Academy Prep Center of Lakeland Inc

What it reported doing in 2024

Academy prep center of lakeland, established in june 2019, is the third campus added to the academy prep organization. It joins its sister campuses in providing a rigorous, tuition-free, private, nonprofit middle school education for students from low-income communities in lakeland, Florida. The campus is committed to preparing scholars for success in high school, college, and beyond through high academic expectations, character development, and long-term student support. (continued on schedule o) this also includes an exemplary college preparatory middle school education with extended days, weeks, and school years coupled with a wide array of enrichment activities and services. Through our graduate support services program, academy prep continues to support our graduates in high school, college, and into their careers, ensuring successful transitions into each phase of their lives. Academy prep students attend school up to 11 hours a day, 6 days a week, 11 months a year, with classes of approximately 20 students or less. Academy prep offers a unique combination of demanding academics and enrichment activities that offer growth opportunities. In addition to rigorous education in english, math, history, and science, all students are required to take chess, art, music, and physical education classes weekly as important parts of their academic schedule. Seventh and eighth-grade students are additionally required to take spanish classes as part of their graded academic coursework, giving them two years of language familiarity as they head into high school. Over 40 enrichment activities are offered to academy prep students every afternoon as part of their school day, including golf, chess, music, choir, dance, gardening, drama, yoga, robotics, debate, archery, and cooking. Additionally, students spend saturdays on field trips that included kayaking and nature exploration, visits to art, science, and history museums, and community service.community partnerships provide positive role models in the classroom and facilitate enrichment activities that connect academy prep students to the dynamic and diverse lakeland community. Family involvement is also an essential component in student achievement - 40 hours of volunteer service per family is required annually.the academy prep model achieves outstanding results. Academy prep students show significant improvement in academic ability through their academy prep years. Most enter at or less than grade level in math and reading. By graduation, 8th graders are scoring ahead of grade level in math and reading on national assessment tests. 2026 will be our first high school graduating class. Due to our unique model of offering free tuition to all of our students, we depend almost entirely on our development efforts to cover operating expenses. Our annual fundraising events bring in approximately $1,200,000 in revenue and offer exposure for our organization to 1,000+ donors is critical due to our absence of a parent tuition base. The role of the development department extends far beyond fundraising. At academy prep, development encompasses all event planning and management, marketing and communications, fundraising campaigns throughout the year, as well as the cultivation of major and capital gifts, requiring front-end investments to achieve long-term benefits. We expect to realize these benefits in future years.academy prep's graduates are the best examples of the school's success in transforming the lives of young, economically disadvantaged students. Our graduates are serving as community leaders and working hard as they strive for excellence. For example, one of our alumni from the first graduating class of 2022 currently attends chatham hall, an all girl's private boarding school located in Virginia, on a generous scholarship. Following the unfortunate passing of her father in her last year with us at academy prep, she determined a boarding school environment would be the best fit for her.

Financial Efficiency

• Mission deployment rate: 89.7%; rating input score 90
• Program expense ratio: 84.2%; rating input score 84
• Fundraising efficiency: $7.44 raised per $1 spent on fundraising; rating input score 28; 28th percentile among comparable filings

Transparency & Controls

• Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
• Pay-setting controls: 1 of 6 controls in place; rating input score 17
  • Compensation committee: Missing
  • Independent consultant: Missing
  • Other Form 990s reviewed: Missing
  • Written employment contract: Missing
  • Compensation survey or study: Missing
  • Board or committee approval: Pass
• Foreign activity oversight: Limited
• Grant itemization coverage: Limited
• Major donor itemization: Yes; rating input score 100
• Related-party transparency: Limited

Accountability

• Independent voting board: 100%; rating input score 100; 63rd percentile among comparable filings
• Governance controls: 8 of 8 controls in place; rating input score 100
  • Conflict-of-interest policy: Pass
  • Whistleblower policy: Pass
  • Document-retention policy: Pass
  • CEO compensation review process: NotApplicable
  • Other executive compensation review process: Pass
  • Form 990 shared with the board: Pass
  • Board meeting minutes documented: Pass
  • Audit committee oversight: Pass
  • Independent financial-statement audit: Pass

Sustainability

• Operating margin: -6.5%; rating input score 18; 18th percentile among comparable filings
• Total-asset coverage ratio: 0.16; rating input score 4; 4th percentile among comparable filings
• Liabilities to assets ratio: 0.25; rating input score 39; 39th percentile among comparable filings
• Officer compensation ratio: 6.5%; rating input score 44; 44th percentile among comparable filings

Growth

• Program expense growth: 23.3% per year; rating input score 100; 88th percentile among comparable filings
• Revenue growth: -18.1% per year; rating input score 0; 1st percentile among comparable filings
• Asset growth: -42.3% per year; rating input score 0; 0th percentile among comparable filings