PURPOSE PREPARATORY ACADEMY INC: Form 990, tax year 2021

View the entire original 990 at ProPublica ↗

Organization
PURPOSE PREPARATORY ACADEMY INC (EIN 46-0693776)
Tax period
2021-07-01 to 2022-06-30
Filed
2023-05-16
IRS object ID
202301369349300915
Schema version
2021v4.2
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)
Return2023-05-16T17:26:52-05:00ReturnTs
Tax Period End2022-06-30TaxPeriodEndDt

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 103AddressLine1Txt
CityNASHVILLECityNm
State AbbreviationTNStateAbbreviationCd
ZIP37215ZIPCd
FieldValueIRS element (for citing)
Return Type990ReturnTypeCd
Tax Period Begin2021-07-01TaxPeriodBeginDt

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
Signature2023-05-16SignatureDt
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

Preparer Person PreparerPersonGrp

FieldValueIRS element (for citing)
Preparer PersonRODNEY C BROWERPreparerPersonNm
PTINP00168898PTIN
Phone6153205500PhoneNum
Preparation2023-05-12PreparationDt

Additional Filer Information AdditionalFilerInformation

Trusted Customer TrustedCustomerGrp

FieldValueIRS element (for citing)
Trusted Customer3TrustedCustomerCd
Authentication Assurance LevelAAL1AuthenticationAssuranceLevelCd
Identity Assurance LevelIAL1IdentityAssuranceLevelCd
FieldValueIRS element (for citing)
Tax2021TaxYr
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$7,881,900GrossReceiptsAmt
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 FOUR STUDENTS ACHIEVE THE ACADEMIC SKILLS, KNOWLEDGE, AND ETHICAL FOUNDATION TO BE SET ON THE PATH TO COLLEGE.ActivityOrMissionDesc
Voting Members Governing Body14VotingMembersGoverningBodyCnt
Voting Members Independent14VotingMembersIndependentCnt
Total Employee0TotalEmployeeCnt
Total Volunteers0TotalVolunteersCnt
Total Gross UBI$0TotalGrossUBIAmt
Net Unrelated Bus Txbl Incm$0NetUnrelatedBusTxblIncmAmt
PY Contributions Grants$6,195,450PYContributionsGrantsAmt
CY Contributions Grants$7,866,904CYContributionsGrantsAmt
PY Program Service Revenue$0PYProgramServiceRevenueAmt
CY Program Service Revenue$0CYProgramServiceRevenueAmt
PY Investment Income$5,380PYInvestmentIncomeAmt
CY Investment Income$6,757CYInvestmentIncomeAmt
PY Other Revenue$1,141PYOtherRevenueAmt
CY Other Revenue$8,239CYOtherRevenueAmt
PY Total Revenue$6,201,971PYTotalRevenueAmt
CY Total Revenue$7,881,900CYTotalRevenueAmt
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$2,879,464PYSalariesCompEmpBnftPaidAmt
CY Salaries Comp Emp Bnft Paid$3,117,240CYSalariesCompEmpBnftPaidAmt
PY Total Prof Fndrsng Expns$0PYTotalProfFndrsngExpnsAmt
CY Total Prof Fndrsng Expns$0CYTotalProfFndrsngExpnsAmt
CY Total Fundraising Expense$20,788CYTotalFundraisingExpenseAmt
PY Other Expenses$1,317,705PYOtherExpensesAmt
CY Other Expenses$2,599,922CYOtherExpensesAmt
PY Total Expenses$4,197,169PYTotalExpensesAmt
CY Total Expenses$5,717,162CYTotalExpensesAmt
PY Revenues Less Expenses$2,004,802PYRevenuesLessExpensesAmt
CY Revenues Less Expenses$2,164,738CYRevenuesLessExpensesAmt
Total Assets BOY$8,996,709TotalAssetsBOYAmt
Total Assets EOY$10,740,534TotalAssetsEOYAmt
Total Liabilities BOY$5,103,591TotalLiabilitiesBOYAmt
Total Liabilities EOY$4,682,678TotalLiabilitiesEOYAmt
Net Assets Or Fund Balances BOY$3,893,118NetAssetsOrFundBalancesBOYAmt
Net Assets Or Fund Balances EOY$6,057,856NetAssetsOrFundBalancesEOYAmt
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 Change0SignificantChangeInd
Expense$3,412,531ExpenseAmt
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$3,412,531TotalProgramServiceExpensesAmt
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 AssetsYes (1)ReportOtherAssetsInd
Report Other Liabilities0ReportOtherLiabilitiesInd
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 Document0IRPDocumentCnt
IRP Document W2 G0IRPDocumentW2GCnt
Employee0EmployeeCnt
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 Members14GoverningBodyVotingMembersCnt
Independent Voting Member14IndependentVotingMemberCnt
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
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
FieldValueIRS element (for citing)
No Listed Persons CompensatedYes (X)NoListedPersonsCompensatedInd

