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FREEDOM PREPARATORY ACADEMY INC: Form 990, tax year 2023

View the entire original 990 at ProPublica ↗

Organization
FREEDOM PREPARATORY ACADEMY INC (EIN 26-1342579)
Tax period
2023-07-01 to 2024-06-30
Filed
2025-02-25
IRS object ID
202510569349301621
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)
Return2025-02-25T16:16:16-06:00ReturnTs
Tax Period End2024-06-30TaxPeriodEndDt

Preparer Firm PreparerFirmGrp

FieldValueIRS element (for citing)
Preparer Firm EIN410746749PreparerFirmEIN

Preparer Firm Name PreparerFirmName

FieldValueIRS element (for citing)
Business Name Line1CLIFTONLARSONALLEN LLPBusinessNameLine1Txt

Preparer US Address PreparerUSAddress

FieldValueIRS element (for citing)
Address Line12210 EAST ROUTE 66AddressLine1Txt
CityGLENDORACityNm
State AbbreviationCAStateAbbreviationCd
ZIP91740ZIPCd
FieldValueIRS element (for citing)
Return Type990ReturnTypeCd
Tax Period Begin2023-07-01TaxPeriodBeginDt

Filer Filer

FieldValueIRS element (for citing)
EIN261342579EIN

Business Name BusinessName

FieldValueIRS element (for citing)
Business Name Line1FREEDOM PREPARATORY ACADEMY INCBusinessNameLine1Txt
FieldValueIRS element (for citing)
Business Name ControlFREEBusinessNameControlTxt
Phone9018284590PhoneNum

US Address USAddress

FieldValueIRS element (for citing)
Address Line15132 JONETTA STREETAddressLine1Txt
CityMEMPHISCityNm
State AbbreviationTNStateAbbreviationCd
ZIP38109ZIPCd

Business Officer BusinessOfficerGrp

FieldValueIRS element (for citing)
PersonANIKA BALTIMOREPersonNm
Person TitleCFOPersonTitleTxt
Phone9018284590PhoneNum
Signature2025-02-20SignatureDt
Discuss With Paid PreparerYes (1)DiscussWithPaidPreparerInd
FieldValueIRS element (for citing)
IRS Responsible Prty Info Curr0IRSResponsiblePrtyInfoCurrInd

Preparer Person PreparerPersonGrp

FieldValueIRS element (for citing)
Preparer PersonWADE MCMULLENPreparerPersonNm
PTINP00541671PTIN
Phone6268577300PhoneNum
Preparation2025-02-16PreparationDt
FieldValueIRS element (for citing)
Tax2023TaxYr
Build TS2025-03-06 01:10:19ZBuildTS

