Scholarship Prep Charter School FY2021 filing

Tax-deductible

Santa Ana, CA501(c)(3)Since 2015EducationEIN 47-3943780Revenue $19.3M in FY2021

On file with the IRSscholarshipschools.org1010 W 17th St, 92706-3504 · Santa Ana, CATax-exempt since Dec 2015School — 170(b)(1)(A)(ii)

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To provide a university-inspired pathway of success while closing the achievement gap for all students, including foster youth and those underserved.

501(c)(3) charity; gifts are tax-deductible.
74¢ of each $1 spent went to programs.
$1.1M paid to officers and key staff.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX · Pay: Part VII

Before you give

FY2021 · 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
5 of 6
filings with a surplus
Average surplus $1.6M a year · 6% of revenue · last 6 filings
Fine: a surplus in 5 of the last 6 filings.
Pt I · Ln 19 · 6 filings
Spent on programs
74%
of spending
Fine: 74% of spending went to programs; 65% to 75%.
Pt IX · Ln 25 · col B
Pay to officers and key staff
$1.1M
to officers and key staff · 7% of spending
Looks good: pay to officers and key staff is 7% of spending; 15% or less.
Pt VII · Sec A
Cash reserves
13 mo
of spending, in cash
Looks good: 13.1 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
1
named funder · $10K
Fine: 1 funder names it on their filings; under 3.
Funders’ Sch. I, 990-PF
Liabilities
$20.4M
75% of total assets
Worth a look: liabilities are 75% of assets; over 65%.
Pt X · Ln 26
Independent board members
7
of 7 voting members
Looks good: 7 of 7 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$19.3M
+29% vs prior year
Spent
$14.6M
To programs
74%
Net assets
$6.8M
By yearFY2020–FY2025
Revenue
$19.3M
FY2021▲ +29%
Tap a bar for its year
Revenue by fiscal year
FY2020$15.0M
FY2021$19.3M
FY2022$21.9M
FY2023$31.4M
FY2024$36.1M
FY2025$35.0M
Expenses
$14.6M
FY2021▼ -5%
Tap a bar for its year
Expenses by fiscal year
FY2020$15.4M
FY2021$14.6M
FY2022$20.1M
FY2023$29.7M
FY2024$34.5M
FY2025$34.9M
Net assets
$6.8M
FY2021▲ +218%
Tap a bar for its year
Net assets by fiscal year
FY2020$2.1M
FY2021$6.8M
FY2022$8.7M
FY2023$10.5M
FY2024$12.1M
FY2025$12.3M

From the FY2021 Form 990 (year ending June 2021) · figures checked against the IRS filing · see the original

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You’re viewing the FY2021 filing — not the latest on file. See the latest (FY2025) →

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2025. IRS ruling in Dec 2015.

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

Where the money goes

74 cents of each dollar spent went to programs.

Program services 74% · $10.9M Management & general 26% · $3.8M Fundraising 0% · $592

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

14 people listed on the 990; $1.1M paid to officers and key staff.

Part VII, Section A · reportable compensation · most recent filed roster (FY2020); the FY2021 filing did not itemize Part VII
Co-Founder and Executive D
$234,375Pt VII · Sec A
Co-Founder and Chief Opera
$203,125Pt VII · Sec A
Chief Academic Officer
$182,292Pt VII · Sec A
$119,792Pt VII · Sec A
Chief Growth Officer
$111,721Pt VII · Sec A
Principal
$109,210Pt VII · Sec A
Lead Psychologist
$106,400Pt VII · Sec A
Board Member
$0Pt VII · Sec A

Jason Watts’s $258K as Co-Founder & Executive Dir is at the 55th percentile of top reported officer pay among 3683 $10–100M education nonprofits. Peer set: organizations in the same NTEE major field of work and revenue-size band, compared on each org’s own highest-paid officer/key-employee, from Form 990 Part VII / 990-PF Part VIII. Descriptive placement, not a verdict on whether the pay is appropriate.

Compensation history total reportable pay by year · 8 named individuals · Part VII

NameFY2025FY2024FY2023FY2022FY2021FY2020
Jason Watts$257,930$229,662$246,375$222,347$203,125$180,375
Andrew Crowe$239,432$203,481$205,537$197,750$182,292$158,750
Senator Gloria Romero———$80,625$234,375$180,583
Sarah Schoenfeld-Nakamoto$196,157$133,667$144,637$128,011——
Nicholas Sessions$191,365—————
Taylor Ellis$181,846$145,134$137,025$127,834——
Allison Vann$175,741—————
Kristen D Crowe$175,563$140,373$126,875———

Total reportable compensation (Form 990 Part VII column D / Schedule J column E) by filing year, matched by name within this organization. The Schedule J base / bonus / deferred breakdown is not parsed into this dataset.

