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Nonprofiteer
← IVY PREPARATORY ACADEMY INCORPORATED

Form 990 for tax year 2022

Filed by IVY PREPARATORY ACADEMY INCORPORATED.

Totals

Total revenue
$7,944,967
Total expenses
$8,615,156
Contributions and grants received
$1,978,402
Grants paid
$0
Program service revenue
$5,465,493
Investment income
$0
Other revenue
$501,072
Total assets, end of year
$15,166,239
Total liabilities, end of year
$19,227,810
Net assets or fund balances, end of year
-$4,061,571
Program services expenses (Part IX)
$7,082,289
Management and general expenses
$1,532,867
Fundraising expenses
$0
Program service expenses (Part III)
$7,082,289

Program services were 82.2% 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)

    $1,978,402

  • 2a · Program service revenue: STATE QBE

    total $5,465,493 · related or exempt $5,465,493

  • 11a · Other revenue: OTHER REVENUE

    total $173,501 · related or exempt $173,501

  • 11b · Other revenue: RENTAL INCOME

    total $327,571 · related or exempt $327,571

  • 11e · Other revenue, total

    $501,072

Functional expenses

Part IX, the statement of functional expenses.

  • 20 · Interest

    total $560,306 · program services $560,306

  • 24a · Other expenses: BASIC INSTRUCTION

    total $3,493,317 · program services $3,493,317

  • 24b · Other expenses: SCHOOL ADMINISTRATION

    total $1,410,186 · management and general $1,410,186

  • 24c · Other expenses: FEDERAL GRANT ADMINISTRATION

    total $122,681 · management and general $122,681

  • 24d · Other expenses: PUPIL SERVICES

    total $741,901 · program services $741,901

  • 24e · All other expenses

    total $2,286,765 · program services $2,286,765

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $1,504,427 · end of year $1,402,396

  • 2 · Savings and temporary cash investments

    beginning of year $2,300,557 · end of year $2,355,002

  • 4 · Accounts receivable

    beginning of year $324,593 · end of year $495,285

  • 9 · Prepaid expenses and deferred charges

    beginning of year $38,239 · end of year $4,750

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

    $9,678,840

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

    $2,835,790

  • 10c · Land, buildings and equipment, net

    beginning of year $7,156,631 · end of year $6,843,050

  • 15 · Other assets

    beginning of year $1,768,987 · end of year $4,065,756

  • 17 · Accounts payable and accrued expenses

    beginning of year $102,548 · end of year $92,014

  • 23 · Secured mortgages and notes payable

    beginning of year $11,415,000 · end of year $10,920,000

  • 25 · Other liabilities

    beginning of year $4,967,268 · end of year $8,215,796

  • 27 · Net assets without donor restrictions

    beginning of year -$3,391,382 · end of year -$4,061,571

Mission and programs · 2022

Mission

OPERATION OF CHARTER SCHOOL AND RELATED SUPPORT SERVICES.

  • PROVIDE EDUCATION AND RELATED SERVICES TO STUDENTS.

    Expenses $7,082,289

As filed on the 2022 return.

Listed in Part VII

  • CHARCIA NICHOLS

    HEAD OF SCHOOL

    Total calculated
    $120,000
    From this org
    $120,000
    From related orgs
    $0
    Other
    $0
    Hours/week
    0

  • RONNIE BANYARD

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    2

  • JAMES BUSH

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    0

  • RASHAWN D KEMP

    CHAIRMAN

    Total calculated
    $0
    Hours/week
    2

  • TONYE DURR

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    2

  • KRISTIE HORNSBY-BATTLE

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    2

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
2022
Filed
8 September 2023
IRS schema version
2022v5.0
Source object
202343159349301624

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