Form 990 IRS990

FieldValueIRS element (for citing)
Principal OfficerANIKA BALTIMOREPrincipalOfficerNm
Gross Receipts$35,371,672GrossReceiptsAmt
Group Return For Affiliates0GroupReturnForAffiliatesInd
Organization501c3Yes (X)Organization501c3Ind
Website AddressWWW.FREEDOMPREP.ORGWebsiteAddressTxt
Type Of Organization CorpYes (X)TypeOfOrganizationCorpInd
Formation2008FormationYr
Legal Domicile StateTNLegalDomicileStateCd
Activity Or MissionFREEDOM PREPARATORY ACADEMY PREPARES ALL STUDENTS IN GRADES K-12 TO EXCEL IN COLLEGE AND IN LIFE. IT'S FOCUS IS A CLEAR STRATEGIC AND DIRECT PATH TO COLLEGE FOR EVERY STUDENT THAT ENTERS OUR DOORS.ActivityOrMissionDesc
Voting Members Governing Body7VotingMembersGoverningBodyCnt
Voting Members Independent7VotingMembersIndependentCnt
Total Employee378TotalEmployeeCnt
Total Volunteers70TotalVolunteersCnt
Total Gross UBI$0TotalGrossUBIAmt
Net Unrelated Bus Txbl Incm$0NetUnrelatedBusTxblIncmAmt
PY Contributions Grants$38,550,059PYContributionsGrantsAmt
CY Contributions Grants$34,511,322CYContributionsGrantsAmt
PY Program Service Revenue$1,122,003PYProgramServiceRevenueAmt
CY Program Service Revenue$860,350CYProgramServiceRevenueAmt
PY Investment Income$0PYInvestmentIncomeAmt
CY Investment Income$0CYInvestmentIncomeAmt
PY Other Revenue$0PYOtherRevenueAmt
CY Other Revenue$0CYOtherRevenueAmt
PY Total Revenue$39,672,062PYTotalRevenueAmt
CY Total Revenue$35,371,672CYTotalRevenueAmt
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$16,813,950PYSalariesCompEmpBnftPaidAmt
CY Salaries Comp Emp Bnft Paid$19,694,086CYSalariesCompEmpBnftPaidAmt
PY Total Prof Fndrsng Expns$0PYTotalProfFndrsngExpnsAmt
CY Total Prof Fndrsng Expns$0CYTotalProfFndrsngExpnsAmt
CY Total Fundraising Expense$0CYTotalFundraisingExpenseAmt
PY Other Expenses$12,173,319PYOtherExpensesAmt
CY Other Expenses$13,411,256CYOtherExpensesAmt
PY Total Expenses$28,987,269PYTotalExpensesAmt
CY Total Expenses$33,105,342CYTotalExpensesAmt
PY Revenues Less Expenses$10,684,793PYRevenuesLessExpensesAmt
CY Revenues Less Expenses$2,266,330CYRevenuesLessExpensesAmt
Total Assets BOY$55,628,959TotalAssetsBOYAmt
Total Assets EOY$57,538,612TotalAssetsEOYAmt
Total Liabilities BOY$26,929,991TotalLiabilitiesBOYAmt
Total Liabilities EOY$26,601,563TotalLiabilitiesEOYAmt
Net Assets Or Fund Balances BOY$28,698,968NetAssetsOrFundBalancesBOYAmt
Net Assets Or Fund Balances EOY$30,937,049NetAssetsOrFundBalancesEOYAmt
MissionFREEDOM PREPARATORY ACADEMY PREPARES ALL STUDENTS IN GRADES K-12 TO EXCEL IN COLLEGE AND IN LIFE. IT'S FOCUS IS A CLEAR STRATEGIC AND DIRECT PATH TO COLLEGE FOR EVERY STUDENT THAT ENTERS OUR DOORS.MissionDesc
Significant New Program Srvc0SignificantNewProgramSrvcInd
Significant Change0SignificantChangeInd
Expense$20,951,834ExpenseAmt
Revenue$860,350RevenueAmt
DescFREEDOM PREP ACCOMPLISHES THIS MISSION OF COLLEGE PREPARATION THROUGH A HIGHLY STRUCTURED, CADEMICALLY-CHALLENGING ENVIRONMENT WHERE STUDENTS MASTER THE CORE SUBJECTS, DEVELOP ADVANCED ACADEMIC SKILLS, PARTICIPATE IN CHARACTER-BUILDING EXTRA-CURRICULAR ACTIVITIES AND SPORTS, AND DEMONSTRATE THE SCHOOL'S CORE VALUES.Desc
Total Program Service Expenses$20,951,834TotalProgramServiceExpensesAmt
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 LiabilitiesYes (1)ReportOtherLiabilitiesInd
Include FIN48 FootnoteYes (1)IncludeFIN48FootnoteInd
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 RequiredYes (1)ScheduleJRequiredInd
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 Document165IRPDocumentCnt
IRP Document W2 G0IRPDocumentW2GCnt
Backup Wthld ComplianceYes (1)BackupWthldComplianceInd
Employee378EmployeeCnt
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 Members7GoverningBodyVotingMembersCnt
Independent Voting Member7IndependentVotingMemberCnt
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 CEOYes (1)CompensationProcessCEOInd
Compensation Process OtherYes (1)CompensationProcessOtherInd
Investment In Joint Venture0InvestmentInJointVentureInd
States Where Copy Of Return Is FldTNStatesWhereCopyOfReturnIsFldCd
Upon RequestYes (X)UponRequestInd

