Northeast College Prep
- Assets
- $3.8m
- Revenue
- $7.6m
- Investments
- $0.0
- Employees
- 98
- Location
- Minneapolis, MN
- Founding
- 07/2014
- Data as of
- 06/2023
- EIN
- 46-2577480
Organization Overview
Northeast College Prep is located in Minneapolis, MN. The organization was established in 2014. 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, Northeast College Prep employed 98 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Northeast College Prep 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, Northeast College Prep generated $7.6m in total revenue. This organization has experienced exceptional growth, as over the past 8 years, it has increased revenue by an average of 12.1% each year . All expenses for the organization totaled $7.4m during the year ending 06/2023. While expenses have increased by 12.1% 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
NORTHEAST COLLEGE PREP WILL ENSURE STRONG ACADEMIC, SOCIAL-EMOTIONAL, AND TALENT DEVELOPMENT IN EVERY MEMBER OF ITS DIVERSE STUDENT BODY, THEREBY POSITIONING EACH STUDENT FOR COLLEGE GRADUATION, CAREER SUCCESS, AND POSITIVE COMMUNITY IMPACT.
Describe the Organization's Program Activity:
Part 3 - Line 4a
NORTHEAST COLLEGE PREP HAS STRIVED TO SUCCEED AS A PROOF-POINT THAT ALL STUDENTS, REGARDLESS OF BACKGROUND, FLOURISH WHEN A SCHOOL'S ENTIRE STAFF DEEPLY BELIEVES IN THE POTENTIAL AND FULLY COMMITS TO THE SUCCESS OF EACH AND EVERY ONE. THE ORGANIZATION FOCUSES ON GRADES K TO 8. DURING FISCAL YEAR 2022, NORTHEAST COLLEGE PREP AVERAGED 330 DAILY STUDENTS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Rich Nazarian Chair | OfficerTrustee | 1 | $0 |
Jessica Waletski Treasurer | OfficerTrustee | 1 | $0 |
Joanna Schneider Secretary/teacher | OfficerTrustee | 41 | $69,571 |
Jessica Waletski Director | Trustee | 1 | $0 |
Erica Ahlgren Director | Trustee | 1 | $0 |
Jessica Intermill Director | Trustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
4mativ Technologies Inc Transportation | 6/29/23 | $742,220 |
Done Right Foods Food Service | 6/29/23 | $293,141 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $7,121,760 |
| All other contributions, gifts, grants, and similar amounts not included above | $407,044 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $7,528,804 |
| Total Program Service Revenue | $4,461 |
| Investment income | $596 |
| 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 | -$40 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $7,570,784 |
| 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. | $204,172 |
| Compensation of current officers, directors, key employees. | $24,590 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $3,230,679 |
| Pension plan accruals and contributions | $305,180 |
| Other employee benefits | $552,084 |
| Payroll taxes | $254,643 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $3,009 |
| Fees for services: Accounting | $99,900 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $1,164,497 |
| Advertising and promotion | $0 |
| Office expenses | $1,682 |
| Information technology | $98,637 |
| Royalties | $0 |
| Occupancy | $600,203 |
| Travel | $17,127 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $45,801 |
| Interest | $421 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $98,004 |
| Insurance | $16,855 |
| All other expenses | $33,873 |
| Total functional expenses | $7,368,159 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $812,964 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $806,882 |
| Accounts receivable, net | $157,958 |
| 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 | $85,097 |
| Net Land, buildings, and equipment | $489,307 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $1,471,866 |
| Total assets | $3,824,074 |
| Accounts payable and accrued expenses | $608,473 |
| 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 | $4,965,522 |
| Total liabilities | $5,573,995 |
| Net assets without donor restrictions | -$1,750,185 |
| Net assets with donor restrictions | $264 |
| 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 | $3,824,074 |