Oakbrook Preparatory School FY2024 filing

Tax-deductible

Spartanburg, SC501(c)(3)Since 1990EIN 57-0921126Revenue $5.3M in FY2024

On file with the IRSoakbrookprep.org190 Lincoln School Rd, 29301-5581 · Spartanburg, SCTax-exempt since Mar 1992School — 170(b)(1)(A)(ii)

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Built on a foundation of Christian faith, Oakbrook Preparatory School educates students to be independent learners in a changing world.

501(c)(3) charity; gifts are tax-deductible.
79¢ of each $1 spent went to programs.
$110K 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

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
2 of 5
filings with a surplus
Average deficit $162K a year · 3% of revenue · last 5 filings
Concern: a surplus in 2 of the last 5 filings.
Pt I · Ln 19 · 5 filings
Spent on programs
79%
of spending
Looks good: 79% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Pay to officers and key staff
$110K
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
1 mo
of spending, in cash
Fine: 1.3 months of spending in cash; 1 to 3.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
1
named funder · $6K
Fine: 1 funder names it on their filings; under 3.
Funders’ Sch. I, 990-PF
Liabilities
$3.4M
46% of total assets
Looks good: liabilities are 46% of assets; 50% or less.
Pt X · Ln 26
Independent board members
10
of 10 voting members
Looks good: 10 of 10 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$5.3M
-7% vs prior year
Spent
$6.1M
To programs
79%
Net assets
$4.0M
By yearFY2021–FY2025
Revenue
$5.3M
FY2024▼ -7%
Tap a bar for its year
Revenue by fiscal year
FY2021$5.1M
FY2022$5.8M
FY2023$5.8M
FY2024$5.3M
FY2025$6.3M
Expenses
$6.1M
FY2024▲ +4%
Tap a bar for its year
Expenses by fiscal year
FY2021$4.9M
FY2022$5.5M
FY2023$5.9M
FY2024$6.1M
FY2025$6.8M
Net assets
$4.0M
FY2024▼ -15%
Tap a bar for its year
Net assets by fiscal year
FY2021$4.7M
FY2022$5.0M
FY2023$4.7M
FY2024$4.0M
FY2025$3.8M

From the FY2024 Form 990 (year ending June 2024) · 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 Mar 1992.

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

Where the money goes

79 cents of each dollar spent went to programs.

Program services 79% · $4.8M Management & general 20% · $1.2M Fundraising 2% · $99K

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

11 people listed on the 990; $110K paid to officers and key staff.

Part VII, Section A · reportable compensation · most recent filed roster (FY2023); the FY2024 filing did not itemize Part VII
Head of School
$110,380Pt VII · Sec A
Board Member
$0Pt VII · Sec A
Board Member
$0Pt VII · Sec A
Finance Chair
$0Pt VII · Sec A
$0Pt VII · Sec A
Vice Chair
$0Pt VII · Sec A
Governance Chair
$0Pt VII · Sec A
Bg Chair
$0Pt VII · Sec A

Compensation history total reportable pay by year · 3 named individuals · Part VII

NameFY2025FY2024FY2023FY2021
Kyle Boyles—$110,380$105,333$93,725
Amanda Ledbetter$98,721———
Alicia Womick$97,315———

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

Educates students to be independent learners in a changing world.

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Provided by the organization

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1 program · $4.8M · in their own filed words · FY2023
01

Oakbrook Preparatory School provides a faith-based, liberal arts education to children enrolled in PreK-12. The school serves approx. 450 students and provides a full range of curricular and co-curricular programs. Oakbrook is accredited through AdvanceED/Cognia.

$4.8Mprogram 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 · FY2025
Total grants receivedfrom 1 funder$6K
Grants paid · 1 grant · $559K · 2020–2020
Individual RecipientFY2020$559,000

By the numbers

The FY2024 990, line by line.

1The main four
Money inPt VIII
$5.3M
Ln 12
Fees for servicesLn 2g$5.1M
Gifts and grantsLn 1h$236K
Investment incomeLn 3$6K
Money outPt IX
$6.1M
Ln 25
Programscol B$4.8M
Managementcol C$1.2M
Fundraisingcol D$99K
Owns and owesPt X
$4.0M
net assets · Ln 32
Cash and savingsLn 1–2$671K
Total assetsLn 16$7.4M
LiabilitiesLn 26$3.4M
PeoplePt VI, VII
11
listed · VII A
PaidVII A1
Voting boardVI 1a10
IndependentVI 1b10
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$236K
Government grantsLn 1e$31K
Fees for servicesLn 2g$5.1M
Investment incomeLn 3$6K
Total revenueLn 12$5.3M
Assets in detailPt X, end of year
CashLn 1$180K
SavingsLn 2$492K
Cash and savings togetherLn 1–2$671K
Land, buildings, equipmentLn 10c$6.6M
Total assetsLn 16$7.4M
LiabilitiesLn 26$3.4M
Net assetsLn 32$4.0M
OperationsPt I, VI
EmployeesI 5135
VolunteersI 650
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 FY24End FY24
Cash and savingsLn 1–2$805K$671K
Land, buildings, equipmentLn 10c$7.0M$6.6M
Total assetsLn 16$8.4M$7.4M
LiabilitiesLn 26$3.6M$3.4M
Net assetsLn 32$4.7M$4.0M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Grants to domestic individualsLn 2$669K$669K
Pay of current officers, directors and key staffLn 5$110K$77K$17K$17K
Other salaries and wagesLn 7$2.8M$2.3M$511K
Other employee benefitsLn 9$232K$181K$51K
Payroll taxesLn 10$233K$182K$51K
Legal feesLn 11b$32K$32K
Accounting feesLn 11c$69K$69K
Other fees for servicesLn 11g$249K$63K$186K
Advertising and promotionLn 12$82K$82K
Office expensesLn 13$91K$91K
OccupancyLn 16$440K$343K$97K
InterestLn 20$91K$71K$20K
Depreciation, depletion and amortizationLn 22$387K$302K$85K
Other expenses (24a–d)Ln 24$635K$635K
Total functional expensesLn 25$6.1M$4.8M$1.2M$99K