Books In Care Of Detail BooksInCareOfDetail

Business Name BusinessName

FieldValueIRS element (for citing)
Business Name Line1ANIKA BALTIMOREBusinessNameLine1Txt
FieldValueIRS element (for citing)
Phone9018284590PhoneNum

US Address USAddress

FieldValueIRS element (for citing)
Address Line1CFOAddressLine1Txt
CityMEMPHISCityNm
State AbbreviationTNStateAbbreviationCd
ZIP38109ZIPCd

Form990 Part VII Section A Form990PartVIISectionAGrp (14 entries)

TitleTitleTxtAverage Hours Per WeekAverageHoursPerWeekRtIndividual Trustee Or DirectorIndividualTrusteeOrDirectorIndOfficerOfficerIndReportable Comp From OrgReportableCompFromOrgAmtReportable Comp From Rltd OrgReportableCompFromRltdOrgAmtOther CompensationOtherCompensationAmtHighest Compensated EmployeeHighestCompensatedEmployeeInd
CARDELL ORRIN
CHAIRMAN1.00Yes (X)Yes (X)$0$0$0
BRUCE LANDAU
SECRETARY1.00Yes (X)Yes (X)$0$0$0
RICH BILLINGS
TREASURER1.00Yes (X)Yes (X)$0$0$0
JOHN CORNES
MEMBER1.00Yes (X)$0$0$0
ANDRE GIBSON
MEMBER1.00Yes (X)$0$0$0
MICHELLE MERCADO
MEMBER1.00Yes (X)$0$0$0
KIM POST
MEMBER1.00Yes (X)$0$0$0
ROBLIN WEBB
CEO/FOUNDER40.00Yes (X)$285,771$0$18,531
RHONDA MYLES
CTO40.00Yes (X)$78,449$0$8,242
JOHNECIA HOWARD
COO40.00Yes (X)$98,089$0$13,483
ANIKA BALTIMORE
CFO40.00Yes (X)$161,211$0$14,540
NATASHA SMITH
HEAD OF SCHOOL40.00$102,625$0$17,407Yes (X)
RODERICK BARBER
HEAD OF SCHOOL40.00$102,371$0$16,972Yes (X)
SHAYLA MORGAN
PRINCIPAL40.00$103,716$0$15,959Yes (X)
FieldValueIRS element (for citing)
Total Reportable Comp From Org$932,232TotalReportableCompFromOrgAmt
Tot Reportable Comp Rltd Org$0TotReportableCompRltdOrgAmt
Total Other Compensation$105,134TotalOtherCompensationAmt
Indiv Rcvd Greater Than100 K5IndivRcvdGreaterThan100KCnt
Former Ofcr Employees Listed0FormerOfcrEmployeesListedInd
Total Comp Greater Than150 KYes (1)TotalCompGreaterThan150KInd
Compensation From Other Srcs0CompensationFromOtherSrcsInd

Contractor Compensation ContractorCompensationGrp (5 entries)

Address Line1ContractorAddress/USAddress/AddressLine1TxtCityContractorAddress/USAddress/CityNmState AbbreviationContractorAddress/USAddress/StateAbbreviationCdZIPContractorAddress/USAddress/ZIPCdServicesServicesDescCompensationCompensationAmt
DAKOTA CORPORATION
3121 SANDBROOK STMEMPHISTN38116ROOFING$1,554,275
SLA MANAGEMENT INC
3217 CORRINE DRIVEORLANDOFL32803FOOD SERVICE MANAGEMENT$1,501,566
A&B CONSTRUCTION
5091 FILFOND ROADMEMPHISTN39134CONSTRUCTION SERVICES$954,969
HARMONY TRANSPORTATION
2601 FRISCO AVEMEMPHISTN38114STUDENT TRANSPORTATION$769,239
ABM INDUSTRIES INC
3331 MILLBRANCH ROADMEMPHISTN38116FACILITY SERVICES$622,006
FieldValueIRS element (for citing)
Cntrct Rcvd Greater Than100 K16CntrctRcvdGreaterThan100KCnt
Government Grants$32,900,971GovernmentGrantsAmt
All Other Contributions$1,610,351AllOtherContributionsAmt
Total Contributions$34,511,322TotalContributionsAmt