Form990 Part VII Section A Form990PartVIISectionAGrp (13 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
DR JERRI HAYNES
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
LAGRA NEWMAN
HEAD OF SCHOOL40.00$136,132$0$3,595Yes (X)
FieldValueIRS element (for citing)
Total Reportable Comp From Org$136,132TotalReportableCompFromOrgAmt
Tot Reportable Comp Rltd Org$0TotReportableCompRltdOrgAmt
Total Other Compensation$3,595TotalOtherCompensationAmt
Indiv Rcvd Greater Than100 K1IndivRcvdGreaterThan100KCnt
Former Ofcr Employees Listed0FormerOfcrEmployeesListedInd
Total Comp Greater Than150 K0TotalCompGreaterThan150KInd
Compensation From Other Srcs0CompensationFromOtherSrcsInd
Cntrct Rcvd Greater Than100 K0CntrctRcvdGreaterThan100KCnt
Government Grants$7,603,216GovernmentGrantsAmt
All Other Contributions$263,688AllOtherContributionsAmt
Total Contributions$7,866,904TotalContributionsAmt

Investment Income InvestmentIncomeGrp

FieldValueIRS element (for citing)
Total Revenue Column$6,757TotalRevenueColumnAmt
Exclusion$6,757ExclusionAmt

Other Revenue Misc OtherRevenueMiscGrp

FieldValueIRS element (for citing)
DescMISCELLANEOUSDesc
Business611110BusinessCd
Total Revenue Column$8,239TotalRevenueColumnAmt
Related Or Exempt Func Income$8,239RelatedOrExemptFuncIncomeAmt
FieldValueIRS element (for citing)
Other Revenue Total$8,239OtherRevenueTotalAmt

Total Revenue TotalRevenueGrp

FieldValueIRS element (for citing)
Total Revenue Column$7,881,900TotalRevenueColumnAmt
Related Or Exempt Func Income$8,239RelatedOrExemptFuncIncomeAmt
Unrelated Business Revenue$0UnrelatedBusinessRevenueAmt
Exclusion$6,757ExclusionAmt

Comp Current Ofcr Directors CompCurrentOfcrDirectorsGrp

FieldValueIRS element (for citing)
Total$140,721TotalAmt
Management And General$140,721ManagementAndGeneralAmt

Other Salaries And Wages OtherSalariesAndWagesGrp

FieldValueIRS element (for citing)
Total$2,430,742TotalAmt
Program Services$1,635,413ProgramServicesAmt
Management And General$795,329ManagementAndGeneralAmt

Pension Plan Contributions PensionPlanContributionsGrp

FieldValueIRS element (for citing)
Total$12,384TotalAmt
Program Services$9,288ProgramServicesAmt
Management And General$3,096ManagementAndGeneralAmt

