Freedom Preparatory Academy Inc
- Assets
- $50.9m
- Revenue
- $33.3m
- Investments
- $0.0
- Employees
- 292
- Location
- Memphis, TN
- Founding
- 12/2008
- Data as of
- 06/2022
- EIN
- 26-1342579
Organization Overview
Freedom Preparatory Academy Inc is located in Memphis, TN. The organization was established in 2008. According to its NTEE Classification (B24) the organization is classified as: Primary & Elementary Schools, under the broad grouping of Education and related organizations. As of 06/2022, Freedom Preparatory Academy Inc employed 292 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Freedom Preparatory Academy 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 06/2022, Freedom Preparatory Academy Inc generated $33.3m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 14.5% each year . All expenses for the organization totaled $27.7m during the year ending 06/2022. While expenses have increased by 12.1% 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
FREEDOM PREPARATORY ACADEMY PREPARES ALL STUDENTS IN GRADES K-12 TO EXCEL IN COLLEGE AND IN LIFE. IT'S FOCUS IS A CLEAR STRATEGIC AND DIRECT PATH TO COLLEGE FOR EVERY STUDENT THAT ENTERS OUR DOORS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
FREEDOM PREP ACCOMPLISHES THIS MISSION OF COLLEGE PREPARATION THROUGH A HIGHLY STRUCTURED, ACADEMICALLY-CHALLENGING ENVIRONMENT WHERE STUDENTS MASTER THE CORE SUBJECTS, DEVELOP ADVANCED ACADEMIC SKILLS, PARTICIPATE IN CHARACTER-BUILDING EXTRA-CURRICULAR ACTIVITIES AND SPORTS, AND DEMONSTRATE THE SCHOOL'S CORE VALUES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Roblin Webb Ceo, Founder | Officer | 40 | $214,546 |
Anika Baltimore Chief Financial Officer | Officer | 40 | $149,000 |
Lars Nelson Chief Of Schools | 40 | $135,687 | |
Kyle Kucharski Head Of School | 40 | $122,377 | |
Clarence Hampton Regional Director | 40 | $114,412 | |
Theodore Czuprky Managing Director Of Systems | 40 | $101,656 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $5,401,894 |
| All other contributions, gifts, grants, and similar amounts not included above | $1,909,465 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $7,311,359 |
| Total Program Service Revenue | $25,983,649 |
| 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 | $33,295,008 |
| 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. | $837,678 |
| Compensation of current officers, directors, key employees. | $175,912 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $14,073,636 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $2,059,589 |
| Payroll taxes | $35,562 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $73,731 |
| Fees for services: Accounting | $131,847 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $1,675,017 |
| Advertising and promotion | $70,040 |
| Office expenses | $87,088 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $125,699 |
| Travel | $101,680 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $572,788 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $1,107,765 |
| Insurance | $371,258 |
| All other expenses | $1,038,438 |
| Total functional expenses | $27,739,055 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $11,679,983 |
| Savings and temporary cash investments | $309,357 |
| Pledges and grants receivable | $99,324 |
| Accounts receivable, net | $2,287,511 |
| 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 | $291,115 |
| Net Land, buildings, and equipment | $24,740,358 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $1,953,738 |
| Other assets | $9,496,108 |
| Total assets | $50,857,494 |
| Accounts payable and accrued expenses | $3,298,462 |
| 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 | $21,976,081 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $7,568,776 |
| Total liabilities | $32,843,319 |
| 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 |
| Retained earnings, endowment, accumulated income, or other funds | $18,014,175 |
| Total liabilities and net assets/fund balances | $50,857,494 |
Grants Recieved
Over the last fiscal year, we have identified 5 grants that Freedom Preparatory Academy Inc has recieved totaling $1,323,600.
| Awarding Organization | Amount |
|---|---|
Community Foundation Of Greater Memphis Inc Memphis, TN PURPOSE: GENERAL OPERATIONAL SUPPORT | $500,000 |
Charter Fund Inc Broomfield, CO PURPOSE: CHARTER SCHOOL GROWTH | $500,000 |
Charter Fund Inc Broomfield, CO PURPOSE: CHARTER SCHOOL GROWTH | $250,000 |
Crawford Howard Private Foundation Palm Beach, FL PURPOSE: CHARITABLE EXEMPT PURPOSE | $57,600 |
Charter Fund Inc Broomfield, CO PURPOSE: CHARTER SCHOOL GROWTH | $16,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Ensworth School Nashville, TN | $203,625,309 | $44,175,360 |
Freedom Preparatory Academy Inc Memphis, TN | $50,857,494 | $33,295,008 |
Cannon School Inc Concord, NC | $52,291,449 | $28,580,834 |
Thales Academy Raleigh, NC | $136,454,160 | $55,473,682 |
Mt Paran Christian School Inc Kennesaw, GA | $56,928,804 | $29,889,603 |
Franklin Road Academy Inc Nashville, TN | $58,128,778 | $31,046,189 |
Brentwood Academy Inc Brentwood, TN | $50,379,157 | $25,930,047 |
Lake Norman Charter School Inc Huntersville, NC | $64,551,351 | $25,126,213 |
Greensboro Independent School Corporation Greensboro, NC | $42,520,891 | $22,760,621 |
Jackson Academy Inc Jackson, MS | $38,072,523 | $26,664,882 |
Trinity School Inc Atlanta, GA | $133,203,671 | $25,058,941 |
Carolina Day School Inc Asheville, NC | $29,412,889 | $19,874,947 |