Program Service Revenue ProgramServiceRevenueGrp

FieldValueIRS element (for citing)
DescMISCELLANEOUS SCHOOL-RELATED REVEDesc
Business611600BusinessCd
Total Revenue Column$860,350TotalRevenueColumnAmt
Related Or Exempt Func Income$860,350RelatedOrExemptFuncIncomeAmt
FieldValueIRS element (for citing)
Total Program Service Revenue$860,350TotalProgramServiceRevenueAmt

Total Revenue TotalRevenueGrp

FieldValueIRS element (for citing)
Total Revenue Column$35,371,672TotalRevenueColumnAmt
Related Or Exempt Func Income$860,350RelatedOrExemptFuncIncomeAmt
Unrelated Business Revenue$0UnrelatedBusinessRevenueAmt
Exclusion$0ExclusionAmt

Comp Current Ofcr Directors CompCurrentOfcrDirectorsGrp

FieldValueIRS element (for citing)
Total$789,840TotalAmt
Management And General$789,840ManagementAndGeneralAmt

Other Salaries And Wages OtherSalariesAndWagesGrp

FieldValueIRS element (for citing)
Total$15,315,611TotalAmt
Program Services$12,673,347ProgramServicesAmt
Management And General$2,642,264ManagementAndGeneralAmt

Pension Plan Contributions PensionPlanContributionsGrp

FieldValueIRS element (for citing)
Total$1,098,313TotalAmt
Program Services$937,232ProgramServicesAmt
Management And General$161,081ManagementAndGeneralAmt

Other Employee Benefits OtherEmployeeBenefitsGrp

FieldValueIRS element (for citing)
Total$1,312,647TotalAmt
Program Services$1,110,117ProgramServicesAmt
Management And General$202,530ManagementAndGeneralAmt

Payroll Taxes PayrollTaxesGrp

FieldValueIRS element (for citing)
Total$1,177,675TotalAmt
Program Services$974,501ProgramServicesAmt
Management And General$203,174ManagementAndGeneralAmt

Fees For Services Legal FeesForServicesLegalGrp

FieldValueIRS element (for citing)
Total$26,651TotalAmt
Management And General$26,651ManagementAndGeneralAmt

Fees For Services Accounting FeesForServicesAccountingGrp

FieldValueIRS element (for citing)
Total$81,577TotalAmt
Management And General$81,577ManagementAndGeneralAmt

Fees For Services Other FeesForServicesOtherGrp

FieldValueIRS element (for citing)
Total$2,984,756TotalAmt
Program Services$686,494ProgramServicesAmt
Management And General$2,298,262ManagementAndGeneralAmt

Advertising AdvertisingGrp

FieldValueIRS element (for citing)
Total$51,418TotalAmt
Management And General$51,418ManagementAndGeneralAmt

Office Expenses OfficeExpensesGrp

FieldValueIRS element (for citing)
Total$616,501TotalAmt
Program Services$315,627ProgramServicesAmt
Management And General$300,874ManagementAndGeneralAmt

Information Technology InformationTechnologyGrp

FieldValueIRS element (for citing)
Total$395,103TotalAmt
Program Services$118,531ProgramServicesAmt
Management And General$276,572ManagementAndGeneralAmt

Occupancy OccupancyGrp

FieldValueIRS element (for citing)
Total$1,527,674TotalAmt
Program Services$458,302ProgramServicesAmt
Management And General$1,069,372ManagementAndGeneralAmt

Travel TravelGrp

FieldValueIRS element (for citing)
Total$124,115TotalAmt
Management And General$124,115ManagementAndGeneralAmt

Interest InterestGrp

FieldValueIRS element (for citing)
Total$975,638TotalAmt
Management And General$975,638ManagementAndGeneralAmt

Depreciation Depletion DepreciationDepletionGrp

FieldValueIRS element (for citing)
Total$1,905,890TotalAmt
Program Services$571,767ProgramServicesAmt
Management And General$1,334,123ManagementAndGeneralAmt

