Southeastern Preparatory Academy INC

Tax-deductible

Winter Park, FL501(c)(3)EducationEIN 88-3233467Revenue $1.5M in FY2024

On file with the IRS4304 Metric Dr Ste 3, 32792-6822 · Winter Park, FLTax-exempt since Jan 2023Publicly supported — 509(a)(2)

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Our mission is proving a unique learning environment that engages students and prepares them for the future through rigorous academics and athletic programs. Through a partnership with parents and families, our staff members are fully committed to students' college and career readiness. Students are empowered to meet current and future challenges by developing social awareness, civic responsibility, and personal growth. -

501(c)(3) charity; gifts are tax-deductible.
100¢ 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
Surplus or deficit
3 of 3
filings with a surplus
Average surplus $63K a year · 8% of revenue · last 3 filings
Looks good: a surplus in 3 of the last 3 filings.
Pt I · Ln 19 · 3 filings
Spent on programs
100%
of spending
Looks good: 100% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Cash reserves
<1 mo
of spending, in cash
Concern: -0.0 months of spending in cash; under 2 weeks.
Pt X · Ln 1–2 · Pt I · Ln 18
Liabilities
$90K
41% of total assets
Looks good: liabilities are 41% of assets; 50% or less.
Pt X · Ln 26
Independent board members
0
of 2 voting members
Concern: none of 2 voting members are independent.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$1.5M
+124% vs prior year
Spent
$1.5M
To programs
100%
Net assets
$132K
By yearFY2022–FY2024
Revenue
$1.5M
FY2024▲ +124%
Tap a bar for its year
Revenue by fiscal year
FY2022$114K
FY2023$668K
FY2024$1.5M
Expenses
$1.5M
FY2024▲ +165%
Tap a bar for its year
Expenses by fiscal year
FY2022$79K
FY2023$549K
FY2024$1.5M
Net assets
$132K
FY2024▲ +12%
Tap a bar for its year
Net assets by fiscal year
FY2022$34K
FY2023$118K
FY2024$132K

From the FY2024 Form 990 · figures checked against the IRS filing · see the original

Form 990 (PDF) Claim

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2024. IRS ruling in Jan 2023.

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

Where the money goes

100 cents of each dollar spent went to programs.

Program services 100% · $1.5M

Form 990 Part IX, line 25. Every line is in By the numbers.

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Who runs it and what they're paid

2 people listed on the 990.

Part VII, Section A · reportable compensation
$0Pt VII · Sec A
President
$0Pt VII · Sec A

Dominique Booker’s $7K as President is at the 2nd 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 Southeastern 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 15aNo
  • Loans to or from officersSch L · Pt II1 listed

Programs and updates

Engages students with academics and athletics, preparing them for college and careers.

Provided by the organization

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2 programs · $1.5M · in their own filed words · FY2024
01

We offer educational services to student athletes in a small class environment

$1.5Mprogram expense
02

We established a program for students to learn about mental health, including self-identification. We have expanded offerings for new year to include services for elementary and post-grad students.

Pt IX · col B

By the numbers

The FY2024 990, line by line.