Other Employee Benefits OtherEmployeeBenefitsGrp

FieldValueIRS element (for citing)
Total$343,428TotalAmt
Program Services$257,571ProgramServicesAmt
Management And General$85,857ManagementAndGeneralAmt

Payroll Taxes PayrollTaxesGrp

FieldValueIRS element (for citing)
Total$189,965TotalAmt
Program Services$142,474ProgramServicesAmt
Management And General$47,491ManagementAndGeneralAmt

Fees For Services Management FeesForServicesManagementGrp

FieldValueIRS element (for citing)
Total$757,868TotalAmt
Program Services$319,155ProgramServicesAmt
Management And General$438,713ManagementAndGeneralAmt

Office Expenses OfficeExpensesGrp

FieldValueIRS element (for citing)
Total$117,548TotalAmt
Management And General$117,548ManagementAndGeneralAmt

Occupancy OccupancyGrp

FieldValueIRS element (for citing)
Total$271,888TotalAmt
Program Services$89,254ProgramServicesAmt
Management And General$182,634ManagementAndGeneralAmt

Travel TravelGrp

FieldValueIRS element (for citing)
Total$298,213TotalAmt
Program Services$298,213ProgramServicesAmt

Interest InterestGrp

FieldValueIRS element (for citing)
Total$129,526TotalAmt
Management And General$129,526ManagementAndGeneralAmt

Depreciation Depletion DepreciationDepletionGrp

FieldValueIRS element (for citing)
Total$100,570TotalAmt
Program Services$85,485ProgramServicesAmt
Management And General$15,085ManagementAndGeneralAmt

Insurance InsuranceGrp

FieldValueIRS element (for citing)
Total$49,245TotalAmt
Management And General$49,245ManagementAndGeneralAmt

Other Expenses OtherExpensesGrp (4 entries)

DescDescTotalTotalAmtProgram ServicesProgramServicesAmtManagement And GeneralManagementAndGeneralAmt
FOOD SERVICES$300,064$300,064
OTHER EXPENSES$282,766$4,168$278,598
INSTRUCTIONAL EXPENSES$147,290$147,290
STAFF DEVELOPMENT$111,336$111,336

All Other Expenses AllOtherExpensesGrp

FieldValueIRS element (for citing)
Total$33,608TotalAmt
Program Services$12,820ProgramServicesAmt
Fundraising$20,788FundraisingAmt

Total Functional Expenses TotalFunctionalExpensesGrp

FieldValueIRS element (for citing)
Total$5,717,162TotalAmt
Program Services$3,412,531ProgramServicesAmt
Management And General$2,283,843ManagementAndGeneralAmt
Fundraising$20,788FundraisingAmt

Cash Non Interest Bearing CashNonInterestBearingGrp

FieldValueIRS element (for citing)
BOY$3,142,643BOYAmt
EOY$3,088,579EOYAmt

Accounts Receivable AccountsReceivableGrp

FieldValueIRS element (for citing)
BOY$507,646BOYAmt
EOY$2,449,534EOYAmt

Prepaid Expenses Defrd Charges PrepaidExpensesDefrdChargesGrp

FieldValueIRS element (for citing)
BOY$474,933BOYAmt
EOY$714,150EOYAmt
FieldValueIRS element (for citing)
Land Bldg Equip Cost Or Other Bss$4,838,504LandBldgEquipCostOrOtherBssAmt
Land Bldg Equip Accum Deprec$1,190,856LandBldgEquipAccumDeprecAmt