Insurance InsuranceGrp

FieldValueIRS element (for citing)
Total$338,055TotalAmt
Management And General$338,055ManagementAndGeneralAmt

Other Expenses OtherExpensesGrp (4 entries)

DescDescTotalTotalAmtProgram ServicesProgramServicesAmtManagement And GeneralManagementAndGeneralAmt
FOOD SERVICE$1,522,202$1,522,202
OTHER MISCELLANEOUS$1,266,578$379,974$886,604
REPAIRS AND MAINTENANCE$551,707$165,512$386,195
INSTRUCTIONAL MATERIALS$527,079$527,079

All Other Expenses AllOtherExpensesGrp

FieldValueIRS element (for citing)
Total$516,312TotalAmt
Program Services$511,149ProgramServicesAmt
Management And General$5,163ManagementAndGeneralAmt

Total Functional Expenses TotalFunctionalExpensesGrp

FieldValueIRS element (for citing)
Total$33,105,342TotalAmt
Program Services$20,951,834ProgramServicesAmt
Management And General$12,153,508ManagementAndGeneralAmt
Fundraising$0FundraisingAmt

Cash Non Interest Bearing CashNonInterestBearingGrp

FieldValueIRS element (for citing)
BOY$14,325,973BOYAmt
EOY$14,174,693EOYAmt

Savings And Temp Cash Invst SavingsAndTempCashInvstGrp

FieldValueIRS element (for citing)
BOY$309,357BOYAmt

Pledges And Grants Receivable PledgesAndGrantsReceivableGrp

FieldValueIRS element (for citing)
BOY$312,991BOYAmt
EOY$974,682EOYAmt

Accounts Receivable AccountsReceivableGrp

FieldValueIRS element (for citing)
BOY$999,570BOYAmt
EOY$3,648EOYAmt

Prepaid Expenses Defrd Charges PrepaidExpensesDefrdChargesGrp

FieldValueIRS element (for citing)
BOY$289,190BOYAmt
EOY$49,972EOYAmt
FieldValueIRS element (for citing)
Land Bldg Equip Cost Or Other Bss$42,329,567LandBldgEquipCostOrOtherBssAmt
Land Bldg Equip Accum Deprec$6,804,186LandBldgEquipAccumDeprecAmt

Land Bldg Equip Basis Net LandBldgEquipBasisNetGrp

FieldValueIRS element (for citing)
BOY$31,980,190BOYAmt
EOY$35,525,381EOYAmt

Intangible Assets IntangibleAssetsGrp

FieldValueIRS element (for citing)
BOY$1,805,250BOYAmt
EOY$669,886EOYAmt

Other Assets Total OtherAssetsTotalGrp

FieldValueIRS element (for citing)
BOY$5,606,438BOYAmt
EOY$6,140,350EOYAmt

Total Assets TotalAssetsGrp

FieldValueIRS element (for citing)
BOY$55,628,959BOYAmt
EOY$57,538,612EOYAmt

Accounts Payable Accr Expnss AccountsPayableAccrExpnssGrp

FieldValueIRS element (for citing)
BOY$2,156,826BOYAmt
EOY$1,395,464EOYAmt

Mortg Notes Pybl Scrd Invst Prop MortgNotesPyblScrdInvstPropGrp

FieldValueIRS element (for citing)
BOY$21,573,263BOYAmt
EOY$21,173,860EOYAmt

Other Liabilities OtherLiabilitiesGrp

FieldValueIRS element (for citing)
BOY$3,199,902BOYAmt
EOY$4,032,239EOYAmt

Total Liabilities TotalLiabilitiesGrp

FieldValueIRS element (for citing)
BOY$26,929,991BOYAmt
EOY$26,601,563EOYAmt
FieldValueIRS element (for citing)
Org Does Not Follow FASB117Yes (X)OrgDoesNotFollowFASB117Ind

