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Folsom Prep Academy FY2023 filing

Tax-deductible

Folsom, CA501(c)(3)EducationEIN 84-2257483Revenue $2.2M in FY2023

On file with the IRSfolsomprep.com650 Willard Dr, 95630-9543 · Folsom, CATax-exempt since Jul 2020School — 170(b)(1)(A)(ii)

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Folsom Prep Academy is renowned for providing academic excellence in K-5 grade levels while also developing necessary leadership and life skills in our students. Using an enriched and diverse curriculum, our teachers place personalized attention on every child, instill in them critical skills to excel to their full potential, and develop them to become compassionate, confident, and creative student leaders for the 21st century.

501(c)(3) charity; gifts are tax-deductible.
95¢ of each $1 spent went to programs.
$156K 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

FY2023 · 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 3
filings with a surplus
Average surplus $101K a year · 5% of revenue · last 3 filings
Fine: a surplus in 2 of the last 3 filings.
Pt I · Ln 19 · 3 filings
Spent on programs
95%
of spending
Looks good: 95% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Pay to officers and key staff
$156K
to officers and key staff · 8% of spending
Looks good: pay to officers and key staff is 8% of spending; 15% or less.
Pt VII · Sec A
Cash reserves
4 mo
of spending, in cash
Looks good: 3.7 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
1
named funder · $11K
Fine: 1 funder names it on their filings; under 3.
Funders’ Sch. I, 990-PF
Liabilities
$11K
2% of total assets
Looks good: liabilities are 2% 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
$2.2M
Spent
$2.0M
To programs
95%
Net assets
$643K
By yearFY2023–FY2025
Revenue
$2.2M
FY2023
Tap a bar for its year
Revenue by fiscal year
FY2023$2.2M
FY2024$2.2M
FY2025$2.2M
Expenses
$2.0M
FY2023
Tap a bar for its year
Expenses by fiscal year
FY2023$2.0M
FY2024$2.1M
FY2025$2.2M
Net assets
$643K
FY2023
Tap a bar for its year
Net assets by fiscal year
FY2023$643K
FY2024$775K
FY2025$755K

From the FY2023 Form 990 (year ending June 2023) · figures checked against the IRS filing · see the original

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You’re viewing the FY2023 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 Jul 2020.

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

Where the money goes

95 cents of each dollar spent went to programs.

Program services 95% · $1.9M Management & general 4% · $71K Fundraising 1% · $22K

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

8 people listed on the 990; $156K paid to officers and key staff.

Part VII, Section A · reportable compensation · most recent filed roster (FY2022); the FY2023 filing did not itemize Part VII
$92,597Pt VII · Sec A
$63,302Pt VII · Sec A
$0Pt VII · Sec A
Jason Ramos
Treasurer
$0Pt VII · Sec A
Andrew Smith
Director
$0Pt VII · Sec A
Karen Mayer
Director
$0Pt VII · Sec A
Gowan Joslin
President
$0Pt VII · Sec A
$0Pt VII · Sec A

Candis Murawski’s $93K as Director is at the 26th 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.

See Folsom Prep Academy 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 2Yes
  • Top official's pay set by an independent reviewPt VI · Ln 15aYes

Programs and updates

Develops K-5 students academically and in leadership skills through personalized attention and an enriched curriculum.

Questions for Folsom Prep Academy

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Provided by the organization

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1 program · $1.9M · in their own filed words · FY2022
01

Folsom Prep Academy is a non-profit private school serving students in Folsom, California and its surrounding areas. The school is open to all students entering grades kindergarten through fifth utilizing standards-based curricula.

