Academy Prep Foundation Inc

Nonprofit profile at a glance

EIN
593377240
IRS 990 coverage
2011–2024
Forms available
Form 990 2024
Location
Lakeland, FL, USA
Phone
7273220800
Rating
86
Verdict
STRONG
Rating confidence
Moderate
Sector
Elementary, Secondary Education, K - 12

Official website

Reported finances

Revenue
$3,849,470
Expenses
$2,619,007
Assets
$44,294,139
Liabilities
$296,291

Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.

Leadership & pay

12 people listed

Highest reported compensation

  • LINCOLN TAMAYO (COO): $261,336 total reported compensation
  • TERRI SCARCELLI (CFO): $117,433 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

Offer assistance and support to academy prep centers toward their mission to promote the educational, social and ethical development of middle school students through a rigorous academic program.

What it reported doing in 2024

Foundation provides services related to the development and enhancement of educational programs to educational facilities along with other administrative assistance. Foundation coordinates fundraising activities and holds investments, including funds the board designated for the support of academy prep center of tampa, academy prep center of st. Petersburg and academy prep center of lakeland ("the schools"). The foundation owns the land and improvements that house the educational facilities for the schools. The schools are scholarship supported middle schools for inner city children which also provide summer and evening classes for student enhancement and education.

Operating model

Revenue model
Mixed. Its operating money came from several sources; no one source provided a clear majority.
Distribution model
Grant intermediary. The nonprofit sent 64% of its reported program spending out as grants.

The verdict

STRONG - A large share of available resources goes toward mission work and the filed numbers largely add up. Fundraising costs are high for each dollar raised and some filed totals do not add up.

Rating breakdown

  • Financial Efficiency: 88
  • Transparency & Controls: 72
  • Accountability: 100
  • Sustainability: 82
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 100%; rating input score 100
  • Program expense ratio: 81.3%; rating input score 81
  • Fundraising efficiency: $15.97 raised per $1 spent on fundraising; rating input score 53; 53rd percentile among comparable filings

Transparency & Controls

  • Consistency checks: 92.9%; rating input score 93; 13th 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: 100%; rating input score 100; 72nd percentile among comparable filings
  • 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: 32%; rating input score 85; 85th percentile among comparable filings
  • Total-asset coverage ratio: 16.91; rating input score 95; 95th percentile among comparable filings
  • Liabilities to assets ratio: 0.01; rating input score 87; 87th percentile among comparable filings
  • Officer compensation ratio: 8.8%; rating input score 34; 34th percentile among comparable filings

Growth

  • Program expense growth: 14.7% per year; rating input score 100; 77th percentile among comparable filings
  • Revenue growth: 10.3% per year; rating input score 100; 69th percentile among comparable filings
  • Asset growth: 14.8% per year; rating input score 100; 74th percentile among comparable filings

Details

  • Where the money goes: 100% of revenue deployed · 81.3% of spending went to programs
  • Governance: 10 of 10 board members independent · 8 of 8 filing controls reported
  • Programs: 1 filed program accomplishment · $2.1M in reported program spending
  • Leadership: top reported pay $261K · 12 people listed · 1 of 6 pay-setting controls reported
  • Highest-paid contractors: 1 contractor listed · $458K reported
  • Consistency: 23 of 24 current checks pass · 1 finding to review
  • Schedules: 7 filed schedules · includes major donors, grants, and executive pay
  • Filing history: 14 filing years from 2011 to 2024
  • Contacts: How to reach this organization
  • Money network: 8 filed money-flow records
  • Related organizations: 6 filed related-organization links
  • Grant readiness: Federal tax and exclusion status, award history, and grant-maker relationships.
  • People: Everyone the filings name, and which of them the filings identify by more than a name.
  • Staff and benefit plans: Retirement and health plans the organization files with the Department of Labor, and the people in them.

Key Signals

Signals prioritize questions for review. They are not findings of misconduct.

  • Review — Financial Efficiency: Fundraising efficiency scored 53/100.
  • Review — Transparency & Controls: Domestic grant itemization did not reconcile in the filed values.
  • Moderate — Sustainability: Officer compensation ratio scored 34/100.