Mason Preparatory School FY2021 filing

Tax-deductible

Charleston, SC501(c)(3)Since 1964EducationEIN 57-0447248

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Mason Preparatory School is committed to the education of the whole child in preparation for secondary education through the cultivation of respect, integrity, and personal responsibility within a nurturing environment that

501(c)(3) charity; gifts are tax-deductible.
84¢ of each $1 spent went to programs.
$78K 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 5
filings with a surplus
Average surplus $864K a year · 14% of revenue · last 5 filings
Looks good: a surplus in 5 of the last 5 filings.
Pt I · Ln 19 · 5 filings
Spent on programs
84%
of spending
Looks good: 84% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Pay to officers and key staff
$78K
to officers and key staff · 2% of spending
Looks good: pay to officers and key staff is 2% of spending; 15% or less.
Pt VII · Sec A
Cash reserves
10 mo
of spending, in cash
Looks good: 9.9 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
2
named funders · $48K
Fine: 2 funders name it on their filings; under 3.
Funders’ Sch. I, 990-PF
Liabilities
$7.2M
50% of total assets
Looks good: liabilities are 50% of assets; 50% or less.
Pt X · Ln 26
Independent board members
13
of 13 voting members
Looks good: 13 of 13 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$5.7M
Spent
$4.8M
To programs
84%
Net assets
$7.3M
By yearFY2021–FY2025
Revenue
$5.7M
FY2021
Revenue by fiscal year
FY2021$5.7M
FY2022$5.5M
FY2023$5.8M
FY2024$6.8M
FY2025$6.7M
Expenses
$4.8M
FY2021
Expenses by fiscal year
FY2021$4.8M
FY2022$5.1M
FY2023$5.2M
FY2024$5.4M
FY2025$5.6M
Net assets
$7.3M
FY2021
Net assets by fiscal year
FY2021$7.3M
FY2022$7.3M
FY2023$8.1M
FY2024$9.4M
FY2025$10.6M

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

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Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2025. IRS ruling in May 1965.

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

Where the money goes

84 cents of each dollar spent went to programs.

Program services 84% · $4.1M Management & general 16% · $775K

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; $78K 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
$78,325Pt VII · Sec A
Vice Chair
$0Pt VII · Sec A
Secretary
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A

Jennifer Baker’s $156K as Head of School is at the 67th percentile of top reported officer pay among 3395 $1–10M 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 · 5 named individuals · Part VII

NameFY2025FY2024FY2023FY2022FY2021
Jennifer Baker$155,684$150,916$73,507——
Dr Timothy Spurrier Former———$142,115—
Katrina Bryan$108,155$110,491$134,999$98,580—
Stephanie Pierce$104,246$105,627———
Dr Timothy Spurrier————$78,325

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.

See Mason Preparatory School 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

Educates children for secondary school, fostering respect, integrity, and responsibility.

Provided by the organization

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1 program · $4.1M · in their own filed words · FY2020
01

Mason preparatory school educates 289 students from kindergarten through eighth grade programs. The school is accredited by the southern association of colleges and schools (sacs), the southern association of independent schools (sais), and the south carolina independent school association (scisa).

$4.1Mprogram expense

Funders

Who pays for it.

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

Grants

Schedule I · received and paid
Grants received · FY2024
Total grants receivedfrom 2 funders$48K
Grants paid · 5 grants · $1.0M · 2020–2024
Unitemized GrantFY2024$83,210
Unitemized GrantFY2023$219,256
Unitemized GrantFY2022$281,286
Unitemized GrantFY2021$284,599
Unitemized GrantFY2020$154,710

By the numbers

The FY2021 990, line by line.

