Purpose Preparatory Academy, Inc.
Fiscal Year
No current fiscal year information is available at this time.
Organizational Budgets and Other Documents
IRS Letter of Exemption
| Purpose Preparatory Academy IRS Letter |
Detailed Financials
Revenue and Expenses
| Fiscal Year | 2023 | 2022 | 2021 |
|---|---|---|---|
| Total Revenue | $8,192,648.00 | $7,881,900.00 | $6,201,971.00 |
| Total Expenses | $7,279,267.00 | $5,717,162.00 | $4,197,169.00 |
| Revenue Less Expenses | $913,381.00 | $2,164,738.00 | $2,004,802.00 |
Revenue Sources
| Fiscal Year | 2023 | 2022 | 2021 |
|---|---|---|---|
| Foundation and Corporation Contributions | $0.00 | $0.00 | $0.00 |
| Government - Federal | $0.00 | $0.00 | $0.00 |
| Government - State | $0.00 | $0.00 | $0.00 |
| Government - Local | $0.00 | $0.00 | $0.00 |
| Government - Unspecified | $6,902,105.00 | $7,603,216.00 | $5,808,978.00 |
| Contributions, Gifts, and Grants | $1,159,394.00 | $263,688.00 | $386,472.00 |
| Indirect Public Support | $0.00 | $0.00 | $0.00 |
| Earned Revenue | $0.00 | $0.00 | $0.00 |
| Investment Income, Net of Losses | $106,380.00 | $6,757.00 | $5,380.00 |
| Membership Dues | $0.00 | $0.00 | $0.00 |
| Special Events | $0.00 | $0.00 | $0.00 |
| Revenue In-Kind | $0.00 | $0.00 | $0.00 |
| Other | $24,769.00 | $8,239.00 | $1,141.00 |
Expense Allocation
| Fiscal Year | 2023 | 2022 | 2021 |
|---|---|---|---|
| Program Expense | $4,570,311.00 | $3,412,531.00 | $2,533,376.00 |
| Administration Expense | $2,616,432.00 | $2,283,843.00 | $1,625,338.00 |
| Fundraising Expense | $92,524.00 | $20,788.00 | $38,455.00 |
| Total Revenue/Total Expenses | 113% | 138% | 148% |
| Program Expense/Total Expenses | 63% | 60% | 60% |
| Fundraising Expense/Contributed Revenue | 1% | 0% | 1% |
Top Funding Sources
| Fiscal Year | 2023 | 2022 | 2021 |
|---|---|---|---|
| Top Funding Source & Dollar Amount | Government Grants $6,902,105.00 | Government Grants $7,603,216.00 | Government Grants $5,808,978.00 |
| Second Highest Funding Source & Dollar Amount | Contributions, Gifts, and Grants $1,159,394.00 | Contributions, Gifts, and Grants $263,688.00 | Contributions, Gifts, and Grants $386,472.00 |
| Third Highest Funding Source & Dollar Amount | Investment Income $106,380.00 | Other Revenue $8,239.00 | Investment Income $5,380.00 |
Assets and Liabilities
| Fiscal Year | 2023 | 2022 | 2021 |
|---|---|---|---|
| Total Assets | $10,483,673.00 | $10,740,534.00 | $8,996,709.00 |
| Current Assets | $6,436,966.00 | $6,252,263.00 | $4,125,222.00 |
| Long-Term Liabilities | $3,017,912.00 | $3,165,742.00 | $3,294,523.00 |
| Current Liabilities | $494,524.00 | $1,516,936.00 | $1,809,068.00 |
| Total Net Assets | $6,971,237.00 | $6,057,856.00 | $3,893,118.00 |
Endowment Info
Do you have an endowment?
No
Capital Campaign Info
Are you currently in a Capital Campaign?
Yes
Do you anticipate a campaign in the next 5 years?
Yes
What is the campaign goal?
$3,500,000.00
What is the purpose of the capital campaign?
To increase capacity of you current building to hold 400 scholars!
Campaign Start
April 2016
Solicitation Permit Info
State Charitable Solicitations Permit
Exempt
Form 990s
Audit Documents
| 2023 Audit | 2023 |
| 2022 Audit | 2022 |
| 2021 Audit | 2021 |
| 2020 Audit | 2020 |
| 2019 Audit | 2019 |
| 2018 Audit | 2018 |
| 2017 Audit | 2017 |
| 2016 Income Statement | 2016 |
| FY2015IncomeStatement | 2015 |
| 2014 Income Statement | 2014 |
| Purpose Prep Academy 2013 Income Statement | 2013 |
Foundation Staff Comments
| Financials figures taken from the 990. 990 was prepared by Crosslin, PLLC. Comment provided by Hayley Sulfridge 6/13/24. |
