PINELLAS PREPARATORY ACADEMY INC: Form 990, tax year 2024

View the entire original 990 at ProPublica ↗

Organization
PINELLAS PREPARATORY ACADEMY INC (EIN 91-2104700)
Tax period
2024-07-01 to 2025-06-30
Filed
2025-10-22
IRS object ID
202532959349301963
Schema version
2024v5.2
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)
Return2025-10-22T14:40:13-05:00ReturnTs
Tax Period End2025-06-30TaxPeriodEndDt

Preparer Firm PreparerFirmGrp

FieldValueIRS element (for citing)
Preparer Firm EIN472696892PreparerFirmEIN

Preparer Firm Name PreparerFirmName

FieldValueIRS element (for citing)
Business Name Line1Mike Hess CPA PABusinessNameLine1Txt

Preparer US Address PreparerUSAddress

FieldValueIRS element (for citing)
Address Line11800 W Hibiscus Blvd Ste 133AddressLine1Txt
CityMelbourneCityNm
State AbbreviationFLStateAbbreviationCd
ZIP32901ZIPCd
FieldValueIRS element (for citing)
Return Type990ReturnTypeCd
Tax Period Begin2024-07-01TaxPeriodBeginDt

Filer Filer

FieldValueIRS element (for citing)
EIN912104700EIN

Business Name BusinessName

FieldValueIRS element (for citing)
Business Name Line1Pinellas Preparatory AcademyBusinessNameLine1Txt
FieldValueIRS element (for citing)
Business Name ControlPINEBusinessNameControlTxt
Phone7275363600PhoneNum

US Address USAddress

FieldValueIRS element (for citing)
Address Line12300 S Belcher RoadAddressLine1Txt
CityLargoCityNm
State AbbreviationFLStateAbbreviationCd
ZIP33771ZIPCd

Business Officer BusinessOfficerGrp

FieldValueIRS element (for citing)
PersonJulie MeyersPersonNm
Person TitleChairpersonPersonTitleTxt
Phone7275363600PhoneNum
Signature2025-10-22SignatureDt
Discuss With Paid PreparerYes (1)DiscussWithPaidPreparerInd
FieldValueIRS element (for citing)
IRS Responsible Prty Info Curr0IRSResponsiblePrtyInfoCurrInd

Preparer Person PreparerPersonGrp

FieldValueIRS element (for citing)
Preparer PersonMike Hess CPAPreparerPersonNm
PTINP00290168PTIN
Phone3217256151PhoneNum
FieldValueIRS element (for citing)
Tax2024TaxYr
Build TS2025-03-06 01:10:19ZBuildTS

Form 990 IRS990

FieldValueIRS element (for citing)
Principal OfficerJulie MeyersPrincipalOfficerNm

