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FRIENDS OF CHATTANOOGA PREP INC: Form 990, tax year 2023

View the entire original 990 at ProPublica ↗

Organization
FRIENDS OF CHATTANOOGA PREP INC (EIN 81-3512599)
Tax period
2023-07-01 to 2024-06-30
Filed
2025-05-12
IRS object ID
202501329349302770
Schema version
2023v6.0
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)
Return2025-05-12T10:37:00-05:00ReturnTs
Tax Period End2024-06-30TaxPeriodEndDt

Preparer Firm PreparerFirmGrp

FieldValueIRS element (for citing)
Preparer Firm EIN621046406PreparerFirmEIN

Preparer Firm Name PreparerFirmName

FieldValueIRS element (for citing)
Business Name Line1JOHNSON HICKEY & MURCHISON PCBusinessNameLine1Txt

Preparer US Address PreparerUSAddress

FieldValueIRS element (for citing)
Address Line12215 OLAN MILLS DRIVEAddressLine1Txt
CityCHATTANOOGACityNm
State AbbreviationTNStateAbbreviationCd
ZIP37421ZIPCd
FieldValueIRS element (for citing)
Return Type990ReturnTypeCd
Tax Period Begin2023-07-01TaxPeriodBeginDt

Filer Filer

FieldValueIRS element (for citing)
EIN813512599EIN

Business Name BusinessName

FieldValueIRS element (for citing)
Business Name Line1FRIENDS OF CHATTANOOGA PREP INCBusinessNameLine1Txt
FieldValueIRS element (for citing)
Business Name ControlFRIEBusinessNameControlTxt
Phone4236645722PhoneNum

US Address USAddress

FieldValueIRS element (for citing)
Address Line11849 UNION AVENUEAddressLine1Txt
CityCHATTANOOGACityNm
State AbbreviationTNStateAbbreviationCd
ZIP37404ZIPCd

Business Officer BusinessOfficerGrp

FieldValueIRS element (for citing)
PersonTED ALLINGPersonNm
Person TitleCHAIRMANPersonTitleTxt
Phone4236645722PhoneNum
Signature2025-05-08SignatureDt
FieldValueIRS element (for citing)
IRS Responsible Prty Info Curr0IRSResponsiblePrtyInfoCurrInd

Preparer Person PreparerPersonGrp

FieldValueIRS element (for citing)
Preparer PersonSHERRI ANDERSONPreparerPersonNm
PTINP01228421PTIN
Phone4237560052PhoneNum
Preparation2025-04-22PreparationDt
FieldValueIRS element (for citing)
Tax2023TaxYr
Build TS2025-03-06 01:10:19ZBuildTS

