Preparatory Foundation Inc
- Assets
- $64.7m
- Revenue
- $4.3m
- Investments
- $0.0
- Employees
- 0
- Location
- Hyde Park, MA
- Founding
- 08/2003
- Data as of
- 06/2023
- 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 06/2023, Preparatory Foundation Inc generated $4.3m in total revenue. This organization has experienced exceptional growth, as over the past 8 years, it has increased revenue by an average of 18.1% each year . All expenses for the organization totaled $3.8m during the year ending 06/2023. While expenses have increased by 23.6% per year over the past 8 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
2023
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.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
William Clark President | OfficerTrustee | 1 | $0 |
Carol Taylor Clerk | OfficerTrustee | 1 | $0 |
Howard Mccue Treasurer | OfficerTrustee | 1 | $0 |
John Grandin Director | Trustee | 1 | $0 |
Preston Mcswain Director | Trustee | 1 | $0 |
Tamar Dor-Ner Director | Trustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Wt Rich & Co Construction Manager | 6/29/18 | $7,925,202 |
Studio G Architects Architect | 6/29/18 | $788,974 |
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 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $389,851 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $1,595,981 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,985,832 |
| Total Program Service Revenue | $2,341,695 |
| 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 | -$28,681 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $4,309,510 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $1,448,758 |
| 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 | $1,149,573 |
| 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 | $1,189,786 |
| Insurance | $0 |
| All other expenses | $0 |
| Total functional expenses | $3,788,117 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $3,106,782 |
| Savings and temporary cash investments | $2,705,833 |
| Pledges and grants receivable | $540,100 |
| 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 | $30,661,328 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $27,687,234 |
| Total assets | $64,701,277 |
| Accounts payable and accrued expenses | $119,659 |
| Grants payable | $0 |
| Deferred revenue | $26,049,776 |
| Tax-exempt bond liabilities | $26,201,540 |
| 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 | $0 |
| Other liabilities | $0 |
| Total liabilities | $52,370,975 |
| Net assets without donor restrictions | $9,325,265 |
| Net assets with donor restrictions | $3,005,037 |
| 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 | $64,701,277 |