US Address USAddress

FieldValueIRS element (for citing)
Address Line12300 S Belcher RoadAddressLine1Txt
CityLargoCityNm
State AbbreviationFLStateAbbreviationCd
ZIP33771ZIPCd
FieldValueIRS element (for citing)
Gross Receipts$9,410,949GrossReceiptsAmt
Group Return For Affiliates0GroupReturnForAffiliatesInd
Organization501c3Yes (X)Organization501c3Ind
Website Addresswww.pinellasprep.comWebsiteAddressTxt
Type Of Organization CorpYes (X)TypeOfOrganizationCorpInd
Formation2000FormationYr
Legal Domicile StateFLLegalDomicileStateCd
Activity Or MissionPINELLAS PREPARATORY ACADEMY, INC. STRIVES TO PROVIDE A CREATIVE AND POSITIVE ENVIRONMENT FOR EMOTIONALLY MATURE CHILDREN. OUR EXCELLENT FACULTY SHARES WITH PARENTS AND THE COMMUNITY THE RESPONSIBILITY TO PREPARE EACH CHILD FOR SECONDARY SCHOOL AND BEYOND.ActivityOrMissionDesc
Voting Members Governing Body6VotingMembersGoverningBodyCnt
Voting Members Independent6VotingMembersIndependentCnt
Total Employee127TotalEmployeeCnt
Total Volunteers550TotalVolunteersCnt
Total Gross UBI$0TotalGrossUBIAmt
Net Unrelated Bus Txbl Incm$0NetUnrelatedBusTxblIncmAmt
PY Contributions Grants$10,093,177PYContributionsGrantsAmt
CY Contributions Grants$8,313,634CYContributionsGrantsAmt
PY Program Service Revenue$984,954PYProgramServiceRevenueAmt
CY Program Service Revenue$901,713CYProgramServiceRevenueAmt
PY Investment Income$37,598PYInvestmentIncomeAmt
CY Investment Income$195,602CYInvestmentIncomeAmt
PY Other Revenue$0PYOtherRevenueAmt
CY Other Revenue$0CYOtherRevenueAmt
PY Total Revenue$11,115,729PYTotalRevenueAmt
CY Total Revenue$9,410,949CYTotalRevenueAmt
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$5,981,478PYSalariesCompEmpBnftPaidAmt
CY Salaries Comp Emp Bnft Paid$6,197,049CYSalariesCompEmpBnftPaidAmt
PY Total Prof Fndrsng Expns$0PYTotalProfFndrsngExpnsAmt
CY Total Prof Fndrsng Expns$0CYTotalProfFndrsngExpnsAmt
CY Total Fundraising Expense$0CYTotalFundraisingExpenseAmt
PY Other Expenses$3,277,341PYOtherExpensesAmt
CY Other Expenses$3,015,726CYOtherExpensesAmt
PY Total Expenses$9,258,819PYTotalExpensesAmt
CY Total Expenses$9,212,775CYTotalExpensesAmt
PY Revenues Less Expenses$1,856,910PYRevenuesLessExpensesAmt
CY Revenues Less Expenses$198,174CYRevenuesLessExpensesAmt
Total Assets BOY$13,458,615TotalAssetsBOYAmt
Total Assets EOY$13,722,913TotalAssetsEOYAmt
Total Liabilities BOY$8,982,437TotalLiabilitiesBOYAmt
Total Liabilities EOY$9,082,476TotalLiabilitiesEOYAmt
Net Assets Or Fund Balances BOY$4,476,178NetAssetsOrFundBalancesBOYAmt
Net Assets Or Fund Balances EOY$4,640,437NetAssetsOrFundBalancesEOYAmt
MissionPINELLAS PREPARATORY ACADEMY, INC. STRIVES TO PROVIDE A CREATIVE AND POSITIVE ENVIRONMENT FOR EMOTIONALLY MATURE CHILDREN. OUR EXCELLENT FACULTY SHARES WITH PARENTS AND THE COMMUNITY THE RESPONSIBILITY TO PREPARE EACH CHILD FOR SECONDARY SCHOOL AND BEYOND.MissionDesc
Significant New Program Srvc0SignificantNewProgramSrvcInd
Significant Change0SignificantChangeInd
Expense$8,130,244ExpenseAmt
Revenue$901,713RevenueAmt
DescPINELLAS PREPARATORY ACADEMY, INC. OPERATES TWO PUBLIC CHARTER SCHOOLS AUTHORIZED BY PINELLAS COUNTY, FLORIDA. WE WERE FOUNDED TO PROVIDE A STRONG CURRICULUM FOR STUDENTS WHO ARE CONSIDERED EMOTIONALLY MATURE. OUR PROGRAM FOCUSES ON UTILIZING COOPERATIVE LEARNING AND MULTIPLE INTELLIGENCES TO HELP ENSURE OUR STUDENTS HAVE THE SKILLS THEY WILL NEED TO BE SUCCESSFUL IN THEIR FUTURE.Desc
Total Program Service Expenses$8,130,244TotalProgramServiceExpensesAmt
Described In Section501c3Yes (1)DescribedInSection501c3Ind
Schedule B Required0ScheduleBRequiredInd
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 BondsYes (1)TaxExemptBondsInd
Invest Tax Exempt Bonds0InvestTaxExemptBondsInd
Escrow Account0EscrowAccountInd
On Behalf Of Issuer0OnBehalfOfIssuerInd
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 Document32IRPDocumentCnt
IRP Document W2 G0IRPDocumentW2GCnt
Backup Wthld ComplianceYes (1)BackupWthldComplianceInd
Employee127EmployeeCnt
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
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 Members6GoverningBodyVotingMembersCnt
Independent Voting Member6IndependentVotingMemberCnt
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 Policy0WhistleblowerPolicyInd
Document Retention Policy0DocumentRetentionPolicyInd
Compensation Process CEOYes (1)CompensationProcessCEOInd
Compensation Process OtherYes (1)CompensationProcessOtherInd
Investment In Joint Venture0InvestmentInJointVentureInd
Own WebsiteYes (X)OwnWebsiteInd

