PURPOSE PREPARATORY ACADEMY INC: Form 990, tax year 2022

View the entire original 990 at ProPublica ↗

Organization
PURPOSE PREPARATORY ACADEMY INC (EIN 46-0693776)
Tax period
2022-07-01 to 2023-06-30
Filed
2024-05-23
IRS object ID
202411449349300511
Schema version
2022v5.0
Source
Download XML · Original 990 at ProPublica

Every field in the e-filed return. Faint text is the IRS element name, for citing.

Return header ReturnHeader

FieldValueIRS element (for citing)
Return2024-05-23T08:18:59-05:00ReturnTs
Tax Period End2023-06-30TaxPeriodEndDt

Preparer Firm PreparerFirmGrp

FieldValueIRS element (for citing)
Preparer Firm EIN275360847PreparerFirmEIN

Preparer Firm Name PreparerFirmName

FieldValueIRS element (for citing)
Business Name Line1CROSSLIN PLLCBusinessNameLine1Txt

Preparer US Address PreparerUSAddress

FieldValueIRS element (for citing)
Address Line13803 BEDFORD AVENUE SUITE 201AddressLine1Txt
CityNASHVILLECityNm
State AbbreviationTNStateAbbreviationCd
ZIP37215ZIPCd
FieldValueIRS element (for citing)
Return Type990ReturnTypeCd
Tax Period Begin2022-07-01TaxPeriodBeginDt

Filer Filer

FieldValueIRS element (for citing)
EIN460693776EIN

Business Name BusinessName

FieldValueIRS element (for citing)
Business Name Line1PURPOSE PREPARATORY ACADEMY INCBusinessNameLine1Txt
FieldValueIRS element (for citing)
Business Name ControlPURPBusinessNameControlTxt
Phone6157240705PhoneNum

US Address USAddress

FieldValueIRS element (for citing)
Address Line1220 VENTURE CIRCLEAddressLine1Txt
CityNASHVILLECityNm
State AbbreviationTNStateAbbreviationCd
ZIP37228ZIPCd

Business Officer BusinessOfficerGrp

FieldValueIRS element (for citing)
PersonLAGRA NEWMANPersonNm
Person TitleFOUNDERPersonTitleTxt
Phone6157240705PhoneNum
Signature2024-05-23SignatureDt
Discuss With Paid PreparerYes (1)DiscussWithPaidPreparerInd

Signing Officer SigningOfficerGrp

Person Full Name PersonFullName

FieldValueIRS element (for citing)
Person FirstLAGRAPersonFirstNm
Person LastNEWMANPersonLastNm
FieldValueIRS element (for citing)
SSN999009999SSN
FieldValueIRS element (for citing)
IRS Responsible Prty Info CurrYes (1)IRSResponsiblePrtyInfoCurrInd

Preparer Person PreparerPersonGrp

FieldValueIRS element (for citing)
Preparer PersonRODNEY C BROWERPreparerPersonNm
PTINP00168898PTIN
Phone6153205500PhoneNum

Additional Filer Information AdditionalFilerInformation

Trusted Customer TrustedCustomerGrp

FieldValueIRS element (for citing)
Trusted Customer2TrustedCustomerCd
Authentication Assurance LevelAAL1AuthenticationAssuranceLevelCd
Identity Assurance LevelIAL1IdentityAssuranceLevelCd
FieldValueIRS element (for citing)
Tax2022TaxYr
Build TS2023-04-26 12:10:37ZBuildTS

Form 990 IRS990

FieldValueIRS element (for citing)
Principal OfficerLAGRA NEWMANPrincipalOfficerNm

