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PROSPECT SCHOOLS INC: Form 990, tax year 2019

View the entire original 990 at ProPublica ↗

Organization
PROSPECT SCHOOLS INC (EIN 33-1174065)
Tax period
2019-07-01 to 2020-06-30
Filed
2021-05-17
IRS object ID
202131379349306153
Schema version
2019v5.2
Source
Download XML · Original 990 at ProPublica

Every field in the e-filed return. Faint text is the IRS element name, for citing.

Return header ReturnHeader

FieldValueIRS element (for citing)
Return2021-05-17T13:48:40-05:00ReturnTs
Tax Period End2020-06-30TaxPeriodEndDt

Preparer Firm PreparerFirmGrp

FieldValueIRS element (for citing)
Preparer Firm EIN271728945PreparerFirmEIN

Preparer Firm Name PreparerFirmName

FieldValueIRS element (for citing)
Business Name Line1PKF O'CONNOR DAVIES LLPBusinessNameLine1Txt

Preparer US Address PreparerUSAddress

FieldValueIRS element (for citing)
Address Line1500 MAMARONECK AVENUEAddressLine1Txt
CityHARRISONCityNm
State AbbreviationNYStateAbbreviationCd
ZIP105281633ZIPCd
FieldValueIRS element (for citing)
Return Type990ReturnTypeCd
Tax Period Begin2019-07-01TaxPeriodBeginDt

Filer Filer

FieldValueIRS element (for citing)
EIN331174065EIN

Business Name BusinessName

FieldValueIRS element (for citing)
Business Name Line1PROSPECT SCHOOLS INCBusinessNameLine1Txt
FieldValueIRS element (for citing)
Business Name ControlPROSBusinessNameControlTxt
Phone7186431086PhoneNum

US Address USAddress

FieldValueIRS element (for citing)
Address Line1355 BRIDGE STREETAddressLine1Txt
CityBROOKLYNCityNm
State AbbreviationNYStateAbbreviationCd
ZIP11201ZIPCd

Business Officer BusinessOfficerGrp

FieldValueIRS element (for citing)
PersonKATE WALKERPersonNm
Person TitleBOARD CHAIRPersonTitleTxt
Phone7186431086PhoneNum
Signature2021-05-17SignatureDt
Discuss With Paid PreparerYes (1)DiscussWithPaidPreparerInd

Preparer Person PreparerPersonGrp

FieldValueIRS element (for citing)
Preparer PersonGARRETT M HIGGINSPreparerPersonNm
PTINP00543209PTIN
Phone9143818900PhoneNum
Preparation2021-05-17PreparationDt
FieldValueIRS element (for citing)
Tax2019TaxYr
Build TS2022-09-23 18:48:47ZBuildTS

Form 990 IRS990

FieldValueIRS element (for citing)
Principal OfficerKATE WALKERPrincipalOfficerNm

