Skip to main content
IRS-authorized e-file provider · not the IRS

Nonprofit · EIN 59-3377240

ACADEMY PREP FOUNDATION INC

Tax-exempt · LAKELAND, FL 33805

Financials

$2M$1.6M2023$3.8M$2.6M2024
Revenue Expenses · by fiscal year end
Financials of ACADEMY PREP FOUNDATION INC by year, from its e-filed returns
Year endedFormRevenueExpensesNet incomeTotal assetsLiabilitiesNet assets
May 31, 2025990$3,849,470$2,619,007$1,230,463$44,294,139$296,291$43,997,848
May 31, 2024990$1,964,303$1,605,376$358,927$42,463,776$307,642$42,156,134
Financial details: 990 for the year ended May 31, 2025

Revenue

Contributions, gifts and grants
$975,080
Program service revenue
$0
Investment income
$2,874,058
Net gain from sales of assets
$1,966,494
Other revenue
$332

Expenses

Grants and similar amounts paid
$1,354,718
Compensation of officers, directors and key employees
$284,212
Other salaries and wages
$373,401
Salaries, compensation and benefits (total)
$657,613
Professional fundraising fees
$0
Accounting fees
$30,000
Travel
$6,678
Depreciation
$389,774
Program services (functional)
$2,128,893
Management and general (functional)
$429,058
Fundraising (functional)
$61,056

Balance sheet and other

Total assets, start of year
$42,463,776
Total assets, end of year
$44,294,139
Total liabilities, end of year
$296,291
Net assets, end of year
$43,997,848
Land, buildings and equipment
$12,791,724
Net assets without donor restrictions
$38,161,471
Net assets with donor restrictions
$5,836,377
Gross receipts
$4,571,731
Employees
10
Volunteers
10
Year formed
1996
State of legal domicile
FL

From the e-filed returns the IRS publishes as XML (latest three processing years; amended returns replace the original). PDF copies at the IRS.

Officers, directors and key employees

As listed on the 990 for the year ended May 31, 2025, highest compensation first.

NameTitleHours / weekCompensationFrom related orgsOther / benefits
LINCOLN TAMAYOCOO
Officer
5$92,242$147,550$21,544
TERRI SCARCELLICFO
Officer
32.5$108,851$0$8,582
TOM SANSONECHAIR
Trustee or director, Officer
5$0$0$0
PAUL L WHITING SRTREASURER
Trustee or director, Officer
5$0$0$0
JOHN ERIK SAVITSKYSECRETARY
Trustee or director, Officer
5$0$0$0
BRYANT JONESTRUSTEE
Trustee or director
5$0$0$0
OSCAR HORTONTRUSTEE
Trustee or director
5$0$0$0
SUSAN TOUCHTONTRUSTEE
Trustee or director
5$0$0$0
CHRIS BARROTTTRUSTEE
Trustee or director
5$0$0$0
NICK BARNETTTRUSTEE
Trustee or director
5$0$0$0
DAVID VETTERTRUSTEE
Trustee or director
5$0$0$0
ELIZABETH FOWLERTRUSTEE
Trustee or director
5$0$0$0
990 for the year ended May 31, 2024: 12 people
NameTitleHours / weekCompensationFrom related orgsOther / benefits
LINCOLN TAMAYO11COO
Officer
5$0$233,882$20,134
TERRI SCARCELLICFO
Officer
32.5$105,280$0$5,958
TOM SANSONECHAIR
Trustee or director, Officer
5$0$0$0
PAUL L WHITING SRTREASURER
Trustee or director, Officer
5$0$0$0
JOHN ERIK SAVITSKYSECRETARY
Trustee or director, Officer
5$0$0$0
PATRICIA DOUGLASTRUSTEE
Trustee or director
5$0$0$0
BRYANT JONESTRUSTEE
Trustee or director
5$0$0$0
OSCAR HORTONTRUSTEE
Trustee or director
5$0$0$0
SUSAN TOUCHTONTRUSTEE
Trustee or director
5$0$0$0
CHRIS BARROTTTRUSTEE
Trustee or director
5$0$0$0
NICK BARNETTTRUSTEE
Trustee or director
5$0$0$0
DAVID VETTERTRUSTEE
Trustee or director
5$0$0$0

Address and contacts

Address (IRS master file)
1021 LAKELAND HILLS BLVD, LAKELAND, FL 33805-4672
Principal officer (990 for 2024)
TERRI SCARCELLI EA, 1021 LAKELAND HILLS BLVD, LAKELAND, FL 33805
Signed the 990
TERRI SCARCELLI EA, CFO
Phone
(727) 322-0800
Return prepared by
RIVERO GORDIMER & COMPANY PA

Mission

OFFER ASSISTANCE AND SUPPORT TO ACADEMY PREP CENTERS TOWARD THEIR MISSION TO PROMOTE THE EDUCATIONAL, SOCIAL AND ETHICAL DEVELOPMENT OF MIDDLE SCHOOL STUDENTS THROUGH A RIGOROUS ACADEMIC PROGRAM.

