Hope Preparatory School Inc
- Assets
- $393.7k
- Revenue
- $1.2m
- Investments
- $0.0
- Employees
- 44
- Location
- Kinston, NC
- Founding
- 10/2018
- Data as of
- 07/2024
- EIN
- 82-5514146
Organization Overview
Hope Preparatory School Inc is located in Kinston, NC. The organization was established in 2018. According to its NTEE Classification (B99) the organization is classified as: Education N.E.C., under the broad grouping of Education and related organizations. As of 07/2024, Hope Preparatory School Inc employed 44 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Hope Preparatory 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 07/2024, Hope Preparatory School Inc generated $1.2m in total revenue. This organization has experienced exceptional growth, as over the past 4 years, it has increased revenue by an average of 34.8% each year . All expenses for the organization totaled $1.2m during the year ending 07/2024. While expenses have increased by 43.4% per year over the past 4 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
2024
Describe the Organization's Mission:
Part 3 - Line 1
TO PREPARE THE YOUTH OF OUR CITY TO THRIVE THROUGH A CHRISTIAN CENTERED EDUCAITON.
Describe the Organization's Program Activity:
Part 3 - Line 4a
TO PREPARE THE YOUTH OF OUR CITY TO THRIVE THROUGH A CHRISTIAN CENTERED EDUCATION.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Diane Spear Head Of Scho | Trustee | 40 | $67,652 |
David Edwards Board Member | Trustee | 1 | $0 |
Debbie Jones Board Member | Trustee | 1 | $0 |
Angelia Shepherd Board Member | Trustee | 1 | $0 |
Tim Smith Board Member | Trustee | 1 | $0 |
Herbert Spear Treasurer | OfficerTrustee | 1 | $0 |
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 | $242,919 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $242,919 |
| Total Program Service Revenue | $912,302 |
| Investment income | $13,642 |
| 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 | $1,217,899 |
| 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. | $67,652 |
| Compensation of current officers, directors, key employees. | $10,148 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $776,291 |
| Pension plan accruals and contributions | $9,312 |
| Other employee benefits | $4,948 |
| Payroll taxes | $74,176 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $9,152 |
| Advertising and promotion | $2,752 |
| Office expenses | $9,680 |
| Information technology | $9,976 |
| Royalties | $0 |
| Occupancy | $80,524 |
| 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 | $5,424 |
| Insurance | $6,378 |
| All other expenses | $52,151 |
| Total functional expenses | $1,177,455 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $327,590 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $5,064 |
| 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 | $41,212 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $19,794 |
| Total assets | $393,660 |
| Accounts payable and accrued expenses | $16,335 |
| 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 | $19,794 |
| Total liabilities | $36,129 |
| Net assets without donor restrictions | $357,531 |
| 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 | $393,660 |