2026-05-15T22:29:50-05:00 2025-06-30 331374517 PKF O'CONNOR DAVIES ADVISORY LLC 300 TICE BOULEVARD SUITE 315 WOODCLIFF LAKE NJ 07677 990 2024-07-01 853827102 FRIENDS OF CHALLENGE PREP INC FRIE 3475856262 15-26 CENTRAL AVENUE FAR ROCKAWAY NY 11691 GERTRUDIS HERNANDEZ TREASURER 7183274040 2026-05-15 1 1 SACHA RICHARDS P01378509 2017129800 2026-05-15 2024 2025-03-06 01:10:19Z BEN WAXMAN 15-26 CENTRAL AVENUE FAR ROCKAWAY NY 11691 5076329 0 X N/A X 2020 NY TO SUPPORT THE OPERATION OF CHALLENGE PREPARATORY CHARTER SCHOOL (THE "SCHOOL") BY PROVIDING ASSISTANCE WITH THE SCHOOL'S REAL ESTATE AND FACILITIES-RELATED NEEDS, AND BY RAISING FUNDS AND RESOURCES THAT WILL ENABLE THE ORGANIZATION TO PROVIDE SUPPORT TO THE SCHOOL TO ENHANCE THE EXPERIENCE OF THE SCHOOL'S STUDENTS. 4 4 0 4 0 0 0 0 5058528 5076329 0 0 0 0 5058528 5076329 0 0 0 0 0 0 0 0 0 4980595 4996123 4980595 4996123 77933 80206 83585845 83139904 83334870 82808723 250975 331181 X TO SUPPORT THE OPERATION OF CHALLENGE PREPARATORY CHARTER SCHOOL (THE "SCHOOL") BY PROVIDING ASSISTANCE WITH THE SCHOOL'S REAL ESTATE AND FACILITIES-RELATED NEEDS, AND BY RAISING FUNDS AND RESOURCES THAT WILL ENABLE THE ORGANIZATION TO PROVIDE SUPPORT TO THE SCHOOL TO ENHANCE THE EXPERIENCE OF THE SCHOOL'S STUDENTS. 0 0 4975710 0 5076329 THE ORGANIZATION SUPPORTS THE OPERATIONS OF CHALLENGE PREPARATORY CHARTER SCHOOL, A NEW YORK STATE NOT-FOR-PROFIT EDUCATION CORPORATION THAT OPERATES A CHARTER SCHOOL IN NEW YORK. FRIENDS OF CHALLENGE PREP, INC. SUBLEASES FACILITIES TO THE SCHOOL. RENTAL INCOME UNDER THE SUBLEASE WAS $5,076,329 DURING THE FISCAL YEAR. 4975710 1 0 0 0 0 0 0 0 0 0 0 0 0 1 1 1 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 X 4 4 0 0 0 0 0 0 0 1 0 0 0 1 1 1 1 1 0 0 0 0 X DR LESLIE MULLINGS 3475856262 15-26 CENTRAL AVENUE FAR ROCKAWAY NY 11691 X BEN WAXMAN BOARD CHAIR 1.00 X X 0 0 0 AYANNA MAYS SECRETARY 2.00 X X 0 0 0 GERTRUDIS HERNANDEZ TREASURER 1.00 X X 0 0 0 MAUREEN OBSBOURNE DIRECTOR 0.50 X 0 0 0 DR LESLIE MULLINGS DIRECTOR 0.00 X 0 0 0 0 0 0 0 0 0 0 0 RENTAL INCOME 531120 5076329 5076329 5076329 5076329 5076329 0 0 2088 2088 15175 15175 3150 3150 2223 2223 4973487 4973487 4996123 4975710 20413 0 471247 281965 83114598 82857939 83585845 83139904 35000 6000 261435 269278 83038435 82533445 83334870 82808723 X 250975 331181 250975 331181 83585845 83139904 80206 0 X 0 1 X 0 0 X 779918 4835241 5058528 5076329 15750016 779918 4835241 5058528 5076329 15750016 0 0 0 15750016 779918 4835241 5058528 5076329 15750016 X 0 DEFERRED RENT ASSET 5199752 RIGHT-OF-USE ASSET, OPERATING LEASE 77446274 DUE FROM RELATED PARTY 211913 82857939 OPERATING LEASE LIABILITY 82533445 82533445 X 5076329 0 5076329 0 5076329 4996123 0 4996123 0 4996123 PART X, LINE 2: THE ORGANIZATION RECOGNIZES THE EFFECT OF