990 for the year ended May 31, 2025

Program accomplishments

  • FOUNDATION PROVIDES SERVICES RELATED TO THE DEVELOPMENT AND ENHANCEMENT OF EDUCATIONAL PROGRAMS TO EDUCATIONAL FACILITIES ALONG WITH OTHER ADMINISTRATIVE ASSISTANCE. FOUNDATION COORDINATES FUNDRAISING ACTIVITIES AND HOLDS INVESTMENTS, INCLUDING FUNDS THE BOARD DESIGNATED FOR THE SUPPORT OF ACADEMY PREP CENTER OF TAMPA, ACADEMY PREP CENTER OF ST. PETERSBURG AND ACADEMY PREP CENTER OF LAKELAND ("THE SCHOOLS"). THE FOUNDATION OWNS THE LAND AND IMPROVEMENTS THAT HOUSE THE EDUCATIONAL FACILITIES FOR THE SCHOOLS. THE SCHOOLS ARE SCHOLARSHIP SUPPORTED MIDDLE SCHOOLS FOR INNER CITY CHILDREN WHICH ALSO PROVIDE SUMMER AND EVENING CLASSES FOR STUDENT ENHANCEMENT AND EDUCATION.
    Expenses $2,128,893 · grants $1,354,718

What it must file and when

IRS records say it files Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N. Its accounting year ends in May, so each return is due on the 15th day of the 5th month after that.

Tax yearYear endedDueIRS public records
2025May 31, 2026October 15, 2026Not on file
2024May 31, 2025October 15, 2025990 on file
2023May 31, 2024October 15, 2024990 on file

IRS record

EIN
59-3377240
Tax-exempt status
501(c)(3): Charitable, religious, educational or scientific organization
Foundation status
Publicly supported organization (170(b)(1)(A)(vi))
Donations deductible (Pub 78)
Public charity, 50% deduction limit
Exempt since
1997
Accounting year ends
May
Files
Form 990 or 990-EZ
Category (NTEE)
Education (B20)
Assets (IRS master file)
$44,294,139
Income (IRS master file)
$4,571,731

Filing history

FormYear endedRevenueExpensesAssetsReturn
990May 2025$3,849,470$2,619,007$44,294,139XML
990May 2024$1,964,303$1,605,376$42,463,776XML
990May 2023$5,822,433$1,235,952$37,885,881IRS
990May 2022$446,861$1,095,665$38,353,670IRS
990May 2021–––IRS
990May 2020–––IRS
990May 2019–––IRS
990May 2018–––IRS

990-N: the IRS bulk file holds only the latest e-Postcard per organization; earlier years come from archived copies of that file since 2020 and can have gaps (the IRS e-Postcard search lists every one). 990, 990-EZ, 990-PF, 990-T: every e-filed return in the IRS e-file index since 2019; XML for the latest three processing years, amounts from the IRS Statistics of Income extracts before that. PDF copies and determination letters at the IRS (search EIN 59-3377240).

Questions about ACADEMY PREP FOUNDATION INC

What is the EIN of ACADEMY PREP FOUNDATION INC?
The employer identification number (EIN) of ACADEMY PREP FOUNDATION INC is 59-3377240.
Is ACADEMY PREP FOUNDATION INC tax-exempt?
Yes. The IRS lists it as tax-exempt under section 501(c)(3) since 1997.
Are donations to ACADEMY PREP FOUNDATION INC tax-deductible?
Yes. It is listed in IRS Publication 78 (Public charity, 50% deduction limit).
Which annual return does ACADEMY PREP FOUNDATION INC file?
Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N.
When is the next return of ACADEMY PREP FOUNDATION INC due?
The return for tax year 2025 (the year ending May 31, 2026) is due October 15, 2026. Form 8868 extends it by six months; the 990-N cannot be extended.
When did ACADEMY PREP FOUNDATION INC last file with the IRS?
The latest return in the IRS public files is the 990 for the year ended May 2025.
Who is the principal officer of ACADEMY PREP FOUNDATION INC?
The 990 for the year ended May 31, 2025 names TERRI SCARCELLI EA.
Who are the officers and directors of ACADEMY PREP FOUNDATION INC?
The 990 for the year ended May 31, 2025 lists 12 people; 2 received compensation from the organization, the highest $92,242 (LINCOLN TAMAYO, COO).
How much revenue does ACADEMY PREP FOUNDATION INC have?
On its 990 for the year ended May 31, 2025 it reported revenue of $3,849,470, expenses of $2,619,007 and total assets of $44,294,139 at year end.

Other nonprofits in LAKELAND

All nonprofits in LAKELAND · Florida · Education