PREPARATORY FOUNDATION INC: Form 990, tax year 2010

View the entire original 990 at ProPublica ↗

Organization
PREPARATORY FOUNDATION INC (EIN 11-3690799)
Tax period
2010-07-01 to 2011-06-30
Filed
2012-03-15
IRS object ID
201210799349300231
Schema version
2010v3.4
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)
Timestamp2012-03-15T13:43:50-05:00Timestamp
Tax Period End Date2011-06-30TaxPeriodEndDate

Preparer Firm PreparerFirm

Preparer Firm Business Name PreparerFirmBusinessName

FieldValueIRS element (for citing)
Business Name Line1ALEXANDER ARONSON FINNING & CO PCBusinessNameLine1

Preparer Firm US Address PreparerFirmUSAddress

FieldValueIRS element (for citing)
Address Line121 EAST MAIN STREETAddressLine1
CityWESTBOROCity
StateMAState
ZIP Code01581ZIPCode
FieldValueIRS element (for citing)
Return Type990ReturnType
Tax Period Begin Date2010-07-01TaxPeriodBeginDate

Filer Filer

FieldValueIRS element (for citing)
EIN113690799EIN

Name Name

FieldValueIRS element (for citing)
Business Name Line1PREPARATORY FOUNDATION INCBusinessNameLine1
FieldValueIRS element (for citing)
Name ControlPREPNameControl
Phone6173336688Phone

US Address USAddress

FieldValueIRS element (for citing)
Address Line11286 HYDE PARK AVENUEAddressLine1
CityHYDE PARKCity
StateMAState
ZIP Code02136ZIPCode

Officer Officer

FieldValueIRS element (for citing)
NamePHYLLIS VINEYARDName
TitleTREASURERTitle
Phone6173336688Phone
Date Signed2012-03-01DateSigned
Authorize Third Party1AuthorizeThirdParty

Preparer Preparer

FieldValueIRS element (for citing)
NameJOHN BUCKLEY CPAName
Phone5083669100Phone
Date Prepared2012-03-01DatePrepared
FieldValueIRS element (for citing)
Tax Year2010TaxYear
Build TS2016-02-24 21:20:13ZBuildTS

Form 990 IRS990

FieldValueIRS element (for citing)
Name Of Principal Officer PersonPHYLLIS VINEYARDNameOfPrincipalOfficerPerson