Cap Stk Tr Prin Current Funds CapStkTrPrinCurrentFundsGrp

FieldValueIRS element (for citing)
BOY$28,698,968BOYAmt
EOY$30,937,049EOYAmt

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$0BOYAmt
EOY$0EOYAmt

Total Net Assets Fund Balance TotalNetAssetsFundBalanceGrp

FieldValueIRS element (for citing)
BOY$28,698,968BOYAmt
EOY$30,937,049EOYAmt

Tot Liab Net Assets Fund Balance TotLiabNetAssetsFundBalanceGrp

FieldValueIRS element (for citing)
BOY$55,628,959BOYAmt
EOY$57,538,612EOYAmt
FieldValueIRS element (for citing)
Reconcilation Revenue Expnss$2,266,330ReconcilationRevenueExpnssAmt
Prior Period Adjustments-$28,249PriorPeriodAdjustmentsAmt
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 Committee0AuditCommitteeInd
Federal Grant Audit RequiredYes (1)FederalGrantAuditRequiredInd
Federal Grant Audit PerformedYes (1)FederalGrantAuditPerformedInd

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

Buildings BuildingsGrp

FieldValueIRS element (for citing)
Other Cost Or Other Basis$35,482,498OtherCostOrOtherBasisAmt
Depreciation$2,641,239DepreciationAmt
Book Value$32,841,259BookValueAmt

Leasehold Improvements LeaseholdImprovementsGrp

FieldValueIRS element (for citing)
Other Cost Or Other Basis$1,410,748OtherCostOrOtherBasisAmt
Depreciation$370,522DepreciationAmt
Book Value$1,040,226BookValueAmt

Equipment EquipmentGrp

FieldValueIRS element (for citing)
Other Cost Or Other Basis$5,408,592OtherCostOrOtherBasisAmt
Depreciation$3,792,425DepreciationAmt
Book Value$1,616,167BookValueAmt

Other Land Buildings OtherLandBuildingsGrp

FieldValueIRS element (for citing)
Other Cost Or Other Basis$27,729OtherCostOrOtherBasisAmt
Book Value$27,729BookValueAmt
FieldValueIRS element (for citing)
Total Book Value Land Buildings$35,525,381TotalBookValueLandBuildingsAmt

Other Assets Org OtherAssetsOrgGrp (4 entries)

DescDescBook ValueBookValueAmt
NET PENSION ASSET$1,803,108
TCRS STABILIZATION RESERVE TRUST$1,077,298
PENSION RELATED DEFERRED OUTFLOWS$3,244,421
OTHER CURRENT ASSETS$15,523
FieldValueIRS element (for citing)
Total Book Value Other Assets$6,140,350TotalBookValueOtherAssetsAmt

Other Liabilities Org OtherLiabilitiesOrgGrp (5 entries)

DescDescAmtAmt
RETIREMENT CONTRIBUTION PAYABLE$285,366
ACCRUED COMPENSATED ABSENCES$92,862
DEFERRED INFLOWS RELATED TO PENSION$1,104,085
RIGHT TO USE LEASE LIABILITY, DUE WITHIN ONE YEAR$351,503
RIGHT TO USE LEASE LIABILITY, DUE IN MORE THAN ONE YEAR$2,198,423
FieldValueIRS element (for citing)
Total Liability$4,032,239TotalLiabilityAmt
Footnote TextYes (X)FootnoteTextInd
Total Rev Etc Audited Fincl Stmt$35,371,672TotalRevEtcAuditedFinclStmtAmt
Revenue Not Reported$0RevenueNotReportedAmt
Revenue Subtotal$35,371,672RevenueSubtotalAmt
Revenue Not Reported Fincl Stmt$0RevenueNotReportedFinclStmtAmt
Total Revenue Per Form990$35,371,672TotalRevenuePerForm990Amt
Tot Expns Etc Audited Fincl Stmt$33,105,342TotExpnsEtcAuditedFinclStmtAmt
Expenses Not Reported$0ExpensesNotReportedAmt
Expenses Subtotal$33,105,342ExpensesSubtotalAmt
Expenses Not Rpt Fincl Stmt$0ExpensesNotRptFinclStmtAmt
Total Expenses Per Form990$33,105,342TotalExpensesPerForm990Amt