US Address USAddress

FieldValueIRS element (for citing)
Address Line1220 VENTURE CIRCLEAddressLine1Txt
CityNASHVILLECityNm
State AbbreviationTNStateAbbreviationCd
ZIP37228ZIPCd
FieldValueIRS element (for citing)
Gross Receipts$8,192,648GrossReceiptsAmt
Group Return For Affiliates0GroupReturnForAffiliatesInd
Organization501c3Yes (X)Organization501c3Ind
Website AddressWWW.PURPOSEPREP.ORGWebsiteAddressTxt
Type Of Organization CorpYes (X)TypeOfOrganizationCorpInd
Formation2012FormationYr
Legal Domicile StateTNLegalDomicileStateCd
Activity Or MissionTHROUGH RIGOROUS CURRICULUM, HIGH-QUALITY INSTRUCTION, AND POSITIVE CHARACTER DEVELOPMENT, PURPOSE PREPARATORY ACADEMY CHARTER SCHOOL ENSURES THAT ALL KNODERGARTEN THROUGH GRADE FIVE STUDENTS ACHIEVE THE ACADEMIC SKILLS, KNOWLEDGE, AND ETHICAL FOUNDATION TO BE SET ON THE PATH TO COLLEGE.ActivityOrMissionDesc
Voting Members Governing Body12VotingMembersGoverningBodyCnt
Voting Members Independent12VotingMembersIndependentCnt
Total Employee77TotalEmployeeCnt
Total Volunteers30TotalVolunteersCnt
Total Gross UBI$0TotalGrossUBIAmt
Net Unrelated Bus Txbl Incm$0NetUnrelatedBusTxblIncmAmt
PY Contributions Grants$7,866,904PYContributionsGrantsAmt
CY Contributions Grants$8,061,499CYContributionsGrantsAmt
PY Program Service Revenue$0PYProgramServiceRevenueAmt
CY Program Service Revenue$0CYProgramServiceRevenueAmt
PY Investment Income$6,757PYInvestmentIncomeAmt
CY Investment Income$106,380CYInvestmentIncomeAmt
PY Other Revenue$8,239PYOtherRevenueAmt
CY Other Revenue$24,769CYOtherRevenueAmt
PY Total Revenue$7,881,900PYTotalRevenueAmt
CY Total Revenue$8,192,648CYTotalRevenueAmt
PY Grants And Similar Paid$0PYGrantsAndSimilarPaidAmt
CY Grants And Similar Paid$0CYGrantsAndSimilarPaidAmt
PY Benefits Paid To Members$0PYBenefitsPaidToMembersAmt
CY Benefits Paid To Members$0CYBenefitsPaidToMembersAmt
PY Salaries Comp Emp Bnft Paid$3,117,240PYSalariesCompEmpBnftPaidAmt
CY Salaries Comp Emp Bnft Paid$3,900,406CYSalariesCompEmpBnftPaidAmt
PY Total Prof Fndrsng Expns$0PYTotalProfFndrsngExpnsAmt
CY Total Prof Fndrsng Expns$0CYTotalProfFndrsngExpnsAmt
CY Total Fundraising Expense$92,524CYTotalFundraisingExpenseAmt
PY Other Expenses$2,599,922PYOtherExpensesAmt
CY Other Expenses$3,378,861CYOtherExpensesAmt
PY Total Expenses$5,717,162PYTotalExpensesAmt
CY Total Expenses$7,279,267CYTotalExpensesAmt
PY Revenues Less Expenses$2,164,738PYRevenuesLessExpensesAmt
CY Revenues Less Expenses$913,381CYRevenuesLessExpensesAmt
Total Assets BOY$10,740,534TotalAssetsBOYAmt
Total Assets EOY$10,483,673TotalAssetsEOYAmt
Total Liabilities BOY$4,682,678TotalLiabilitiesBOYAmt
Total Liabilities EOY$3,512,436TotalLiabilitiesEOYAmt
Net Assets Or Fund Balances BOY$6,057,856NetAssetsOrFundBalancesBOYAmt
Net Assets Or Fund Balances EOY$6,971,237NetAssetsOrFundBalancesEOYAmt
Info In Schedule O Part IIIYes (X)InfoInScheduleOPartIIIInd
MissionTHROUGH RIGOROUS CURRICULUM, HIGH-QUALITY INSTRUCTION, AND POSITIVE CHARACTER DEVELOPMENT, PURPOSE PREPARATORY ACADEMY CHARTER SCHOOL ENSURES THAT ALL KINDERGARTEN THROUGH GRADE FOUR STUDENTS ACHIEVE THE ACADEMIC SKILLS, KNOWLEDGE, AND ETHICAL FOUNDATION TO BE SET ON THE PATH TO COLLEGE.MissionDesc
Significant New Program Srvc0SignificantNewProgramSrvcInd
Significant ChangeYes (1)SignificantChangeInd
Expense$4,570,311ExpenseAmt
DescPURPOSE PREP PROVIDES AN ACADEMICALLY CHALLENGING, DISCIPLINED, AND JOYFUL ELEMENTARY SCHOOL TO CHILDREN OF NASHVILLE. WITH AN INTENSIVE FOCUS ON THE ACQUISITION OF ESSENTIAL LITERACY SKILLS, PURPOSE PREP PROVIDES TARGETED AND RIGOROUS INSTRUCTION IN EACH CORE SUBJECT TO MEET THE ACADEMIC NEEDS OF EVERY SCHOLAR. PURPOSE PREP HOLDS SCHOLARS ACCOUNTABLE FOR DEMONSTRATING EXCELLENT BEHAVIOR BY TEACHING THEM THE CHARACTER SKILLS NECESSARY FOR THEIR SUCCESS, SPECIFICALLY THE SCHOOL'S RISE WITH PURPOSE VALUES - PURPOSE, RESPECT, INTEGRITY, SELF-DETERMINATION, AND EXCELLENCE.Desc
Total Program Service Expenses$4,570,311TotalProgramServiceExpensesAmt
Described In Section501c3Yes (1)DescribedInSection501c3Ind
Schedule B RequiredYes (1)ScheduleBRequiredInd
Political Campaign Acty0PoliticalCampaignActyInd
Lobbying Activities0LobbyingActivitiesInd
