2024-09-26T12:26:38-04:00 2023-06-30 522212837 GREENE FINNEY CAULEY LLP 908 N MAIN ST ANDERSON SC 29621 990 2022-07-01 825507704 BELTON PREPARATORY ACADEMY INC BELT 8643921173 200 KNIGHTS COURT BELTON SC 29627 RACHEL SIBILIO TREASURER 8643140035 2024-09-25 true false CHRISTOPHER S CAULEY P00534004 8642258713 2024-09-25 2022 2024-08-08 14:25:15Z X ANGIE KING 200 KNIGHTS COURT BELTON SC 29627 2659386 false X HTTPS://BELTONPREP.US X 2017 SC BELTON PREPARATORY ACADEMY IS A TUITION-FREE CLASSICAL EDUCATION CHARTER SCHOOL WHOSE MISSION IS TO PREPARE ITS STUDENTS TO COMPETE WITH INTEGRITY AT THE HIGHEST LEVELS OF ACADEMICS. 7 7 17 0 1960167 2639988 21147 19398 0 0 1981314 2659386 0 0 875556 1345977 0 0 1056040 1224484 1931596 2570461 49718 88925 1217735 1094586 963886 751812 253849 342774 THE MISSION OF BELTON PREPARATORY ACADEMY IS TO PREPARE ITS STUDENTS TO COMPETE WITH INTEGRITY AT THE HIGHEST LEVELS OF ACADEMICS. false false 1726634 19398 BELTON PREPARATORY ACADEMY IS AN AWARD-WINNING TUITION-FREE CHARTER SCHOOL SERVING K5-7 GRADE STUDENTS IN THE BELTON, SC AREA. WE OFFER AN ACADEMICALLY RIGOROUS CLASSICAL EDUCATION CURRICULUM AND CHARACTER BUILDING ACTIVITIES THAT INSPIRE ALL LEARNERS. STUDENTS ARE SUPPORTED BY A CLOSE- KNIT COMMUNITY OF CARING TEACHERS AND STAFF AND ENGAGED FAMILIES. THE ACADEMY SERVED APPROXIMATELY 242 STUDENTS DURING FY23. 1726634 true false false false false false false false false false true false false true true false true true true false false false false false false false false false false false false false false true false false false true false false false false false false false false false true 0 0 17 true false false false false false false false false false false false false X 7 7 false true false false false false false true false false false true true true true false false false false false SC X REASON AND REPUBLIC LLC 8649774988 1650 E GREENVILLE STREET STE H ANDERSON SC 29621 X ANGIE KING CHAIR 1.50 X X 0 0 0 CANDACE WHITFIELD VICE CHAIR 1.50 X X 0 0 0 RACHEL SIBILIO TREASURER 1.50 X X 0 0 0 AMANDA MOSS SECRETARY 1.50 X X 0 0 0 RYAN BUTLER DIRECTOR 1.50 X 0 0 0 BLAKE COOPER DIRECTOR 1.50 X 0 0 0 ZACH MACINNIS DIRECTOR 1.50 X 0 0 0 false false false 2639988 2639988 STUDENT ACTIVITIES AND FEES 611710 19398 19398 19398 2659386 19398 X 1103876 893281 210595 242101 234056 8045 367075 367075 6000 6000 430493 202173 228320 20303 20303 45131 45131 41999 41999 123 123 179684 179684 SUPPLIES AND MATERIALS 108540 108540 25136 21647 3489 2570461 1726634 843827 0 117445 257585 17470 849224 254221 637408 595003 445412 241998 1217735 1094586 214730 221479 9971 5123 507769 407770 231416 117440 963886 751812 X 253849 342774 253849 342774 1217735 1094586 X 88925 X false true X true false X 749674 187976 561698 99550 66245 33305 595003 RIGHT OF USE ASSET - BUILDING, NET 113279 DUE FROM OTHER AGENCIES 109552 DEPOSIT RECEIVABLE AND OTHER ASSETS 19167 241998 RIGHT OF USE LIABILITY 117440 117440 2612426 2612426 46960 46960 2659386 2523501 2523501 46960 46960 2570461 SCHEDULE D, PAGE 4, PART XI, LINE 4B DISTRICT FEE NET OF REVENUE 