Form 990 IRS990

FieldValueIRS element (for citing)
Principal OfficerTED ALLINGPrincipalOfficerNm

US Address USAddress

FieldValueIRS element (for citing)
Address Line11849 UNION AVENUEAddressLine1Txt
CityCHATTANOOGACityNm
State AbbreviationTNStateAbbreviationCd
ZIP37404ZIPCd
FieldValueIRS element (for citing)
Gross Receipts$943,120GrossReceiptsAmt
Group Return For Affiliates0GroupReturnForAffiliatesInd
Organization501c3Yes (X)Organization501c3Ind
Website AddressN/AWebsiteAddressTxt
Type Of Organization CorpYes (X)TypeOfOrganizationCorpInd
Formation2016FormationYr
Legal Domicile StateTNLegalDomicileStateCd
Activity Or MissionTHE ORGANIZATION IS DEVOTED TO SUPPORTING SINGLE SEX EDUCATIONAL POLICIES, PRACTICES AND STRUCTURES THAT LEAD TO INCREASED ACADEMIC SUCCESS AMONG BOYS AND YOUNG MEN. SPECIFICALLY, THE ORGANIZATION WILL ACT AS THE SPONSOR OF A PUBLIC CHARTER SCHOOL (PREP PUBLIC SCHOOLS) CREATED PURSUANT TO THE TENNESSEE PUBLIC CHARTER SCHOOL ACT OF 2002.ActivityOrMissionDesc
Voting Members Governing Body5VotingMembersGoverningBodyCnt
Voting Members Independent5VotingMembersIndependentCnt
Total Employee2TotalEmployeeCnt
Total Volunteers5TotalVolunteersCnt
Total Gross UBI$0TotalGrossUBIAmt
Net Unrelated Bus Txbl Incm$0NetUnrelatedBusTxblIncmAmt
PY Contributions Grants$4,899,967PYContributionsGrantsAmt
CY Contributions Grants$943,118CYContributionsGrantsAmt
PY Program Service Revenue$0PYProgramServiceRevenueAmt
CY Program Service Revenue$0CYProgramServiceRevenueAmt
PY Investment Income$0PYInvestmentIncomeAmt
CY Investment Income$2CYInvestmentIncomeAmt
PY Other Revenue$0PYOtherRevenueAmt
CY Other Revenue$0CYOtherRevenueAmt
PY Total Revenue$4,899,967PYTotalRevenueAmt
CY Total Revenue$943,120CYTotalRevenueAmt
PY Grants And Similar Paid$0PYGrantsAndSimilarPaidAmt
CY Grants And Similar Paid$297,904CYGrantsAndSimilarPaidAmt
PY Benefits Paid To Members$0PYBenefitsPaidToMembersAmt
CY Benefits Paid To Members$0CYBenefitsPaidToMembersAmt
PY Salaries Comp Emp Bnft Paid$37,652PYSalariesCompEmpBnftPaidAmt
CY Salaries Comp Emp Bnft Paid$0CYSalariesCompEmpBnftPaidAmt
PY Total Prof Fndrsng Expns$0PYTotalProfFndrsngExpnsAmt
CY Total Prof Fndrsng Expns$0CYTotalProfFndrsngExpnsAmt
CY Total Fundraising Expense$0CYTotalFundraisingExpenseAmt
PY Other Expenses$707,021PYOtherExpensesAmt
CY Other Expenses$910,879CYOtherExpensesAmt
PY Total Expenses$744,673PYTotalExpensesAmt
CY Total Expenses$1,208,783CYTotalExpensesAmt
PY Revenues Less Expenses$4,155,294PYRevenuesLessExpensesAmt
CY Revenues Less Expenses-$265,663CYRevenuesLessExpensesAmt
Total Assets BOY$17,507,883TotalAssetsBOYAmt
Total Assets EOY$19,704,343TotalAssetsEOYAmt
Total Liabilities BOY$7,931,738TotalLiabilitiesBOYAmt
Total Liabilities EOY$10,393,861TotalLiabilitiesEOYAmt
Net Assets Or Fund Balances BOY$9,576,145NetAssetsOrFundBalancesBOYAmt
