Beacon College Prep Inc
- Assets
- $12.2m
- Revenue
- $7.1m
- Investments
- $0.0
- Employees
- 57
- Location
- Miami Beach, FL
- Founding
- 07/2014
- Data as of
- 06/2021
- EIN
- 46-1615260
Organization Overview
Beacon College Prep Inc is located in Miami Beach, FL. The organization was established in 2014. According to its NTEE Classification (B42) the organization is classified as: Undergraduate Colleges, under the broad grouping of Education and related organizations. As of 06/2021, Beacon College Prep Inc employed 57 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Beacon College Prep 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, Beacon College Prep Inc generated $7.1m in total revenue. This organization has experienced exceptional growth, as over the past 6 years, it has increased revenue by an average of 20.4% each year . All expenses for the organization totaled $6.7m during the year ending 06/2021. While expenses have increased by 17.5% per year over the past 6 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
SEE SCHEDULE O
Describe the Organization's Program Activity:
Part 3 - Line 4a
BEACON COLLEGE PREP ELEMENTARY SCHOOL THE COVID-19 PANDEMIC PRESENTED SIGNIFICANT CHALLENGES TO THE ELEMENTARY SCHOOL, THEIR STUDENTS, TEACHERS, AND FAMILIES. TOGETHER, AS A COMMUNITY, THEY CONFRONTED THESE CHALLENGES HEAD-ON AND THE SCHOOL EMERGED AS A CRITICAL SOURCE OF SUPPORT, ENCOURAGEMENT, AND STABILITY IN A VERY UNCERTAIN TIME. THEY PROVIDED ESSENTIAL RESOURCES FOR FAMILIES IN NEED INCLUDING FOOD, CASH, AND ACCESS TO TECHNOLOGY- INCLUDING INTERNET AND WI- FI. THE SCHOOL SERVED AS A BEACON OF HOPE FOR ALL OF THEIR STUDENTS AND FAMILIES IN A VERY UNCERTAIN TIME OF CRISIS. AS REPORTED LAST YEAR, THE SCHOOL WAS FORCED TO SUSPEND IN-PERSON LEARNING IN MARCH 2020 DUE TO THE COVID-19 PANDEMIC AND SUCCESSFULLY PIVOTED TO A DISTANCE LEARNING MODEL FOR THE REMAINDER OF THE 2019-2020 SCHOOL YEAR. THE SCHOOL ALSO MANAGED TO RETAIN ALL THEIR STAFF WITH THE HELP OF THE PAYCHECK PROTECTION PROGRAM LOAN. THEY OPENED THE 2020-2021 SCHOOL YEAR WITH A HYBRID MODEL WHERE APPROXIMATELY 50% OF THEIR STUDENTS ATTENDED IN PERSON AND 50% PARTICIPATED VIA THEIR NEWLY DEVELOPED AND REFINED DISTANCE LEARNING PROGRAM. ALTHOUGH THE COMMUNITY THEY SERVE WAS AMONGST THE HARDEST HIT BY THE PANDEMIC, THE SCHOOL MANAGED TO SUCCESSFULLY NAVIGATE THROUGH THIS CRISIS AND PROVIDE NOT ONLY A VIABLE EDUCATION FOR THEIR STUDENTS BUT BECAME A SOURCE OF SUPPORT AND INSPIRATION FOR THE COMMUNITY. THEY EXPECT TO OPEN AT FULL CAPACITY WITH IN-PERSON ATTENDANCE THIS COMING SCHOOL YEAR AND MAINTAIN A WAITLIST OF OVER 100 STUDENTS. BEACON COLLEGE PREP MIDDLE SCHOOL THE COVID-19 PANDEMIC PRESENTED SIGNIFICANT CHALLENGES TO THE MIDDLE SCHOOL, THEIR STUDENTS, TEACHERS, AND FAMILIES. TOGETHER, AS A COMMUNITY, THEY CONFRONTED THESE CHALLENGES HEAD-ON AND THE SCHOOL EMERGED AS A CRITICAL SOURCE OF SUPPORT, ENCOURAGEMENT, AND STABILITY IN A VERY UNCERTAIN TIME. THEY PROVIDED ESSENTIAL RESOURCES FOR FAMILIES IN NEED INCLUDING FOOD, CASH, AND ACCESS TO TECHNOLOGY- INCLUDING INTERNET AND WI- FI. THE SCHOOL SERVED AS A BEACON OF HOPE FOR ALL THEIR STUDENTS AND FAMILIES IN A VERY UNCERTAIN TIME OF CRISIS. AS REPORTED LAST YEAR, THE SCHOOL WAS FORCED TO SUSPEND IN-PERSON LEARNING IN MARCH 2020 DUE TO THE COVID-19 PANDEMIC AND SUCCESSFULLY PIVOTED TO A DISTANCE LEARNING MODEL FOR THE REMAINDER OF THE 2019-2020 SCHOOL YEAR. THEY ALSO MANAGED TO RETAIN ALL THEIR STAFF WITH THE HELP OF THE PAYCHECK PROTECTION PROGRAM LOAN. THEY OPENED THE 2020-2021 SCHOOL YEAR WITH A HYBRID MODEL WHERE APPROXIMATELY 50% OF THEIR STUDENTS ATTENDED IN PERSON AND 50% PARTICIPATED VIA THEIR NEWLY DEVELOPED AND REFINED DISTANCE LEARNING PROGRAM. ALTHOUGH THE COMMUNITY THEY SERVE WAS AMONGST THE HARDEST HIT BY THE PANDEMIC, THE SCHOOL MANAGED TO SUCCESSFULLY NAVIGATE THROUGH THIS CRISIS AND PROVIDE NOT ONLY A VIABLE EDUCATION FOR THEIR STUDENTS BUT BECAME A SOURCE OF SUPPORT AND INSPIRATION FOR THE COMMUNITY. THEY EXPECT TO OPEN AT FULL CAPACITY WITH IN-PERSON ATTENDANCE THIS COMING SCHOOL YEAR AND MAINTAIN A WAITLIST OF OVER 75 STUDENTS.