Books In Care Of Detail BooksInCareOfDetail

Business Name BusinessName

FieldValueIRS element (for citing)
Business Name Line1CharterSage CPA PLLCBusinessNameLine1Txt
FieldValueIRS element (for citing)
Phone3217256151PhoneNum

US Address USAddress

FieldValueIRS element (for citing)
Address Line11800 W Hibiscus Blvd STE 133AddressLine1Txt
CityMELBOURNECityNm
State AbbreviationFLStateAbbreviationCd
ZIP32901ZIPCd

Form990 Part VII Section A Form990PartVIISectionAGrp (6 entries)

TitleTitleTxtAverage Hours Per WeekAverageHoursPerWeekRtIndividual Trustee Or DirectorIndividualTrusteeOrDirectorIndOfficerOfficerIndReportable Comp From OrgReportableCompFromOrgAmtReportable Comp From Rltd OrgReportableCompFromRltdOrgAmtOther CompensationOtherCompensationAmt
Julie Meyers
Chairman4.00Yes (X)Yes (X)$0$0$0
Regan Harvey
Secretary2.00Yes (X)Yes (X)$0$0$0
Mia Cloud
Vice Chair2.00Yes (X)Yes (X)$0$0$0
Dax Tracy
Member at large2.00Yes (X)$0$0$0
Jennifer Howard
Member at large2.00Yes (X)$0$0$0
Amanda Matsumoto-Roberts
Treasurer2.00Yes (X)Yes (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 K1IndivRcvdGreaterThan100KCnt
Former Ofcr Employees Listed0FormerOfcrEmployeesListedInd
Total Comp Greater Than150 K0TotalCompGreaterThan150KInd
Compensation From Other Srcs0CompensationFromOtherSrcsInd

Contractor Compensation ContractorCompensationGrp (5 entries)

Address Line1ContractorAddress/USAddress/AddressLine1TxtCityContractorAddress/USAddress/CityNmState AbbreviationContractorAddress/USAddress/StateAbbreviationCdZIPContractorAddress/USAddress/ZIPCdServicesServicesDescCompensationCompensationAmt
Paycor
4811 Montgomery RoadCincinnatiOH45212Human Resources$5,563,986
Zions Bancorporation NA
1801 Main St 2nd FLHoustonTX77002Interest and fees$499,779
Maschio's Food Services of Florida Inc
525 E Main StreetChesterNJ07930Food service$443,464
Guided Insurance Solutions LLC
4904 Eisenhower Blvd N STE 350TampaFL33634Insurance$149,850
Duke Energy
PO Box 1004CharlotteNC28201Utilities$108,157
FieldValueIRS element (for citing)
Cntrct Rcvd Greater Than100 K5CntrctRcvdGreaterThan100KCnt
Government Grants$8,309,839GovernmentGrantsAmt
All Other Contributions$3,795AllOtherContributionsAmt
Total Contributions$8,313,634TotalContributionsAmt

