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Liberty Prep FY2024 filing

Tax-deductible

Smithville, OH501(c)(3)Since 2013EducationEIN 46-1734441

Public Community School providing credit recovery for students in grades 9 - 12 from Wayne and surrounding counties.

501(c)(3) charity; gifts are tax-deductible.
100¢ of each $1 spent went to programs.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX

Before you give

FY2024 · Form 990Independent: from IRS data, not the org
Download 990
IRS status
501(c)(3)
not on the IRS revocation list
Looks good: listed by the IRS and not on the revocation list.
IRS BMF · Auto-Revocation List
Tax-deductible gifts
Yes
Donations are tax-deductible
Looks good: the IRS lists gifts to it as deductible.
IRS Pub. 78 · IRS BMF
Latest return
FY2025
latest Form 990
Looks good: the latest return is for FY2025, 1 tax year back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
4 of 4
filings with a surplus
Average surplus $132K a year · 17% of revenue · last 4 filings
Looks good: a surplus in 4 of the last 4 filings.
Pt I · Ln 19 · 4 filings
Spent on programs
100%
of spending
Looks good: 100% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Cash reserves
8 mo
of spending, in cash
Looks good: 7.6 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
1
named funder · $5K
Fine: 1 funder names it on their filings; under 3.
Funders’ Sch. I, 990-PF
Liabilities
$0
0% of total assets
Looks good: liabilities are 0% of assets; 50% or less.
Pt X · Ln 26
Independent board members
5
of 5 voting members
Looks good: 5 of 5 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$853K
+17% vs prior year
Spent
$747K
To programs
100%
Net assets
$474K
By yearFY2022–FY2025
Revenue
$853K
FY2024▲ +17%
Revenue by fiscal year
FY2022$658K
FY2023$729K
FY2024$853K
FY2025$888K
FY2025$982K
Expenses
$747K
FY2024▲ +33%
Expenses by fiscal year
FY2022$571K
FY2023$563K
FY2024$747K
FY2025$718K
FY2025$870K
Net assets
$474K
FY2024▲ +29%
Net assets by fiscal year
FY2022$203K
FY2023$369K
FY2024$474K
FY2025$644K
FY2025$756K

From the FY2024 Form 990 (year ending June 2024) · see the original

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You’re viewing the FY2024 filing — not the latest on file. See the latest (FY2025) →

Is it real?

Yes. Exemption reinstated (2017-11-15). Per the IRS revocation list. Latest filing on record: FY2025. IRS ruling in Apr 2022.

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

Where the money goes

100 cents of each dollar spent went to programs.

Program services 100% · $747K

Form 990 Part IX, line 25. Every line is in By the numbers.

Who runs it and what they're paid

5 people listed on the 990.

Part VII, Section A · reportable compensation · most recent filed roster (FY2023); the FY2024 filing did not itemize Part VII
Misty Hanson
Board President
$0Pt VII · Sec A
Cameron Maneese
Board Member
$0Pt VII · Sec A
Helen Bartashus
Board Member
$0Pt VII · Sec A
Justin Chenevey
Board Member
$0Pt VII · Sec A
Matt Brown
Board Vice President
$0Pt VII · Sec A
See Liberty Prep 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 15aYes

Programs and updates

Offers credit recovery for high school students in Wayne and surrounding counties.

Provided by the organization

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1 program service account for $747K of program spending, described in the organization's own filed words · FY2023.
01

Public Community School Grades 9-12 Credit Recovery for approximately 60 students. 18 students graduated in May 2024.