Subject To Proxy Tax0SubjectToProxyTaxInd
Donor Advised Fund0DonorAdvisedFundInd
Conservation Easements0ConservationEasementsInd
Collections Of Art0CollectionsOfArtInd
Credit Counseling0CreditCounselingInd
Donor Rstr Or Quasi Endowments0DonorRstrOrQuasiEndowmentsInd
Report Land Building EquipmentYes (1)ReportLandBuildingEquipmentInd
Report Investments Other Sec0ReportInvestmentsOtherSecInd
Report Program Related Invst0ReportProgramRelatedInvstInd
Report Other Assets0ReportOtherAssetsInd
Report Other LiabilitiesYes (1)ReportOtherLiabilitiesInd
Include FIN48 Footnote0IncludeFIN48FootnoteInd
Independent Audit Fincl StmtYes (1)IndependentAuditFinclStmtInd
Consolidated Audit Fincl Stmt0ConsolidatedAuditFinclStmtInd
School OperatingYes (1)SchoolOperatingInd
Foreign Office0ForeignOfficeInd
Foreign Activities0ForeignActivitiesInd
More Than5000 K To Org0MoreThan5000KToOrgInd
More Than5000 K To Individuals0MoreThan5000KToIndividualsInd
Professional Fundraising0ProfessionalFundraisingInd
Fundraising Activities0FundraisingActivitiesInd
Gaming Activities0GamingActivitiesInd
Operate Hospital0OperateHospitalInd
Grants To Organizations0GrantsToOrganizationsInd
Grants To Individuals0GrantsToIndividualsInd
Schedule J Required0ScheduleJRequiredInd
Tax Exempt Bonds0TaxExemptBondsInd
Engaged In Excess Benefit Trans0EngagedInExcessBenefitTransInd
PY Excess Benefit Trans0PYExcessBenefitTransInd
Loan Outstanding0LoanOutstandingInd
Grant To Related Person0GrantToRelatedPersonInd
Business Rln With Org Mem0BusinessRlnWithOrgMemInd
Business Rln With Fam Mem0BusinessRlnWithFamMemInd
Business Rln With35 Ctrl Ent0BusinessRlnWith35CtrlEntInd
Deductible Non Cash Contri0DeductibleNonCashContriInd
Deductible Art Contribution0DeductibleArtContributionInd
Terminate Operations0TerminateOperationsInd
Partial Liquidation0PartialLiquidationInd
Disregarded Entity0DisregardedEntityInd
Related Entity0RelatedEntityInd
Related Organization Ctrl Ent0RelatedOrganizationCtrlEntInd
Trnsfr Exmpt Non Chrtbl Rltd Org0TrnsfrExmptNonChrtblRltdOrgInd
Activities Conducted Prtshp0ActivitiesConductedPrtshpInd
Schedule O RequiredYes (1)ScheduleORequiredInd
IRP Document39IRPDocumentCnt
IRP Document W2 G0IRPDocumentW2GCnt
Employee77EmployeeCnt
Employment Tax Returns Filed0EmploymentTaxReturnsFiledInd
Unrelated Bus Incm Over Limit0UnrelatedBusIncmOverLimitInd
Foreign Financial Account0ForeignFinancialAccountInd
Prohibited Tax Shelter Trans0ProhibitedTaxShelterTransInd
Taxable Party Notification0TaxablePartyNotificationInd
Nondeductible Contributions0NondeductibleContributionsInd
Quid Pro Quo Contributions0QuidProQuoContributionsInd
Form8282 Property Disposed Of0Form8282PropertyDisposedOfInd
Indoor Tanning Services0IndoorTanningServicesInd
Subj To Tax Rmnrtn Ex Prcht Pymt0SubjToTaxRmnrtnExPrchtPymtInd
Subject To Excs Tax Net Invst Inc0SubjectToExcsTaxNetInvstIncInd
Info In Schedule O Part VIYes (X)InfoInScheduleOPartVIInd
Governing Body Voting Members12GoverningBodyVotingMembersCnt
Independent Voting Member12IndependentVotingMemberCnt
Family Or Business Rln0FamilyOrBusinessRlnInd
Delegation Of Mgmt Duties0DelegationOfMgmtDutiesInd
Change To Org Documents0ChangeToOrgDocumentsInd
Material Diversion Or Misuse0MaterialDiversionOrMisuseInd
Members Or Stockholders0MembersOrStockholdersInd
Election Of Board Members0ElectionOfBoardMembersInd
Decisions Subject To Approva0DecisionsSubjectToApprovaInd
Minutes Of Governing BodyYes (1)MinutesOfGoverningBodyInd
Minutes Of CommitteesYes (1)MinutesOfCommitteesInd
Officer Mailing Address0OfficerMailingAddressInd
Local Chapters0LocalChaptersInd
Form990 Provided To Gvrn BodyYes (1)Form990ProvidedToGvrnBodyInd
Conflict Of Interest PolicyYes (1)ConflictOfInterestPolicyInd
Annual Disclosure Covered PrsnYes (1)AnnualDisclosureCoveredPrsnInd
Regular Monitoring Enfrc0RegularMonitoringEnfrcInd
Whistleblower PolicyYes (1)WhistleblowerPolicyInd
Document Retention PolicyYes (1)DocumentRetentionPolicyInd
Compensation Process CEO0CompensationProcessCEOInd
Compensation Process Other0CompensationProcessOtherInd
Investment In Joint Venture0InvestmentInJointVentureInd
States Where Copy Of Return Is FldTNStatesWhereCopyOfReturnIsFldCd
Upon RequestYes (X)UponRequestInd