Program Service Revenue ProgramServiceRevenueGrp (3 entries)

DescDescBusinessBusinessCdTotal Revenue ColumnTotalRevenueColumnAmtRelated Or Exempt Func IncomeRelatedOrExemptFuncIncomeAmt
Student Fees611600$432,436$432,436
BEFORE & AFTER CARE611600$304,236$304,236
OTHER INCOME611600$165,041$165,041
FieldValueIRS element (for citing)
Total Program Service Revenue$901,713TotalProgramServiceRevenueAmt

Investment Income InvestmentIncomeGrp

FieldValueIRS element (for citing)
Total Revenue Column$195,602TotalRevenueColumnAmt
Exclusion$195,602ExclusionAmt

Total Revenue TotalRevenueGrp

FieldValueIRS element (for citing)
Total Revenue Column$9,410,949TotalRevenueColumnAmt
Related Or Exempt Func Income$901,713RelatedOrExemptFuncIncomeAmt
Unrelated Business Revenue$0UnrelatedBusinessRevenueAmt
Exclusion$195,602ExclusionAmt

Other Salaries And Wages OtherSalariesAndWagesGrp

FieldValueIRS element (for citing)
Total$5,456,584TotalAmt
Program Services$4,904,620ProgramServicesAmt
Management And General$551,964ManagementAndGeneralAmt

Pension Plan Contributions PensionPlanContributionsGrp

FieldValueIRS element (for citing)
Total$79,632TotalAmt
Program Services$71,995ProgramServicesAmt
Management And General$7,637ManagementAndGeneralAmt

Other Employee Benefits OtherEmployeeBenefitsGrp

FieldValueIRS element (for citing)
Total$261,881TotalAmt
Program Services$236,764ProgramServicesAmt
Management And General$25,117ManagementAndGeneralAmt

Payroll Taxes PayrollTaxesGrp

FieldValueIRS element (for citing)
Total$398,952TotalAmt
Program Services$360,689ProgramServicesAmt
Management And General$38,263ManagementAndGeneralAmt

Fees For Services Other FeesForServicesOtherGrp

FieldValueIRS element (for citing)
Total$785,840TotalAmt
Program Services$645,458ProgramServicesAmt
Management And General$140,382ManagementAndGeneralAmt

Advertising AdvertisingGrp

FieldValueIRS element (for citing)
Total$33,082TotalAmt
Management And General$33,082ManagementAndGeneralAmt

Office Expenses OfficeExpensesGrp

FieldValueIRS element (for citing)
Total$30,399TotalAmt
Program Services$24,369ProgramServicesAmt
Management And General$6,030ManagementAndGeneralAmt

Information Technology InformationTechnologyGrp

FieldValueIRS element (for citing)
Total$68,167TotalAmt
Program Services$61,350ProgramServicesAmt
Management And General$6,817ManagementAndGeneralAmt

Occupancy OccupancyGrp

FieldValueIRS element (for citing)
Total$209,175TotalAmt
Program Services$187,686ProgramServicesAmt
Management And General$21,489ManagementAndGeneralAmt

Travel TravelGrp

FieldValueIRS element (for citing)
Total$1,479TotalAmt
Program Services$1,183ProgramServicesAmt
Management And General$296ManagementAndGeneralAmt

Interest InterestGrp

FieldValueIRS element (for citing)
Total$355,402TotalAmt
Program Services$319,862ProgramServicesAmt
Management And General$35,540ManagementAndGeneralAmt

Depreciation Depletion DepreciationDepletionGrp

FieldValueIRS element (for citing)
Total$637,948TotalAmt
Program Services$574,153ProgramServicesAmt
Management And General$63,795ManagementAndGeneralAmt

Insurance InsuranceGrp

FieldValueIRS element (for citing)
Total$238,070TotalAmt
Program Services$214,263ProgramServicesAmt
Management And General$23,807ManagementAndGeneralAmt