Net Assets Or Fund Balances EOY$9,310,482NetAssetsOrFundBalancesEOYAmt
Info In Schedule O Part IIIYes (X)InfoInScheduleOPartIIIInd
MissionTHE ORGANIZATION IS DEVOTED TO SUPPORTING SINGLE SEX EDUCATIONAL POLICIES, PRACTICES AND STRUCTURES THAT LEAD TO INCREASED ACADEMIC SUCCESS AMONG BOYS AND YOUNG MEN. SPECIFICALLY, THE ORGANIZATION WILLACT AS THE SPONSOR OF A PUBLIC CHARTER SCHOOL (PREP PUBLIC SCHOOLS) CREATED PURSUANT TO THE TENNESSEEPUBLIC CHARTER SCHOOL ACT OF 2002.MissionDesc
Significant New Program Srvc0SignificantNewProgramSrvcInd
Significant Change0SignificantChangeInd
Expense$1,208,783ExpenseAmt
Grant$297,904GrantAmt
DescFRIENDS OF CHATTANOOGA PREPARATORY SCHOOL WAS FOUNDED IN 2016 TO ENHANCE EDUCATIONAL OPPORTUNITIES FOR BOYS IN HAMILTON COUNTY, TENNESSEE. THE ORGANIZATION SPONSORS THE PREP PUBLIC SCHOOLS, PROVIDING ON-GOING ASSISTANCE AND SUPPORT.Desc
Total Program Service Expenses$1,208,783TotalProgramServiceExpensesAmt
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 FootnoteYes (1)IncludeFIN48FootnoteInd
Independent Audit Fincl Stmt0IndependentAuditFinclStmtInd
Consolidated Audit Fincl StmtYes (1)ConsolidatedAuditFinclStmtInd
School Operating0SchoolOperatingInd
Foreign Office0ForeignOfficeInd
Foreign Activities0ForeignActivitiesInd
More Than5000 K To Org0MoreThan5000KToOrgInd
More Than5000 K To Individuals0MoreThan5000KToIndividualsInd
Professional Fundraising0ProfessionalFundraisingInd
Fundraising Activities0FundraisingActivitiesInd
Gaming Activities0GamingActivitiesInd
Operate Hospital0OperateHospitalInd
Grants To OrganizationsYes (1)GrantsToOrganizationsInd
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 EntityYes (1)RelatedEntityInd
Related Organization Ctrl Ent0RelatedOrganizationCtrlEntInd
Trnsfr Exmpt Non Chrtbl Rltd Org0TrnsfrExmptNonChrtblRltdOrgInd
Activities Conducted Prtshp0ActivitiesConductedPrtshpInd
Schedule O RequiredYes (1)ScheduleORequiredInd
IRP Document10IRPDocumentCnt
IRP Document W2 G0IRPDocumentW2GCnt
Backup Wthld ComplianceYes (1)BackupWthldComplianceInd
Employee2EmployeeCnt
Employment Tax Returns FiledYes (1)EmploymentTaxReturnsFiledInd
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
Rcv Fnds To Pay Prsnl Bnft Cntrct0RcvFndsToPayPrsnlBnftCntrctInd
Pay Premiums Prsnl Bnft Cntrct0PayPremiumsPrsnlBnftCntrctInd
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 Members5GoverningBodyVotingMembersCnt
Independent Voting Member5IndependentVotingMemberCnt
Family Or Business RlnYes (1)FamilyOrBusinessRlnInd
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 EnfrcYes (1)RegularMonitoringEnfrcInd
Whistleblower Policy0WhistleblowerPolicyInd
Document Retention Policy0DocumentRetentionPolicyInd
Compensation Process CEOYes (1)CompensationProcessCEOInd
Compensation Process OtherYes (1)CompensationProcessOtherInd
Investment In Joint Venture0InvestmentInJointVentureInd
Upon RequestYes (X)UponRequestInd