Books In Care Of Detail BooksInCareOfDetail

Business Name BusinessName

FieldValueIRS element (for citing)
Business Name Line1EDTEC INCBusinessNameLine1Txt
FieldValueIRS element (for citing)
Phone6157635950PhoneNum

US Address USAddress

FieldValueIRS element (for citing)
Address Line1209 10TH AVENUE S SUITE 416AddressLine1Txt
CityNASHVILLECityNm
State AbbreviationTNStateAbbreviationCd
ZIP37203ZIPCd

Form990 Part VII Section A Form990PartVIISectionAGrp (12 entries)

TitleTitleTxtAverage Hours Per WeekAverageHoursPerWeekRtIndividual Trustee Or DirectorIndividualTrusteeOrDirectorIndOfficerOfficerIndReportable Comp From OrgReportableCompFromOrgAmtReportable Comp From Rltd OrgReportableCompFromRltdOrgAmtOther CompensationOtherCompensationAmtHighest Compensated EmployeeHighestCompensatedEmployeeInd
CHARLANDRA WATSON
CHAIR1.00Yes (X)Yes (X)$0$0$0
PERRY GOOCH
DIRECTOR1.00Yes (X)$0$0$0
SALLY NORTON
DIRECTOR1.00Yes (X)$0$0$0
MATT HANCOCK
DIRECTOR1.00Yes (X)$0$0$0
LARA HENLEY
DIRECTOR1.00Yes (X)$0$0$0
KATHY NELSON
DIRECTOR1.00Yes (X)$0$0$0
ROHIT PADMANABHAN
DIRECTOR1.00Yes (X)$0$0$0
DOMONIQUE TOWNSEND
DIRECTOR1.00Yes (X)$0$0$0
AMY BROWN
SECRETARY1.00Yes (X)Yes (X)$0$0$0
DALE MITCHELL
TREASURER1.00Yes (X)Yes (X)$0$0$0
RYANN CASEY
VICE CHAIR1.00Yes (X)Yes (X)$0$0$0
SHAUNA RUSSELL
DIRECTOR OF ACADEMICS40.00$100,072$0$12,199Yes (X)
FieldValueIRS element (for citing)
Total Reportable Comp From Org$100,072TotalReportableCompFromOrgAmt
Tot Reportable Comp Rltd Org$0TotReportableCompRltdOrgAmt
Total Other Compensation$12,199TotalOtherCompensationAmt
Indiv Rcvd Greater Than100 K2IndivRcvdGreaterThan100KCnt
Former Ofcr Employees Listed0FormerOfcrEmployeesListedInd
Total Comp Greater Than150 K0TotalCompGreaterThan150KInd
Compensation From Other Srcs0CompensationFromOtherSrcsInd
Cntrct Rcvd Greater Than100 K0CntrctRcvdGreaterThan100KCnt
Government Grants$6,902,105GovernmentGrantsAmt
All Other Contributions$1,159,394AllOtherContributionsAmt
Total Contributions$8,061,499TotalContributionsAmt