Other Expenses OtherExpensesGrp (4 entries)

DescDescTotalTotalAmtProgram ServicesProgramServicesAmtManagement And GeneralManagementAndGeneralAmt
Dues & Fees$214,060$192,654$21,406
STUDENT ACTIVITIES$170,415$170,415
Repairs & Maintenance$95,579$86,021$9,558
SUPPLIES$83,279$83,279

All Other Expenses AllOtherExpensesGrp

FieldValueIRS element (for citing)
Total$92,831TotalAmt
Program Services$78,762ProgramServicesAmt
Management And General$14,069ManagementAndGeneralAmt

Total Functional Expenses TotalFunctionalExpensesGrp

FieldValueIRS element (for citing)
Total$9,212,775TotalAmt
Program Services$8,130,244ProgramServicesAmt
Management And General$1,082,531ManagementAndGeneralAmt
Fundraising$0FundraisingAmt

Cash Non Interest Bearing CashNonInterestBearingGrp

FieldValueIRS element (for citing)
BOY$1,904,091BOYAmt
EOY$2,529,587EOYAmt

Savings And Temp Cash Invst SavingsAndTempCashInvstGrp

FieldValueIRS element (for citing)
BOY$372,997BOYAmt
EOY$525,279EOYAmt

Accounts Receivable AccountsReceivableGrp

FieldValueIRS element (for citing)
BOY$1,928,281BOYAmt
EOY$1,292,650EOYAmt

Prepaid Expenses Defrd Charges PrepaidExpensesDefrdChargesGrp

FieldValueIRS element (for citing)
BOY$160,023BOYAmt
EOY$55,067EOYAmt
FieldValueIRS element (for citing)
Land Bldg Equip Cost Or Other Bss$14,598,729LandBldgEquipCostOrOtherBssAmt
Land Bldg Equip Accum Deprec$5,278,399LandBldgEquipAccumDeprecAmt

Land Bldg Equip Basis Net LandBldgEquipBasisNetGrp

FieldValueIRS element (for citing)
BOY$9,093,223BOYAmt
EOY$9,320,330EOYAmt

Total Assets TotalAssetsGrp

FieldValueIRS element (for citing)
BOY$13,458,615BOYAmt
EOY$13,722,913EOYAmt

Accounts Payable Accr Expnss AccountsPayableAccrExpnssGrp

FieldValueIRS element (for citing)
BOY$328,262BOYAmt
EOY$746,754EOYAmt

Tax Exempt Bond Liabilities TaxExemptBondLiabilitiesGrp

FieldValueIRS element (for citing)
BOY$1,300,000BOYAmt
EOY$1,300,000EOYAmt

Other Liabilities OtherLiabilitiesGrp

FieldValueIRS element (for citing)
BOY$7,354,175BOYAmt
EOY$7,035,722EOYAmt

Total Liabilities TotalLiabilitiesGrp

FieldValueIRS element (for citing)
BOY$8,982,437BOYAmt
EOY$9,082,476EOYAmt
FieldValueIRS element (for citing)
Organization Follows FASB117Yes (X)OrganizationFollowsFASB117Ind

No Donor Restriction Net Assets NoDonorRestrictionNetAssetsGrp

FieldValueIRS element (for citing)
BOY$4,476,178BOYAmt
EOY$4,640,437EOYAmt

Total Net Assets Fund Balance TotalNetAssetsFundBalanceGrp

FieldValueIRS element (for citing)
BOY$4,476,178BOYAmt
EOY$4,640,437EOYAmt

Tot Liab Net Assets Fund Balance TotLiabNetAssetsFundBalanceGrp

FieldValueIRS element (for citing)
BOY$13,458,615BOYAmt
EOY$13,722,913EOYAmt
FieldValueIRS element (for citing)
Info In Schedule O Part XIYes (X)InfoInScheduleOPartXIInd
Reconcilation Revenue Expnss$198,174ReconcilationRevenueExpnssAmt
Prior Period Adjustments-$33,915PriorPeriodAdjustmentsAmt
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)
Consolidated Basis Fincl StmtYes (X)ConsolidatedBasisFinclStmtInd
FieldValueIRS element (for citing)
Audit CommitteeYes (1)AuditCommitteeInd
Federal Grant Audit Required0FederalGrantAuditRequiredInd

