SHORECREST PREPARATORY SCHOOL INC

EIN: 237412158 501(c)(3) Education

ST PETERSBURG, FL

Total Revenue
$37,327,170
Total Expenses
$33,370,563
Total Assets
$94,739,109
Net Assets
$54,215,212
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Financial Trends

Organization Details

Formation Year
1923
Legal Domicile
FL
Principal Officer
NANCY SPENCER
Phone
7275222111
Tax Period
2023-07-01 to 2024-06-30

SHORECREST PREPARATORY SCHOOL INC, founded in 1923, is a mid-sized nonprofit in the Education sector that reported $37.3M in total revenue in fiscal year 2023. Revenue grew 9% year-over-year, indicating healthy expansion. Expenses of $33.4M left a modest 11% surplus.

Mission

A COLLEGE PREPARATORY SCHOOL THAT EDUCATES A DIVERSE COMMUNITY OF STUDENTS TO BECOME LIFELONG LEARNERS IN THE PURSUIT OF PERSONAL AND ACADEMIC EXCELLENCE, PHYSICAL WELL-BEING, CREATIVE ACHIEVEMENT AND THE DEVELOPMENT OF A COMMITMENT TO SOCIAL RESPONSIBILITY.

Program Service Accomplishments

Program 1
Expenses: $28,734,987 Revenue: $33,193,401

SHORECREST PREPARATORY SCHOOL EDUCATED A COMMUNITY OF 1,039 STUDENTS FROM 3-YEARS-OLD THROUGH 12TH GRADE THROUGHOUT THE 2023-2024 SCHOOL YEAR. 68 STUDENTS GRADUATED FROM SHORECREST IN 2024, 100% OF...

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SHORECREST PREPARATORY SCHOOL EDUCATED A COMMUNITY OF 1,039 STUDENTS FROM 3-YEARS-OLD THROUGH 12TH GRADE THROUGHOUT THE 2023-2024 SCHOOL YEAR. 68 STUDENTS GRADUATED FROM SHORECREST IN 2024, 100% OF WHOM WERE ACCEPTED TO COLLEGES AND UNIVERSITIES OF THEIR CHOICE. THE GRADUATING CLASS OF 2024 COLLECTIVELY CONTRIBUTED 7,500 HOURS OF SERVICE TO THE GREATER COMMUNITY THROUGHOUT THEIR TIME AT SHORECREST.FALL 2023 MARKED THE FINAL STRETCH OF CENTENNIAL CELEBRATIONS WHICH INCLUDED THE SHORECREST GALA. THE EVENT CELEBRATED THE SCHOOL'S CENTENNIAL AND RAISED FUNDS TO ESTABLISH THE TEACHERS FUND, DESIGNED TO PROVIDE GRANTS TO CLASSROOM TEACHERS FOR PROFESSIONAL DEVELOPMENT AND SPECIAL PROJECTS (CONTINUED ON SCHEDULE O) IN SUPPORT OF THE STRATEGIC INITIATIVE OF ACADEMIC EXCELLENCE. AS SHORECREST EMBARKED ON ITS SECOND CENTURY, SCHOOL LEADERSHIP FOCUSED ON INTEGRATING THE RECENTLY LAUNCHED ROSS ROEDER INSTITUTE- A SCHOOLWIDE PROGRAM FOR FINANCIAL LITERACY, ECONOMICS AND ENTREPRENEURSHIP - INTO THE CURRICULUM AND COMMENCED THE EXPANSION OF THE CENTER FOR ACADEMIC EXCELLENCE - AN ACADEMIC ENRICHMENT AND SUPPORT PROGRAM THAT BENEFITS ALL STUDENTS AND TEACHERS AT THE SCHOOL.