Investment Income InvestmentIncomeGrp

FieldValueIRS element (for citing)
Total Revenue Column$106,380TotalRevenueColumnAmt
Exclusion$106,380ExclusionAmt

Other Revenue Misc OtherRevenueMiscGrp

FieldValueIRS element (for citing)
DescMISCELLANEOUSDesc
Business611110BusinessCd
Total Revenue Column$24,769TotalRevenueColumnAmt
Related Or Exempt Func Income$24,769RelatedOrExemptFuncIncomeAmt
FieldValueIRS element (for citing)
Other Revenue Total$24,769OtherRevenueTotalAmt

Total Revenue TotalRevenueGrp

FieldValueIRS element (for citing)
Total Revenue Column$8,192,648TotalRevenueColumnAmt
Related Or Exempt Func Income$24,769RelatedOrExemptFuncIncomeAmt
Unrelated Business Revenue$0UnrelatedBusinessRevenueAmt
Exclusion$106,380ExclusionAmt

Comp Current Ofcr Directors CompCurrentOfcrDirectorsGrp

FieldValueIRS element (for citing)
Total$144,354TotalAmt
Management And General$144,354ManagementAndGeneralAmt

Other Salaries And Wages OtherSalariesAndWagesGrp

FieldValueIRS element (for citing)
Total$2,970,430TotalAmt
Program Services$1,955,402ProgramServicesAmt
Management And General$1,015,028ManagementAndGeneralAmt

Pension Plan Contributions PensionPlanContributionsGrp

FieldValueIRS element (for citing)
Total$206,889TotalAmt
Program Services$129,881ProgramServicesAmt
Management And General$77,008ManagementAndGeneralAmt

Other Employee Benefits OtherEmployeeBenefitsGrp

FieldValueIRS element (for citing)
Total$346,416TotalAmt
Program Services$217,473ProgramServicesAmt
Management And General$128,943ManagementAndGeneralAmt

Payroll Taxes PayrollTaxesGrp

FieldValueIRS element (for citing)
Total$232,317TotalAmt
Program Services$145,845ProgramServicesAmt
Management And General$86,472ManagementAndGeneralAmt

Fees For Services Management FeesForServicesManagementGrp

FieldValueIRS element (for citing)
Total$1,066,245TotalAmt
Program Services$696,104ProgramServicesAmt
Management And General$370,141ManagementAndGeneralAmt

Office Expenses OfficeExpensesGrp

FieldValueIRS element (for citing)
Total$110,006TotalAmt
Management And General$110,006ManagementAndGeneralAmt

Occupancy OccupancyGrp

FieldValueIRS element (for citing)
Total$288,980TotalAmt
Program Services$118,281ProgramServicesAmt
Management And General$170,699ManagementAndGeneralAmt

Travel TravelGrp

FieldValueIRS element (for citing)
Total$296,032TotalAmt
Program Services$296,032ProgramServicesAmt

Interest InterestGrp

FieldValueIRS element (for citing)
Total$95,107TotalAmt
Management And General$95,107ManagementAndGeneralAmt

Depreciation Depletion DepreciationDepletionGrp

FieldValueIRS element (for citing)
Total$155,690TotalAmt
Program Services$132,336ProgramServicesAmt
Management And General$23,354ManagementAndGeneralAmt