Books In Care Of Detail BooksInCareOfDetail

Business Name BusinessName

FieldValueIRS element (for citing)
Business Name Line1THE ORGANIZATIONBusinessNameLine1Txt
FieldValueIRS element (for citing)
Phone4236645722PhoneNum

US Address USAddress

FieldValueIRS element (for citing)
Address Line11849 UNION AVENUEAddressLine1Txt
CityCHATTANOOGACityNm
State AbbreviationTNStateAbbreviationCd
ZIP37404ZIPCd
FieldValueIRS element (for citing)
No Listed Persons CompensatedYes (X)NoListedPersonsCompensatedInd

Form990 Part VII Section A Form990PartVIISectionAGrp (5 entries)

TitleTitleTxtAverage Hours Per WeekAverageHoursPerWeekRtIndividual Trustee Or DirectorIndividualTrusteeOrDirectorIndOfficerOfficerIndReportable Comp From OrgReportableCompFromOrgAmtReportable Comp From Rltd OrgReportableCompFromRltdOrgAmtOther CompensationOtherCompensationAmt
TED ALLING
CHAIR5.00Yes (X)Yes (X)$0$0$0
SUE ANNE WELLS
DIRECTOR1.00Yes (X)$0$0$0
JACK STUDOR
DIRECTOR1.00Yes (X)$0$0$0
KELLY ALLING
DIRECTOR1.00Yes (X)$0$0$0
DAVID CAINES
DIRECTOR1.00Yes (X)$0$0$0
FieldValueIRS element (for citing)
Total Reportable Comp From Org$0TotalReportableCompFromOrgAmt
Tot Reportable Comp Rltd Org$0TotReportableCompRltdOrgAmt
Total Other Compensation$0TotalOtherCompensationAmt
Indiv Rcvd Greater Than100 K0IndivRcvdGreaterThan100KCnt
Former Ofcr Employees Listed0FormerOfcrEmployeesListedInd
Total Comp Greater Than150 K0TotalCompGreaterThan150KInd
Compensation From Other Srcs0CompensationFromOtherSrcsInd

Contractor Compensation ContractorCompensationGrp (2 entries)

Address Line1ContractorAddress/USAddress/AddressLine1TxtCityContractorAddress/USAddress/CityNmState AbbreviationContractorAddress/USAddress/StateAbbreviationCdZIPContractorAddress/USAddress/ZIPCdServicesServicesDescCompensationCompensationAmt
ROBERT ROBERTS LLC
2901 E 48TH STCHATTANOOGATN37407CONSTRUCTION$1,278,370
TRANE US INC
800 E BEATY STDAVIDSONNC28036HEATING & AIR INSTALLATION$149,391
FieldValueIRS element (for citing)
Cntrct Rcvd Greater Than100 K2CntrctRcvdGreaterThan100KCnt
All Other Contributions$943,118AllOtherContributionsAmt
Total Contributions$943,118TotalContributionsAmt

Investment Income InvestmentIncomeGrp

FieldValueIRS element (for citing)
Total Revenue Column$2TotalRevenueColumnAmt
Exclusion$2ExclusionAmt

Total Revenue TotalRevenueGrp

FieldValueIRS element (for citing)
Total Revenue Column$943,120TotalRevenueColumnAmt
Related Or Exempt Func Income$0RelatedOrExemptFuncIncomeAmt
Unrelated Business Revenue$0UnrelatedBusinessRevenueAmt
Exclusion$2ExclusionAmt

Grants To Domestic Orgs GrantsToDomesticOrgsGrp

FieldValueIRS element (for citing)
Total$297,904TotalAmt
Program Services$297,904ProgramServicesAmt

Fees For Services Accounting FeesForServicesAccountingGrp

FieldValueIRS element (for citing)
Total$9,453TotalAmt
Program Services$9,453ProgramServicesAmt

Occupancy OccupancyGrp

FieldValueIRS element (for citing)
Total$62,162TotalAmt
Program Services$62,162ProgramServicesAmt

Interest InterestGrp

FieldValueIRS element (for citing)
Total$421,691TotalAmt
Program Services$421,691ProgramServicesAmt

Depreciation Depletion DepreciationDepletionGrp

FieldValueIRS element (for citing)
Total$417,310TotalAmt
Program Services$417,310ProgramServicesAmt

Other Expenses OtherExpensesGrp (2 entries)

DescDescTotalTotalAmtProgram ServicesProgramServicesAmt
SPECIAL EVENT$240$240
FEES AND LICENSES$23$23

Total Functional Expenses TotalFunctionalExpensesGrp

FieldValueIRS element (for citing)
Total$1,208,783TotalAmt
Program Services$1,208,783ProgramServicesAmt
Management And General$0ManagementAndGeneralAmt
Fundraising$0FundraisingAmt

