Cambridge Prep Academy Incorporated: FY2024 Nonprofit Profile & Form 990 (EIN 45-4360430)

Revenue by fiscal year
FY2021	$976K
FY2022	$1.1M
FY2023	$1.4M
FY2024	$1.1M
FY2024	$1.2M

Expenses by fiscal year
FY2021	$853K
FY2022	$1.1M
FY2023	$1.5M
FY2024	$1.2M
FY2024	$1.4M

Net assets by fiscal year
FY2021	$44K
FY2022	$64K
FY2023	−$91K
FY2024	−$124K
FY2024	−$364K

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2024. IRS ruling in Dec 2013.

IRS Pub. 78 · IRS Auto-Revocation List · IRS Business Master File

Where the money goes

85 cents of each dollar spent went to programs.

85%

15%

Program services 85% · $987K Management & general 15% · $171K

Form 990 Part IX, line 25, columns B–D. Every line is in By the numbers.

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Who runs it and what they're paid

3 people listed on the 990.

Part VII, Section A · reportable compensation · most recent filed roster (FY2023); the FY2024 filing did not itemize Part VII

Linda Vandervoren

Director

$0Pt VII · Sec A

Courtney Johns

Director

$0Pt VII · Sec A

Jackie Britt

President

$0Pt VII · Sec A

See Cambridge Prep Academy Incorporated executive salaries →

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Questions the 990 asks

The form asks each of these directly. These are the filed answers.

Family or business ties among officersPt VI · Ln 2No
Top official's pay set by an independent reviewPt VI · Ln 15aNo

Programs and updates

Provides tailored learning programs combining award-winning curriculum and exceptional teachers for student success.

Provided by the organization

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1 program · $987K · in their own filed words · FY2023

01

We provided academic programs for higher learning, after school tutoring, and activities for student government

$987Kprogram expense

Funders

Who pays for it.

From grant filings on record. Receipts are incomplete: individual donors are never listed.

Grants

Schedule I · funders on record

Grants received · FY2023

Amazonsmile FoundationFY2023$103

Total grants receivedfrom 1 funder$103

By the numbers

The FY2024 990, line by line.

Download 990

from philanthropy.org

1The main four

Money inPt VIII

$1.1M

Ln 12

Fees for servicesLn 2g$1.1M

Other incomeLn 4–11$16K

Money outPt IX

$1.2M

Ln 25

Programscol B$987K

Managementcol C$171K

Owns and owesPt X

−$124K

net assets · Ln 32

Cash and savingsLn 1–2$130K

Total assetsLn 16$668K

LiabilitiesLn 26$792K

PeoplePt VI, VII

3

listed · VII A

PaidVII A0

Voting boardVI 1a3

IndependentVI 1b3

2In more detail

Revenue in detailPt VIII

Fees for servicesLn 2g$1.1M

Other incomeLn 4–11$16K

Total revenueLn 12$1.1M

Assets in detailPt X, end of year

CashLn 1$130K

Cash and savings togetherLn 1–2$130K

Land, buildings, equipmentLn 10c$227K

Total assetsLn 16$668K

LiabilitiesLn 26$792K

Net assetsLn 32−$124K

OperationsPt I, VI

EmployeesI 50

VolunteersI 60

Fiscal year endsHeaderJune

Conflict-of-interest policyVI 12aYes

Whistleblower policyVI 13No

Records policyVI 14No

3Year over year

Balance sheet, start vs end of yearPt X · col A, B

Line	Start FY24	End FY24
Cash and savingsLn 1–2	$66K	$130K
Land, buildings, equipmentLn 10c	$514K	$227K
Total assetsLn 16	$625K	$668K
LiabilitiesLn 26	$716K	$792K
Net assetsLn 32	−$91K	−$124K

4Every line

Statement of functional expensesPt IX · every line

Line	Total	Programs	Management	Fundraising
Other salaries and wagesLn 7	$614K	$614K
Other employee benefitsLn 9	$8K	$8K
Payroll taxesLn 10	$59K	$59K
Legal feesLn 11b	$4K		$4K
Advertising and promotionLn 12	$6K	$6K
Office expensesLn 13	$67K	$67K
OccupancyLn 16	$165K	$73K	$93K
InsuranceLn 23	$23K	$16K	$7K
Other expenses (24a–d)Ln 24	$186K	$132K	$54K
All other expensesLn 24e	$26K	$13K	$13K
Total functional expensesLn 25	$1.2M	$987K	$171K	$0

