Shorecrest Preparatory School

Legal name: Shorecrest Preparatory School Inc

Nonprofit profile at a glance

EIN
237412158
IRS 990 coverage
2009–2024
Official website data refreshed
Sep 2026
Forms available
Form 990 2024, Form 990-N 2009
Location
St. Petersburg, FL, United States
Phone
727-522-2111
Rating
80
Verdict
STRONG
Rating confidence
Moderate
Sector
Elementary, Secondary Education, K - 12

Official website

Reported finances

Revenue
$38,979,412
Expenses
$35,823,590
Assets
$98,603,748
Liabilities
$40,163,028

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

Leadership & pay

28 people listed

Highest reported compensation

  • NANCY SPENCER (HEAD OF SCHOOL): $443,250 total reported compensation
  • LISA WYLIE (CFO): $234,929 total reported compensation
  • MICHAEL GILLIS (DIRECTOR OF ADVANCEMENT): $195,286 total reported compensation

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

Overview

Mission

Shorecrest Preparatory School is a private, college-preparatory school serving students from age 3 through grade 12 in St. Petersburg, Florida. Its mission is to provide a challenging academic program in a diverse, inclusive community that fosters intellectual curiosity, integrity, and a commitment to service.

What it reported doing in 2024

Shorecrest preparatory school educated 1,021 students from pk3 through 12th grade during the 2024-2025 school year. The 87 graduates of the class of 2025 collectively contributed over 12,000 hours of service to the community during their tenure and went on to attend an impressive selection of colleges and universities. The year began with the completion of the centennial stadium project, a new multi-sport turf field to support football, soccer, track, and the addition of both boys and girls lacrosse. In early fall, the region was challenged by back-to-back hurricanes. In response, the shorecrest community established a disaster relief fund for impacted faculty and staff, demonstrating the remarkable resilience that defines the school.academic innovation flourished with the (continued on schedule o) expansion of the ross roeder institute for financial literacy, entrepreneurship and economics to include the warren workshop, where students learn directly from business leaders. In the spring, the 2025 shorecrest gala made history by marking the establishment of the school's first-ever general endowment. The fund, launched through donor gifts totaling more than $2 million, is designed to provide a permanent, predictable funding stream that will support innovative educational initiatives and opportunities for generations to come.

Operating model

Revenue model
Earned-program. 87% of the money available for current operations came from fees and other program revenue.
Distribution model
Direct operator. The filing allocates 91% 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.
  • Includes noncash contributions: Reported contributions include donated property or goods.

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 filing-based governance responses are negative or unanswered.

Rating breakdown

  • Financial Efficiency: 72
  • Transparency & Controls: 83
  • Accountability: 91
  • Sustainability: 62
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 75.9%; rating input score 76
  • Program expense ratio: 85.4%; rating input score 85
  • Fundraising efficiency: $3.87 raised per $1 spent on fundraising; rating input score 15; 15th percentile among comparable filings

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 62nd percentile among comparable filings
  • Pay-setting controls: 3 of 6 controls in place; rating input score 50
    • Compensation committee: Missing
    • Independent consultant: Missing
    • Other Form 990s reviewed: Missing
    • Written employment contract: Pass
    • Compensation survey or study: Pass
    • 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; 66th percentile among comparable filings
  • Governance controls: 7 of 9 controls in place; rating input score 78
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: Pass
    • Other executive compensation review process: Fail
    • Form 990 shared with the board: Fail
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: 8.1%; rating input score 63; 63rd percentile among comparable filings
  • Total-asset coverage ratio: 2.75; rating input score 72; 72nd percentile among comparable filings
  • Liabilities to assets ratio: 0.41; rating input score 36; 36th percentile among comparable filings
  • Officer compensation ratio: 4.2%; rating input score 58; 58th percentile among comparable filings

Growth

  • Program expense growth: 7.5% per year; rating input score 100; 58th percentile among comparable filings
  • Revenue growth: 5.2% per year; rating input score 100; 45th percentile among comparable filings
  • Asset growth: 6.4% per year; rating input score 100; 45th percentile among comparable filings

Details

  • What they do: 5 programs and campaigns described on the official site · 1 operating location identified
  • Where the money goes: 75.9% of revenue deployed · 85.4% of spending went to programs
  • Governance: 21 of 21 board members independent · 7 of 9 filing controls reported
  • Programs: 1 filed program accomplishment · $30.6M in reported program spending
  • Leadership: top reported pay $443K · 28 people listed · 3 of 6 pay-setting controls reported
  • Highest-paid contractors: 5 contractors listed · $2.5M reported
  • Consistency: 38 of 38 current checks pass
  • Schedules: 10 filed schedules · includes major donors, grants, and executive pay
  • Filing history: 16 filing years from 2009 to 2024
  • Contacts: How to reach this organization
  • Money network: 8 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.
  • 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.

  • High — Financial Efficiency: Fundraising efficiency scored 15/100.
  • Review — Accountability: Governance controls: 2 of 9 not reported.
  • Moderate — Sustainability: Liabilities to assets ratio scored 36/100.
  • Review — Sustainability: Officer compensation ratio scored 58/100.