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← AMBITION PREPARATORY CHARTER SCHOOL

Form 990 for tax year 2024

Filed by AMBITION PREPARATORY CHARTER SCHOOL.

Totals

Total revenue
$8,427,714
Total expenses
$6,836,929
Contributions and grants received
$8,303,621
Grants paid
$0
Program service revenue
$111,843
Investment income
$0
Other revenue
$12,250
Total assets, end of year
$10,857,515
Total liabilities, end of year
$6,927,368
Net assets or fund balances, end of year
$3,930,147
Program services expenses (Part IX)
$6,032,778
Management and general expenses
$804,151
Fundraising expenses
$0
Program service expenses (Part III)
$6,032,778

Program services were 88.2% 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)

    $8,245,807

  • 1f · All other contributions, gifts and grants

    $57,814

  • 2a · Program service revenue: STUDENT ACTIVITIES AND

    total $111,843 · related or exempt $111,843

  • 6a · Gross rents

    real property $12,250

  • 6b · Less rental expenses

    real property $0

  • 6c · Rental income or loss

    real property $12,250

  • 6d · Net rental income or loss

    total $12,250 · related or exempt $12,250

Functional expenses

Part IX, the statement of functional expenses.

  • 5 · Compensation of officers, directors and key employees

    total $156,856 · program services $117,642 · management and general $39,214

  • 7 · Other salaries and wages

    total $3,293,271 · program services $2,988,436 · management and general $304,835

  • 8 · Pension plan contributions

    total $40,682 · program services $36,614 · management and general $4,068

  • 9 · Other employee benefits

    total $267,004 · program services $267,004

  • 10 · Payroll taxes

    total $259,742 · program services $233,768 · management and general $25,974

  • 11c · Fees: accounting

    total $42,925 · program services $32,194 · management and general $10,731

  • 11g · Fees: other

    total $374,213 · program services $308,171 · management and general $66,042

  • 13 · Office expenses

    total $188,297 · program services $141,224 · management and general $47,073

  • 16 · Occupancy

    total $273,137 · program services $217,050 · management and general $56,087

  • 17 · Travel

    total $211,108 · program services $210,946 · management and general $162

  • 20 · Interest

    total $314,242 · program services $235,682 · management and general $78,560

  • 22 · Depreciation, depletion and amortization

    total $495,254 · program services $396,203 · management and general $99,051

  • 23 · Insurance

    total $166,975 · program services $133,580 · management and general $33,395

  • 24a · Other expenses: FOOD SERVICE

    total $326,158 · program services $326,158

  • 24b · Other expenses: CURRICULUM MATERIALS AN

    total $130,350 · program services $130,350

  • 24c · Other expenses: SUPPLIES AND OTHER OPER

    total $128,588 · program services $113,134 · management and general $15,454

  • 24d · Other expenses: PROFESSIONAL DEVELOPMEN

    total $89,814 · program services $67,361 · management and general $22,453

  • 24e · All other expenses

    total $78,313 · program services $77,261 · management and general $1,052

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $2,223,967 · end of year $3,018,513

  • 3 · Pledges and grants receivable

    beginning of year $493,387 · end of year $982,503

  • 9 · Prepaid expenses and deferred charges

    beginning of year $4,009 · end of year $11,780

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

    $8,628,704

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

    $1,795,837

  • 10c · Land, buildings and equipment, net

    beginning of year $7,084,438 · end of year $6,832,867

  • 15 · Other assets

    beginning of year $17,413 · end of year $11,852

  • 17 · Accounts payable and accrued expenses

    beginning of year $896,639 · end of year $498,987

  • 23 · Secured mortgages and notes payable

    beginning of year $6,587,213 · end of year $6,428,381

  • 27 · Net assets without donor restrictions

    beginning of year $2,339,362 · end of year $3,930,147

Mission and programs · 2024

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.

  • STUDENTS IN KINDERGARTEN THROUGH 4TH GRADE WILL BE ENROLLED IN OUR LOWER ACADEMY. THEY WILL STRATEGICALLY FOCUS ON LITERACY AND ORAL LANGUAGE. WE WILL NURTURE POSITIVE CHARACTER DEVELOPMENT SO THAT OUR STUDENTS ARE NOT ONLY SUCCESSFUL IN COLLEGE BUT ALSO SUCCESSFUL IN LIFE. WE FIRMLY BELIEVE THAT COLLEGE BEGINS IN KINDERGARTEN.STUDENTS IN 5TH THROUGH 8TH GRADE WILL BE ENROLLED IN OUR UPPER ACADEMY. OUR UPPER ACADEMY WILL BUILD OFF OF THE SKILLS THAT STUDENTS LEARNED IN THE LOWER ACADEMY. UPON COMPLETION OF OUR PROGRAM, OUR STUDENTS WILL BE PREPARED FOR HIGH SCHOOL AND ON A PATH TO COLLEGE SUCCESS. AMBITION PREP STUDENTS WILL EXPRESS THEMSELVES IN AN EFFECTIVE MANNER TO LEAD CHANGE WITHIN THEIR COMMUNITIES AND KNOW THE POWER AND POTENTIAL OF THEIR VOICE.

    Expenses $6,032,778 · Revenue $124,093

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

Listed in Part VII

  • Rochelle Lee- Vincent

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Tonya Morgan

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Thomas Whetzel

    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

    TREASURER

    Total calculated
    $0
    Hours/week
    1

  • Dearchie Scott

    EXECUTIVE DIRECTOR

    Total calculated
    $153,406
    From this org
    $144,624
    From related orgs
    $0
    Other
    $8,782
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $144,624
    Bonus
    $0
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $8,782
    Filer's total
    $153,406

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.

Provenance

Return type
form_990
Tax year
2024
Filed
14 May 2026
IRS schema version
2024v5.5
Source object
202601359349302475

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