Owasso Preparatory Academy Incorporated

Nonprofit profile at a glance

EIN
813075864
IRS 990 coverage
2017–2024
Forms available
Form 990 2024, Form 990-EZ 2016
Location
Owasso, OK, USA
Phone
9183780344
Rating
88
Verdict
STRONG
Rating confidence
Moderate
Sector
Elementary, Secondary Education, K - 12
Affiliation
Christianity

Reported finances

Revenue
$2,539,090
Expenses
$2,336,894
Assets
$1,679,196
Liabilities
$1,102,307

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

Leadership & pay

5 people listed

Executive titles in this filing

  • CHAD CLASSEN (PRESIDENT)
  • KATIE BASKINS (VICE PRESIDENT)

People named in this filing

  • CHAD CLASSEN (PRESIDENT)
  • JAKE CRAWFORD (TREASURER)
  • SOMMER PARSCHAUER (SECRETARY)

Selected names, not a complete roster or a statement of current roles. Open leadership details for the complete filed list.

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

Overview

Mission

Owasso preparatory academy is a private christian school in the hybrid model. The corporation's mission is to partner with parents to prepare students for higher education through exceptional academics, quality extra-curricular activities, and purposeful

What it reported doing in 2024

Owasso preparatory academy provides education and training in language, arts, mathematics, science, history, physical education, and various extracurricular classes. Extracurricular classes offered in the 2022-2023 academic year included spanish, art, music, and drama. The academy had 307 students enrolled in the 2022-2023 school year, 225 students enrolled in the 2020-2021 school year, 178 students enrolled in the 2019-2020 school year,140 students enrolled in the 2018-2019 school year and 86 students enrolled in the 2017-2018 school year.

Operating model

Revenue model
Other-operating. 96% of the money available for current operations came from other operating revenue.
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. Some filing-based governance responses are negative or unanswered and fundraising costs are high for each dollar raised.

Rating breakdown

  • Financial Efficiency: 89
  • Transparency & Controls: 90
  • Accountability: 88
  • Sustainability: 48
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 91%; rating input score 91
  • Program expense ratio: 98.3%; rating input score 98
  • Fundraising efficiency: $14.22 raised per $1 spent on fundraising; rating input score 49; 49th percentile among comparable filings

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: 5 of 7 controls in place; rating input score 71
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: NotApplicable
    • Other executive compensation review process: NotApplicable
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Fail
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: 8%; rating input score 58; 58th percentile among comparable filings
  • Total-asset coverage ratio: 0.72; rating input score 27; 27th percentile among comparable filings
  • Liabilities to assets ratio: 0.66; rating input score 14; 14th percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 91; 91st percentile among comparable filings

Growth

  • Program expense growth: 27.3% per year; rating input score 100; 91st percentile among comparable filings
  • Revenue growth: 27% per year; rating input score 100; 93rd percentile among comparable filings
  • Asset growth: 25.4% per year; rating input score 100; 90th percentile among comparable filings

Details

  • Where the money goes: 91% of revenue deployed · 98.3% of spending went to programs
  • Governance: 5 of 5 board members independent · 5 of 7 filing controls reported
  • Programs: 3 filed program accomplishments · $2.3M in reported program spending
  • Leadership: top reported pay $0 · 5 people listed
  • Consistency: 26 of 26 current checks pass
  • Schedules: 5 filed schedules
  • Filing history: 7 filing years from 2017 to 2024
  • Contacts: How to reach this organization
  • Money network: 1 filed money-flow record
  • 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.

  • Review — Accountability: Governance controls: 2 of 7 not reported.
  • Moderate — Financial Efficiency: Fundraising efficiency scored 49/100.
  • High — Sustainability: Total-asset coverage ratio scored 27/100.
  • Review — Sustainability: Operating margin scored 58/100.
  • High — Sustainability: Liabilities to assets ratio scored 14/100.