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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

Empowering students with a university-inspired path to success.

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Provided by the organization

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1 program · $10.9M · in their own filed words · FY2020
01

Operating three public charter schools serving about 1,072 students from kindergarten through 8TH grade for 179 instructional days.

$10.9Mprogram 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 · FY2024
Total grants receivedfrom 1 funder$10K

By the numbers

The FY2021 990, line by line.

1The main four
Money inPt VIII
$19.3M
Ln 12
Gifts and grantsLn 1h$19.2M
Other incomeLn 4–11$79K
Investment incomeLn 3$13K
Money outPt IX
$14.6M
Ln 25
Programscol B$10.9M
Managementcol C$3.8M
Fundraisingcol D$592
Owns and owesPt X
$6.8M
net assets · Ln 32
Cash and savingsLn 1–2$16.0M
Total assetsLn 16$27.3M
LiabilitiesLn 26$20.4M
PeoplePt VI, VII
14
listed · VII A
PaidVII A7
Voting boardVI 1a7
IndependentVI 1b7
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$19.2M
Government grantsLn 1e$19.2M
Investment incomeLn 3$13K
Other incomeLn 4–11$79K
Total revenueLn 12$19.3M
Assets in detailPt X, end of year
CashLn 1$2.1M
SavingsLn 2$13.9M
Cash and savings togetherLn 1–2$16.0M
Land, buildings, equipmentLn 10c$5.4M
Total assetsLn 16$27.3M
LiabilitiesLn 26$20.4M
Net assetsLn 32$6.8M
OperationsPt I, VI
EmployeesI 5323
VolunteersI 6432
Fiscal year endsHeaderJune
Conflict-of-interest policyVI 12aYes
Whistleblower policyVI 13No
Records policyVI 14Yes
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY21End FY21
Cash and savingsLn 1–2$1.8M$16.0M
Land, buildings, equipmentLn 10c$986K$5.4M
Total assetsLn 16$5.2M$27.3M
LiabilitiesLn 26$3.1M$20.4M
Net assetsLn 32$2.1M$6.8M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Pay of current officers, directors and key staffLn 5$486K$389K$97K
Other salaries and wagesLn 7$6.9M$5.3M$1.6M
Pension plan contributionsLn 8$1.1M$883K$235K
Other employee benefitsLn 9$746K$591K$156K
Payroll taxesLn 10$217K$167K$51K
Management feesLn 11a$288K$288K
Legal feesLn 11b$57K$57K
Accounting feesLn 11c$32K$32K
Other fees for servicesLn 11g$767K$594K$173K
Advertising and promotionLn 12$21K$21K
Office expensesLn 13$726K$512K$214K
Information technologyLn 14$109K$84K$26K
OccupancyLn 16$1.6M$1.2M$386K
TravelLn 17$9K$9K
InterestLn 20$271K$271K
Depreciation, depletion and amortizationLn 22$207K$159K$49K
InsuranceLn 23$82K$63K$19K
Other expenses (24a–d)Ln 24$929K$892K$37K$592
Total functional expensesLn 25$14.6M$10.9M$3.8M$592