$747Kprogram expense

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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
Short Family FoundationFY2023$5K
Total grants receivedfrom 1 funder$5K

By the numbers

The FY2024 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$853K
Ln 12
Fees for servicesLn 2g$616K
Gifts and grantsLn 1h$228K
Investment incomeLn 3$8K
Money outPt IX
$747K
Ln 25
Programscol B$747K
Owns and owesPt X
$474K
net assets · Ln 32
Cash and savingsLn 1–2$474K
Total assetsLn 16$474K
LiabilitiesLn 26$0
PeoplePt VI, VII
5
listed · VII A
PaidVII A0
Voting boardVI 1a5
IndependentVI 1b5
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$228K
Government grantsLn 1e$228K
Noncash giftsLn 1g$0
Fundraising eventsLn 1c$0
Fees for servicesLn 2g$616K
Investment incomeLn 3$8K
Total revenueLn 12$853K
Assets in detailPt X, end of year
CashLn 1$69K
SavingsLn 2$405K
Cash and savings togetherLn 1–2$474K
Total assetsLn 16$474K
LiabilitiesLn 26$0
Net assetsLn 32$474K
OperationsPt I, VI
EmployeesI 50
VolunteersI 65
Fiscal year endsHeaderJune
Conflict-of-interest policyVI 12aYes
Whistleblower policyVI 13Yes
Records policyVI 14Yes
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY24End FY24
Cash and savingsLn 1–2$369K$474K
Total assetsLn 16$369K$474K
LiabilitiesLn 26$0$0
Net assetsLn 32$369K$474K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
All other expensesLn 24e$747K$747K$0$0
Total functional expensesLn 25$747K$747K$0$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2025 $888K$718K$170K$644K 990 PDF
FY2024 Viewing $853K$747K$106K$474K 990 PDF
FY2023 $729K$563K$166K$369K 990 PDF
FY2022 $658K$571K$87K$203K 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 (4 parts)
Part VIII · Statement of revenue $852,725 across 11 lines filed
Lines not itemized here account for $616,037 of total revenue; see the IRS return.
VIII-1a Federated campaigns$0
VIII-1b Membership dues$0
VIII-1c Fundraising events$0
VIII-1d Related organizations$0
VIII-1e Government grants$228,398
VIII-1f All other contributions, gifts and grants$0
VIII-1g Noncash contributions (included above)$0
VIII-1h Total contributions, gifts and grants$228,398
VIII-3 Investment incomeRelated to mission $8,290 · Unrelated business $0 · Excluded from tax $0$8,290
VIII-5 RoyaltiesRelated to mission $0 · Unrelated business $0 · Excluded from tax $0$0
VIII-12 Total revenueRelated to mission $624,327 · Unrelated business $0 · Excluded from tax $0$852,725
Part IX · Statement of functional expenses $747,105 across 1 line filed
IX-24e All other expensesPrograms $747,105 · Management $0 · Fundraising $0$747,105
IX-25 Total functional expensesPrograms $747,105 · Management $0 · Fundraising $0$747,105
Part X · Balance sheet $474,165 assets, 13 lines filed
X-1 Cash, non-interest-bearingStart of year $11,715$69,045
X-2 Savings and temporary cash investmentsStart of year $356,830$405,120
X-16 Total assetsStart of year $368,545$474,165
X-17 Accounts payable and accrued expensesStart of year $0$0
X-18 Grants payableStart of year $0$0
X-19 Deferred revenueStart of year $0$0
X-20 Tax-exempt bond liabilitiesStart of year $0$0
X-24 Unsecured notes and loans payableStart of year $0$0
X-26 Total liabilitiesStart of year $0$0
X-27 Net assets without donor restrictionsStart of year $368,545$474,165
X-28 Net assets with donor restrictionsStart of year $0$0
X-32 Total net assets or fund balancesStart of year $368,545$474,165
X-33 Total liabilities and net assetsStart of year $368,545$474,165
Part XI · Reconciliation of net assets $474,165 net assets at year end
XI-1 Total revenue$852,725
XI-2 Total expenses$747,105
XI-3 Revenue less expenses$105,620
XI-4 Net assets at start of year$368,545
XI-5 Net unrealized gains (losses) on investments$0
XI-6 Donated services and use of facilities$0
XI-7 Investment expenses$0
XI-8 Prior period adjustments$0
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$474,165

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

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