US Address USAddress

FieldValueIRS element (for citing)
Address Line1355 BRIDGE STREETAddressLine1Txt
CityBROOKLYNCityNm
State AbbreviationNYStateAbbreviationCd
ZIP11201ZIPCd
FieldValueIRS element (for citing)
Gross Receipts$7,039,893GrossReceiptsAmt
Group Return For Affiliates0GroupReturnForAffiliatesInd
Organization501c3Yes (X)Organization501c3Ind
Website AddressN/AWebsiteAddressTxt
Type Of Organization CorpYes (X)TypeOfOrganizationCorpInd
Formation2007FormationYr
Legal Domicile StateNYLegalDomicileStateCd
Activity Or MissionTO PROVIDE COMPREHENSIVE MANAGEMENT SERVICES TO BROOKLYN PROSPECT CHARTER SCHOOL AND TO RAISE FUNDS IN SUPPORT OF THE SCHOOL.ActivityOrMissionDesc
Voting Members Governing Body5VotingMembersGoverningBodyCnt
Voting Members Independent5VotingMembersIndependentCnt
Total Employee62TotalEmployeeCnt
Total Volunteers5TotalVolunteersCnt
Total Gross UBI$0TotalGrossUBIAmt
Net Unrelated Bus Txbl Incm$0NetUnrelatedBusTxblIncmAmt
PY Contributions Grants$1,394,963PYContributionsGrantsAmt
CY Contributions Grants$3,128,718CYContributionsGrantsAmt
PY Program Service Revenue$3,418,397PYProgramServiceRevenueAmt
CY Program Service Revenue$3,890,931CYProgramServiceRevenueAmt
PY Investment Income$1,319PYInvestmentIncomeAmt
CY Investment Income$1,284CYInvestmentIncomeAmt
PY Other Revenue-$8,414PYOtherRevenueAmt
CY Other Revenue$18,960CYOtherRevenueAmt
PY Total Revenue$4,806,265PYTotalRevenueAmt
CY Total Revenue$7,039,893CYTotalRevenueAmt
PY Grants And Similar Paid$296,344PYGrantsAndSimilarPaidAmt
CY Grants And Similar Paid$263,606CYGrantsAndSimilarPaidAmt
PY Benefits Paid To Members$0PYBenefitsPaidToMembersAmt
CY Benefits Paid To Members$0CYBenefitsPaidToMembersAmt
PY Salaries Comp Emp Bnft Paid$3,635,803PYSalariesCompEmpBnftPaidAmt
CY Salaries Comp Emp Bnft Paid$4,696,713CYSalariesCompEmpBnftPaidAmt
PY Total Prof Fndrsng Expns$0PYTotalProfFndrsngExpnsAmt
CY Total Prof Fndrsng Expns$0CYTotalProfFndrsngExpnsAmt
CY Total Fundraising Expense$200,904CYTotalFundraisingExpenseAmt
PY Other Expenses$745,485PYOtherExpensesAmt
CY Other Expenses$997,127CYOtherExpensesAmt
PY Total Expenses$4,677,632PYTotalExpensesAmt
CY Total Expenses$5,957,446CYTotalExpensesAmt
PY Revenues Less Expenses$128,633PYRevenuesLessExpensesAmt
CY Revenues Less Expenses$1,082,447CYRevenuesLessExpensesAmt
Total Assets BOY$2,400,447TotalAssetsBOYAmt
Total Assets EOY$3,820,756TotalAssetsEOYAmt
Total Liabilities BOY$463,075TotalLiabilitiesBOYAmt
Total Liabilities EOY$800,937TotalLiabilitiesEOYAmt
Net Assets Or Fund Balances BOY$1,937,372NetAssetsOrFundBalancesBOYAmt
Net Assets Or Fund Balances EOY$3,019,819NetAssetsOrFundBalancesEOYAmt
MissionTHE ORGANIZATION'S PURPOSE IS TO PROVIDE COMPREHENSIVE MANAGEMENT SERVICES TO THE BROOKLYN PROSPECT CHARTER SCHOOL AND OTHER POTENTIAL SCHOOLS IN ITS NETWORK AND TO RAISE FUNDS IN SUPPORT OF NEW YORK CHARTER SCHOOLS.MissionDesc
Significant New Program Srvc0SignificantNewProgramSrvcInd
Significant Change0SignificantChangeInd
Expense$5,054,448ExpenseAmt
Grant$263,606GrantAmt
Revenue$3,890,931RevenueAmt
DescPROSPECT SCHOOLS, INC. WAS FORMED ON JUNE 4, 2007 UNDER THE LAWS OF NEW YORK. THE ORGANIZATION PROVIDES COMPREHENSIVE MANAGEMENT SERVICES AND RAISES FUNDS TO SUPPORT BROOKLYN PROSPECT CHARTER SCHOOL, AN EDUCATIONAL CORPORATION THAT OPERATES THREE CHARTER SCHOOLS IN THE BOROUGH OF BROOKLYN, NY.Desc
Total Program Service Expenses$5,054,448TotalProgramServiceExpensesAmt
Described In Section501c3Yes (1)DescribedInSection501c3Ind
Schedule B RequiredYes (1)ScheduleBRequiredInd
Political Campaign Acty0PoliticalCampaignActyInd
Lobbying Activities0LobbyingActivitiesInd
Subject To Proxy Tax0SubjectToProxyTaxInd
Donor Advised Fund0DonorAdvisedFundInd
Conservation Easements0ConservationEasementsInd
Collections Of Art0CollectionsOfArtInd
Credit Counseling0CreditCounselingInd
Donor Rstr Or Quasi Endowments0DonorRstrOrQuasiEndowmentsInd
Report Land Building EquipmentYes (1)ReportLandBuildingEquipmentInd
Report Investments Other Sec0ReportInvestmentsOtherSecInd
