Preparatory Foundation Inc
- Assets
- $39.9m
- Revenue
- $3.6m
- Investments
- $0.0
- Employees
- 0
- Location
- Hyde Park, MA
- Founding
- 08/2003
- Data as of
- 06/2021
- EIN
- 11-3690799
Organization Overview
Preparatory Foundation Inc is located in Hyde Park, MA. The organization was established in 2003. According to its NTEE Classification (T30) the organization is classified as: Public Foundations, under the broad grouping of Philanthropy, Voluntarism & Grantmaking Foundations and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Preparatory Foundation 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, Preparatory Foundation Inc generated $3.6m in total revenue. This organization has experienced exceptional growth, as over the past 6 years, it has increased revenue by an average of 21.1% each year . All expenses for the organization totaled $3.9m during the year ending 06/2021. 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
TO PROVIDE ENHANCEMENT OF EDUCATIONAL COLLEGE PREPARATORY OPPORTUNITIES IN THE BOSTON AREA.
Describe the Organization's Program Activity:
Part 3 - Line 4a
TO PROVIDE ENHANCEMENT OF EDUCATIONAL COLLEGE PREPARATORY OPPORTUNITIES IN THE BOSTON AREA.
Get More from Intellispect for FreeCreate a free account to get more data, nonprofit salaries, advanced search and more.
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Carol Taylor Clerk | OfficerTrustee | 1 | $0 |
Bill Clark President | OfficerTrustee | 1 | $0 |
Scott Mccue Director | Trustee | 1 | $0 |
John Grandin Director | Trustee | 1 | $0 |
Preston Mcswain Director | Trustee | 1 | $0 |
Charlotte Johnson Director | Trustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Wt Rich & Co Construction Manager | 6/29/18 | $7,925,202 |
Wb Mason Furniture Vendor | 6/29/18 | $309,045 |
Pacific Charter School Development Project Manager | 6/29/18 | $132,000 |
Pinck & Co Owners Project Manger | 6/29/18 | $123,476 |
Studio G Architects Architect | 6/29/18 | $788,974 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $1,928,061 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,928,061 |
| Total Program Service Revenue | $0 |
| Investment income | $0 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $1,667,263 |
| 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 | $3,595,324 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $1,377,611 |
| 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 of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $0 |
| 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 | $1,100,714 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $1,379,114 |
| Insurance | $0 |
| All other expenses | $0 |
| Total functional expenses | $3,874,372 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $2,207,475 |
| Savings and temporary cash investments | $2,946,235 |
| Pledges and grants receivable | $815,000 |
| Accounts receivable, net | $0 |
| 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 | $0 |
| Net Land, buildings, and equipment | $33,188,359 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $709,010 |
| Total assets | $39,866,079 |
| Accounts payable and accrued expenses | $43,601 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $27,555,849 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $1,000,000 |
| Other liabilities | $1,836,478 |
| Total liabilities | $30,435,928 |
| Net assets without donor restrictions | $6,359,387 |
| Net assets with donor restrictions | $3,070,764 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $39,866,079 |
Grants Recieved
Over the last fiscal year, we have identified 16 grants that Preparatory Foundation Inc has recieved totaling $633,381.
| Awarding Organization | Amount |
|---|---|
One8 Foundation Boston, MA PURPOSE: EDUCATION | $200,000 |
Barr Foundation Boston, MA PURPOSE: EDUCATION: TO ADVANCE THE PORTRAIT OF A GRADUATE ACTION PLAN | $170,000 |
Life Science Cares Inc Cambridge, MA PURPOSE: DONATION TO ASSIST THE NONPROFIT | $60,000 |
Wellington Management Foundation Boston, MA PURPOSE: See Part IV | $50,000 |
Tntp Inc New York, NY PURPOSE: TO SUPPORT THE DEVELOPMENT OF AN IMPLEMENTATION PLAN THAT OUTLINES THE GOALS, PRIORITIES, ACTIONS AND OWNERS FOR THE AREAS OF FOCUS COMING OUT OF THE TALENT LANDSCAPE ANALYSIS CONDUCTED BY TNTP IN SY21-22 | $25,000 |
Barr Foundation Boston, MA PURPOSE: EDUCATION: TO SUPPORT A TALENT LANDSCAPE ANALYSIS FOCUSED ON TEACHER DIVERSITY, IN PARTNERSHIP WITH TNTP | $25,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Partnership Schools New York, NY | $64,379,139 | $24,282,663 |
Royal College Of Art Usa Inc New York, NY | $1,933,182 | $14,916,047 |
Imago Dei Fund Boston, MA | $57,020,766 | $29,637,241 |
Boston Charitable Trust Fund Boston, MA | $1,173,216 | $4,494,143 |
Nfa Foundation Inc Norwich, CT | $77,129,817 | $5,415,738 |
American Friends Of B Nai Levy Foundation Brooklyn, NY | $493,786 | $13,431,000 |
Rf Catalytic Capital Inc New York, NY | $241,603,034 | $246,273,218 |
Freedom Fund Brooklyn, NY | $51,719,352 | $51,201,158 |
Provision Ministry Inc Westborough, MA | $833,220 | $12,247,682 |
Student Leadership Network Inc New York, NY | $11,626,545 | $12,224,104 |
The Good Nation Foundation Inc New York, NY | $2,105,948 | $9,558,970 |
New York Times Neediest Cases Fund New York, NY | $66,331,518 | $11,554,497 |