Address Principal Officer US AddressPrincipalOfficerUS

FieldValueIRS element (for citing)
Address Line11286 HYDE PARK AVENUEAddressLine1
CityHYDE PARKCity
StateMAState
ZIP Code02136ZIPCode
FieldValueIRS element (for citing)
Gross Receipts432629GrossReceipts
Group Return For Affiliates0GroupReturnForAffiliates
Organization501c3XOrganization501c3
Web SiteWWW.BOSTONPREP.ORGWebSite
Type Of Organization CorporationXTypeOfOrganizationCorporation
Year Formation2003YearFormation
State Legal DomicileMAStateLegalDomicile
Activity Or Mission DescriptionTO PROVIDE ENHANCEMENT OF EDUCATIONAL COLLEGE PREPARATORY OPPORTUNITIES IN THE BOSTON AREA.ActivityOrMissionDescription
Nbr Voting Members Governing Body6NbrVotingMembersGoverningBody
Nbr Independent Voting Members6NbrIndependentVotingMembers
Total Nbr Employees0TotalNbrEmployees
Total Nbr Volunteers0TotalNbrVolunteers
Total Gross UBI0TotalGrossUBI
Net Unrelated Business Txbl Income0NetUnrelatedBusinessTxblIncome
Contributions Grants Prior Year578118ContributionsGrantsPriorYear
Contributions Grants Current Year431623ContributionsGrantsCurrentYear
Program Service Revenue Prior Year0ProgramServiceRevenuePriorYear
Program Service Revenue CY0ProgramServiceRevenueCY
Investment Income Prior Year2320InvestmentIncomePriorYear
Investment Income Current Year1006InvestmentIncomeCurrentYear
Other Revenue Prior Year0OtherRevenuePriorYear
Other Revenue Current Year0OtherRevenueCurrentYear
Total Revenue Prior Year580438TotalRevenuePriorYear
Total Revenue Current Year432629TotalRevenueCurrentYear
Grants And Similar Amnts Prior Year75000GrantsAndSimilarAmntsPriorYear
Grants And Similar Amnts CY100000GrantsAndSimilarAmntsCY
Benefits Paid To Members Prior Year0BenefitsPaidToMembersPriorYear
Benefits Paid To Members CY0BenefitsPaidToMembersCY
Salaries Etc Prior Year0SalariesEtcPriorYear
Salaries Etc Current Year0SalariesEtcCurrentYear
Total Prof Fundrsng Exp Prior Year0TotalProfFundrsngExpPriorYear
Total Prof Fundrsng Exp CY0TotalProfFundrsngExpCY
Total Fundrsng Exp Current Year0TotalFundrsngExpCurrentYear
Other Expense Prior Year80106OtherExpensePriorYear
Other Expenses Current Year147181OtherExpensesCurrentYear
Total Expenses Prior Year155106TotalExpensesPriorYear
Total Expenses Current Year247181TotalExpensesCurrentYear
Revenues Less Expenses Prior Year425332RevenuesLessExpensesPriorYear
Revenues Less Expenses CY185448RevenuesLessExpensesCY
Total Assets BOY961097TotalAssetsBOY
Total Assets EOY1146545TotalAssetsEOY
Total Liabilities BOY0TotalLiabilitiesBOY
Total Liabilities EOY0TotalLiabilitiesEOY
Net Assets Or Fund Balances BOY961097NetAssetsOrFundBalancesBOY
Net Assets Or Fund Balances EOY1146545NetAssetsOrFundBalancesEOY
Mission DescriptionTO PROVIDE ENHANCEMENT OF EDUCATIONAL COLLEGE PREPARATORY OPPORTUNITIES IN THE BOSTON AREA.MissionDescription
Significant New Program Services0SignificantNewProgramServices
Significant Change0SignificantChange
Expense243459Expense
Grants100000Grants
DescriptionTO PROVIDE ENHANCEMENT OF EDUCATIONAL COLLEGE PREPARATORY OPPORTUNITIES IN THE BOSTON AREA.Description
Total Program Service Expense243459TotalProgramServiceExpense
Described In501 C31DescribedIn501C3
Schedule B Required1ScheduleBRequired
Political Activities0PoliticalActivities
Lobbying Activities0LobbyingActivities
Subject To Proxy Tax0SubjectToProxyTax
Donor Advised Funds0DonorAdvisedFunds
Conservation Easements0ConservationEasements
Collections Of Art0CollectionsOfArt
Credit Counseling0CreditCounseling
Term Or Permanent Endowments0TermOrPermanentEndowments
Report Land Bldg Equip1ReportLandBldgEquip
Report Invest Oth Securities0ReportInvestOthSecurities
Report Prog Rel Invest0ReportProgRelInvest
Report Other Assets0ReportOtherAssets