Insurance InsuranceGrp

FieldValueIRS element (for citing)
Total$58,498TotalAmt
Management And General$58,498ManagementAndGeneralAmt

Other Expenses OtherExpensesGrp (4 entries)

DescDescTotalTotalAmtProgram ServicesProgramServicesAmtManagement And GeneralManagementAndGeneralAmtFundraisingFundraisingAmt
FOOD SERVICES$479,294$479,294
OTHER EXPENSES$348,892$12,070$336,822
INSTRUCTIONAL EXPENSES$230,021$230,021
ORGANIZATIONAL DEVELOPM$134,476$41,952$92,524

All Other Expenses AllOtherExpensesGrp

FieldValueIRS element (for citing)
Total$115,620TotalAmt
Program Services$115,620ProgramServicesAmt

Total Functional Expenses TotalFunctionalExpensesGrp

FieldValueIRS element (for citing)
Total$7,279,267TotalAmt
Program Services$4,570,311ProgramServicesAmt
Management And General$2,616,432ManagementAndGeneralAmt
Fundraising$92,524FundraisingAmt

Cash Non Interest Bearing CashNonInterestBearingGrp

FieldValueIRS element (for citing)
BOY$3,088,579BOYAmt
EOY$5,140,930EOYAmt

Accounts Receivable AccountsReceivableGrp

FieldValueIRS element (for citing)
BOY$2,449,534BOYAmt
EOY$573,135EOYAmt

Prepaid Expenses Defrd Charges PrepaidExpensesDefrdChargesGrp

FieldValueIRS element (for citing)
BOY$714,150BOYAmt
EOY$722,901EOYAmt
FieldValueIRS element (for citing)
Land Bldg Equip Cost Or Other Bss$5,181,228LandBldgEquipCostOrOtherBssAmt
Land Bldg Equip Accum Deprec$1,346,546LandBldgEquipAccumDeprecAmt

Land Bldg Equip Basis Net LandBldgEquipBasisNetGrp

FieldValueIRS element (for citing)
BOY$3,647,648BOYAmt
EOY$3,834,682EOYAmt

Other Assets Total OtherAssetsTotalGrp

FieldValueIRS element (for citing)
BOY$840,623BOYAmt
EOY$212,025EOYAmt

Total Assets TotalAssetsGrp

FieldValueIRS element (for citing)
BOY$10,740,534BOYAmt
EOY$10,483,673EOYAmt

Accounts Payable Accr Expnss AccountsPayableAccrExpnssGrp

FieldValueIRS element (for citing)
BOY$301,605BOYAmt
EOY$178,928EOYAmt

Grants Payable GrantsPayableGrp

FieldValueIRS element (for citing)
BOY$280,000BOYAmt
EOY$115,000EOYAmt

Deferred Revenue DeferredRevenueGrp

FieldValueIRS element (for citing)
BOY$935,331BOYAmt
EOY$0EOYAmt

Mortg Notes Pybl Scrd Invst Prop MortgNotesPyblScrdInvstPropGrp

FieldValueIRS element (for citing)
BOY$3,165,742BOYAmt
EOY$3,017,912EOYAmt

Other Liabilities OtherLiabilitiesGrp

FieldValueIRS element (for citing)
BOY$0BOYAmt
EOY$200,596EOYAmt

Total Liabilities TotalLiabilitiesGrp

FieldValueIRS element (for citing)
BOY$4,682,678BOYAmt
EOY$3,512,436EOYAmt
FieldValueIRS element (for citing)
Org Does Not Follow FASB117Yes (X)OrgDoesNotFollowFASB117Ind