Supplemental Information Detail SupplementalInformationDetail

FieldValueIRS element (for citing)
Form And Line ReferencePART X, LINE 2:FormAndLineReferenceDesc
ExplanationTHE SCHOOL IS A NOT-FOR-PROFIT SCHOOL THAT IS EXEMPT FROM FEDERAL INCOME TAXES UNDER THE INTERNAL REVENUE CODE, CLASSIFIED BY THE INTERNAL REVENUE SERVICE AS OTHER THAN A PRIVATE FOUNDATION AND IS SIMILARLY EXEMPT FROM STATE INCOME TAXES. THE SCHOOL ACCOUNTS FOR THE EFFECT OF ANY UNCERTAIN TAX POSITIONS BASED ON A MORE LIKELY THAN NOT THRESHOLD TO THE RECOGNITION OF THE TAX POSITIONS BEING SUSTAINED BASED ON THE TECHNICAL MERITS OF THE POSITION UNDER EXAMINATION BY THE APPLICABLE TAXING AUTHORITY. IF A TAX POSITION OR POSITIONS ARE DEEMED TO RESULT IN UNCERTAINTIES OF THOSE POSITIONS, THE UNRECOGNIZED TAX BENEFIT IS ESTIMATED BASED ON A CUMULATIVE PROBABILITY ASSESSMENT THAT AGGREGATES THE ESTIMATED TAX LIABILITY FOR ALL UNCERTAIN TAX POSITIONS. TAX POSITIONS INCLUDE, BUT ARE NOT LIMITED TO, THE TAX EXEMPT STATUS AND DETERMINATION OF WHETHER INCOME IS SUBJECT TO UNRELATED BUSINESS INCOME TAX; HOWEVER, MANAGEMENT HAS DETERMINED THAT SUCH TAX POSITIONS DO NOT RESULT IN AN UNCERTAINTY REQUIRING RECOGNITION.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 RcvdYes (1)GovernmentFinancialAidRcvdInd
Government Financial Aid Rvkd0GovernmentFinancialAidRvkdInd
Compliance With Rev Proc7550Yes (1)ComplianceWithRevProc7550Ind

Supplemental Information Detail SupplementalInformationDetail (2 entries)

Form And Line ReferenceFormAndLineReferenceDescExplanationExplanationTxt
SCHEDULE E, PART I, LINE 3A NONDISCRIMINATION STATEMENT IS INCLUDED ON THE SCHOOL'S APPLICATION AND THE NONDISCRIMINATORY POLICIES ARE DISCUSSED AT THE SCHOOL'S OPEN HOUSE.
SCHEDULE E, PART I, LINE 6THE SCHOOL RECEIVES FUNDS FROM THE SHELBY COUNTY SCHOOLS (SCS) AND THE ACHIEVEMENT SCHOOL DISTRICT (ASD) DIVISION OF THE STATE OF TENNESSEE BASED ON A PER-PUPIL ALLOCATION EQUIVALENT. IT ALSO RECEIVES FEDERAL GRANTS AS DIRECT FUNDING AND PASS-THROUGH FUNDING FROM SCS AND ASD.

Schedule J IRS990ScheduleJ

FieldValueIRS element (for citing)
Severance Payment0SeverancePaymentInd
Supplemental Nonqual Rtr Plan0SupplementalNonqualRtrPlanInd
Equity Based Comp Arrngm0EquityBasedCompArrngmInd
Comp Based On Revenue Of Flng Org0CompBasedOnRevenueOfFlngOrgInd
Comp Bsd On Rev Related Orgs0CompBsdOnRevRelatedOrgsInd
Comp Bsd Net Earns Flng Org0CompBsdNetEarnsFlngOrgInd
Comp Bsd Net Earns Rltd Orgs0CompBsdNetEarnsRltdOrgsInd
Any Non Fixed Payments0AnyNonFixedPaymentsInd
Initial Contract Exception0InitialContractExceptionInd

Rltd Org Officer Trst Key Empl RltdOrgOfficerTrstKeyEmplGrp (2 entries)