Report Other Liabilities0ReportOtherLiabilities
Report Fin48 Footnote0ReportFin48Footnote
Independent Audit Financial Stmt0IndependentAuditFinancialStmt
Consolidated Audit Financial Stmt1ConsolidatedAuditFinancialStmt
School0School
Foreign Office0ForeignOffice
Foreign Activities0ForeignActivities
More Than5000 K To Organizations0MoreThan5000KToOrganizations
More Than5000 K To Individuals0MoreThan5000KToIndividuals
Professional Fundraising0ProfessionalFundraising
Fundraising Activities0FundraisingActivities
Gaming0Gaming
Hospital0Hospital
Grants To Organizations1GrantsToOrganizations
Grants To Individuals0GrantsToIndividuals
Schedule J Required0ScheduleJRequired
Tax Exempt Bonds0TaxExemptBonds
Excess Benefit Transaction0ExcessBenefitTransaction
Prior Excess Benefit Transaction0PriorExcessBenefitTransaction
Loan To Officer Or DQP0LoanToOfficerOrDQP
Grant To Related Person0GrantToRelatedPerson
Bsnss Rltnshp With Organization0BsnssRltnshpWithOrganization
Bsnss Rltnshp Thru Family Member0BsnssRltnshpThruFamilyMember
Officer Entity With Bsnss Rltnshp0OfficerEntityWithBsnssRltnshp
Deductible Non Cash Contributions0DeductibleNonCashContributions
Deductible Contributions Of Art0DeductibleContributionsOfArt
Terminated0Terminated
Partial Liquidation0PartialLiquidation
Disregarded Entity0DisregardedEntity
Related Entity0RelatedEntity
Related Org Controlled Entity0RelatedOrgControlledEntity
Transaction Related Entity0TransactionRelatedEntity
Transfers To Exempt Non Chrtbl Org0TransfersToExemptNonChrtblOrg
Activities Conducted Partnership0ActivitiesConductedPartnership
Schedule O Required1ScheduleORequired
Number Forms Transmitted With10960NumberFormsTransmittedWith1096
Number W2 G Included0NumberW2GIncluded
Number Of Employees0NumberOfEmployees
Unrelated Business Income0UnrelatedBusinessIncome
Foreign Financial Account0ForeignFinancialAccount
Prohibited Tax Shelter Trans0ProhibitedTaxShelterTrans
Taxable Party Notification0TaxablePartyNotification
Non Deductible Contributions0NonDeductibleContributions
Quid Pro Quo Contributions1QuidProQuoContributions
Quid Pro Quo Disclosure1QuidProQuoDisclosure
Form8282 Property Disposed Of0Form8282PropertyDisposedOf
Funds To Pay Premiums0FundsToPayPremiums
Premiums Paid0PremiumsPaid
Taxable Distributions0TaxableDistributions
Distribution To Donor0DistributionToDonor
Indoor Tanning Services0IndoorTanningServices
Info In Schedule O Part VIXInfoInScheduleOPartVI
Nbr Voting Governing Body Members6NbrVotingGoverningBodyMembers
Number Independent Voting Members6NumberIndependentVotingMembers
Family Or Business Relationship0FamilyOrBusinessRelationship
Delegation Of Management Duties0DelegationOfManagementDuties
Changes To Organizing Docs0ChangesToOrganizingDocs
Material Diversion Or Misuse0MaterialDiversionOrMisuse
Members Or Stockholders0MembersOrStockholders
Election Of Board Members1ElectionOfBoardMembers
Decisions Subject To Approval0DecisionsSubjectToApproval
Minutes Of Governing Body1MinutesOfGoverningBody
Minutes Of Committees1MinutesOfCommittees
Officer Mailing Address0OfficerMailingAddress
Local Chapters0LocalChapters
Form990 Provided To Governing Body1Form990ProvidedToGoverningBody
Conflict Of Interest Policy1ConflictOfInterestPolicy
Annual Disclosure Covered Persons1AnnualDisclosureCoveredPersons
Regular Monitoring Enforcement1RegularMonitoringEnforcement
Whistleblower Policy1WhistleblowerPolicy
Document Retention Policy1DocumentRetentionPolicy
Compensation Process CEO0CompensationProcessCEO
Compensation Process Other0CompensationProcessOther
Investment In Joint Venture0InvestmentInJointVenture
States Where Copy Of Return Is FiledMAStatesWhereCopyOfReturnIsFiled
Other WebsiteXOtherWebsite
Upon RequestXUponRequest