Cash Non Interest Bearing CashNonInterestBearingGrp

FieldValueIRS element (for citing)
BOY$214,925BOYAmt
EOY$100,438EOYAmt

Pledges And Grants Receivable PledgesAndGrantsReceivableGrp

FieldValueIRS element (for citing)
BOY$139,437BOYAmt

Prepaid Expenses Defrd Charges PrepaidExpensesDefrdChargesGrp

FieldValueIRS element (for citing)
EOY$25,000EOYAmt
FieldValueIRS element (for citing)
Land Bldg Equip Cost Or Other Bss$20,300,304LandBldgEquipCostOrOtherBssAmt
Land Bldg Equip Accum Deprec$1,706,093LandBldgEquipAccumDeprecAmt

Land Bldg Equip Basis Net LandBldgEquipBasisNetGrp

FieldValueIRS element (for citing)
BOY$17,153,521BOYAmt
EOY$18,594,211EOYAmt

Other Assets Total OtherAssetsTotalGrp

FieldValueIRS element (for citing)
BOY$0BOYAmt
EOY$984,694EOYAmt

Total Assets TotalAssetsGrp

FieldValueIRS element (for citing)
BOY$17,507,883BOYAmt
EOY$19,704,343EOYAmt

Accounts Payable Accr Expnss AccountsPayableAccrExpnssGrp

FieldValueIRS element (for citing)
BOY$25,426BOYAmt
EOY$35,357EOYAmt

Mortg Notes Pybl Scrd Invst Prop MortgNotesPyblScrdInvstPropGrp

FieldValueIRS element (for citing)
BOY$7,906,312BOYAmt
EOY$9,399,664EOYAmt

Other Liabilities OtherLiabilitiesGrp

FieldValueIRS element (for citing)
BOY$0BOYAmt
EOY$958,840EOYAmt

Total Liabilities TotalLiabilitiesGrp

FieldValueIRS element (for citing)
BOY$7,931,738BOYAmt
EOY$10,393,861EOYAmt
FieldValueIRS element (for citing)
Organization Follows FASB117Yes (X)OrganizationFollowsFASB117Ind

No Donor Restriction Net Assets NoDonorRestrictionNetAssetsGrp

FieldValueIRS element (for citing)
BOY$9,574,588BOYAmt
EOY$9,310,482EOYAmt

Donor Restriction Net Assets DonorRestrictionNetAssetsGrp

FieldValueIRS element (for citing)
BOY$1,557BOYAmt
EOY$0EOYAmt

Total Net Assets Fund Balance TotalNetAssetsFundBalanceGrp

FieldValueIRS element (for citing)
BOY$9,576,145BOYAmt
EOY$9,310,482EOYAmt

Tot Liab Net Assets Fund Balance TotLiabNetAssetsFundBalanceGrp

FieldValueIRS element (for citing)
BOY$17,507,883BOYAmt
EOY$19,704,343EOYAmt
FieldValueIRS element (for citing)
Reconcilation Revenue Expnss-$265,663ReconcilationRevenueExpnssAmt
Other Changes In Net Assets$0OtherChangesInNetAssetsAmt
Method Of Accounting AccrualYes (X)MethodOfAccountingAccrualInd
Accountant Compile Or Review0AccountantCompileOrReviewInd
FS AuditedYes (1)FSAuditedInd

FS Audited Basis FSAuditedBasisGrp

FieldValueIRS element (for citing)
Separate Basis Fincl StmtYes (X)SeparateBasisFinclStmtInd
FieldValueIRS element (for citing)
Audit CommitteeYes (1)AuditCommitteeInd
Federal Grant Audit RequiredYes (1)FederalGrantAuditRequiredInd
Federal Grant Audit PerformedYes (1)FederalGrantAuditPerformedInd

Schedule A IRS990ScheduleA

FieldValueIRS element (for citing)
Public Organization170Yes (X)PublicOrganization170Ind

