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Nonprofiteer
← KARL G MAESER PREPARATORY ACADEMY

Form 990 for tax year 2023

Filed by KARL G MAESER PREPARATORY ACADEMY.

Totals

Total revenue
$7,584,265
Total expenses
$6,470,768
Contributions and grants received
$6,858,682
Grants paid
$0
Program service revenue
$376,570
Investment income
$302,798
Other revenue
$46,215
Total assets, end of year
$16,243,837
Total liabilities, end of year
$11,097,905
Net assets or fund balances, end of year
$5,145,932
Program services expenses (Part IX)
$5,674,683
Management and general expenses
$796,085
Fundraising expenses
$0
Program service expenses (Part III)
$5,674,683

Program services were 87.7% 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)

    $6,685,974

  • 1f · All other contributions, gifts and grants

    $172,708

  • 2a · Program service revenue: Fees

    total $376,570 · related or exempt $376,570

  • 3 · Investment income

    total $302,798 · excluded $302,798

  • 8a · Fundraising events: gross income

    $25,427

  • 8b · Fundraising events: direct expenses

    $15,960

  • 8c · Net income from fundraising events

    total $9,467 · excluded $9,467

  • 11a · Other revenue: Other

    total $36,748 · excluded $36,748

  • 11e · Other revenue, total

    $36,748

Functional expenses

Part IX, the statement of functional expenses.

  • 5 · Compensation of officers, directors and key employees

    total $94,777 · program services $94,777

  • 7 · Other salaries and wages

    total $3,179,832 · program services $2,838,678 · management and general $341,154

  • 8 · Pension plan contributions

    total $333,456 · program services $333,456

  • 9 · Other employee benefits

    total $451,828 · program services $329,558 · management and general $122,270

  • 10 · Payroll taxes

    total $236,823 · program services $236,823

  • 11a · Fees: management

    total $81,036 · management and general $81,036

  • 11c · Fees: accounting

    total $14,850 · management and general $14,850

  • 11g · Fees: other

    total $183,852 · program services $149,528 · management and general $34,324

  • 12 · Advertising and promotion

    total $3,903 · program services $3,903

  • 13 · Office expenses

    total $10,441 · program services $10,441

  • 14 · Information technology

    total $140,653 · program services $140,653

  • 16 · Occupancy

    total $212,430 · program services $182,521 · management and general $29,909

  • 17 · Travel

    total $96,180 · program services $96,180

  • 19 · Conferences, conventions and meetings

    total $25,311 · program services $25,311

  • 20 · Interest

    total $349,800 · program services $306,782 · management and general $43,018

  • 22 · Depreciation, depletion and amortization

    total $303,403 · program services $287,114 · management and general $16,289

  • 23 · Insurance

    total $24,200 · program services $24,200

  • 24a · Other expenses: Supplies and materials

    total $491,122 · program services $377,887 · management and general $113,235

  • 24b · Other expenses: Repairs and maintenance

    total $107,690 · program services $107,690

  • 24c · Other expenses: Textbooks and equipment

    total $99,742 · program services $99,742

  • 24d · Other expenses: Dues and fees

    total $22,392 · program services $22,392

  • 24e · All other expenses

    total $7,047 · program services $7,047

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $857,142 · end of year $130,093

  • 2 · Savings and temporary cash investments

    beginning of year $5,846,955 · end of year $7,303,988

  • 3 · Pledges and grants receivable

    beginning of year $195,664 · end of year $286,043

  • 4 · Accounts receivable

    beginning of year $4,914 · end of year $6,996

  • 9 · Prepaid expenses and deferred charges

    end of year $6,528

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

    $12,004,466

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

    $3,494,277

  • 10c · Land, buildings and equipment, net

    beginning of year $8,612,366 · end of year $8,510,189

  • 17 · Accounts payable and accrued expenses

    beginning of year $361,674 · end of year $401,919

  • 19 · Deferred revenue

    beginning of year $236,169 · end of year $223,106

  • 20 · Tax-exempt bond liabilities

    beginning of year $10,495,000 · end of year $10,130,000

  • 25 · Other liabilities

    beginning of year $391,763 · end of year $342,880

  • 27 · Net assets without donor restrictions

    beginning of year $4,032,435 · end of year $5,145,932

Mission and programs · 2023

Mission

None

Activities or mission (Part I)

To manage, operate, guide, direct, and promote a public charter school funded by local, state, and federal sources.

  • Operation of one public charter school for students from seventh through twelfth grade.

    Expenses $5,674,683 · Revenue $376,570

As filed on the 2023 return.

Listed in Part VII

  • Steve Whitehouse

    CFO

    Total calculated
    $12,000
    From this org
    $12,000
    From related orgs
    $0
    Other
    $0
    Hours/week
    1

  • Cynthia Shumway

    CAO

    Total calculated
    $0
    Hours/week
    1

  • Paul Bingham

    Asst CFO

    Total calculated
    $0
    Hours/week
    1

  • Joanna Larsen

    Board Member

    Total calculated
    $0
    Hours/week
    1

  • Jason Dodge

    Board Member

    Total calculated
    $0
    Hours/week
    1

  • Sandra Russell

    Board Member

    Total calculated
    $0
    Hours/week
    1

  • Ted Gilbert

    Director

    Total calculated
    $107,352
    From this org
    $82,777
    From related orgs
    $0
    Other
    $24,575
    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
14 February 2025
IRS schema version
2023v6.0
Source object
202510569349301031

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