Report Program Related Invst0ReportProgramRelatedInvstInd
Report Other Assets0ReportOtherAssetsInd
Report Other LiabilitiesYes (1)ReportOtherLiabilitiesInd
Include FIN48 FootnoteYes (1)IncludeFIN48FootnoteInd
Independent Audit Fincl StmtYes (1)IndependentAuditFinclStmtInd
Consolidated Audit Fincl Stmt0ConsolidatedAuditFinclStmtInd
School Operating0SchoolOperatingInd
Foreign Office0ForeignOfficeInd
Foreign Activities0ForeignActivitiesInd
More Than5000 K To Org0MoreThan5000KToOrgInd
More Than5000 K To Individuals0MoreThan5000KToIndividualsInd
Professional Fundraising0ProfessionalFundraisingInd
Fundraising Activities0FundraisingActivitiesInd
Gaming Activities0GamingActivitiesInd
Operate Hospital0OperateHospitalInd
Grants To OrganizationsYes (1)GrantsToOrganizationsInd
Grants To Individuals0GrantsToIndividualsInd
Schedule J RequiredYes (1)ScheduleJRequiredInd
Tax Exempt Bonds0TaxExemptBondsInd
Engaged In Excess Benefit Trans0EngagedInExcessBenefitTransInd
PY Excess Benefit Trans0PYExcessBenefitTransInd
Loan Outstanding0LoanOutstandingInd
Grant To Related Person0GrantToRelatedPersonInd
Business Rln With Org Mem0BusinessRlnWithOrgMemInd
Business Rln With Fam Mem0BusinessRlnWithFamMemInd
Business Rln With35 Ctrl Ent0BusinessRlnWith35CtrlEntInd
Deductible Non Cash Contri0DeductibleNonCashContriInd
Deductible Art Contribution0DeductibleArtContributionInd
Terminate Operations0TerminateOperationsInd
Partial Liquidation0PartialLiquidationInd
Disregarded Entity0DisregardedEntityInd
Related Entity0RelatedEntityInd
Related Organization Ctrl Ent0RelatedOrganizationCtrlEntInd
Trnsfr Exmpt Non Chrtbl Rltd Org0TrnsfrExmptNonChrtblRltdOrgInd
Activities Conducted Prtshp0ActivitiesConductedPrtshpInd
Schedule O RequiredYes (1)ScheduleORequiredInd
IRP Document18IRPDocumentCnt
IRP Document W2 G0IRPDocumentW2GCnt
Employee62EmployeeCnt
Employment Tax Returns FiledYes (1)EmploymentTaxReturnsFiledInd
Unrelated Bus Incm Over Limit0UnrelatedBusIncmOverLimitInd
Foreign Financial Account0ForeignFinancialAccountInd
Prohibited Tax Shelter Trans0ProhibitedTaxShelterTransInd
Taxable Party Notification0TaxablePartyNotificationInd
Nondeductible Contributions0NondeductibleContributionsInd
Quid Pro Quo Contributions0QuidProQuoContributionsInd
Form8282 Property Disposed Of0Form8282PropertyDisposedOfInd
Rcv Fnds To Pay Prsnl Bnft Cntrct0RcvFndsToPayPrsnlBnftCntrctInd
Pay Premiums Prsnl Bnft Cntrct0PayPremiumsPrsnlBnftCntrctInd
Indoor Tanning Services0IndoorTanningServicesInd
Subj To Tax Rmnrtn Ex Prcht Pymt0SubjToTaxRmnrtnExPrchtPymtInd
Subject To Excs Tax Net Invst Inc0SubjectToExcsTaxNetInvstIncInd
Info In Schedule O Part VIYes (X)InfoInScheduleOPartVIInd
Governing Body Voting Members5GoverningBodyVotingMembersCnt
Independent Voting Member5IndependentVotingMemberCnt
Family Or Business Rln0FamilyOrBusinessRlnInd
Delegation Of Mgmt Duties0DelegationOfMgmtDutiesInd
Change To Org Documents0ChangeToOrgDocumentsInd
Material Diversion Or Misuse0MaterialDiversionOrMisuseInd
Members Or Stockholders0MembersOrStockholdersInd
Election Of Board Members0ElectionOfBoardMembersInd
Decisions Subject To Approva0DecisionsSubjectToApprovaInd
Minutes Of Governing BodyYes (1)MinutesOfGoverningBodyInd
Minutes Of CommitteesYes (1)MinutesOfCommitteesInd
Officer Mailing Address0OfficerMailingAddressInd
Local Chapters0LocalChaptersInd
Form990 Provided To Gvrn BodyYes (1)Form990ProvidedToGvrnBodyInd
Conflict Of Interest PolicyYes (1)ConflictOfInterestPolicyInd
Annual Disclosure Covered PrsnYes (1)AnnualDisclosureCoveredPrsnInd
Regular Monitoring EnfrcYes (1)RegularMonitoringEnfrcInd
Whistleblower PolicyYes (1)WhistleblowerPolicyInd
Document Retention PolicyYes (1)DocumentRetentionPolicyInd
Compensation Process CEOYes (1)CompensationProcessCEOInd
Compensation Process OtherYes (1)CompensationProcessOtherInd
Investment In Joint Venture0InvestmentInJointVentureInd
States Where Copy Of Return Is FldNYStatesWhereCopyOfReturnIsFldCd
Other WebsiteYes (X)OtherWebsiteInd
Upon RequestYes (X)UponRequestInd

