Asu Preparatory Academy
- Assets
- $54.3m
- Revenue
- $76.7m
- Investments
- $0.0
- Employees
- 1,036
- Location
- Tempe, AZ
- Founding
- 07/2008
- Data as of
- 06/2023
- EIN
- 26-0664313
Organization Overview
Asu Preparatory Academy is located in Tempe, AZ. 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 06/2023, Asu Preparatory Academy employed 1,036 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Asu Preparatory Academy 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, Asu Preparatory Academy generated $76.7m in total revenue. This organization has experienced exceptional growth, as over the past 8 years, it has increased revenue by an average of 12.8% each year . All expenses for the organization totaled $78.2m during the year ending 06/2023. While expenses have increased by 19.6% 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
OUR MISSION IS TO AFFORD STUDENTS AN OPTIMUM ENVIRONMENT FOR LEARNING, HELP THEM ACHIEVE THEIR POTENTIAL AND ENSURE THE APPROPRIATE LEVEL OF COLLEGE READINESS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
EDUCATION - THE SCHOOL SERVED APPROXIMATELY 6,756 STUDENTS IN GRADES PRE-SCHOOL THROUGH 12 FOR THE FISCAL YEAR.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Phillip Netolicky Ed Budget & | Officer | 2 | $0 |
Forrest Valora Finance/budg | Officer | 40 | $154,292 |
Lisa Edgar Chief Ptnrsh | Officer | 40 | $289,737 |
David Timothy Sudarma Chief Tech O | Officer | 40 | $194,611 |
Leah Lommel Chief Admin | Officer | 40 | $84,165 |
George Dean Chairperson | OfficerTrustee | 2 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Ethan's Cleaning Solution Cleaning | 6/29/23 | $475,956 |
Getting Smart Llc | 6/29/23 | $274,654 |
Indie Llc Technology | 6/29/23 | $243,475 |
Toptal Llc Technology | 6/29/23 | $214,787 |
Cornerstone Landscape | 6/29/23 | $111,046 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $72,663,435 |
| All other contributions, gifts, grants, and similar amounts not included above | $2,769,433 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $75,432,868 |
| Total Program Service Revenue | $826,793 |
| 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 | $76,710,496 |
| 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. | $722,806 |
| Compensation of current officers, directors, key employees. | $137,333 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $39,897,822 |
| Pension plan accruals and contributions | $5,126,521 |
| Other employee benefits | $3,629,562 |
| Payroll taxes | $3,001,584 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $148,202 |
| Fees for services: Accounting | $53,200 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $8,666,823 |
| Advertising and promotion | $14,386 |
| Office expenses | $366,098 |
| Information technology | $2,676,352 |
| Royalties | $0 |
| Occupancy | $3,268,419 |
| Travel | $835,777 |
| 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 | $2,109,073 |
| Insurance | $214,744 |
| All other expenses | $1,607,883 |
| Total functional expenses | $78,160,954 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $675,236 |
| Savings and temporary cash investments | $301,289 |
| Pledges and grants receivable | $10,045,235 |
| Accounts receivable, net | $187,711 |
| 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 | $1,439,303 |
| Net Land, buildings, and equipment | $14,321,676 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $27,349,119 |
| Total assets | $54,319,569 |
| Accounts payable and accrued expenses | $6,681,453 |
| Grants payable | $0 |
| Deferred revenue | $3,275,670 |
| 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 | $13,280,280 |
| Total liabilities | $23,237,403 |
| Net assets without donor restrictions | $31,055,847 |
| Net assets with donor restrictions | $26,319 |
| 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 | $54,319,569 |