Land Bldg Equip Basis Net LandBldgEquipBasisNetGrp

FieldValueIRS element (for citing)
BOY$3,691,952BOYAmt
EOY$3,647,648EOYAmt

Other Assets Total OtherAssetsTotalGrp

FieldValueIRS element (for citing)
BOY$1,179,535BOYAmt
EOY$840,623EOYAmt

Total Assets TotalAssetsGrp

FieldValueIRS element (for citing)
BOY$8,996,709BOYAmt
EOY$10,740,534EOYAmt

Accounts Payable Accr Expnss AccountsPayableAccrExpnssGrp

FieldValueIRS element (for citing)
BOY$168,887BOYAmt
EOY$301,605EOYAmt

Grants Payable GrantsPayableGrp

FieldValueIRS element (for citing)
BOY$330,000BOYAmt
EOY$280,000EOYAmt

Deferred Revenue DeferredRevenueGrp

FieldValueIRS element (for citing)
BOY$1,310,181BOYAmt
EOY$935,331EOYAmt

Mortg Notes Pybl Scrd Invst Prop MortgNotesPyblScrdInvstPropGrp

FieldValueIRS element (for citing)
BOY$3,294,523BOYAmt
EOY$3,165,742EOYAmt

Total Liabilities TotalLiabilitiesGrp

FieldValueIRS element (for citing)
BOY$5,103,591BOYAmt
EOY$4,682,678EOYAmt
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$3,893,118BOYAmt
EOY$6,057,856EOYAmt

Total Net Assets Fund Balance TotalNetAssetsFundBalanceGrp

FieldValueIRS element (for citing)
BOY$3,893,118BOYAmt
EOY$6,057,856EOYAmt

Tot Liab Net Assets Fund Balance TotLiabNetAssetsFundBalanceGrp

FieldValueIRS element (for citing)
BOY$8,996,709BOYAmt
EOY$10,740,534EOYAmt
FieldValueIRS element (for citing)
Reconcilation Revenue Expnss$2,164,738ReconcilationRevenueExpnssAmt
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$3,152,066OtherCostOrOtherBasisAmt
Depreciation$397,958DepreciationAmt
Book Value$2,754,108BookValueAmt

Leasehold Improvements LeaseholdImprovementsGrp

FieldValueIRS element (for citing)
Other Cost Or Other Basis$518,416OtherCostOrOtherBasisAmt
Depreciation$518,416DepreciationAmt
Book Value$0BookValueAmt

Equipment EquipmentGrp

FieldValueIRS element (for citing)
Other Cost Or Other Basis$197,051OtherCostOrOtherBasisAmt
Depreciation$163,511DepreciationAmt
Book Value$33,540BookValueAmt

Other Land Buildings OtherLandBuildingsGrp

FieldValueIRS element (for citing)
Other Cost Or Other Basis$110,971OtherCostOrOtherBasisAmt
Depreciation$110,971DepreciationAmt
Book Value$0BookValueAmt
FieldValueIRS element (for citing)
Total Book Value Land Buildings$3,647,648TotalBookValueLandBuildingsAmt

Other Assets Org OtherAssetsOrgGrp (3 entries)

DescDescBook ValueBookValueAmt
NET PENSION ASSET$692,207
TCRS STABILIZATION RESERVE TRUST$92,379
OTHER CURRENT ASSETS$56,037
FieldValueIRS element (for citing)
Total Book Value Other Assets$840,623TotalBookValueOtherAssetsAmt
Total Rev Etc Audited Fincl Stmt$7,881,900TotalRevEtcAuditedFinclStmtAmt
Revenue Not Reported$0RevenueNotReportedAmt
Revenue Subtotal$7,881,900RevenueSubtotalAmt
Revenue Not Reported Fincl Stmt$0RevenueNotReportedFinclStmtAmt
Total Revenue Per Form990$7,881,900TotalRevenuePerForm990Amt
Tot Expns Etc Audited Fincl Stmt$5,717,162TotExpnsEtcAuditedFinclStmtAmt
Expenses Not Reported$0ExpensesNotReportedAmt
Expenses Subtotal$5,717,162ExpensesSubtotalAmt
Expenses Not Rpt Fincl Stmt$0ExpensesNotRptFinclStmtAmt
Total Expenses Per Form990$5,717,162TotalExpensesPerForm990Amt

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 (2 entries)

Form And Line ReferenceFormAndLineReferenceDescExplanationExplanationTxt
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.

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