STATESMEN COLLEGE PREPARATORY ACADEMY FOR BOYS

EIN: 821901942 501(c)(3) Education

WASHINGTON, DC

Total Revenue
$12,070,542
Total Expenses
$10,888,369
Total Assets
$7,390,725
Net Assets
$6,401,784
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Financial Vulnerability Assessment (Tuckman-Chang)

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Financial Trends

Organization Details

Formation Year
2017
Legal Domicile
DC
Principal Officer
SHAWN HARDNETT
Phone
2025059072
Tax Period
2024-07-01 to 2025-06-30

STATESMEN COLLEGE PREPARATORY ACADEMY FOR BOYS, founded in 2017, is a mid-sized nonprofit in the Education sector that reported $12.1M in total revenue in fiscal year 2024. Expenses of $10.9M left a modest 10% surplus.

Mission

TO CREATE A BOY-FRIENDLY, PEDAGOGY-INFORMED ACADEMIC ENVIRONMENT WITHIN WHICH YOUNG MEN ARE EQUIPPED WITH THE ACADEMIC SKILLS, SOCIAL COMPETENCIES, AND PERSONAL DEVELOPMENT NECESSARY TO NAVIGATE LIFE CHALLENGES, ATTEND AND COMPLETE THE COLLEGE OF THEIR CHOICE, AND RETURN TO BECOME THE PREMIER AGENTS OF SOCIAL CHANGE WITHIN AND FOR THE COMMUNITIES THEY SERVE.

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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 $2,234,307
Program Service Revenue $9,549,932
Investment Income $282,556
Other Revenue $3,747
TOTAL REVENUE $12,070,542

Expense Breakdown

Grants Paid $0
Salaries & Benefits $5,606,610
Fundraising Expenses $294,365
Program Expenses $9,615,257
Other Expenses $5,281,759
TOTAL EXPENSES $10,888,369

Year-over-Year Comparison

2024 2023 Change
Revenue $12,070,542 $11,518,464 +0.0%
Expenses $10,888,369 $10,952,380 0.0%
Net Income $1,182,173 $566,084 +1.1%
Key Indicators
✗ Grants to Organizations ✗ Grants to Individuals ✗ Lobbying ✗ Political Activity ✗ Foreign Activities ✗ Donor Advised Fund ✓ Schedule B Required
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Liquidity & Cash Position

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Governance

Voting Members
12
Independent Members
11
Employees
90
Volunteers
11

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
5
$247,963
Total Directors
12
$247,963
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
NICOLE SOLOMON MITCHELL BOARD CHAIR 2.00
Officer Director
$0 $0 $0
RAYMOND A WEEDEN JR BOARD VICE CHAIR 2.00
Officer Director
$0 $0 $0
JUAN PAGAN TREASURER & FINANCE CHAIR 2.00
Officer Director
$0 $0 $0
GREG VAN HOUTEN SECRETARY 2.00
Officer Director
$0 $0 $0
ALICIA R ADAMS ACADEMIC & PROGRAM EXCELLENCE CO-CHAIR 1.00
Director
$0 $0 $0
RAY D MCKENZIE ACADEMIC & PROGRAM EXCELLENCE CO-CHAIR 1.00
Director
$0 $0 $0
SAMANTHA BARBEE TRUSTEE 1.00
Director
$0 $0 $0
SATIRA STREETER CORBITT TRUSTEE 1.00
Director
$0 $0 $0
BISI OYEDALE TRUSTEE 1.00
Director
$0 $0 $0
BARBARA WILLIAMS TRUSTEE 1.00
Director
$0 $0 $0
BERNARD WOOLFEY TRUSTEE 1.00
Director
$0 $0 $0
SHAWN HARDNETT FOUNDER AND EXECUTIVE DIRECTOR 40.00
Officer Director
$230,183 $17,780 $247,963
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 $12,070,542 $10,888,369 $7,390,725 $1,182,173
2024 $11,518,464 $10,952,380 $5,602,596 $566,084
2024 No data No data No data No data
2023 $9,565,578 $8,889,619 $5,968,232 $675,959
2022 $7,284,968 $6,683,047 $4,261,037 $601,921
2021 $6,065,983 $4,434,744 $3,562,813 $1,631,239
2020 $3,737,897 $3,699,622 $2,111,441 $38,275
2018 $1,076,468 $753,657 $366,914 $322,811
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