TitleTitleTxtBase Compensation Filing OrgBaseCompensationFilingOrgAmtCompensation Based On Rltd OrgsCompensationBasedOnRltdOrgsAmtBonus Filing OrganizationBonusFilingOrganizationAmountBonus Related OrganizationsBonusRelatedOrganizationsAmtOther Compensation Filing OrgOtherCompensationFilingOrgAmtOther Compensation Rltd OrgsOtherCompensationRltdOrgsAmtDeferred Compensation Flng OrgDeferredCompensationFlngOrgAmtDeferred Comp Rltd OrgsDeferredCompRltdOrgsAmtNontaxable Benefits Filing OrgNontaxableBenefitsFilingOrgAmtNontaxable Benefits Rltd OrgsNontaxableBenefitsRltdOrgsAmtTotal Compensation Filing OrgTotalCompensationFilingOrgAmtTotal Compensation Rltd OrgsTotalCompensationRltdOrgsAmtComp Report Prior990 Filing OrgCompReportPrior990FilingOrgAmtComp Report Prior990 Rltd OrgsCompReportPrior990RltdOrgsAmt
ROBLIN WEBB
CEO/FOUNDER$221,571$0$64,200$0$0$0$0$0$18,531$0$304,302$0$0$0
ANIKA BALTIMORE
CFO$151,211$0$10,000$0$0$0$0$0$14,540$0$175,751$0$0$0

Schedule K IRS990ScheduleK

Tax Exempt Bonds Issues TaxExemptBondsIssuesGrp

FieldValueIRS element (for citing)
Bond ReferenceABondReferenceCd

Issuer Name IssuerName

FieldValueIRS element (for citing)
Business Name Line1EQUITABLE FACILITIES FUND INCBusinessNameLine1Txt
FieldValueIRS element (for citing)
Bond Issuer EIN822351889BondIssuerEIN
Bond Issued2020-09-16BondIssuedDt
Issue Price$22,000,000IssuePriceAmt
PurposeREFINANCE OUTSTANDING DEBTPurposeDesc
Defeased0DefeasedInd
On Behalf Of Issuer0OnBehalfOfIssuerInd
Pool Financing0PoolFinancingInd

Tax Exempt Bonds Proceeds TaxExemptBondsProceedsGrp

FieldValueIRS element (for citing)
Bond ReferenceABondReferenceCd
Total Proceeds$22,000,000TotalProceedsAmt
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 FiledYes (1)Form8038TFiledInd
Variable Rate Issue0VariableRateIssueInd
Hedge Identified In Bks And Rec0HedgeIdentifiedInBksAndRecInd
Gross Proceeds Invested In GIC0GrossProceedsInvestedInGICInd
Gross Proceeds Invested0GrossProceedsInvestedInd
Written Proc To Monitor Reqs0WrittenProcToMonitorReqsInd

Schedule O IRS990ScheduleO

Supplemental Information Detail SupplementalInformationDetail (3 entries)

Form And Line ReferenceFormAndLineReferenceDescExplanationExplanationTxt
FORM 990, PART VI, SECTION B, LINE 11BIT WILL BE REVIEWED BY CFO AND DISSEMINATED TO THE FINANCIAL COMMITTEE FOR REVIEW.
FORM 990, PART VI, SECTION B, LINE 15CEO'S COMPENSATION IS DETERMINED BY THE BOARD OF DIRECTORS. COMPENSATION OF OTHER TOP MANAGEMENT PERSONNEL IS BASED ON MARKET STUDIES, ASSESSING THE SALARY OF COMPARABLE INCOMES OF COMPARABLE SIZE AND COMPOSITION OF FREEDOM PREP ACADEMY. STUDIES ARE PERFORMED, SIMILAR TO THE PROCESS DESCRIBED ABOVE, HOWEVER IT IS ASSESSED BY AN INDEPENDENT PERSON, OUTSIDE OF THE ORGANIZATION'S MANAGEMENT.
FORM 990, PART VI, SECTION C, LINE 19NO DOCUMENTS AVAILABLE TO THE PUBLIC.

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