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Trantor Score

Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

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Financial Overview (2023)

Revenue Breakdown

Contributions & Grants $2,785,096
Program Service Revenue $33,102,650
Investment Income $1,381,115
Other Revenue $58,309
TOTAL REVENUE $37,327,170

Expense Breakdown

Grants Paid $2,322,009
Salaries & Benefits $19,117,776
Fundraising Expenses $823,715
Program Expenses $28,734,987
Other Expenses $11,930,778
TOTAL EXPENSES $33,370,563

Year-over-Year Comparison

2023 2022 Change
Revenue $37,327,170 $34,222,865 +0.1%
Expenses $33,370,563 $30,305,411 +0.1%
Net Income $3,956,607 $3,917,454 +0.0%
Key Indicators
Grants to Organizations Grants to Individuals Lobbying Political Activity Foreign Activities Donor Advised Fund Schedule B Required
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Governance

Voting Members
20
Independent Members
20
Employees
320
Volunteers
100

Governance Policies

Conflict of Interest Policy
Whistleblower Policy
Document Retention Policy

Special Practices & Reported Activities

Operated a School
Operated a Hospital
Provided First Class Travel
Reported Conflict of Interest
Reported Asset Diversion
Excess Benefit Transaction
Made Political Expenditures
Engaged in Lobbying
Operated Donor Advised Fund
Maintained Art Collections
Filed Form 720

Compensation of Officers, Directors & Key Employees

Total Officers
6
$616,496
Total Directors
20
$0
Key Employees
0
$0
Highest Compensated
5
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
WILLIAM T CONROY CHAIR 1.00
Officer Director
$0 $0 $0
PAMELA H GREACEN VICE-CHAIR 1.00
Officer Director
$0 $0 $0
MATTHEW FREY TREASURER 1.00
Officer Director
$0 $0 $0
ANDREA SILVERMAN SECRETARY 1.00
Officer Director
$0 $0 $0
REBECCA ARMACOST TRUSTEE 1.00
Director
$0 $0 $0
MOHIT BANSAL TRUSTEE 1.00
Director
$0 $0 $0
ADAM BEFELER TRUSTEE 1.00
Director
$0 $0 $0
DARLA BROWNING-HUTTON TRUSTEE 1.00
Director
$0 $0 $0
JEFF FREEDMAN TRUSTEE 1.00
Director
$0 $0 $0
CORY G GAFFNEY TRUSTEE 1.00
Director
$0 $0 $0
NATALIE GEBICKE TRUSTEE 1.00
Director
$0 $0 $0
JASON GREEN TRUSTEE 1.00
Director
$0 $0 $0
ALEX LAVOIE TRUSTEE 1.00
Director
$0 $0 $0
ISAAC MCKINNEY III TRUSTEE 1.00
Director
$0 $0 $0
ADAM PRAWER TRUSTEE 1.00
Director
$0 $0 $0
JENINE RABIN TRUSTEE 1.00
Director
$0 $0 $0
SARAH L RIBEIRO TRUSTEE 1.00
Director
$0 $0 $0
BRENT RICHARD TRUSTEE 1.00
Director
$0 $0 $0
DAVID VETTER TRUSTEE 1.00
Director
$0 $0 $0
SHERRY WILLIAMS TRUSTEE 1.00
Director
$0 $0 $0
NANCY SPENCER HEAD OF SCHOOL 40.00
Officer
$345,556 $41,388 $386,944
LISA WYLIE CFO 40.00
Officer
$214,861 $14,691 $229,552
MICHAEL GILLIS DIRECTOR OF ADVANCEMENT 40.00
Highest
$164,929 $34,207 $199,136
ANTHONY MCCALL DIRECTOR OF ATHLETICS 40.00
Highest
$142,576 $23,450 $166,026
LISA BIANCO HEAD OF LOWER SCHOOL 40.00
Highest
$125,275 $10,723 $135,998
KRISTINE GRANT HEAD OF MIDDLE SCHOOL 40.00
Highest
$121,074 $24,471 $145,545
MARCUS HOLMES DIRECTOR OF FACILITIES 40.00
Highest
$118,735 $7,853 $126,588
Note: Compensation data is self-reported by the organization on their Form 990. "Reportable Comp" includes salary, bonuses, and other reportable compensation from the organization and related organizations. "Other Comp" includes benefits, deferred compensation, and non-taxable benefits.

Historical Data

Year Revenue Expenses Assets Net Income
2025 No data No data No data No data
2024 $37,327,170 $33,370,563 $94,739,109 $3,956,607
2023 $34,222,865 $30,305,411 $87,773,351 $3,917,454
2022 $30,198,380 $27,243,250 $81,259,238 $2,955,130
2021 $31,088,595 $24,824,328 $80,992,494 $6,264,267
2020 $27,770,033 $24,870,329 $66,227,534 $2,899,704
2019 $28,363,403 $23,759,188 $65,537,279 $4,604,215
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