Gifts Grants Contri Rcvd170 GiftsGrantsContriRcvd170Grp

FieldValueIRS element (for citing)
Current Tax Year Minus4 Years$121,270CurrentTaxYearMinus4YearsAmt
Current Tax Year Minus3 Years$1,638,653CurrentTaxYearMinus3YearsAmt
Current Tax Year Minus2 Years$1,097,526CurrentTaxYearMinus2YearsAmt
Current Tax Year Minus1 Year$917,594CurrentTaxYearMinus1YearAmt
Current Tax Year$943,118CurrentTaxYearAmt
Total$4,718,161TotalAmt

Total Calendar Year170 TotalCalendarYear170Grp

FieldValueIRS element (for citing)
Current Tax Year Minus4 Years$121,270CurrentTaxYearMinus4YearsAmt
Current Tax Year Minus3 Years$1,638,653CurrentTaxYearMinus3YearsAmt
Current Tax Year Minus2 Years$1,097,526CurrentTaxYearMinus2YearsAmt
Current Tax Year Minus1 Year$917,594CurrentTaxYearMinus1YearAmt
Current Tax Year$943,118CurrentTaxYearAmt
Total$4,718,161TotalAmt
FieldValueIRS element (for citing)
Substantial Contributors Tot$361,274SubstantialContributorsTotAmt
Public Support Total170$4,356,887PublicSupportTotal170Amt

Gross Investment Income170 GrossInvestmentIncome170Grp

FieldValueIRS element (for citing)
Current Tax Year$2CurrentTaxYearAmt
Total$2TotalAmt
FieldValueIRS element (for citing)
Total Support$4,718,163TotalSupportAmt
Public Support CY1700.92340PublicSupportCY170Pct
Public Support PY1700.89960PublicSupportPY170Pct
Thirty Thr Pct Suprt Tests CY170Yes (X)ThirtyThrPctSuprtTestsCY170Ind

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

Land LandGrp

FieldValueIRS element (for citing)
Other Cost Or Other Basis$602,100OtherCostOrOtherBasisAmt
Book Value$602,100BookValueAmt

Buildings BuildingsGrp

FieldValueIRS element (for citing)
Other Cost Or Other Basis$15,079,698OtherCostOrOtherBasisAmt
Depreciation$1,467,082DepreciationAmt
Book Value$13,612,616BookValueAmt

Equipment EquipmentGrp

FieldValueIRS element (for citing)
Other Cost Or Other Basis$242,555OtherCostOrOtherBasisAmt
Depreciation$239,011DepreciationAmt
Book Value$3,544BookValueAmt

Other Land Buildings OtherLandBuildingsGrp

FieldValueIRS element (for citing)
Other Cost Or Other Basis$4,375,951OtherCostOrOtherBasisAmt
Book Value$4,375,951BookValueAmt
FieldValueIRS element (for citing)
Total Book Value Land Buildings$18,594,211TotalBookValueLandBuildingsAmt

Other Liabilities Org OtherLiabilitiesOrgGrp

FieldValueIRS element (for citing)
DescLEASE OBLIGATIONSDesc
Amt$958,840Amt
FieldValueIRS element (for citing)
Total Liability$958,840TotalLiabilityAmt
Footnote TextYes (X)FootnoteTextInd
Total Rev Etc Audited Fincl Stmt$1,729,420TotalRevEtcAuditedFinclStmtAmt
Donated Services And Use Fclts$786,300DonatedServicesAndUseFcltsAmt
Revenue Not Reported$786,300RevenueNotReportedAmt
Revenue Subtotal$943,120RevenueSubtotalAmt
Revenue Not Reported Fincl Stmt$0RevenueNotReportedFinclStmtAmt
Total Revenue Per Form990$943,120TotalRevenuePerForm990Amt
Tot Expns Etc Audited Fincl Stmt$1,995,083TotExpnsEtcAuditedFinclStmtAmt
Donated Services Use Fclts$786,300DonatedServicesUseFcltsAmt
Expenses Not Reported$786,300ExpensesNotReportedAmt
Expenses Subtotal$1,208,783ExpensesSubtotalAmt
Expenses Not Rpt Fincl Stmt$0ExpensesNotRptFinclStmtAmt
Total Expenses Per Form990$1,208,783TotalExpensesPerForm990Amt

