LEADERSHIP PREPARATORY INC LEADERSHIP PRERPARATORY CHARTER SCHOOL

EIN: 464280290 501(c)(3) Education

MEMPHIS, TN

Total Revenue
$7,071,465
Total Expenses
$6,513,246
Total Assets
$6,620,289
Net Assets
$5,178,133
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Financial Vulnerability Assessment (Tuckman-Chang)

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Financial Trends

Organization Details

Formation Year
2014
Legal Domicile
TN
Principal Officer
VALISSIA ALLEN
Phone
9013783917
Tax Period
2024-07-01 to 2025-06-30

LEADERSHIP PREPARATORY INC LEADERSHIP PRERPARATORY CHARTER SCHOOL, founded in 2014, is a community nonprofit in the Education sector that reported $7.1M in total revenue in fiscal year 2024. Expenses of $6.5M left a modest 8% surplus.

Mission

LEADERSHIP PREPARATORY CHARTER SCHOOL IS AN ACADEMICALLY CHALLENGING, DISCIPLINED, SUPPORTIVE, AND JOYFUL SCHOOL. OUR MISSION ISA TO PROVIDE K-8 STUDENTS WITH THE ACADEMIC AND CHARACTER FOUNDATION NECESSARY TO EXCEL IN HIGH SCHOOL, GRADUATE FROM COLLEGE, AND LEAD IN THEIR COMMUNITIES. AUTHORIZED BY THE SHELBY COUNTY BOARD OF EDUCATION, LEADERSHIP PREP OPENED ITS DOORS TO AN INAUGURAL CLASS OF 60 KINDERGARTEN STUDENTS AND 60 FIST GRADE STUDENTS ON AUGUST 10, 2015. EACH YEAR, WE WILL GROW BY ONE GRADE UNTIL WE REACH OUR FULL CAPACITY AS A K-8 ELEMENTARY AND MIDDLE SCHOOL IN 2024. LEADERSHIP PREP IS COMMITTED TO PROVIDING A QUALITY EDUCATIONAL OPTION IN SOUTHEAST MEMPHIS AND ELIMINATING THE POWER OF DEMOGRAPHIC BIAS ON STUDENT ACHIEVEMENT. LEADERSHIP PREP WILL PROVIDE A RIGOROUS AND SUPPORTIVE EDUCATIONAL OPTION FOR ELEMENTARY AND MIDDLE SCHOOL STUDENTS. WE WILL ACHIEVE OUR MISSION BY ENSURING EVERY STUDENT RECEIVES THE ACADEMIC SKILLS, KNOWLEDGE, AND STRONG CHARACTER FOUNDATION NECESSARY TO SET THEM ON A PATH TO COLLEGE.

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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 (2024)

Revenue Breakdown

Contributions & Grants $1,143,532
Program Service Revenue $5,916,530
Investment Income $10,857
Other Revenue $546
TOTAL REVENUE $7,071,465

Expense Breakdown

Grants Paid $0
Salaries & Benefits $4,720,877
Fundraising Expenses $0
Program Expenses $5,211,478
Other Expenses $1,792,369
TOTAL EXPENSES $6,513,246

Year-over-Year Comparison

2024 2023 Change
Revenue $7,071,465 $7,437,637 0.0%
Expenses $6,513,246 $6,586,779 0.0%
Net Income $558,219 $850,858 -0.3%
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
10
Independent Members
10
Employees
94
Volunteers
10

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
3
$126,832
Total Directors
10
$0
Key Employees
0
$0
Highest Compensated
2
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
SHERRITA MASON WADE SECRETARY 1.00
Officer Director
$0 $0 $0
PATRICK MALONEY TREASURER 1.00
Officer Director
$0 $0 $0
NAKEISHA OWENS-GRIFFIN BOARD MEMBER 1.00
Director
$0 $0 $0
TANYA KIRK CHAIRMAN 1.00
Director
$0 $0 $0
DENICE M OLATUNJI BOARD MEMBER 1.00
Director
$0 $0 $0
PATRICK NEWMAN BOARD MEMBER 1.00
Director
$0 $0 $0
MATTHEW HURT BOARD MEMBER 1.00
Director
$0 $0 $0
JEREMY PATTERSON BOARD MEMBER 1.00
Director
$0 $0 $0
THOMAS MCDONALD VICE BOARD CHAIR 1.00
Director
$0 $0 $0
TERAMENA OLIVER BOARD MEMBER 1.00
Director
$0 $0 $0
VALISSIA ALLEN FOUNDER/HEAD OF SCHOOL 40.00
Officer
$120,176 $6,656 $126,832
CORLISS JAMES HCE 40.00
Highest
$115,041 $6,656 $121,697
TENISIA HICKS-SWEENEY DIRECTOR OF OPERATIONS 40.00
Highest
$117,500 $12,313 $129,813
JASMINE HOWARD PRINCIPAL (FORMER) 40.00
$110,252 $0 $110,252
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 $7,071,465 $6,513,246 $6,620,289 $558,219
2024 $7,437,637 $6,586,779 $5,900,468 $850,858
2023 $6,185,658 $5,309,362 $5,083,757 $876,296
2022 $4,906,664 $4,369,910 $4,918,537 $536,754
2021 $3,993,277 $3,368,201 $8,056,190 $625,076
2020 $3,322,720 $2,907,454 $3,175,425 $415,266
2019 $2,924,100 $2,353,369 $2,316,285 $570,731
2018 $1,997,309 $1,674,689 $1,405,943 $322,620
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