Books In Care Of Detail BooksInCareOfDetail

Business Name BusinessName

FieldValueIRS element (for citing)
Business Name Line1HILLARY PRINCEBusinessNameLine1Txt
FieldValueIRS element (for citing)
Phone7186431086PhoneNum

US Address USAddress

FieldValueIRS element (for citing)
Address Line1355 BRIDGE STREETAddressLine1Txt
CityBROOKLYNCityNm
State AbbreviationNYStateAbbreviationCd
ZIP11201ZIPCd

Form990 Part VII Section A Form990PartVIISectionAGrp (11 entries)

TitleTitleTxtAverage Hours Per WeekAverageHoursPerWeekRtOfficerOfficerIndReportable Comp From OrgReportableCompFromOrgAmtReportable Comp From Rltd OrgReportableCompFromRltdOrgAmtOther CompensationOtherCompensationAmtHighest Compensated EmployeeHighestCompensatedEmployeeIndIndividual Trustee Or DirectorIndividualTrusteeOrDirectorInd
DANIEL RUBENSTEIN
CHIEF EXECUTIVE OFFICER50.00Yes (X)$208,488$0$38,187
JONATHAN MCINTOSH
CHIEF ACADEMIC OFFICER50.00Yes (X)$141,410$0$37,738
HILLARY PRINCE
CHIEF FINANCIAL OFFICER50.00Yes (X)$143,793$0$20,367
PENELOPE MARZULLI
DEPUTY EXECUTIVE OFFICER50.00Yes (X)$113,201$0$26,914
ASHLEY PLATT
DIRECTOR OF NETWORK OPERATIONS50.00$102,013$0$13,937Yes (X)
KATE WALKER
BOARD CHAIR1.00Yes (X)$0$0$0Yes (X)
KEVIN MOLE
TREASURER1.00Yes (X)$0$0$0Yes (X)
ELIZABETH VARLEY CAMP
SECRETARY1.00Yes (X)$0$0$0Yes (X)
STEPHEN BAILEY
BOARD MEMBER1.00$0$0$0Yes (X)
JENNIFER BENN
BOARD MEMBER1.00$0$0$0Yes (X)
ELAINE PEREZ
COO (STARTING 03/20)50.00Yes (X)$0$0$0
FieldValueIRS element (for citing)
Total Reportable Comp From Org$708,905TotalReportableCompFromOrgAmt
Tot Reportable Comp Rltd Org$0TotReportableCompRltdOrgAmt
Total Other Compensation$137,143TotalOtherCompensationAmt
Indiv Rcvd Greater Than100 K5IndivRcvdGreaterThan100KCnt
Former Ofcr Employees Listed0FormerOfcrEmployeesListedInd
Total Comp Greater Than150 KYes (1)TotalCompGreaterThan150KInd
Compensation From Other Srcs0CompensationFromOtherSrcsInd
Cntrct Rcvd Greater Than100 K0CntrctRcvdGreaterThan100KCnt
Government Grants$129,169GovernmentGrantsAmt
All Other Contributions$2,999,549AllOtherContributionsAmt
Total Contributions$3,128,718TotalContributionsAmt