1The main four
Money inPt VIII
$5.7M
Ln 12
Fees for servicesLn 2g$4.8M
Gifts and grantsLn 1h$612K
Investment incomeLn 3$152K
Money outPt IX
$4.8M
Ln 25
Programscol B$4.1M
Managementcol C$775K
Owns and owesPt X
$7.3M
net assets · Ln 32
Cash and savingsLn 1–2$4.0M
Total assetsLn 16$14.5M
LiabilitiesLn 26$7.2M
PeoplePt VI, VII
14
listed · VII A
PaidVII A1
Voting boardVI 1a13
IndependentVI 1b13
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$612K
Government grantsLn 1e$511K
Fees for servicesLn 2g$4.8M
Investment incomeLn 3$152K
Other incomeLn 4–11$41K
Gains on assetsLn 7$51K
Total revenueLn 12$5.7M
Assets in detailPt X, end of year
CashLn 1$622K
SavingsLn 2$3.4M
Cash and savings togetherLn 1–2$4.0M
InvestmentsLn 11–13$2.4M
Land, buildings, equipmentLn 10c$7.4M
Other assetsLn 15$345K
Total assetsLn 16$14.5M
LiabilitiesLn 26$7.2M
Net assetsLn 32$7.3M
OperationsPt I, VI
EmployeesI 5114
VolunteersI 630
Fiscal year endsHeaderMay
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 FY21End FY21
Cash and savingsLn 1–2$3.7M$4.0M
InvestmentsLn 11–13$1.8M$2.4M
Land, buildings, equipmentLn 10c$7.6M$7.4M
Total assetsLn 16$13.8M$14.5M
LiabilitiesLn 26$7.8M$7.2M
Net assetsLn 32$6.0M$7.3M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Grants to domestic individualsLn 2$155K$155K
Pay of current officers, directors and key staffLn 5$150K$90K$60K
Other salaries and wagesLn 7$2.6M$2.2M$467K
Pension plan contributionsLn 8$43K$36K$7K
Other employee benefitsLn 9$262K$262K
Payroll taxesLn 10$206K$167K$39K
Legal feesLn 11b$20K$20K
Accounting feesLn 11c$10K$10K
Investment management feesLn 11f$16K$16K
Other fees for servicesLn 11g$49K$23K$26K
Advertising and promotionLn 12$43K$43K
Office expensesLn 13$70K$893$69K
Information technologyLn 14$15K$15K
OccupancyLn 16$559K$548K$11K
TravelLn 17$455$455
Conferences, conventions and meetingsLn 19$864$864
Depreciation, depletion and amortizationLn 22$410K$390K$21K
Other expenses (24a–d)Ln 24$201K$188K$13K
Total functional expensesLn 25$4.8M$4.1M$775K$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2025 Latest $6.7M$5.6M$1.1M$10.6M 990 PDF
FY2024 $6.8M$5.4M$1.4M$9.4M 990 PDF
FY2023 $5.8M$5.2M$616K$8.1M 990 PDF
FY2022 $5.5M$5.1M$373K$7.3M 990 PDF
FY2021 Viewing $5.7M$4.8M$803K$7.3M 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 (4 parts)
Part VIII · Statement of revenue $5,650,248 across 8 lines filed
VIII-1e Government grants$511,200
VIII-1f All other contributions, gifts and grants$100,303
VIII-1h Total contributions, gifts and grants$611,503
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $4,846,134$4,846,134
VIII-3 Investment incomeExcluded from tax $100,281$100,281
VIII-7 Net gain or loss on sales of assetsExcluded from tax $51,338$51,338
VIII-11a-d Other revenue, itemized rows (sum of 11a–11d as filed)Related to mission $40,992$40,992
VIII-12 Total revenueRelated to mission $4,887,126 · Excluded from tax $151,619$5,650,248
Part IX · Statement of functional expenses $4,847,193 across 18 lines filed
IX-2 Grants to domestic individualsPrograms $154,710$154,710
IX-5 Pay of current officers, directors and key staffPrograms $90,000 · Management $60,000$150,000
IX-7 Other salaries and wagesPrograms $2,168,873 · Management $467,341$2,636,214
IX-8 Pension plan contributionsPrograms $35,995 · Management $6,648$42,643
IX-9 Other employee benefitsPrograms $262,040$262,040
IX-10 Payroll taxesPrograms $166,924 · Management $39,424$206,348
IX-11b Legal feesManagement $20,051$20,051
IX-11c Accounting feesManagement $10,500$10,500
IX-11f Investment management feesManagement $15,995$15,995
IX-11g Other fees for servicesPrograms $23,353 · Management $25,583$48,936
IX-12 Advertising and promotionPrograms $43,131$43,131
IX-13 Office expensesPrograms $893 · Management $68,813$69,706
IX-14 Information technologyManagement $15,363$15,363
IX-16 OccupancyPrograms $548,371 · Management $10,692$559,063
IX-17 TravelPrograms $455$455
IX-19 Conferences, conventions and meetingsManagement $864$864
IX-22 Depreciation, depletion and amortizationPrograms $389,801 · Management $20,516$410,317
IX-24 Other expenses (24a–d)Programs $187,782 · Management $13,075$200,857
IX-25 Total functional expensesPrograms $4,072,328 · Management $774,865 · Fundraising $0$4,847,193
Part X · Balance sheet $14,487,154 assets, 17 lines filed
X-1 Cash, non-interest-bearingStart of year $621,821$621,942
X-2 Savings and temporary cash investmentsStart of year $3,126,069$3,396,881
X-4 Accounts receivableStart of year $54,142$32,647
X-9 Prepaid expenses and deferred chargesStart of year $97,597$164,971
X-10c Land, buildings and equipment, netStart of year $7,630,092$7,413,246
X-11 Publicly traded securitiesStart of year $1,843,868$2,433,960
X-14 Intangible assetsStart of year $82,146$78,311
X-15 Other assetsStart of year $350,175$345,196
X-16 Total assetsStart of year $13,805,910$14,487,154
X-17 Accounts payable and accrued expensesStart of year $652,642$612,746
X-19 Deferred revenueStart of year $54,425$228,838
X-20 Tax-exempt bond liabilitiesStart of year $6,550,000$6,380,000
X-26 Total liabilitiesStart of year $7,768,267$7,221,584
X-27 Net assets without donor restrictionsStart of year $5,619,219$6,741,653
X-28 Net assets with donor restrictionsStart of year $418,424$523,917
X-32 Total net assets or fund balancesStart of year $6,037,643$7,265,570
X-33 Total liabilities and net assetsStart of year $13,805,910$14,487,154
Part XI · Reconciliation of net assets $7,265,570 net assets at year end
XI-1 Total revenue$5,650,248
XI-2 Total expenses$4,847,193
XI-3 Revenue less expenses$803,055
XI-4 Net assets at start of year$6,037,643
XI-5 Net unrealized gains (losses) on investments$456,987
XI-9 Other changes in net assets−$32,115
XI-10 Net assets at end of year$7,265,570

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

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