The Books Are In Care Of TheBooksAreInCareOf

Name Business NameBusiness

FieldValueIRS element (for citing)
Business Name Line1ELIZABETH STASIOWSKIBusinessNameLine1
FieldValueIRS element (for citing)
Telephone Number6173336688TelephoneNumber

Address US AddressUS

FieldValueIRS element (for citing)
Address Line11286 HYDE PARK AVENUEAddressLine1
CityHYDE PARKCity
StateMAState
ZIP Code02136ZIPCode
FieldValueIRS element (for citing)
No Listed Persons CompensatedXNoListedPersonsCompensated

Form990 Part VII Section A Form990PartVIISectionA (6 entries)

TitleTitleAverage Hours Per WeekAverageHoursPerWeekIndividual Trustee Or DirectorIndividualTrusteeOrDirectorReportable Comp From OrganizationReportableCompFromOrganizationReportable Comp From Related OrgsReportableCompFromRelatedOrgsOther CompensationOtherCompensationOfficerOfficer
PRESTON D MCSWAIN
DIRECTOR1.00X000
BRUCE BUXTON
DIRECTOR1.00X000
JOHN GRANDIN
PRESIDENT1.00X000X
DEREK KAUFMAN
DIRECTOR1.00X000
CAROL TAYLOR
SECRETARY1.00X000X
PHYLLIS VINEYARD
TREASURER1.00X000X
FieldValueIRS element (for citing)
Total Reportable Comp From Org0TotalReportableCompFromOrg
Total Reportable Comp Frm Rltd Orgs0TotalReportableCompFrmRltdOrgs
Total Other Compensation0TotalOtherCompensation
Number Individuals GT100 K0NumberIndividualsGT100K
Formers Listed0FormersListed
Total Comp GT150 K0TotalCompGT150K
Compensation From Other Sources0CompensationFromOtherSources
Number Of Contractors GT100 K0NumberOfContractorsGT100K
All Other Contributions431623AllOtherContributions
Total Contributions431623TotalContributions

Investment Income InvestmentIncome

FieldValueIRS element (for citing)
Total Revenue Column1006TotalRevenueColumn
Exclusion$1,006ExclusionAmount

Total Revenue TotalRevenue

FieldValueIRS element (for citing)
Total Revenue Column432629TotalRevenueColumn
Related Or Exempt Function Income0RelatedOrExemptFunctionIncome
Unrelated Business Revenue0UnrelatedBusinessRevenue
Exclusion$1,006ExclusionAmount

Grants To Domestic Orgs GrantsToDomesticOrgs

FieldValueIRS element (for citing)
Total100000Total
Program Services100000ProgramServices

Fees For Services Accounting FeesForServicesAccounting

FieldValueIRS element (for citing)
Total2197Total
Management And General2197ManagementAndGeneral

Fees For Services Other FeesForServicesOther

FieldValueIRS element (for citing)
Total24975Total
Program Services24975ProgramServices

Office Expenses OfficeExpenses

FieldValueIRS element (for citing)
Total15679Total
Program Services15679ProgramServices

Depreciation Depletion DepreciationDepletion

FieldValueIRS element (for citing)
Total99774Total
Program Services99774ProgramServices

Insurance Insurance

FieldValueIRS element (for citing)
Total2025Total
Program Services500ProgramServices
Management And General1525ManagementAndGeneral

Other Expenses OtherExpenses

FieldValueIRS element (for citing)
DescriptionMISCELLANEOUSDescription
Total2531Total
Program Services2531ProgramServices

Total Functional Expenses TotalFunctionalExpenses

FieldValueIRS element (for citing)
Total247181Total
Program Services243459ProgramServices
Management And General3722ManagementAndGeneral
Fundraising0Fundraising

Cash Non Interest Bearing CashNonInterestBearing

FieldValueIRS element (for citing)
BOY10920BOY
EOY12439EOY

Savings And Temp Cash Investments SavingsAndTempCashInvestments

FieldValueIRS element (for citing)
BOY792415BOY
EOY866773EOY

Prepaid Expenses Deferred Charges PrepaidExpensesDeferredCharges

FieldValueIRS element (for citing)
BOY28305BOY
FieldValueIRS element (for citing)
Land Buildings Equipment Basis505705LandBuildingsEquipmentBasis
Land Bldg Equipment Accum Deprec238372LandBldgEquipmentAccumDeprec

Land Buildings Equipment Basis Net LandBuildingsEquipmentBasisNet

FieldValueIRS element (for citing)
BOY129457BOY
EOY267333EOY

Total Assets TotalAssets

FieldValueIRS element (for citing)
BOY961097BOY
EOY1146545EOY

Total Liabilities TotalLiabilities

FieldValueIRS element (for citing)
BOY0BOY
EOY0EOY
FieldValueIRS element (for citing)
Follow SFAS117XFollowSFAS117