PLEASE SEE DESCRIPTION OF 1ST EXEMPT PURPOSE ACCOMPLISHMENT.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Patrick Evans Founding Pri | 65 | $133,225 | |
John Flickinger Dev. Consult | Officer | 30 | $45,000 |
Melissa E Krinzman Secretary | Trustee | 5 | $0 |
Octavio Verdeja Treasurer | Trustee | 5 | $0 |
Gail A Dotson Board Member | Trustee | 5 | $0 |
Virginia Akar Board Member | Trustee | 5 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $581,240 |
| All other contributions, gifts, grants, and similar amounts not included above | $6,438,076 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $7,019,316 |
| Total Program Service Revenue | $0 |
| Investment income | $255 |
| 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 | $7,064,402 |
| 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. | $45,000 |
| Compensation of current officers, directors, key employees. | $18,000 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $2,946,179 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $337,624 |
| Payroll taxes | $312,745 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $1,000 |
| Fees for services: Accounting | $24,020 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $336,226 |
| Advertising and promotion | $52,757 |
| Office expenses | $177,430 |
| Information technology | $72,902 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $23 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $860,630 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $564,488 |
| Insurance | $109,204 |
| All other expenses | $219,157 |
| Total functional expenses | $6,723,091 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,680,147 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $187,051 |
| 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 | $16,646 |
| Net Land, buildings, and equipment | $10,297,587 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $12,223 |
| Total assets | $12,193,654 |
| Accounts payable and accrued expenses | $75,300 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $11,465,500 |
| 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 | $483,416 |
| Total liabilities | $12,024,216 |
| Net assets without donor restrictions | $169,438 |
| 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 | $0 |
| Total liabilities and net assets/fund balances | $12,193,654 |
Grants Recieved
Over the last fiscal year, we have identified 3 grants that Beacon College Prep Inc has recieved totaling $40,022.
| Awarding Organization | Amount |
|---|---|
Charter Fund Inc Broomfield, CO PURPOSE: PANDEMIC RELIEF - REMOTE LEARNING | $20,000 |
Charter Fund Inc Broomfield, CO PURPOSE: PANDEMIC RELIEF - REMOTE LEARNING | $20,000 |
Amazonsmile Foundation Seattle, WA PURPOSE: GENERAL SUPPORT | $22 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Hodges University Inc Ft Myers, FL | $69,958,364 | $14,637,102 |
Compass Rose Foundation Inc Jacksonville, FL | $51,584,568 | $19,833,051 |
Brewton Parker College Inc Mount Vernon, GA | $26,983,767 | $18,922,646 |
Paine College Augusta, GA | $39,651,651 | $10,570,569 |
Judson College Marion, AL | $32,056,907 | $7,964,098 |
Clayton State University Foundation Inc Morrow, GA | $97,218,630 | $15,697,742 |
Beacon College Prep Inc Miami Beach, FL | $12,193,654 | $7,064,402 |
Columbus State University Foundation Inc Columbus, GA | $135,224,676 | $13,332,092 |
Beulah Heights University Incorporated Atlanta, GA | $4,161,246 | $5,943,784 |
Trinity Baptist College Inc Jacksonville, FL | $5,914,486 | $5,839,397 |
Valdosta State University Foundation Inc Valdosta, GA | $81,061,715 | $11,895,592 |
Trinity College Of Florida Inc Trinity, FL | $8,799,813 | $3,601,183 |