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2025 Latest $6.3M$6.8M−$501K$3.8M 990 PDF
FY2024 Viewing $5.3M$6.1M−$742K$4.0M 990 PDF
FY2023 $5.8M$5.9M−$103K$4.7M 990 PDF
FY2022 $5.8M$5.5M$296K$5.0M 990 PDF
FY2021 $5.1M$4.9M$238K$4.7M 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 $5,347,143 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $570,381$235,966
I-9 Program service revenuePrior year $5,186,700$5,104,863
I-10 Investment incomePrior year $13,205$6,314
I-11 Other revenue$0
I-12 Total revenuePrior year $5,770,286$5,347,143
I-13 Grants and similar amounts paidPrior year $759,121$668,994
I-14 Benefits paid to members$0
I-15 Salaries and benefitsPrior year $2,993,650$3,344,647
I-16a Professional fundraising fees$0
I-17 Other expensesPrior year $2,120,464$2,075,254
I-18 Total expensesPrior year $5,873,235$6,088,895
I-19 Revenue less expensesPrior year −$102,949−$741,752
Part VI · Governance 10 of 10 board members independent, 1 to look at
VI-1a Voting members of the governing body10
VI-1b Independent voting members10
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 $5,347,143 across 7 lines filed
VIII-1e Government grants$30,875
VIII-1f All other contributions, gifts and grants$66,590
VIII-1h Total contributions, gifts and grants$235,966
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $5,104,863$5,104,863
VIII-3 Investment incomeRelated to mission $6,314$6,314
VIII-8 Net income from fundraising events$0
VIII-12 Total revenueRelated to mission $5,111,177$5,347,143
Part IX · Statement of functional expenses $6,088,895 across 14 lines filed
IX-2 Grants to domestic individualsPrograms $668,994$668,994
IX-5 Pay of current officers, directors and key staffPrograms $77,266 · Management $16,557 · Fundraising $16,557$110,380
IX-7 Other salaries and wagesPrograms $2,258,312 · Management $510,800$2,769,112
IX-9 Other employee benefitsPrograms $180,886 · Management $51,019$231,905
IX-10 Payroll taxesPrograms $181,935 · Management $51,315$233,250
IX-11b Legal feesManagement $31,500$31,500
IX-11c Accounting feesManagement $68,732$68,732
IX-11g Other fees for servicesPrograms $62,561 · Management $186,248$248,809
IX-12 Advertising and promotionFundraising $82,070$82,070
IX-13 Office expensesManagement $91,193$91,193
IX-16 OccupancyPrograms $342,952 · Management $96,730$439,682
IX-20 InterestPrograms $71,295 · Management $20,109$91,404
IX-22 Depreciation, depletion and amortizationPrograms $301,635 · Management $85,077$386,712
IX-24 Other expenses (24a–d)Programs $635,152$635,152
IX-25 Total functional expensesPrograms $4,780,988 · Management $1,209,280 · Fundraising $98,627$6,088,895
Part X · Balance sheet $7,415,417 assets, 13 lines filed
X-1 Cash, non-interest-bearingStart of year $204,272$179,737
X-2 Savings and temporary cash investmentsStart of year $600,346$491,517
X-4 Accounts receivableStart of year $112,139$89,872
X-9 Prepaid expenses and deferred chargesStart of year $46,116$12,751
X-10c Land, buildings and equipment, netStart of year $6,969,438$6,627,555
X-14 Intangible assetsStart of year $15,318$13,985
X-16 Total assetsStart of year $8,360,022$7,415,417
X-17 Accounts payable and accrued expensesStart of year $351,360$334,286
X-19 Deferred revenueStart of year $163,268$92,748
X-26 Total liabilitiesStart of year $3,640,605$3,419,077
X-27 Net assets without donor restrictionsStart of year $4,593,096$3,996,340
X-32 Total net assets or fund balancesStart of year $4,719,417$3,996,340
X-33 Total liabilities and net assetsStart of year $8,360,022$7,415,417
Part XI · Reconciliation of net assets $3,996,340 net assets at year end
XI-1 Total revenue$5,347,143
XI-2 Total expenses$6,088,895
XI-3 Revenue less expenses−$741,752
XI-4 Net assets at start of year$4,719,417
XI-5 Net unrealized gains (losses) on investments$25,985
XI-8 Prior period adjustments−$7,310
XI-10 Net assets at end of year$3,996,340

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

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