Pine Lake Preparatory Inc
- Assets
- $43.9m
- Revenue
- $18.1m
- Investments
- $0.0
- Employees
- 264
- Location
- Mooresville, NC
- Founding
- 09/2008
- Data as of
- 06/2021
- EIN
- 06-1796895
Organization Overview
Pine Lake Preparatory Inc is located in Mooresville, NC. The organization was established in 2008. According to its NTEE Classification (B29) the organization is classified as: Charter Schools, under the broad grouping of Education and related organizations. As of 06/2021, Pine Lake Preparatory Inc employed 264 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Pine Lake Preparatory Inc is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 06/2021, Pine Lake Preparatory Inc generated $18.1m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 2.9% each year. All expenses for the organization totaled $18.1m during the year ending 06/2021. While expenses have increased by 1.3% per year over the past 7 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
OPERATION OF A PUBLIC CHARTER SCHOOL.
Describe the Organization's Program Activity:
Part 3 - Line 4a
OPERATION OF A CHARTER SCHOOL IN MOORESVILLE, NORTH CAROLINA, SERVING APPROXIMATELY 1,847 STUDENTS FOR THE FISCAL YEAR ENDED JUNE 30, 2021.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Andrew Moceri Administrator | Officer | 40 | $130,000 |
Shelly Sims Principal | Officer | 40 | $101,148 |
Tim Hoffman Principal | Officer | 40 | $100,578 |
Jason Yanni Chairperson | OfficerTrustee | 2 | $0 |
Emily Fowler Vice Chair | OfficerTrustee | 2 | $0 |
Bill Aull Treasurer | OfficerTrustee | 2 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Vif- Participate Spanish Immersion Program | 6/29/20 | $128,070 |
Vif- Participate Spanish Immersion Program | 6/29/20 | $128,070 |
Fle - Mama's Italian Eatery Lunch Vendor | 6/29/20 | $143,292 |
Skyline Services Usa Janitoral Service | 6/29/20 | $124,809 |
Fle - Mama's Italian Eatery Lunch Vendor | 6/29/20 | $143,292 |
Skyline Services Usa Janitoral Service | 6/29/20 | $124,809 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $982,219 |
| Investment income | $0 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $18,139,159 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $9,387,707 |
| Pension plan accruals and contributions | $2,234,591 |
| Other employee benefits | $868,655 |
| Payroll taxes | $672,943 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $38,028 |
| Fees for services: Accounting | $9,500 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $261,540 |
| Travel | $14,455 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $1,647,153 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $1,738,179 |
| Insurance | $66,427 |
| All other expenses | $0 |
| Total functional expenses | $18,119,955 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $6,120,633 |
| Savings and temporary cash investments | $2,566,930 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $42,014 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $8,357 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $5,103,217 |
| Total assets | $43,880,592 |
| Accounts payable and accrued expenses | $158,816 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $30,310,000 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $1,697,000 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $31,554,253 |
| Total liabilities | $63,720,069 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Total liabilities and net assets/fund balances | -$19,839,477 |
Grants Recieved
Over the last fiscal year, we have identified 22 grants that Pine Lake Preparatory Inc has recieved totaling $49,837.
| Awarding Organization | Amount |
|---|---|
American Online Giving Foundation Inc Newark, DE PURPOSE: GENERAL SUPPORT | $8,901 |
For Inspiration And Recognition Of Science And Technology First Manchester, NH PURPOSE: Program Support | $7,663 |
Bank Of America Charitable Foundation Inc Charlotte, NC PURPOSE: OPERATIONAL SUPPORT | $6,982 |
Bank Of America Charitable Foundation Inc Charlotte, NC PURPOSE: OPERATIONAL SUPPORT | $5,804 |
Bank Of America Charitable Foundation Inc Charlotte, NC PURPOSE: OPERATIONAL SUPPORT | $5,000 |
Bank Of America Charitable Foundation Inc Charlotte, NC PURPOSE: OPERATIONAL SUPPORT | $5,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Drew Charter School Inc Atlanta, GA | $34,692,137 | $41,952,542 |
North Carolina Charter Educational Foundation Inc Mooresville, NC | $93,431,533 | $35,029,413 |
Lead Public Schools Inc Nashville, TN | $24,033,254 | $42,742,487 |
Kipp Nashville Nashville, TN | $80,824,528 | $47,985,945 |
Georgia Connections Academy Charter School Inc Duluth, GA | $22,514,475 | $38,349,918 |
Kindezi School Inc Atlanta, GA | $19,750,427 | $21,363,051 |
Kipp Enc Public Schools Gaston, NC | $35,993,575 | $43,410,261 |
Gestalt Community Schools Memphis, TN | $46,137,229 | $27,266,737 |
Foothills Education Center Inc Athens, GA | $29,237,884 | $30,776,964 |
Kipp Memphis Inc Memphis, TN | $24,468,081 | $25,479,805 |
Valor Collegiate Academies Nashville, TN | $48,008,126 | $29,376,935 |
Triad Math And Science Academy Company Greensboro, NC | $12,436,639 | $25,994,464 |