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2025 Latest $35.0M$34.9M$84K$12.3M 990 PDF
FY2024 $36.1M$34.5M$1.7M$12.1M 990 PDF
FY2023 $31.4M$29.7M$1.8M$10.5M 990 PDF
FY2022 $21.9M$20.1M$1.9M$8.7M 990 PDF
FY2021 Viewing $19.3M$14.6M$4.7M$6.8M 990 PDF
FY2020 $15.0M$15.4M−$462K$2.1M 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 FY2021 990 (6 parts)
Part I · Summary $19,294,773 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $14,819,918$19,203,179
I-9 Program service revenuePrior year $121,330$0
I-10 Investment incomePrior year $10,689$12,628
I-11 Other revenuePrior year $12,023$78,966
I-12 Total revenuePrior year $14,963,960$19,294,773
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 $9,787,160$9,509,812
I-16a Professional fundraising feesPrior year $0$0
I-17 Other expensesPrior year $5,638,366$5,108,375
I-18 Total expensesPrior year $15,425,526$14,618,187
I-19 Revenue less expensesPrior year −$461,566$4,676,586
Part VI · Governance 7 of 7 board members independent, 1 to look at
VI-1a Voting members of the governing body7
VI-1b Independent voting members7
VI-13 Written whistleblower policyNo
VI-2 Family or business relationship among officers or directorsNo
VI-12a Written conflict of interest policyYes
VI-14 Document retention and destruction policyYes
VI-15a Process for setting top official's payYes
Part VIII · Statement of revenue $19,294,773 across 6 lines filed
VIII-1e Government grants$19,154,494
VIII-1f All other contributions, gifts and grants$48,685
VIII-1h Total contributions, gifts and grants$19,203,179
VIII-3 Investment incomeExcluded from tax $12,628$12,628
VIII-11a-d Other revenue, itemized rows (sum of 11a–11d as filed)Related to mission $182 · Excluded from tax $78,784$78,966
VIII-12 Total revenueRelated to mission $182 · Unrelated business $0 · Excluded from tax $91,412$19,294,773
Part IX · Statement of functional expenses $14,618,187 across 18 lines filed
IX-5 Pay of current officers, directors and key staffPrograms $388,697 · Management $97,174$485,871
IX-7 Other salaries and wagesPrograms $5,310,018 · Management $1,632,053$6,942,071
IX-8 Pension plan contributionsPrograms $883,379 · Management $234,650$1,118,029
IX-9 Other employee benefitsPrograms $590,585 · Management $155,820$746,405
IX-10 Payroll taxesPrograms $166,697 · Management $50,739$217,436
IX-11a Management feesManagement $287,843$287,843
IX-11b Legal feesManagement $57,305$57,305
IX-11c Accounting feesManagement $32,005$32,005
IX-11g Other fees for servicesPrograms $593,978 · Management $172,984$766,962
IX-12 Advertising and promotionManagement $21,331$21,331
IX-13 Office expensesPrograms $511,933 · Management $214,233$726,166
IX-14 Information technologyPrograms $83,858 · Management $25,529$109,387
IX-16 OccupancyPrograms $1,223,129 · Management $385,963$1,609,092
IX-17 TravelManagement $8,517$8,517
IX-20 InterestManagement $271,362$271,362
IX-22 Depreciation, depletion and amortizationPrograms $158,512 · Management $48,866$207,378
IX-23 InsurancePrograms $62,816 · Management $19,122$81,938
IX-24 Other expenses (24a–d)Programs $891,516 · Management $36,981 · Fundraising $592$929,089
IX-25 Total functional expensesPrograms $10,865,118 · Management $3,752,477 · Fundraising $592$14,618,187
Part X · Balance sheet $27,254,087 assets, 16 lines filed
X-1 Cash, non-interest-bearingStart of year $1,518,245$2,130,745
X-2 Savings and temporary cash investmentsStart of year $241,786$13,868,738
X-4 Accounts receivableStart of year $2,045,340$5,271,400
X-9 Prepaid expenses and deferred chargesStart of year $417,304$624,275
X-10c Land, buildings and equipment, netStart of year $986,054$5,358,929
X-16 Total assetsStart of year $5,208,729$27,254,087
X-17 Accounts payable and accrued expensesStart of year $667,244$972,259
X-19 Deferred revenueStart of year $181,556$825,563
X-20 Tax-exempt bond liabilitiesStart of year $0$16,967,906
X-24 Unsecured notes and loans payableStart of year $2,217,266$320,832
X-25 Other liabilitiesStart of year $0$773,278
X-26 Total liabilitiesStart of year $3,066,066$20,434,838
X-27 Net assets without donor restrictionsStart of year $2,131,897$6,777,077
X-28 Net assets with donor restrictionsStart of year $10,766$42,172
X-32 Total net assets or fund balancesStart of year $2,142,663$6,819,249
X-33 Total liabilities and net assetsStart of year $5,208,729$27,254,087
Part XI · Reconciliation of net assets $6,819,249 net assets at year end
XI-1 Total revenue$19,294,773
XI-2 Total expenses$14,618,187
XI-3 Revenue less expenses$4,676,586
XI-4 Net assets at start of year$2,142,663
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$6,819,249

Form 990 e-file (XML) FY2021 from the IRS · Classification, formation year and address from the IRS Business Master File

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