INCOME TAX POSITIONS ONLY IF THOSE POSITIONS ARE MORE LIKELY THAN NOT TO BE SUSTAINED. MANAGEMENT HAS DETERMINED THAT THE ORGANIZATION HAD NO UNCERTAIN TAX POSITIONS THAT WOULD REQUIRE FINANCIAL STATEMENT RECOGNITION OR DISCLOSURE. THE ORGANIZATION IS NO LONGER SUBJECT TO EXAMINATIONS BY THE APPLICABLE TAXING JURISDICTIONS, FOR THE YEARS PRIOR TO JUNE 30, 2022. FORM 990, PART VI, SECTION A, LINE 8B THE ORGANIZATION HAD NO COMMITTEES WITH AUTHORITY TO ACT ON BEHALF OF THE GOVERNING BODY. FORM 990, PART VI, SECTION B, LINE 11B THE ORGANIZATION'S FORM 990 IS PREPARED BY AN OUTSIDE ACCOUNTING FIRM. IT IS THEN REVIEWED BY THE ORGANIZATION'S MANAGEMENT. ANY REQUIRED CHANGES ARE MADE AND A COMPLETE COPY OF THE FORM 990 IS PROVIDED TO ALL MEMBERS OF THE ORGANIZATION'S BOARD OF TRUSTEES PRIOR TO FILING WITH THE IRS. FORM 990, PART VI, SECTION B, LINE 12C THE ORGANIZATION HAS A CONFLICT-OF-INTEREST POLICY WHICH IS APPLICABLE TO ALL DIRECTORS, OFFICERS AND KEY PERSONS OF THE ORGANIZATION. IF AT ANY TIME DURING HIS OR HER TERM OF SERVICE, A DIRECTOR, OFFICER OR KEY PERSON HAS KNOWLEDGE THAT A RELATED PARTY HAS A FINANCIAL INTEREST OR THERE EXISTS A POTENTIAL RELATED PARTY TRANSACTION, THAT FINANCIAL INTEREST OR POTENTIAL RELATED PARTY TRANSACTION MUST BE PROMPTLY DISCLOSED IN WRITING TO EACH MEMBER OF THE BOARD, TOGETHER WITH ALL MATERIAL FACTS KNOWN TO SUCH PERSON ABOUT SUCH FINANCIAL INTEREST OR POTENTIAL RELATED PARTY TRANSACTION. DIRECTORS, OFFICERS AND KEY PERSONS SHALL ALSO PROMPTLY DISCLOSE TO THE BOARD ANY OTHER POTENTIAL CONFLICT OF INTEREST THAT MAY ARISE. ANY DIRECTOR, OFFICER OR KEY PERSON INVOLVED IN SUCH MATTER SHALL LEAVE THE ROOM IN WHICH DELIBERATIONS ARE CONDUCTED AND SHALL NOT VOTE, ACT OR ATTEMPT TO INFLUENCE IMPROPERLY THE DELIBERATIONS ON SUCH MATTER. ANY FINANCIAL INTEREST, RELATED PARTY TRANSACTION OR OTHER CONFLICT OF INTEREST SHALL BE APPROVED BY NOT LESS THAN A MAJORITY VOTE OF THE REMAINING BOARD MEMBERS PRESENT AND VOTING AT THE MEETING. THE MINUTES SHALL BE DOCUMENTED CONTEMPORANEOUSLY TO THE DISCUSSION AND DECISION REGARDING THE CONFLICT OF INTEREST. PRIOR TO A DIRECTOR'S, OFFICER'S OR KEY PERSON'S ELECTION, APPOINTMENT OR EMPLOYMENT AT THE ORGANIZATION, AS APPLICABLE, AND THEREAFTER ON AN ANNUAL BASIS, ALL DIRECTORS, OFFICERS AND KEY PERSONS SHALL DISCLOSE IN WRITING, ANY CONFLICT-OF-INTEREST TO THE SECRETARY OF THE ORGANIZATION. FORM 990, PART VI, SECTION C, LINE 19 THE ORGANIZATION MAKES ITS FORM 990 AVAILABLE FOR PUBLIC INSPECTION AS REQUIRED UNDER SECTION 6104 OF THE INTERNAL REVENUE CODE. THE RETURN IS POSTED ON GUIDESTAR.ORG AND OTHER SIMILAR TYPES OF WEBSITES. IN ADDITION, THE FINANCIAL STATEMENTS, CONFLICT OF INTEREST POLICY, ARTICLES OF INCORPORATION AND BY-LAWS ARE ALSO AVAILABLE UPON WRITTEN REQUEST.