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Crossover Preparatory Academy INC

Tax-deductible

Tulsa, OK501(c)(3)Since 2022Community DevelopmentEIN 61-1729358

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Restoring our community by developing educated, godly young men and women who love north tulsa

501(c)(3) charity; gifts are tax-deductible.
98¢ 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
FY2024
latest Form 990
Looks good: the latest return is for FY2024, 2 tax years back; within 2 tax years.
IRS e-file · Filing history
Spent on programs
98%
of spending
Looks good: 98% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Cash reserves
3 mo
of spending, in cash
Fine: 2.9 months of spending in cash; 1 to 3.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
2
named funders · $40K
Fine: 2 funders name it on their filings; under 3.
Funders’ Sch. I, 990-PF
Liabilities
$19.9M
82% of total assets
Concern: liabilities are 82% of assets; over 80%.
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
$7.2M
Spent
$4.4M
To programs
98%
Net assets
$4.5M

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

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Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2024. IRS ruling in Jun 2022.

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

Where the money goes

98 cents of each dollar spent went to programs.

Program services 98% · $4.3M Management & general 1% · $65K Fundraising 1% · $27K

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

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
$0Pt VII · Sec A
Kim Griffin
Treasurer
$0Pt VII · Sec A
Sam Rader
Secretary
$0Pt VII · Sec A
$0Pt VII · Sec A
Janet Hendricks
Vice Chair
$0Pt VII · Sec A
See Crossover Preparatory Academy INC 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

Develops educated, godly young people who love North Tulsa.

Provided by the organization

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1 program service account for $4.3M of program spending, described in the organization's own filed words · FY2023.
01

This is the total cost to operate the crossover prep academy all boys & all girls schools. Staff, occupancy, curriculum, activity cost are all included.

$4.3Mprogram 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 · FY2024
Natl Christian Charitable Fdn INCFY2024$35K
Margaret Vivian Bilby FoundationFY2024$5K
Total grants receivedfrom 2 funders$40K

By the numbers

The FY2024 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$7.2M
Ln 12
Gifts and grantsLn 1h$7.2M
Money outPt IX
$4.4M
Ln 25
Programscol B$4.3M
Managementcol C$65K
Fundraisingcol D$27K
Owns and owesPt X
$4.5M
net assets · Ln 32
Cash and savingsLn 1–2$1.1M
Total assetsLn 16$24.4M
LiabilitiesLn 26$19.9M
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$7.2M
Total revenueLn 12$7.2M
Assets in detailPt X, end of year
CashLn 1$1.1M
Cash and savings togetherLn 1–2$1.1M
Land, buildings, equipmentLn 10c$23.2M
Other assetsLn 15$98K
Total assetsLn 16$24.4M
LiabilitiesLn 26$19.9M
Net assetsLn 32$4.5M
OperationsPt I, VI
EmployeesI 568
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$8.1M$1.1M
Land, buildings, equipmentLn 10c$12.5M$23.2M
Total assetsLn 16$20.7M$24.4M
LiabilitiesLn 26$19.0M$19.9M
Net assetsLn 32$1.7M$4.5M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Other salaries and wagesLn 7$2.1M$2.1M
Payroll taxesLn 10$150K$150K
Other fees for servicesLn 11g$15K$15K$62
Advertising and promotionLn 12$35K$8K$27K
OccupancyLn 16$1.3M$1.3M
InsuranceLn 23$14K$14K
Other expenses (24a–d)Ln 24$579K$571K$8K
All other expensesLn 24e$210K$154K$57K
Total functional expensesLn 25$4.4M$4.3M$65K$27K

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 Latest Viewing $7.2M$4.4M$2.8M$4.5M 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 $7,219,377 across 3 lines filed
VIII-1a Federated campaigns$7,219,377
VIII-1h Total contributions, gifts and grants$7,219,377
VIII-12 Total revenueRelated to mission $0 · Unrelated business $0 · Excluded from tax $0$7,219,377
Part IX · Statement of functional expenses $4,414,773 across 8 lines filed
IX-7 Other salaries and wagesPrograms $2,072,888$2,072,888
IX-10 Payroll taxesPrograms $150,038$150,038
IX-11g Other fees for servicesPrograms $14,763 · Management $62$14,825
IX-12 Advertising and promotionPrograms $8,053 · Fundraising $27,369$35,422
IX-16 OccupancyPrograms $1,338,241$1,338,241
IX-23 InsurancePrograms $13,865$13,865
IX-24 Other expenses (24a–d)Programs $571,096 · Management $8,032$579,128
IX-24e All other expensesPrograms $153,626 · Management $56,740$210,366
IX-25 Total functional expensesPrograms $4,322,570 · Management $64,834 · Fundraising $27,369$4,414,773
Part X · Balance sheet $24,354,586 assets, 9 lines filed
X-1 Cash, non-interest-bearingStart of year $8,106,608$1,063,859
X-4 Accounts receivable$300
X-10c Land, buildings and equipment, netStart of year $12,480,039$23,192,480
X-15 Other assetsStart of year $95,950$97,947
X-16 Total assetsStart of year $20,682,597$24,354,586
X-17 Accounts payable and accrued expensesStart of year $13,478−$51,670
X-26 Total liabilitiesStart of year $19,014,827$19,882,209
X-32 Total net assets or fund balancesStart of year $1,667,770$4,472,377
X-33 Total liabilities and net assetsStart of year $20,682,597$24,354,586
Part XI · Reconciliation of net assets $4,472,377 net assets at year end
XI-1 Total revenue$7,219,377
XI-2 Total expenses$4,414,773
XI-3 Revenue less expenses$2,804,604
XI-4 Net assets at start of year$1,667,770
XI-8 Prior period adjustments$3
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$4,472,377

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

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