Filing history

Year	Money in	Money out	In minus out	Net assets	Download
FY2024 Viewing	$1.1M	$1.2M	−$33K	−$124K	990 PDF
FY2023	$1.4M	$1.5M	−$155K	−$91K	990 PDF
FY2022	$1.1M	$1.1M	$20K	$64K	990 PDF
FY2021	$976K	$853K	$123K	$44K	990 PDF

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Schedules filed Part IV

III · Programs I · Grants R · Related orgs G · Fundraising L · Interested persons A · Public support F · Foreign M · Noncash

See the full FY2024 990 (6 parts)

Part I · Summary $1,125,059 revenue, 12 lines filed

I-8 Contributions and grantsPrior year $0$0

I-9 Program service revenuePrior year $1,355,721$1,109,041

I-10 Investment incomePrior year $0$0

I-11 Other revenuePrior year $24,626$16,018

I-12 Total revenuePrior year $1,380,347$1,125,059

I-13 Grants and similar amounts paidPrior year $0$0

I-14 Benefits paid to membersPrior year $0$0

I-15 Salaries and benefitsPrior year $836,111$680,929

I-16a Professional fundraising feesPrior year $0$0

I-17 Other expensesPrior year $699,340$477,032

I-18 Total expensesPrior year $1,535,451$1,157,961

I-19 Revenue less expensesPrior year −$155,104−$32,902

Part VI · Governance 3 of 3 board members independent, 3 to look at

VI-1a Voting members of the governing body3

VI-1b Independent voting members3

VI-13 Written whistleblower policyNo

VI-14 Document retention and destruction policyNo

VI-15a Process for setting top official's payNo

VI-2 Family or business relationship among officers or directorsNo

VI-12a Written conflict of interest policyYes

Part VIII · Statement of revenue $1,125,059 across 3 lines filed

VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $1,109,041$1,109,041

VIII-11a-d Other revenue, itemized rows (sum of 11a–11d as filed)Related to mission $16,018$16,018

VIII-12 Total revenueRelated to mission $1,125,059 · Unrelated business $0 · Excluded from tax $0$1,125,059

Part IX · Statement of functional expenses $1,157,961 across 10 lines filed

IX-7 Other salaries and wagesPrograms $614,125$614,125

IX-9 Other employee benefitsPrograms $8,034$8,034

IX-10 Payroll taxesPrograms $58,770$58,770

IX-11b Legal feesManagement $4,064$4,064

IX-12 Advertising and promotionPrograms $5,801$5,801

IX-13 Office expensesPrograms $66,981$66,981

IX-16 OccupancyPrograms $72,591 · Management $92,593$165,184

IX-23 InsurancePrograms $15,856 · Management $7,489$23,345

IX-24 Other expenses (24a–d)Programs $132,079 · Management $53,778$185,857

IX-24e All other expensesPrograms $12,961 · Management $12,839$25,800

IX-25 Total functional expensesPrograms $987,198 · Management $170,763 · Fundraising $0$1,157,961

Part X · Balance sheet $667,871 assets, 10 lines filed

X-1 Cash, non-interest-bearingStart of year $65,534$130,407

X-4 Accounts receivableStart of year $45,529$310,414

X-10c Land, buildings and equipment, netStart of year $513,598$227,050

X-16 Total assetsStart of year $624,661$667,871

X-17 Accounts payable and accrued expensesStart of year $205,604$264,494

X-25 Other liabilitiesStart of year $87,864$0

X-26 Total liabilitiesStart of year $715,842$791,954

X-27 Net assets without donor restrictionsStart of year −$91,181−$124,083

X-32 Total net assets or fund balancesStart of year −$91,181−$124,083

X-33 Total liabilities and net assetsStart of year $624,661$667,871

Part XI · Reconciliation of net assets −$124,083 net assets at year end

XI-1 Total revenue$1,125,059

XI-2 Total expenses$1,157,961

XI-3 Revenue less expenses−$32,902

XI-4 Net assets at start of year−$91,181

XI-9 Other changes in net assets$0

XI-10 Net assets at end of year−$124,083

Form 990 e-file (XML) FY2024 from the IRS · Classification, formation year and address from the IRS Business Master File

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Cambridge Prep Academy Incorporated FY2024 filing

Before you give

Is it real?

Where the money goes

Who runs it and what they're paid

Questions the 990 asks

Programs and updates

Funders

Grants

By the numbers

Filing history

Schedules filed Part IV