Lexington Prep School Inc
- Assets
- $21.0k
- Revenue
- $562.3k
- Investments
- $0.0
- Employees
- 14
- Location
- Lexington, MA
- Founding
- 10/2008
- Data as of
- 12/2017
- EIN
- 26-0504362
Organization Overview
Lexington Prep School Inc is located in Lexington, MA. The organization was established in 2008. According to its NTEE Classification (B28) the organization is classified as: Special Education, under the broad grouping of Education and related organizations. As of 12/2017, Lexington Prep School Inc employed 14 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Lexington Prep School 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 12/2017, Lexington Prep School Inc generated $562.3k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 2 years, the organization has seen revenues fall by an average of (43.3%) each year. All expenses for the organization totaled $363.2k during the year ending 12/2017. As we would expect to see with falling revenues, expenses have declined by (46.8%) per year over the past 2 years. 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
2017
Describe the Organization's Mission:
Part 3 - Line 1
THE ORANIZATION OPERATES A PRIVATE SECONDARY BOARDING SCHOOL. THE GOAL IS TO HELP THE STUDENTS TO COOPERATE AND WORK WITH CITIZENS OF MANY CULTURES AND TO MAKE THIS A BETTER WORLD FOR TOMORROW.
Describe the Organization's Program Activity:
Part 3 - Line 4a
FOR STUDENTS IN GRADE SEVEN THORUGH TWELVE, THE SCHOOL TEACHS TRADITIONAL HIGH SCHOOL SUBJECTS WITH A SPECIAL EMPHASIS ON ENGLISH. THE SCHOOL ALSO PROVIDES A VARIEITY OF ACTIVITIES FOR THE STUDENTS. THE SCHOOL HAS EDUCATED 100S OF FOREIGN STUDENTS AND PREAPRED THEM FOR SUCCESS IN COLLEGE.
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PDF Copies of 990 Filings
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 | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $0 |
| Total Program Service Revenue | $20,356 |
| Investment income | $0 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $541,962 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $562,318 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| 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. | $29,801 |
| Compensation of current officers, directors, key employees. | $15,801 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $100,895 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $10,112 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $1,400 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $1,000 |
| Office expenses | $285 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $174,831 |
| 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 | $10,518 |
| Insurance | $1,117 |
| All other expenses | $0 |
| Total functional expenses | $363,163 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $6,627 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| 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 | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $14,323 |
| Other assets | $0 |
| Total assets | $20,950 |
| Accounts payable and accrued expenses | $0 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| 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 | $695,487 |
| Total liabilities | $695,487 |
| Unrestricted restricted net Assets | $0 |
| Temporarily restricted net Assets | $0 |
| Permanently restricted net Assets or current funds | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Total net assets or fund balances | -$674,537 |