Program Service Revenue ProgramServiceRevenueGrp

FieldValueIRS element (for citing)
DescMANAGEMENT FEESDesc
Business541610BusinessCd
Total Revenue Column$3,890,931TotalRevenueColumnAmt
Related Or Exempt Func Income$3,890,931RelatedOrExemptFuncIncomeAmt
FieldValueIRS element (for citing)
Total Program Service Revenue$3,890,931TotalProgramServiceRevenueAmt

Investment Income InvestmentIncomeGrp

FieldValueIRS element (for citing)
Total Revenue Column$1,284TotalRevenueColumnAmt
Exclusion$1,284ExclusionAmt

Other Revenue Misc OtherRevenueMiscGrp (2 entries)

DescDescBusinessBusinessCdTotal Revenue ColumnTotalRevenueColumnAmtExclusionExclusionAmt
REFUNDS900099$17,610$17,610
OTHER INCOME900099$1,350$1,350
FieldValueIRS element (for citing)
Other Revenue Total$18,960OtherRevenueTotalAmt

Total Revenue TotalRevenueGrp

FieldValueIRS element (for citing)
Total Revenue Column$7,039,893TotalRevenueColumnAmt
Related Or Exempt Func Income$3,890,931RelatedOrExemptFuncIncomeAmt
Unrelated Business Revenue$0UnrelatedBusinessRevenueAmt
Exclusion$20,244ExclusionAmt

Grants To Domestic Orgs GrantsToDomesticOrgsGrp

FieldValueIRS element (for citing)
Total$263,606TotalAmt
Program Services$263,606ProgramServicesAmt

Comp Current Ofcr Directors CompCurrentOfcrDirectorsGrp

FieldValueIRS element (for citing)
Total$803,898TotalAmt
Program Services$321,559ProgramServicesAmt
Management And General$442,144ManagementAndGeneralAmt
Fundraising$40,195FundraisingAmt

Other Salaries And Wages OtherSalariesAndWagesGrp

FieldValueIRS element (for citing)
Total$3,106,478TotalAmt
Program Services$2,903,972ProgramServicesAmt
Management And General$115,302ManagementAndGeneralAmt
Fundraising$87,204FundraisingAmt

Pension Plan Contributions PensionPlanContributionsGrp

FieldValueIRS element (for citing)
Total$94,453TotalAmt
Program Services$89,921ProgramServicesAmt
Management And General$1,947ManagementAndGeneralAmt
Fundraising$2,585FundraisingAmt

Other Employee Benefits OtherEmployeeBenefitsGrp

FieldValueIRS element (for citing)
Total$389,986TotalAmt
Program Services$354,375ProgramServicesAmt
Management And General$24,246ManagementAndGeneralAmt
Fundraising$11,365FundraisingAmt

Payroll Taxes PayrollTaxesGrp

FieldValueIRS element (for citing)
Total$301,898TotalAmt
Program Services$252,095ProgramServicesAmt
Management And General$40,093ManagementAndGeneralAmt
Fundraising$9,710FundraisingAmt