Cap Stk Tr Prin Current Funds CapStkTrPrinCurrentFundsGrp

FieldValueIRS element (for citing)
BOY$0BOYAmt
EOY$0EOYAmt

Pd In Cap Srpls Land Bldg Eqp Fund PdInCapSrplsLandBldgEqpFundGrp

FieldValueIRS element (for citing)
BOY$0BOYAmt
EOY$0EOYAmt

Rtn Earn Endowment Incm Oth Fnds RtnEarnEndowmentIncmOthFndsGrp

FieldValueIRS element (for citing)
BOY$6,057,856BOYAmt
EOY$6,971,237EOYAmt

Total Net Assets Fund Balance TotalNetAssetsFundBalanceGrp

FieldValueIRS element (for citing)
BOY$6,057,856BOYAmt
EOY$6,971,237EOYAmt

Tot Liab Net Assets Fund Balance TotLiabNetAssetsFundBalanceGrp

FieldValueIRS element (for citing)
BOY$10,740,534BOYAmt
EOY$10,483,673EOYAmt
FieldValueIRS element (for citing)
Reconcilation Revenue Expnss$913,381ReconcilationRevenueExpnssAmt
Other Changes In Net Assets$0OtherChangesInNetAssetsAmt
Method Of Accounting AccrualYes (X)MethodOfAccountingAccrualInd
Accountant Compile Or Review0AccountantCompileOrReviewInd
FS Audited0FSAuditedInd
Federal Grant Audit Required0FederalGrantAuditRequiredInd

Schedule A IRS990ScheduleA

FieldValueIRS element (for citing)
SchoolYes (X)SchoolInd

Schedule B IRS990ScheduleB

Contributor Information ContributorInformationGrp

FieldValueIRS element (for citing)
ContributorRESTRICTEDContributorNum

Contributor Business Name ContributorBusinessName

FieldValueIRS element (for citing)
Business Name Line1RESTRICTEDBusinessNameLine1

Contributor US Address ContributorUSAddress

FieldValueIRS element (for citing)
Address Line1RESTRICTEDAddressLine1
Address Line2RESTRICTEDAddressLine2
CityRESTRICTEDCity
StateRESTRICTEDState
ZIP CodeRESTRICTEDZIPCode
FieldValueIRS element (for citing)
Total ContributionsRESTRICTEDTotalContributionsAmt

Schedule D IRS990ScheduleD

FieldValueIRS element (for citing)
Agent Trustee Etc0AgentTrusteeEtcInd

Land LandGrp

FieldValueIRS element (for citing)
Other Cost Or Other Basis$860,000OtherCostOrOtherBasisAmt
Book Value$860,000BookValueAmt

Buildings BuildingsGrp

FieldValueIRS element (for citing)
Other Cost Or Other Basis$3,259,654OtherCostOrOtherBasisAmt
Depreciation$484,415DepreciationAmt
Book Value$2,775,239BookValueAmt

Leasehold Improvements LeaseholdImprovementsGrp

FieldValueIRS element (for citing)
Other Cost Or Other Basis$596,925OtherCostOrOtherBasisAmt
Depreciation$532,809DepreciationAmt
Book Value$64,116BookValueAmt

Equipment EquipmentGrp

FieldValueIRS element (for citing)
Other Cost Or Other Basis$315,871OtherCostOrOtherBasisAmt
Depreciation$214,301DepreciationAmt
Book Value$101,570BookValueAmt

Other Land Buildings OtherLandBuildingsGrp

FieldValueIRS element (for citing)
Other Cost Or Other Basis$148,778OtherCostOrOtherBasisAmt
Depreciation$115,021DepreciationAmt
Book Value$33,757BookValueAmt
FieldValueIRS element (for citing)
Total Book Value Land Buildings$3,834,682TotalBookValueLandBuildingsAmt

Other Liabilities Org OtherLiabilitiesOrgGrp (2 entries)

DescDescAmtAmt
NET PENSION LIABILITY$94,457
PENSION PAYABLE$106,139
FieldValueIRS element (for citing)
Total Liability$200,596TotalLiabilityAmt
Total Rev Etc Audited Fincl Stmt$8,192,648TotalRevEtcAuditedFinclStmtAmt
Revenue Not Reported$0RevenueNotReportedAmt
Revenue Subtotal$8,192,648RevenueSubtotalAmt
Revenue Not Reported Fincl Stmt$0RevenueNotReportedFinclStmtAmt
Total Revenue Per Form990$8,192,648TotalRevenuePerForm990Amt
Tot Expns Etc Audited Fincl Stmt$7,279,267TotExpnsEtcAuditedFinclStmtAmt
Expenses Not Reported$0ExpensesNotReportedAmt
Expenses Subtotal$7,279,267ExpensesSubtotalAmt
Expenses Not Rpt Fincl Stmt$0ExpensesNotRptFinclStmtAmt
Total Expenses Per Form990$7,279,267TotalExpensesPerForm990Amt