Schedule A IRS990ScheduleA

FieldValueIRS element (for citing)
SchoolYes (X)SchoolInd

Schedule D IRS990ScheduleD

Land LandGrp

FieldValueIRS element (for citing)
Investment Cost Or Other Basis$1,093,667InvestmentCostOrOtherBasisAmt
Book Value$1,093,667BookValueAmt

Buildings BuildingsGrp

FieldValueIRS element (for citing)
Investment Cost Or Other Basis$10,456,224InvestmentCostOrOtherBasisAmt
Depreciation$3,251,397DepreciationAmt
Book Value$7,204,827BookValueAmt

Equipment EquipmentGrp

FieldValueIRS element (for citing)
Investment Cost Or Other Basis$3,048,838InvestmentCostOrOtherBasisAmt
Depreciation$2,027,002DepreciationAmt
Book Value$1,021,836BookValueAmt
FieldValueIRS element (for citing)
Total Book Value Land Buildings$9,320,330TotalBookValueLandBuildingsAmt

Other Liabilities Org OtherLiabilitiesOrgGrp

FieldValueIRS element (for citing)
DescTaxable Educational Facilities BondsDesc
Amt$7,035,722Amt
FieldValueIRS element (for citing)
Total Liability$7,035,722TotalLiabilityAmt
Footnote TextYes (X)FootnoteTextInd
Total Rev Etc Audited Fincl Stmt$9,410,949TotalRevEtcAuditedFinclStmtAmt
Revenue Not Reported$0RevenueNotReportedAmt
Revenue Subtotal$9,410,949RevenueSubtotalAmt
Revenue Not Reported Fincl Stmt$0RevenueNotReportedFinclStmtAmt
Total Revenue Per Form990$9,410,949TotalRevenuePerForm990Amt
Tot Expns Etc Audited Fincl Stmt$9,212,775TotExpnsEtcAuditedFinclStmtAmt
Expenses Not Reported$0ExpensesNotReportedAmt
Expenses Subtotal$9,212,775ExpensesSubtotalAmt
Expenses Not Rpt Fincl Stmt$0ExpensesNotRptFinclStmtAmt
Total Expenses Per Form990$9,212,775TotalExpensesPerForm990Amt

Supplemental Information Detail SupplementalInformationDetail

FieldValueIRS element (for citing)
Form And Line ReferencePart X, Line 2:FormAndLineReferenceDesc
ExplanationPinellas Preparatory Academy, Inc. qualifies as a tax-exempt organization under Internal Revenue Code Section 501(c)(3), and is, therefore, exempt from income tax. Accordingly, no tax provision has been made in the accompanying financial statements. The organization adopted FASB ASC 740, accounting for uncertainties in income taxes, which provides guidance for financial statement recognition and measurement of uncertain tax positions taken or expected to be taken in a tax return for open tax years (generally a period of three years from the later of each return's due date or the date filed) that remain subject to examination. Adoption had no effect on the organization's financial statements.ExplanationTxt

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 RecsYes (1)MaintainScholarshipsRecsInd
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 Rcvd0GovernmentFinancialAidRcvdInd
Government Financial Aid Rvkd0GovernmentFinancialAidRvkdInd
Compliance With Rev Proc7550Yes (1)ComplianceWithRevProc7550Ind