Unrestricted Net Assets UnrestrictedNetAssets

FieldValueIRS element (for citing)
BOY785356BOY
EOY1037795EOY

Temporarily Restricted Net Assets TemporarilyRestrictedNetAssets

FieldValueIRS element (for citing)
BOY175741BOY
EOY108750EOY

Total Net Assets Fund Balances TotalNetAssetsFundBalances

FieldValueIRS element (for citing)
BOY961097BOY
EOY1146545EOY

Total Liab Net Assets Fund Balances TotalLiabNetAssetsFundBalances

FieldValueIRS element (for citing)
BOY961097BOY
EOY1146545EOY
FieldValueIRS element (for citing)
Reconcilation Revenue Expenses185448ReconcilationRevenueExpenses
Reconcilation Other Changes0ReconcilationOtherChanges
Info In Schedule O Part XIIXInfoInScheduleOPartXII
Method Of Accounting AccrualXMethodOfAccountingAccrual
Accountant Compile Or Review0AccountantCompileOrReview
FS Audited1FSAudited
Audit Committee1AuditCommittee
Financial Statement ConsolidatedXFinancialStatementConsolidated
Federal Grant Audit Required0FederalGrantAuditRequired

Schedule A IRS990ScheduleA

FieldValueIRS element (for citing)
Publicly Supported Org170b1 AviXPubliclySupportedOrg170b1Avi

Gifts Grants Contrib Received170 GiftsGrantsContribReceived170

FieldValueIRS element (for citing)
Current Tax Year Minus4 Years219893CurrentTaxYearMinus4Years
Current Tax Year Minus3 Years266560CurrentTaxYearMinus3Years
Current Tax Year Minus2 Years363067CurrentTaxYearMinus2Years
Current Tax Year Minus1 Year578118CurrentTaxYearMinus1Year
Current Tax Year431623CurrentTaxYear
Total1859261Total

Total170 Total170

FieldValueIRS element (for citing)
Current Tax Year Minus4 Years219893CurrentTaxYearMinus4Years
Current Tax Year Minus3 Years266560CurrentTaxYearMinus3Years
Current Tax Year Minus2 Years363067CurrentTaxYearMinus2Years
Current Tax Year Minus1 Year578118CurrentTaxYearMinus1Year
Current Tax Year431623CurrentTaxYear
Total1859261Total
FieldValueIRS element (for citing)
Amounts Subst Contributors Total379601AmountsSubstContributorsTotal
Public Support Total1701479660PublicSupportTotal170

Gross Investment Income170 GrossInvestmentIncome170

FieldValueIRS element (for citing)
Current Tax Year Minus4 Years13944CurrentTaxYearMinus4Years
Current Tax Year Minus3 Years12574CurrentTaxYearMinus3Years
Current Tax Year Minus2 Years5502CurrentTaxYearMinus2Years
Current Tax Year Minus1 Year2320CurrentTaxYearMinus1Year
Current Tax Year1006CurrentTaxYear
Total35346Total

Other Income170 OtherIncome170

FieldValueIRS element (for citing)
Current Tax Year Minus3 Years4703CurrentTaxYearMinus3Years
Total4703Total
FieldValueIRS element (for citing)
Total Support1899310TotalSupport
Public Support Pertcentage1700.77910PublicSupportPertcentage170
Public Support Pertcent Prior Year0.74440PublicSupportPertcentPriorYear
Thirty Three Percnt Tests CY170XThirtyThreePercntTestsCY170

Schedule B IRS990ScheduleB

Contributor Info ContributorInfo

FieldValueIRS element (for citing)
Contributor NumberRESTRICTEDContributorNumber

Contributor Name Business ContributorNameBusiness

FieldValueIRS element (for citing)
Business Name Line1RESTRICTEDBusinessNameLine1

Contributor Address US ContributorAddressUS

FieldValueIRS element (for citing)
Address Line1RESTRICTEDAddressLine1
Address Line2RESTRICTEDAddressLine2
CityRESTRICTEDCity
StateRESTRICTEDState
ZIP CodeRESTRICTEDZIPCode
FieldValueIRS element (for citing)
Aggregate ContributionsRESTRICTEDAggregateContributions

