Village Preparatory School III

EIN: 810807096 501(c)(3) Education

Cleveland, OH

Total Revenue
$8,960,560
Total Expenses
$10,501,883
Total Assets
$8,113,053
Net Assets
$-2,752,953
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Financial Vulnerability Assessment (Tuckman-Chang)

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Financial Trends

Organization Details

Formation Year
2016
Legal Domicile
OH
Phone
2165863892
Tax Period
2024-07-01 to 2025-06-30

Village Preparatory School III, founded in 2016, is a community nonprofit in the Education sector that reported $9.0M in total revenue in fiscal year 2024. Revenue surged 23% from the prior year, signaling strong growth momentum. Expenses of $10.5M exceeded revenue, resulting in a 17% operating deficit.

Mission

The School's mission is to seek to provide a high quality, academically rigorous education for the college bound scholars. The School empowers their scholars to think critically, assume social responsibility, and serve as advocates for themselves and the community.

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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 $7,758,137
Program Service Revenue $118,509
Investment Income $62,448
Other Revenue $1,021,466
TOTAL REVENUE $8,960,560

Expense Breakdown

Grants Paid $0
Salaries & Benefits $5,874,876
Fundraising Expenses $0
Program Expenses $7,633,947
Other Expenses $4,627,007
TOTAL EXPENSES $10,501,883

Year-over-Year Comparison

2024 2023 Change
Revenue $8,960,560 $7,306,286 +0.2%
Expenses $10,501,883 $9,464,061 +0.1%
Net Income $-1,541,323 $-2,157,775 -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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Financial Health Indicators

Comprehensive financial analysis: Altman Z-Score, liquidity, solvency, sustainability, efficiency, and growth metrics

Financial Distress Indicator

Liquidity & Cash Position

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Altman Z-Score • Liquidity Ratios • Solvency Analysis • Growth Indicators • Efficiency Metrics

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Governance

Voting Members
5
Independent Members
5
Employees
94
Volunteers
N/A

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
$0
Total Directors
5
$0
Key Employees
2
$160,143
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
Shartara Miller Principal 40
Key Emp
$82,994 $0 $82,994
Aditi Garg Board chair 0.50
Officer Director
$0 $0 $0
Michelle Harris Secretary 0.50
Officer Director
$0 $0 $0
Reggie Novak Finance chair 0.50
Officer Director
$0 $0 $0
Cecil Lipscomb Board member 0.50
Director
$0 $0 $0
Grady Burrows Board member 0.50
Director
$0 $0 $0
Aaliyah Miller Principal 40
Key Emp
$77,149 $0 $77,149
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 $8,960,560 $10,501,883 $8,113,053 $-1,541,323
2024 $7,306,286 $9,464,061 $9,721,883 $-2,157,775
2023 $8,942,527 $9,309,957 $11,673,228 $-367,430
2022 $10,035,719 $7,651,652 $12,174,939 $2,384,067
2021 $6,611,992 $7,417,669 $5,157,049 $-805,677
2020 $5,407,059 $6,156,037 $4,413,088 $-748,978
2019 $4,193,805 $4,203,561 $3,347,663 $-9,756
2018 $4,919,664 $4,545,309 $2,501,377 $374,355
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