$1.9Mprogram 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 · FY2020
American Online Giving Foundation INCFY2020$11K
Total grants receivedfrom 1 funder$11K

By the numbers

The FY2023 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$2.2M
Ln 12
Fees for servicesLn 2g$2.1M
Gifts and grantsLn 1h$28K
Money outPt IX
$2.0M
Ln 25
Programscol B$1.9M
Managementcol C$71K
Fundraisingcol D$22K
Owns and owesPt X
$643K
net assets · Ln 32
Cash and savingsLn 1–2$601K
Total assetsLn 16$654K
LiabilitiesLn 26$11K
PeoplePt VI, VII
8
listed · VII A
PaidVII A2
Voting boardVI 1a5
IndependentVI 1b5
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$28K
Fees for servicesLn 2g$2.1M
Gains on assetsLn 7$0
Total revenueLn 12$2.2M
Assets in detailPt X, end of year
CashLn 1$601K
SavingsLn 2$0
Cash and savings togetherLn 1–2$601K
InvestmentsLn 11–13$0
Land, buildings, equipmentLn 10c$29K
Other assetsLn 15$23K
Total assetsLn 16$654K
LiabilitiesLn 26$11K
Net assetsLn 32$643K
OperationsPt I, VI
EmployeesI 534
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 FY23End FY23
Cash and savingsLn 1–2$412K$601K
InvestmentsLn 11–13$0
Land, buildings, equipmentLn 10c$38K$29K
Total assetsLn 16$477K$654K
LiabilitiesLn 26$26K$11K
Net assetsLn 32$451K$643K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Grants to domestic organizationsLn 1$0
Grants to domestic individualsLn 2$0
Grants and assistance to foreign recipientsLn 3$0
Benefits paid to or for membersLn 4$0
Pay of current officers, directors and key staffLn 5$156K$156K
Pay of disqualified personsLn 6$0
Other salaries and wagesLn 7$875K$875K
Pension plan contributionsLn 8$0
Other employee benefitsLn 9$37K$37K
Payroll taxesLn 10$87K$87K
Management feesLn 11a$0
Legal feesLn 11b$0
Accounting feesLn 11c$0
Lobbying feesLn 11d$0
Professional fundraising feesLn 11e$0
Investment management feesLn 11f$0
Other fees for servicesLn 11g$14K$11K$4K
Advertising and promotionLn 12$28K$28K
Office expensesLn 13$0
Information technologyLn 14$13K$13K
RoyaltiesLn 15$0
OccupancyLn 16$379K$341K$38K
TravelLn 17$0
Travel and entertainment for public officialsLn 18$0
Conferences, conventions and meetingsLn 19$0
InterestLn 20$0
Payments to affiliatesLn 21$0
Depreciation, depletion and amortizationLn 22$10K$10K
InsuranceLn 23$34K$34K
Other expenses (24a–d)Ln 24$215K$194K$22K
All other expensesLn 24e$113K$84K$29K
Total functional expensesLn 25$2.0M$1.9M$71K$22K

