ESSENCE PREP INC (EIN 853931348) - Form 990 Financial Analysis & Trantor Score

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Financial Vulnerability Assessment (Tuckman-Chang)

4 risk indicators measuring financial stability and operational resilience

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Financial Trends

Organization Details

Formation Year

2020

Legal Domicile

Principal Officer

AKEEM BROWN

Phone

2109975636

Tax Period

2023-07-01 to 2024-06-30

ESSENCE PREP INC, founded in 2020, is a community nonprofit in the Education sector that reported $4.5M in total revenue in fiscal year 2023. Expenses of $5.2M exceeded revenue, resulting in a 15% operating deficit.

Mission

Developing leading agents of changeEssence Preparatory Public School, through rigorous academics, intentional character development, and cultivating student knowledge of self, prepares all kindergarten through eighth grade students for high school, college, and beyond as leading agents of change in their communities.

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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%)

Financial Overview (2023)

Revenue Breakdown

Contributions & Grants $4,924,612

Program Service Revenue $0

Investment Income $-394,212

Other Revenue $0

TOTAL REVENUE $4,530,400

Expense Breakdown

Grants Paid $0

Salaries & Benefits $2,346,274

Fundraising Expenses $104,971

Program Expenses $4,311,047

Other Expenses $2,878,373

TOTAL EXPENSES $5,224,647

Year-over-Year Comparison

	2023	2022	Change
Revenue	$4,530,400	$4,295,871	+0.1%
Expenses	$5,224,647	$2,712,187	+0.9%
Net Income	$-694,247	$1,583,684	-1.4%

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

Governance

Voting Members

Independent Members

Employees

Volunteers

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

$120,988

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
AKEEM BROWN	CEO/SUPERINTEND	40.00	Officer	$120,988	$0	$120,988
BRIAN DILLARD	Chairman	2.00	Officer Director	$0	$0	$0
KANWAL S LOPEZ	VICE CHAIR	2.00	Officer Director	$0	$0	$0
JACKIE GORMAN	Secretary	2.00	Officer Director	$0	$0	$0
GEORGE PEDRAZA	FORMER TREASUR	2.00	Officer Director	$0	$0	$0
HENRIETTA MUNOZ	BOARD MEMBER	2.00	Director	$0	$0	$0
CYNTHIA WARRICK	BOARD MEMBER	2.00	Director	$0	$0	$0
MIKE FRISBIE	BOARD MEMBER	2.00	Director	$0	$0	$0
MARQUES MITCHELL	BOARD MEMBER	2.00	Director	$0	$0	$0
LUCINDA VIGIL	Treasurer	2.00	Officer Director	$0	$0	$0

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	$4,530,400	$5,224,647	$29,617,451	$-694,247
2023	$4,295,871	$2,712,187	$29,567,266	$1,583,684
2022	$1,506,948	$1,506,730	$1,063,372	$218

ESSENCE PREP INC