Schedule K IRS990ScheduleK

Tax Exempt Bonds Issues TaxExemptBondsIssuesGrp

FieldValueIRS element (for citing)
Bond ReferenceABondReferenceCd

Issuer Name IssuerName

FieldValueIRS element (for citing)
Business Name Line1Pinellas County Educational Facilities AuthorityBusinessNameLine1Txt
FieldValueIRS element (for citing)
Bond Issuer EIN596000800BondIssuerEIN
CUSIP000000000CUSIPNum
Bond Issued2019-06-14BondIssuedDt
Issue Price$1,300,000IssuePriceAmt
PurposeCONSTRUCTION OF SCHOOL FACILITIESPurposeDesc
Defeased0DefeasedInd
On Behalf Of Issuer0OnBehalfOfIssuerInd
Pool Financing0PoolFinancingInd

Tax Exempt Bonds Proceeds TaxExemptBondsProceedsGrp

FieldValueIRS element (for citing)
Bond ReferenceABondReferenceCd
Total Proceeds$1,300,000TotalProceedsAmt
In Reserve Fund$372,997InReserveFundAmt
Capital Expenditures$927,003CapitalExpendituresAmt
Refunding Tax Exempt Bonds0RefundingTaxExemptBondsInd
Refunding Taxable Bonds0RefundingTaxableBondsInd
Final Allocation Made0FinalAllocationMadeInd
Adequate Books And Rec Maint0AdequateBooksAndRecMaintInd

Tax Exempt Bonds Private Bus Use TaxExemptBondsPrivateBusUseGrp

FieldValueIRS element (for citing)
Bond ReferenceABondReferenceCd
Owning Bond Financed Property0OwningBondFinancedPropertyInd
Any Lease Arrangements0AnyLeaseArrangementsInd
Mgmt Contract Bond Fincd Prop0MgmtContractBondFincdPropInd
Any Research Agreements0AnyResearchAgreementsInd
Bond Iss Meet Prvt Sec Pymt Test0BondIssMeetPrvtSecPymtTestInd
Change In Use Bond Financed Prop0ChangeInUseBondFinancedPropInd
Procs Nonqualified Bond Remdtd0ProcsNonqualifiedBondRemdtdInd

Tax Exempt Bonds Arbitrage TaxExemptBondsArbitrageGrp

FieldValueIRS element (for citing)
Bond ReferenceABondReferenceCd
Form8038 T Filed0Form8038TFiledInd
Rebate Not Due Yet0RebateNotDueYetInd
Exception To Rebate0ExceptionToRebateInd
No Rebate Due0NoRebateDueInd
Variable Rate Issue0VariableRateIssueInd
Hedge Identified In Bks And Rec0HedgeIdentifiedInBksAndRecInd
Gross Proceeds Invested In GIC0GrossProceedsInvestedInGICInd
Gross Proceeds Invested0GrossProceedsInvestedInd
Written Proc To Monitor Reqs0WrittenProcToMonitorReqsInd

Procedures Corrective Action ProceduresCorrectiveActionGrp

FieldValueIRS element (for citing)
Bond ReferenceABondReferenceCd
Procedures Corrective Action0ProceduresCorrectiveActionInd

Schedule O IRS990ScheduleO

Supplemental Information Detail SupplementalInformationDetail (4 entries)

Form And Line ReferenceFormAndLineReferenceDescExplanationExplanationTxt
Form 990, Part VI, Section B, line 11bThe finance committee reviews and approves a draft copy of the form 990 before it is filed.
Form 990, Part VI, Section B, line 15Authorizing school district publishes a salary range for administrators principal's salaries are determined based on the range. Board officers are not compensated. Other employee compensation is based on the district school board salary ranges.
Form 990, Part VI, Section C, line 19available on the school's website.
FORM 990, PART XI Reconciliation of net assetsEffective July 1, 2024, the School implemented GASB Statement No. 101, Compensated Absences. Compensated absences payable consists of leave benefits, paid time off, that employees earned based on services already rendered. Compensated absences are recognized as a liability when the leave accumulates, is attributable to past service, and it is more likely than not that the leave will be used or paid. As a result, a prior period adjustment for $33,915 was recorded to restate pior year net assets in conformity with our audited financial statements.

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