,351 · assets $47,748,725

    Directly controlled by FOUNDATION

Provenance

Return type
form_990
Tax year
2022
Filed
13 May 2024
IRS schema version
2022v5.0
Source object
202441359349309849

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