Schedule D IRS990ScheduleD

Leasehold Improvements LeaseholdImprovements

FieldValueIRS element (for citing)
Other Cost Or Other Basis500441OtherCostOrOtherBasis
Depreciation236792Depreciation
Book Value263649BookValue

Other Land Buildings OtherLandBuildings

FieldValueIRS element (for citing)
Other Cost Or Other Basis5264OtherCostOrOtherBasis
Depreciation1580Depreciation
Book Value3684BookValue
FieldValueIRS element (for citing)
Total Of Book Value Land Buildings267333TotalOfBookValueLandBuildings
Total Revenue432629TotalRevenue
Total Expenses247181TotalExpenses
Excess Or Deficit For Year185448ExcessOrDeficitForYear
Excess Or Deficit Per FS185448ExcessOrDeficitPerFS

Schedule I IRS990ScheduleI

FieldValueIRS element (for citing)
Records Maintained1RecordsMaintained

Recipient Table RecipientTable

Recipient Name Business RecipientNameBusiness

FieldValueIRS element (for citing)
Business Name Line1BOSTON PREPARATORY CHARTER PUBLIC SCHOOLBusinessNameLine1

Address US AddressUS

FieldValueIRS element (for citing)
Address Line11286 HYDE PARK AVENUEAddressLine1
CityHYDE PARKCity
StateMAState
ZIP Code02136ZIPCode
FieldValueIRS element (for citing)
EIN Of Recipient331053424EINOfRecipient
IRC SectionN/AIRCSection
Amount Of Cash Grant100000AmountOfCashGrant
Purpose Of GrantTO ENHANCE THE EDUCATIONAL PROGRAM OF BOSTON PREPARATORY CHARTER PUBLIC SCHOOL.PurposeOfGrant
FieldValueIRS element (for citing)
Total Nbr Of501 C3 And Govt Grants1TotalNbrOf501C3AndGovtGrants
Total Nbr Of Other Organizations0TotalNbrOfOtherOrganizations

Form990 Schedule I Part IV Form990ScheduleIPartIV

FieldValueIRS element (for citing)
IdentifierPROCEDURE FOR MONITORING GRANTS IN THE U.S.:Identifier
Return ReferencePART I, LINE 2:ReturnReference
ExplanationSCHEDULE I, PART I, LINE 2: THE BOARD OF DIRECTORS APPROVES GRANT AWARDS TO BOSTON PREPARATORY CHARTER PUBLIC SCHOOL.Explanation

Schedule O IRS990ScheduleO

General Explanation GeneralExplanation (5 entries)

IdentifierIdentifierExplanationExplanationReturn ReferenceReturnReference
FORM 990, PART VI, SECTION A, LINE 7ATHE BOARD OF DIRECTORS ELECT NEW BOARD MEMBERS.
FORM 990, PART VI, SECTION B, LINE 11THE HEAD OF SCHOOL AND DIRECTOR OF FINANCE AND OPERATIONS REVIEW THE FEDERAL FORM 990 WHICH IS THEN CIRCULATED TO FINANCE COMMITTEE AND THE BOARD OF DIRECTORS FOR REVIEW BEFORE FILING.
STAFF AND BOARD MEMBERS ANNUALLY REVIEW THE ORGANIZATION'S CONFLICT OF INTEREST POLICY.FORM 990, PART VI, SECTION B, LINE 12C
THE GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS ARE AVAILABLE UPON REQUEST. THE AUDITED FINANCIAL STATEMENTS ARE ALSO AVAILABLE ON WWW.GUIDESTAR.ORGFORM 990, PART VI, SECTION C, LINE 19
THE ORGANIZATION'S FINANCIAL STATEMENTS WERE AUDITED BY AN INDEPENDENT ACCOUNTANT. THE ORGANIZATION HAS A COMMITTEE THAT IS RESPONSIBLE FOR OVERSIGHT OF THE AUDIT. THE ORGANIZATION DID NOT CHANGE ITS OVERSIGHT PROCESS OR SELECTION PROCESS DURING THE TAX YEAR.FORM 990, PART XII, LINE 2C

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