Lorain Preparatory High School

Legal name: Lorain Preparatory High School Inc

Nonprofit profile at a glance

EIN
880766982
IRS 990 coverage
2022–2024
Official website data refreshed
Sep 2026
Forms available
Form 990 2024
Location
Lorain, OH, US
Phone
(440) 201-3876
Rating
89
Verdict
STRONG
Rating confidence
Moderate
Sector
Charter Schools

Official website

Reported finances

Revenue
$1,675,345
Expenses
$2,011,794
Assets
$1,079,365
Liabilities
$1,864,153

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

Leadership & pay

5 people listed

Highest reported compensation

  • David Arredondo (Board Member): $1,125 total reported compensation
  • Marcello Torres (Board Member): $1,000 total reported compensation
  • Rudolph Todd Kubasak (Board Member): $1,000 total reported compensation

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

Overview

Mission

To prepare the next generation of leaders through a safe, supportive, and high-standard learning environment.

What it reported doing in 2024

At Lorain Preparatory High School, we provide a standards-based curriculum that teaches students skills for college and career readiness. Our curriculum is built on the Ohio Learning Standards (OLS) for English Language Arts, Mathematics, Science, Social Studies, Visual Arts, and Physical Education. We are a learning community that values high expectations for both academics and behavior. We are accredited by CogniaTM for meeting the highest standards of education in ongoing third-party review and support students with small class sizes and the extra attention and services they need to succeed in school.

Operating model

Revenue model
Donor-supported. 100% of the money available for current operations came from contributions and gifts.
Distribution model
Direct operator. The filing allocates 100% of reported program-service expenses outside its grant, affiliate-payment, and member-benefit lines. This expense classification does not rule out separately announced grant awards.

The verdict

STRONG - A large share of available resources goes toward mission work and the filed numbers largely add up. Expenses are high relative to revenue and total assets are small relative to annual expenses; liquid coverage is unknown.

Rating breakdown

  • Financial Efficiency: 89
  • Transparency & Controls: 90
  • Accountability: 100
  • Sustainability: 19
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 100%; rating input score 100
  • Program expense ratio: 100%; rating input score 100
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: Limited
  • Grant itemization coverage: Limited
  • Major donor itemization: Limited
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 63rd percentile among comparable filings
  • Governance controls: 7 of 9 controls in place; rating input score 100
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: Limited
    • Other executive compensation review process: Limited
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: -20.1%; rating input score 9; 9th percentile among comparable filings
  • Total-asset coverage ratio: 0.54; rating input score 25; 25th percentile among comparable filings
  • Liabilities to assets ratio: 1.73; rating input score 2; 2nd percentile among comparable filings
  • Officer compensation ratio: 0.2%; rating input score 61; 61st percentile among comparable filings

Growth

  • Program expense growth: 19.1% per year; rating input score 100; 81st percentile among comparable filings
  • Revenue growth: 20.7% per year; rating input score 100; 86th percentile among comparable filings
  • Asset growth: 42.1% per year; rating input score 100; 95th percentile among comparable filings

Details

  • What they do: 5 operating locations identified
  • Where the money goes: 100% of revenue deployed · 100% of spending went to programs
  • Governance: 5 of 5 board members independent · 7 of 9 filing controls reported
  • Programs: 1 filed program accomplishment · $2M in reported program spending
  • Leadership: top reported pay $1K · 5 people listed
  • Highest-paid contractors: 1 contractor listed · $435K reported
  • Consistency: 27 of 27 current checks pass
  • Schedules: 4 filed schedules
  • Filing history: 3 filing years from 2022 to 2024
  • Contacts: How to reach this organization
  • Money network: 5 filed money-flow records
  • 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.

Key Signals

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

  • High — Sustainability: Operating margin scored 9/100.
  • High — Sustainability: Total-asset coverage ratio scored 25/100.
  • High — Sustainability: Liabilities to assets ratio scored 2/100.