Overview
What is Lake Erie Preparatory School?
Lake Erie Preparatory School is a nonprofit institution situated in Cleveland, Ohio, specifically at 14405 St Clair Avenue, 44102. The school's primary objective is to cultivate an environment that fosters high academic and behavioral expectations. This is achieved through the implementation of a rigorous, research-based curriculum. The ultimate goal is for students to successfully graduate from an eighth grade, transition to a college-preparatory high school, and subsequently complete a four-year college degree. The school expects all graduates to engage in positive community change and contribute to our global society.
What are the reviews and ratings of this charity?
Charity Navigator Rating: 62% (Two-Star out of Four Star rating)
Lake Erie Preparatory School has received a Two-Star rating from Charity Navigator, indicating a moderate level of accountability and financial health. The overall score is particularly influenced by its accountability and finance metrics, with the organization demonstrating strength in areas such as having a majority independent board, solid audit practices, and established conflict of interest and whistleblower policies.
Despite these strengths, the organization's financial ratios raise some concerns. The liabilities to assets ratio is significantly high at 152.36%, and the working capital ratio is reported at -0.89 years, which suggests potential liquidity issues. Additionally, the fundraising efficiency ratio indicates a very low return on funds raised.
The school does excel in program expenses, as 100% of its expenditures are directed towards its programs. However, the low fundraising efficiency points to challenges in generating revenue effectively. Overall, while Lake Erie Preparatory School shows good governance practices, it faces notable financial hurdles that could impact its long-term sustainability.
This AI summary has been generated from information found on Charity Navigator.
Is Lake Erie Preparatory School legitimate?
Lake Erie Preparatory School is a legitimate nonprofit organization registered as a 501(c)(3) entity. Lake Erie Preparatory School submitted a form 990, which is a tax form used by tax-exempt organizations in the U.S., indicating its operational transparency and adherence to regulatory requirements. Donations to this organization are tax deductible.
Heare are some key statistics you may want to consider:
Executive Compensation: $0
Professional Fundraising Fees: $0
Other Salaries and Wages: $1,205,326
For more financial information, click here
What is the mission statement of Lake Erie Preparatory School?
Lake Erie Preparatory School's mission is centered around preparing its students for a college-preparatory high school. This aim is designed to ensure the students' success in graduating from a four-year college. The school cultivates a culture of high expectations, both academically and behaviorally, through its rigorous curriculum and a strong emphasis on achievement. The ultimate goal is for students to graduate from the eighth grade, transition to a college preparatory high school, and eventually graduate from a four-year college. It is anticipated that 100% of graduates will make a positive impact in their local communities and contribute to global society.
Who is the CEO of Lake Erie Preparatory School?
C David Massa is the Board Member of Lake Erie Preparatory School.
What is the revenue of Lake Erie Preparatory School?
Lake Erie Preparatory School's revenue in 2022 was $4,164,833.
Who are the executives of Lake Erie Preparatory School and what are their salaries?
Here are 5 key members and their salaries:
- Compensation: $1,000
- Related: $0
- Other: $0
- Compensation: $1,000
- Related: $0
- Other: $0
- Compensation: $1,000
- Related: $0
- Other: $0
- Compensation: $600
- Related: $0
- Other: $0
- Compensation: $600
- Related: $0
- Other: $0
Where can I find the form 990 for Lake Erie Preparatory School?
Lake Erie Preparatory School's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Lake Erie Preparatory School
Lake Erie Preparatory School is committed to its mission of preparing students for a challenging college preparatory high school. This mission is designed to ensure that every student graduates from a four-year college, setting them up for success in their future endeavors. The school's vision is to foster an environment of high academic and behavioral expectations. This is achieved through the implementation of a rigorous, research-based curriculum and a strong focus on achievement.
The ultimate goal of Lake Erie Preparatory School is to see its graduates move on to a college preparatory high school, eventually earning a degree from a four-year institution. The school aspires to have 100% of its graduates make a positive impact in their local communities and contribute to society at large. By instilling a strong sense of responsibility and academic excellence in its students, Lake Erie Preparatory School aims to equip them with the tools they need to succeed in any setting, ultimately contributing to a brighter future for all.
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Impact
July, 2024
Lake Erie Preparatory School's impact is focused on preparing students for a college preparatory high school that guarantees success and graduation from a four-year college. The school's vision centers around creating a culture of high expectations for behavior and academics through a rigorous, research-based curriculum that emphasizes achievement. Their goal is to see their students graduate from the eighth grade, attend a college preparatory high school, and ultimately gain acceptance to and graduate from a four-year college. Lake Erie Preparatory School expects that 100% of its graduates will positively impact their local communities and contribute to our global society.
This information is meant to be a general summary of Lake Erie Preparatory School. Please take the time to review official sources before making any decisions based upon the content provided here.
Financials
This financial information is from Propublica.
Other financial information:
This information is from the most recently submitted tax form from this organization, which was in 2022.
- Gross Receipts: $4,164,833
Assets and Liabilities:
- Total Assets: $6,079,832
- Total Liabilities: $9,211,563
- Net Assets: -$3,131,731
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Organization Details
Founding Year
2012
Phone
(330) 515-0572Principal Officer
C David Massa
Main Address
14405 St Clair Avenue, Cleveland, OH, 44102
NTEE Category
Code: B29 - Education
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