Overview
What is Beacon College Prep Inc?
Beacon College Prep Inc, located in Miami Beach, Florida, is a dedicated nonprofit organization serving elementary and middle school students. During the COVID-19 pandemic, the institution emerged as a crucial source of support, stability, and encouragement for its students and families, providing essential resources such as food, financial aid, and technology access. Despite the challenges posed by the pandemic, Beacon College Prep managed to successfully transition to distance learning, retain its staff, and operate both in-person and online classes. The school's mission is to help students excel academically, cultivate their talents, and foster admirable character traits, ultimately empowering them for future success in college. With a strong commitment to its community, Beacon College Prep maintains a waitlist of over 100 students for its elementary school and over 75 students for its middle school.
Official website here: www.beaconpride.org
What are the reviews and ratings of this charity?
Charity Navigator Rating: Needs Improvement
Beacon College Prep Inc has received a Two-Star out of Four Star rating from Charity Navigator, with an overall score of 65%. While the organization demonstrates strengths in having a fully independent board and effective financial oversight, it struggles with several key governance policies that are currently missing, which affects its overall accountability score. The absence of a conflict of interest policy, whistleblower policy, and document retention policy contributes to these governance concerns.
Financially, Beacon College Prep shows a strong program expense ratio of 82.44%, indicating that a significant portion of its funds is directed towards fulfilling its mission. However, the organization faces challenges with its liabilities-to-assets ratio at 107.96% and a negative working capital ratio, which suggests potential financial instability. Additionally, its fundraising efficiency ratio is notably low, which may hinder its ability to attract and maintain financial support.
Overall, while Beacon College Prep has positive attributes related to governance and program spending, the lack of essential policies and financial challenges highlight areas that need significant improvement for the organization to enhance its accountability and sustainability in the nonprofit sector.
This AI summary has been generated from information found on Charity Navigator.
Is Beacon College Prep Inc legitimate?
Beacon College Prep Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Beacon College Prep Inc 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: $88,215
Professional Fundraising Fees: $0
Other Salaries and Wages: $3,011,808
For more financial information, click here
Official website here: www.beaconpride.org
What is the mission statement of Beacon College Prep Inc?
Beacon College Prep Inc's mission is focused on empowering elementary and middle school students. It aims to help students achieve academic excellence, cultivate their talents and interests, and foster admirable character traits. This mission is designed to establish strong foundations that will support their success through college. During the COVID-19 pandemic, the school emerged as a critical source of support, encouragement, and stability for its students and families, providing essential resources and becoming a beacon of hope in a time of crisis. Despite the challenges posed by the pandemic, Beacon College Prep Inc successfully navigated the situation, maintaining a viable education for its students and serving as an inspiration for its community. For the upcoming school year, they plan to operate at full capacity with in-person attendance and maintain waitlists of over 100 students for the elementary school and over 75 students for the middle school.
Official website here: www.beaconpride.org
Who is the CEO of Beacon College Prep Inc?
Jeffrey Miller is the President of Beacon College Prep Inc.
Official website here: www.beaconpride.org
What is the revenue of Beacon College Prep Inc?
Beacon College Prep Inc's revenue in 2022 was $6,882,360.
Official website here: www.beaconpride.org
Who are the executives of Beacon College Prep Inc and what are their salaries?
The average compensation at Beacon College Prep Inc during 2022 was $59,616. There are 52 employees and 10 volunteers at Beacon College Prep Inc.
Here are 6 key members and their salaries:
- Compensation: $88,215
- Related: $0
- Other: $0
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- Other: $0
- Compensation: $0
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- Other: $0
- Compensation: $0
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- Other: $0
- Compensation: $0
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- Other: $0
- Compensation: $0
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- Other: $0
Official website here: www.beaconpride.org
Where can I find the form 990 for Beacon College Prep Inc?
Beacon College Prep Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.beaconpride.org
Learn more at the official website: www.beaconpride.org
Mission Statement of Beacon College Prep Inc
Beacon College Prep Inc, a nonprofit organization, is dedicated to the academic achievement and personal growth of elementary and middle school students. Their mission is to nurture students' talents and interests while instilling admirable character traits. This holistic approach aims to build strong foundations that empower students to succeed not only through college but also in their personal lives. During the COVID-19 pandemic, Beacon College Prep Inc emerged as a beacon of hope for its students and families, providing essential resources such as food, cash, and technology access. The school's commitment to supporting its community during this uncertain time was instrumental in helping students and families navigate the challenges of the pandemic. Despite the hardships faced by the community, Beacon College Prep Inc managed to maintain a high-quality education for its students and serve as a source of inspiration for the community. The organization expects to open at full capacity with in-person attendance in the coming school year and maintains a waitlist of over 100 students for its elementary school and over 75 students for its middle school.
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Impact
July, 2024
Beacon College Prep Inc has had a significant impact on its community by serving as a beacon of hope and support during the challenging times brought about by the COVID-19 pandemic. The school emerged as a critical source of stability, encouragement, and resources for its students, teachers, and families. Despite the pandemic forcing the suspension of in-person learning, the school successfully pivoted to a distance learning model and provided essential resources such as food, cash, and access to technology to families in need.
Moreover, Beacon College Prep Inc managed to retain all their staff with the help of the Paycheck Protection Program loan and opened the 2020-2021 school year with a hybrid model. This adaptive approach allowed approximately 50% of their students to attend in person while the other 50% participated through a newly developed distance learning program.
Despite facing challenges in a community hit hard by the pandemic, the school not only provided a viable education for its students but also became a source of inspiration. As a result, they maintained a waitlist of over 75 students and are planning to open at full capacity with in-person attendance in the upcoming school year. Through their mission to lead students to superior academic achievement, cultivate their talents, and foster admirable character traits, Beacon College Prep Inc is empowering the success of its students on the path to college and beyond.
This information is meant to be a general summary of Beacon College Prep Inc. 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.
- Investment Income: $835
- Gross Receipts: $6,882,360
Assets and Liabilities:
- Total Assets: $12,042,342
- Total Liabilities: $11,896,557
- Net Assets: $145,785
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Organization Details
Founding Year
2012
Principal Officer
Jeffrey Miller
Main Address
125 E SAN MARINO DRIVE, MIAMI BEACH, FL, 33139
Website
www.beaconpride.orgNTEE Category
Code: B42 - Education
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