Supplemental Information Detail SupplementalInformationDetail

FieldValueIRS element (for citing)
Form And Line ReferencePART X, LINE 2:FormAndLineReferenceDesc
ExplanationINCLUDED IN THE CONSOLIDATED FINANCIALS THE SCHOOL IS A NONPROFIT ORGANIZATION THAT IS EXEMPT FROM FEDERAL INCOME TAXES UNDER THE INTERNAL REVENUE CODE AND CLASSIFIED BY THE INTERNAL REVENUE SERVICE AS OTHER THAN A PRIVATE FOUNDATION AND IS SIMILARLY EXEMPT FROM STATE INCOME TAXES. THE SCHOOL FOLLOWS THE REQUIREMENTS OF PROFESSIONAL LITERATURE REGARDING UNCERTAIN TAX POSITIONS. UNDER THIS GUIDANCE, THE SCHOOL MUST RECOGNIZE THE TAX EFFECT ASSOCIATED WITH UNCERTAIN TAX POSITIONS TAKEN FOR TAX RETURN PURPOSES WHEN IT IS MORE LIKELY THAN NOT THE POSITION WILL BE SUSTAINED. THE SCHOOL DOES NOT BELIEVE THERE ARE ANY MATERIAL UNCERTAIN TAX POSITIONS AND ACCORDINGLY,IT WILL NOT RECOGNIZE ANY LIABILITY FOR UNRECOGNIZED TAX BENEFITS. FOR THE PERIOD ENDED JUNE 30, 2024, THERE WERE NO INTEREST OR PENALTIES RECORDED OR INCLUDED IN THESE FINANCIAL STATEMENTS. THE RETURNS FOR THE YEARS ENDED JUNE 30, 2021 AND BEYOND REMAIN SUBJECT TO EXAMINATION.ExplanationTxt

Schedule I IRS990ScheduleI

FieldValueIRS element (for citing)
Grant Records MaintainedYes (1)GrantRecordsMaintainedInd

Recipient Table RecipientTable (2 entries)

Address Line1USAddress/AddressLine1TxtCityUSAddress/CityNmState AbbreviationUSAddress/StateAbbreviationCdZIPUSAddress/ZIPCdRecipient EINRecipientEINCash GrantCashGrantAmtNon Cash AssistanceNonCashAssistanceAmtPurpose Of GrantPurposeOfGrantTxt
PREP PUBLIC SCHOOLS
1849 UNION AVENUECHATTANOOGATN37404813512812$16,667$0PREP SCHOOL
KNOXVILLE PREPARATORY SCHOOL
1849 UNION AVENUECHATTANOOGATN37404813512812$281,237$0PREP SCHOOL
FieldValueIRS element (for citing)
Total501c3 Org2Total501c3OrgCnt

Schedule O IRS990ScheduleO

Supplemental Information Detail SupplementalInformationDetail (5 entries)