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2025 Latest $2.2M$2.2M−$20K$755K 990 PDF
FY2024 $2.2M$2.1M$132K$775K 990 PDF
FY2023 Viewing $2.2M$2.0M$192K$643K 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 FY2023 990 (6 parts)
Part I · Summary $2,154,365 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $25,643$28,252
I-9 Program service revenuePrior year $2,073,327$2,126,113
I-10 Investment income$0
I-11 Other revenue$0
I-12 Total revenuePrior year $2,098,970$2,154,365
I-13 Grants and similar amounts paid$0
I-14 Benefits paid to members$0
I-15 Salaries and benefitsPrior year $892,962$1,154,833
I-16a Professional fundraising fees$0
I-17 Other expensesPrior year $797,713$807,212
I-18 Total expensesPrior year $1,690,675$1,962,045
I-19 Revenue less expensesPrior year $408,295$192,320
Part VI · Governance 5 of 5 board members independent, 1 to look at
VI-1a Voting members of the governing body5
VI-1b Independent voting members5
VI-2 Family or business relationship among officers or directorsYes
VI-12a Written conflict of interest policyYes
VI-13 Written whistleblower policyYes
VI-14 Document retention and destruction policyYes
VI-15a Process for setting top official's payYes
Part VIII · Statement of revenue $2,154,365 across 9 lines filed
VIII-1f All other contributions, gifts and grants$28,252
VIII-1h Total contributions, gifts and grants$28,252
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $2,126,113$2,126,113
VIII-3 Investment income$0
VIII-5 Royalties$0
VIII-6 Net rental income or loss$0
VIII-7 Net gain or loss on sales of assets$0
VIII-8 Net income from fundraising events$0
VIII-12 Total revenueRelated to mission $2,126,113$2,154,365
Part IX · Statement of functional expenses $1,962,045 across 31 lines filed
IX-1 Grants to domestic organizations$0
IX-2 Grants to domestic individuals$0
IX-3 Grants and assistance to foreign recipients$0
IX-4 Benefits paid to or for members$0
IX-5 Pay of current officers, directors and key staffPrograms $155,899$155,899
IX-6 Pay of disqualified persons$0
IX-7 Other salaries and wagesPrograms $874,730$874,730
IX-8 Pension plan contributions$0
IX-9 Other employee benefitsPrograms $37,176$37,176
IX-10 Payroll taxesPrograms $87,028$87,028
IX-11a Management fees$0
IX-11b Legal fees$0
IX-11c Accounting fees$0
IX-11d Lobbying fees$0
IX-11e Professional fundraising fees$0
IX-11f Investment management fees$0
IX-11g Other fees for servicesPrograms $10,866 · Management $3,622$14,488
IX-12 Advertising and promotionPrograms $27,622$27,622
IX-13 Office expenses$0
IX-14 Information technologyPrograms $13,489$13,489
IX-15 Royalties$0
IX-16 OccupancyPrograms $341,366 · Management $37,930$379,296
IX-17 Travel$0
IX-18 Travel and entertainment for public officials$0
IX-19 Conferences, conventions and meetings$0
IX-20 Interest$0
IX-21 Payments to affiliates$0
IX-22 Depreciation, depletion and amortizationPrograms $9,923$9,923
IX-23 InsurancePrograms $34,104$34,104
IX-24 Other expenses (24a–d)Programs $193,898 · Fundraising $21,509$215,407
IX-24e All other expensesPrograms $83,838 · Management $29,045$112,883
IX-25 Total functional expensesPrograms $1,869,939 · Management $70,597 · Fundraising $21,509$1,962,045
Part X · Balance sheet $654,351 assets, 18 lines filed
X-1 Cash, non-interest-bearingStart of year $412,141$601,065
X-2 Savings and temporary cash investments$0
X-3 Pledges and grants receivable$0
X-4 Accounts receivableStart of year $1,745$0
X-8 Inventories for sale or use$0
X-9 Prepaid expenses and deferred charges$0
X-10c Land, buildings and equipment, netStart of year $38,232$28,783
X-11 Publicly traded securities$0
X-12 Other securities$0
X-13 Program-related investments$0
X-14 Intangible assetsStart of year $1,977$1,503
X-15 Other assetsStart of year $23,000$23,000
X-16 Total assetsStart of year $477,095$654,351
X-17 Accounts payable and accrued expensesStart of year $26,175$11,111
X-26 Total liabilitiesStart of year $26,175$11,111
X-27 Net assets without donor restrictionsStart of year $450,920$643,240
X-32 Total net assets or fund balancesStart of year $450,920$643,240
X-33 Total liabilities and net assetsStart of year $477,095$654,351
Part XI · Reconciliation of net assets $643,240 net assets at year end
XI-1 Total revenue$2,154,365
XI-2 Total expenses$1,962,045
XI-3 Revenue less expenses$192,320
XI-4 Net assets at start of year$450,920
XI-10 Net assets at end of year$643,240

Form 990 e-file (XML) FY2023 from the IRS · Classification, formation year and address from the IRS Business Master File

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