46,960 SCHEDULE D, PAGE 4, PART XII, LINE 4B DISTRICT FEE NET OF REVENUE 46,960 true true true true true true true false false false false false false false false true false true SCHEDULE E, LINE 3 THE SCHOOL'S RACIALLY NONDISCRIMINATORY POLICY IS LISTED ON ALL PRINTED REGISTRATION FORMS, AS WELL AS, ITS SCHOOL HOMEPAGE. SCHEDULE E, LINE 6 THE SCHOOL RECEIVES A SIGNIFICANT PORTION OF ITS SUPPORT FROM GOVERNMENTAL UNITS PRIMARILY FROM THE STATE OF SC THROUGH PASSTHROUGH FUNDING FROM THE CHARTER INSTITUTE AT ERSKINE. NP REASON REPUBLIC LLC 35% CONTROLLED LEASEHOLD IMPROVEMENTS X 541349 407770 false true true 407770 REASON AND REPUBLIC LLC SEE BELOW 367075 MANAGEMENT FEE true SCHEDULE L, PART V A FORMER DIRECTOR OF BELTON PREPARATORY ACADEMY, JAMES GALYEAN, HAS MORE THAN 35% OWNERSHIP INDIRECTLY OF REASON AND REPUBLIC LLC. THE ACADEMY ALSO HAS A NOTE PAYABLE TO REASON AND REPUBLIC LLC. THIS LOAN IS AT MARKET RATE AND WAS APPROVED BY THE BOARD OF DIRECTORS. FORM 990 BELTON PREPARATORY ACADEMY UTILIZED A MANAGEMENT COMPANY TO MANAGE SCHOOL OPERATIONS FOR FY23. THE MANAGEMENT COMPANY HELD A SIGNIFICANT AMOUNT OF THE FINANCIAL RECORDS OF THE SCHOOL. AT THE TIME OF FILING, THE MANAGEMENT COMPANY HAS NOT PROVIDED THE SCHOOL WITH ALL OF ITS BOOKS AND RECORDS. FOR THIS REASON, THERE ARE ITEMS REQUESTED ON FORM 990 THAT COULD NOT BE PROVIDED DUE TO LACK OF AVAILABLE RECORDS INCLUDING THE NUMBER OF 1099S FILED FOR THE CALENDAR YEAR AND CALENDAR YEAR COMPENSATION TO THE MANAGEMENT COMPANY (ALTHOUGH THE FISCAL YEAR AMOUNT IS DISCLOSED IN PART IX ON THE STATEMENT OF FUNCTIONAL EXPENSES). THE LEVEL OF DETAIL REPORTED IN PART IX WAS ALSO LIMITED AS THE SCHOOL DID NOT HAVE ACCESS TO MORE DETAILED RECORDS SO IT RELIED ON THE MORE SUMMARIZED REPORTING AVAILABLE IN THE AUDITED FINANCIAL STATEMENTS. THE RETURN IS BEING FILED WITH THE MOST ACCURATE INFORMATION AVAILABLE AT THE TIME OF FILING. FORM 990, PAGE 6, PART VI, LINE 3 FOR FY23, THE SCHOOL'S MANAGEMENT FUNCTION WAS OUTSOURCED TO REASON AND REPUBLIC LLC, AN EDUCATION MANAGEMENT ORGANIZATION. REASON AND REPUBLIC LLC WAS CONTRACTED TO PROVIDE OPERATIONS, MARKETING, HUMAN RESOURCES, FINANCE, AND TECHNOLOGY SUPPORT. THE PRINCIPAL OF BELTON PREPARATORY ACADEMY, DEIRDRE MCCULLOUGH, IS CONSIDERED AN EMPLOYEE OF REASON AND REPUBLIC LLC AND HAD REPORTABLE COMPENSATION DURING THE YEAR OF 110,000. FORM 990, PAGE 6, PART VI, LINE 8B THE ACADEMY HAD NO COMMITTEES WITH AUTHORITY TO ACT ON BEHALF OF THE GOVERNING BODY. FORM 990, PAGE 6, PART VI, LINE 11B THE FORM 990 WILL BE REVIEWED BY THE BOARD PRIOR TO FILING. FORM 990, PAGE 6, PART VI, LINE 12C BOARD MEMBERS ATTEND TRAINING PROVIDED BY THE SOUTH CAROLINA DEPARTMENT OF EDUCATION TO MAKE THEM AWARE OF THE RULES THEY MUST ADHERE TO. FORM 990, PAGE 6, PART VI, LINE 19 THE ORGANIZATION MAKES ITS GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC UPON REQUEST. FORM 990, PART IX, LINE 11G DISTRICT FEE 0 46,960 0 CONTRACT SERVICES 202,173 181,360 0 TOTAL 202,173 228,320 0 FORM 990, PART XI, LINE 9 DISTRICT FEE NET OF REVENUE -46,960 DISTRICT FEE NET OF REVENUE 46,960