Form And Line ReferenceFormAndLineReferenceDescExplanationExplanationTxt
FORM 990, PART VI, SECTION A, LINE 2TED ALLING AND KELLY ALLING ARE MARRIED
FORM 990, PART VI, SECTION B, LINE 11BTHE BOARD OF DIRECTORS WILL REVIEW BEFORE THE RETURN IS FILED
FORM 990, PART VI, SECTION B, LINE 12CEACH DIRECTOR MUST PROMPTLY AND FULLY REPORT TO THE BOARD CHAIR ANY SITUATION THAT MAY CREATE A CONFLICT OF INTEREST. FRIENDS OF CHATTANOOGA PREP SENDS A COPY OF THE POLICY STATEMENT AND THE CONFLICT OF INTEREST DISCLOSURE STATEMENT ANNUALLY TO BE SIGNED BY EACH DIRECTOR.
FORM 990, PART VI, SECTION B, LINE 15THE BOARD OF DIRECTORS REVIEW AND APPROVE THE EXECUTIVE DIRECTOR'S SALARY ANNUALLY. NO DIRECTORS ARE COMPENSATED. THE ORGANIZATION HAS NO KEY EMPLOYEES.
FORM 990, PART VI, SECTION C, LINE 19NO DOCUMENTS ARE MADE AVAILABLE TO THE PUBLIC

Schedule R IRS990ScheduleR

Id Related Tax Exempt Org IdRelatedTaxExemptOrgGrp (2 entries)

Address Line1USAddress/AddressLine1TxtCityUSAddress/CityNmState AbbreviationUSAddress/StateAbbreviationCdZIPUSAddress/ZIPCdEINEINPrimary ActivitiesPrimaryActivitiesTxtLegal Domicile StateLegalDomicileStateCdExempt Code SectionExemptCodeSectionTxtPublic Charity StatusPublicCharityStatusTxtControlled OrganizationControlledOrganizationInd
PREP PUBLIC SCHOOLS
1849 UNION AVENUECHATTANOOGATN37404813512812PREP SCHOOLTN501(C)(3)170(B)(1)(A)(II)0
KNOXVILLE PREPARATORY SCHOOL
1849 UNION AVENUECHATTANOOGATN37404813512812PREP SCHOOLTN501(C)(3)170(B)(1)(A)(II)0
FieldValueIRS element (for citing)
Receipt Of Int Annts Rnts Rylts0ReceiptOfIntAnntsRntsRyltsInd
Gift Grnt Or Cap Contri To Oth OrgYes (1)GiftGrntOrCapContriToOthOrgInd
Gift Grnt Cap Contri From Oth OrgYes (1)GiftGrntCapContriFromOthOrgInd
Loans Or Guarantees To Other OrgYes (1)LoansOrGuaranteesToOtherOrgInd
Loans Or Guarantees From Oth Org0LoansOrGuaranteesFromOthOrgInd
Div Related Organization0DivRelatedOrganizationInd
Asset Sale To Other Org0AssetSaleToOtherOrgInd
Asset Purchase From Other Org0AssetPurchaseFromOtherOrgInd
Asset Exchange0AssetExchangeInd
Rental Of Facilities To Oth Org0RentalOfFacilitiesToOthOrgInd
Rental Of Fclts From Oth Org0RentalOfFcltsFromOthOrgInd
Perform Of Services For Oth Org0PerformOfServicesForOthOrgInd
Perform Of Services By Other Org0PerformOfServicesByOtherOrgInd
Sharing Of Facilities0SharingOfFacilitiesInd
Paid Employees Sharing0PaidEmployeesSharingInd
Reimbursement Paid To Other Org0ReimbursementPaidToOtherOrgInd
Reimbursement Paid By Other Org0ReimbursementPaidByOtherOrgInd
Transfer To Other Org0TransferToOtherOrgInd
Transfer From Other Org0TransferFromOtherOrgInd

Transactions Related Org TransactionsRelatedOrgGrp (4 entries)

Transaction TypeTransactionTypeTxtInvolvedInvolvedAmtMethod Of Amount DeterminationMethodOfAmountDeterminationTxt
PREP PUBLIC SCHOOLS
C$779,516CASH
KNOXVILLE PREPARATORY SCHOOL
C$85,000CASH
PREP PUBLIC SCHOOLS
B$16,667CASH VALUE
KNOXVILLE PREPARATORY SCHOOL
B$281,237CASH VALUE

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