Schedule E IRS990ScheduleE

FieldValueIRS element (for citing)
Nondiscriminatory Policy StmtYes (1)NondiscriminatoryPolicyStmtInd
Policy Stmt In Brochures EtcYes (1)PolicyStmtInBrochuresEtcInd
Plcy Pblczd Via Broadcast MediaYes (1)PlcyPblczdViaBroadcastMediaInd
Maintain Racial Comp RecsYes (1)MaintainRacialCompRecsInd
Maintain Scholarships Recs0MaintainScholarshipsRecsInd
Maintain Cpy Of Brochures EtcYes (1)MaintainCpyOfBrochuresEtcInd
Maintain Cpy Of All SolYes (1)MaintainCpyOfAllSolInd
Discriminate Race Stdnts Rghts0DiscriminateRaceStdntsRghtsInd
Discriminate Race Admiss Plcy0DiscriminateRaceAdmissPlcyInd
Discriminate Race Emplm Fculty0DiscriminateRaceEmplmFcultyInd
Discriminate Race Schs0DiscriminateRaceSchsInd
Discriminate Race Educ Plcy0DiscriminateRaceEducPlcyInd
Discriminate Race Use Of Fclts0DiscriminateRaceUseOfFcltsInd
Discriminate Race Athlt Prog0DiscriminateRaceAthltProgInd
Discriminate Race Other Acty0DiscriminateRaceOtherActyInd
Government Financial Aid RcvdYes (1)GovernmentFinancialAidRcvdInd
Government Financial Aid Rvkd0GovernmentFinancialAidRvkdInd
Compliance With Rev Proc7550Yes (1)ComplianceWithRevProc7550Ind

Supplemental Information Detail SupplementalInformationDetail (3 entries)

Form And Line ReferenceFormAndLineReferenceDescExplanationExplanationTxt
SCHEDULE E, PART I, LINE 3PURPOSE PREPARATORY UTILIZES THE PUBLIC LOTTERY SYSTEM AND CORRESPONDING MARKETING EFFORTS THROUGH THE SCHOOL DISTRICT, WHICH ENSURES OUR RACIALLY NONDISCRIMINATORY POLICIES FOR REGISTRATION AND ENROLLMENT ARE PUBLICIZED THROUGHOUT THE CITY/DISTRICT.
SCHEDULE E, PART I, LINE 4NO FINANCIAL ASSISTANCE OR SCHOLARSHIPS AWARDED. PURPOSE PREPARATORY ACADEMY IS A PUBLIC CHARTER SCHOOL WITH NO TUITION REQUIREMENT.
SCHEDULE E, PART I, LINE 6THE SCHOOL IS A PUBLIC, TUITION-FREE CHARTER SCHOOL AND RECEIVES FUNDS PER PUPIL FROM THE STATE OF TENNESSEE.

Schedule O IRS990ScheduleO

Supplemental Information Detail SupplementalInformationDetail (3 entries)

Form And Line ReferenceFormAndLineReferenceDescExplanationExplanationTxt
FORM 990, PART III, LINE 3THE SCHOOL ADDED A SUMMER SCHOOL PROGRAM TO ITS ACADEMIC PROGRAM SERVICE ACTIVITY.
FORM 990, PART VI, SECTION B, LINE 11BFORM 990 IS PREPARED AND REVIEWED BY PURPOSE PREPARATORY ACADEMY'S BACK-OFFICE FINANCIAL PROVIDER. IT IS THEN GIVEN TO PURPOSE PREPARATORY'S EXECUTIVE DIRECTOR AND THE FINANCE COMMITTEE FOR REVIEW AND APPROVAL. ALL OTHER BOARD MEMBERS MAY OBTAIN A COPY FOR REVIEW UPON REQUEST.
FORM 990, PART VI, SECTION C, LINE 19PURPOSE PREPARATORY ACADEMY'S GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS ARE AVAILABLE UPON REQUEST OF THE DIRECTOR OF FINANCE, NOTED ON THE STATE'S WEBSITE, AND ARE PROVIDED TO STAFF. SPECIFIC GOVERNANCE DOCUMENTS MAY NOT BE AVAILABLE TO THE GENERAL PUBLIC AND ARE REVIEWED ON AN AS NEEDED BASIS.

Comments

Anonymous: no account or email. Up to 2,000 characters, at most one link. Comments are checked automatically; some wait for review.