1The main four
Money inPt VIII
$1.5M
Ln 12
Other incomeLn 4–11$1.5M
Money outPt IX
$1.5M
Ln 25
Programscol B$1.5M
Owns and owesPt X
$132K
net assets · Ln 32
Cash and savingsLn 1–2−$476
Total assetsLn 16$223K
LiabilitiesLn 26$90K
PeoplePt VI, VII
2
listed · VII A
PaidVII A0
Voting boardVI 1a2
IndependentVI 1b0
2In more detail
Revenue in detailPt VIII
Other incomeLn 4–11$1.5M
Total revenueLn 12$1.5M
Assets in detailPt X, end of year
CashLn 1−$476
Cash and savings togetherLn 1–2−$476
Land, buildings, equipmentLn 10c$179K
Other assetsLn 15$44K
Total assetsLn 16$223K
LiabilitiesLn 26$90K
Net assetsLn 32$132K
OperationsPt I, VI
EmployeesI 50
VolunteersI 60
Fiscal year endsHeaderDecember
Conflict-of-interest policyVI 12aNo
Whistleblower policyVI 13No
Records policyVI 14No
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY24End FY24
Cash and savingsLn 1–2$35K−$476
Land, buildings, equipmentLn 10c$105K$179K
Total assetsLn 16$184K$223K
LiabilitiesLn 26$66K$90K
Net assetsLn 32$118K$132K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Benefits paid to or for membersLn 4$71K$71K
Other salaries and wagesLn 7$208K$208K
Payroll taxesLn 10$15K$15K
Legal feesLn 11b$3K$3K
Accounting feesLn 11c$15K$15K
Advertising and promotionLn 12$15K$15K
Office expensesLn 13$5K$5K
Information technologyLn 14$4K$4K
OccupancyLn 16$659K$659K
TravelLn 17$28K$28K
InterestLn 20$22K$22K
Depreciation, depletion and amortizationLn 22$6K$6K
InsuranceLn 23$16K$16K
Other expenses (24a–d)Ln 24$310K$310K
All other expensesLn 24e$80K$80K
Total functional expensesLn 25$1.5M$1.5M$0$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 Latest Viewing $1.5M$1.5M$37K$132K 990 PDF
FY2023 $668K$549K$118K$118K 990 PDF
FY2022 $114K$79K$34K$34K 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 $1,492,608 revenue, 12 lines filed
I-8 Contributions and grants$0
I-9 Program service revenue$0
I-10 Investment income$0
I-11 Other revenue$1,492,608
I-12 Total revenue$1,492,608
I-13 Grants and similar amounts paid$0
I-14 Benefits paid to members$71,223
I-15 Salaries and benefits$222,650
I-16a Professional fundraising fees$0
I-17 Other expenses$1,161,818
I-18 Total expenses$1,455,691
I-19 Revenue less expenses$36,917
Part VI · Governance 0 of 2 board members independent, 4 to look at
VI-1a Voting members of the governing body2
VI-1b Independent voting members0
VI-12a Written conflict of interest policyNo
VI-13 Written whistleblower policyNo
VI-14 Document retention and destruction policyNo
VI-15a Process for setting top official's payNo
VI-2 Family or business relationship among officers or directorsNo
Part VIII · Statement of revenue $1,492,608 across 2 lines filed
Lines not itemized here account for $1,492,608 of total revenue; see the IRS return.
VIII-8 Net income from fundraising events$0
VIII-12 Total revenueRelated to mission $1,492,608 · Unrelated business $0 · Excluded from tax $0$1,492,608
Part IX · Statement of functional expenses $1,455,691 across 15 lines filed
IX-4 Benefits paid to or for membersPrograms $71,223$71,223
IX-7 Other salaries and wagesPrograms $207,687$207,687
IX-10 Payroll taxesPrograms $14,963$14,963
IX-11b Legal feesPrograms $2,575$2,575
IX-11c Accounting feesPrograms $14,866$14,866
IX-12 Advertising and promotionPrograms $14,647$14,647
IX-13 Office expensesPrograms $5,179$5,179
IX-14 Information technologyPrograms $4,366$4,366
IX-16 OccupancyPrograms $659,024$659,024
IX-17 TravelPrograms $27,610$27,610
IX-20 InterestPrograms $22,028$22,028
IX-22 Depreciation, depletion and amortizationPrograms $6,443$6,443
IX-23 InsurancePrograms $15,882$15,882
IX-24 Other expenses (24a–d)Programs $309,537$309,537
IX-24e All other expensesPrograms $79,661$79,661
IX-25 Total functional expensesPrograms $1,455,691 · Management $0 · Fundraising $0$1,455,691
Part X · Balance sheet $222,603 assets, 8 lines filed
X-1 Cash, non-interest-bearingStart of year $35,441−$476
X-10c Land, buildings and equipment, netStart of year $104,745$178,944
X-15 Other assetsStart of year $44,135$44,135
X-16 Total assetsStart of year $184,321$222,603
X-25 Other liabilitiesStart of year $34,206$58,737
X-26 Total liabilitiesStart of year $65,890$90,421
X-32 Total net assets or fund balancesStart of year $118,431$132,182
X-33 Total liabilities and net assetsStart of year $184,321$222,603
Part XI · Reconciliation of net assets $132,182 net assets at year end
XI-1 Total revenue$1,492,608
XI-2 Total expenses$1,455,691
XI-3 Revenue less expenses$36,917
XI-4 Net assets at start of year$118,431
XI-8 Prior period adjustments−$23,166
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$132,182

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

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