Fees For Services Legal FeesForServicesLegalGrp

FieldValueIRS element (for citing)
Total$7,617TotalAmt
Program Services$7,235ProgramServicesAmt
Management And General$382ManagementAndGeneralAmt

Fees For Services Accounting FeesForServicesAccountingGrp

FieldValueIRS element (for citing)
Total$25,040TotalAmt
Management And General$25,040ManagementAndGeneralAmt

Fees For Services Other FeesForServicesOtherGrp

FieldValueIRS element (for citing)
Total$376,067TotalAmt
Program Services$355,553ProgramServicesAmt
Management And General$18,500ManagementAndGeneralAmt
Fundraising$2,014FundraisingAmt

Advertising AdvertisingGrp

FieldValueIRS element (for citing)
Total$79,425TotalAmt
Program Services$79,425ProgramServicesAmt

Office Expenses OfficeExpensesGrp

FieldValueIRS element (for citing)
Total$91,671TotalAmt
Program Services$74,316ProgramServicesAmt
Management And General$11,526ManagementAndGeneralAmt
Fundraising$5,829FundraisingAmt

Information Technology InformationTechnologyGrp

FieldValueIRS element (for citing)
Total$40,935TotalAmt
Program Services$37,153ProgramServicesAmt
Management And General$1,922ManagementAndGeneralAmt
Fundraising$1,860FundraisingAmt

Occupancy OccupancyGrp

FieldValueIRS element (for citing)
Total$150,003TotalAmt
Program Services$135,003ProgramServicesAmt
Management And General$7,500ManagementAndGeneralAmt
Fundraising$7,500FundraisingAmt

Travel TravelGrp

FieldValueIRS element (for citing)
Total$34,722TotalAmt
Program Services$31,250ProgramServicesAmt
Management And General$1,736ManagementAndGeneralAmt
Fundraising$1,736FundraisingAmt

Conferences Meetings ConferencesMeetingsGrp

FieldValueIRS element (for citing)
Total$22,852TotalAmt
Fundraising$22,852FundraisingAmt

Interest InterestGrp

FieldValueIRS element (for citing)
Total$1,620TotalAmt
Program Services$1,458ProgramServicesAmt
Management And General$81ManagementAndGeneralAmt
Fundraising$81FundraisingAmt

Depreciation Depletion DepreciationDepletionGrp

FieldValueIRS element (for citing)
Total$3,713TotalAmt
Program Services$3,713ProgramServicesAmt

Insurance InsuranceGrp

FieldValueIRS element (for citing)
Total$3,700TotalAmt
Management And General$3,700ManagementAndGeneralAmt

Other Expenses OtherExpensesGrp (4 entries)

DescDescTotalTotalAmtProgram ServicesProgramServicesAmtManagement And GeneralManagementAndGeneralAmtFundraisingFundraisingAmt
STAFF MEALS AND EVENTS$80,948$72,853$4,048$4,047
PROFESSIONAL DEVELOP.$73,869$66,482$3,694$3,693
MAINTENANCE SUPPLIES$4,654$4,188$233$233
CLASSROOM SUPPLIES$291$291

Total Functional Expenses TotalFunctionalExpensesGrp

FieldValueIRS element (for citing)
Total$5,957,446TotalAmt
Program Services$5,054,448ProgramServicesAmt
Management And General$702,094ManagementAndGeneralAmt
Fundraising$200,904FundraisingAmt

Cash Non Interest Bearing CashNonInterestBearingGrp

FieldValueIRS element (for citing)
BOY$356,859BOYAmt
EOY$460,553EOYAmt

Savings And Temp Cash Invst SavingsAndTempCashInvstGrp

FieldValueIRS element (for citing)
BOY$1,907,797BOYAmt
EOY$3,224,120EOYAmt

Pledges And Grants Receivable PledgesAndGrantsReceivableGrp

FieldValueIRS element (for citing)
BOY$31,950BOYAmt
EOY$0EOYAmt

Prepaid Expenses Defrd Charges PrepaidExpensesDefrdChargesGrp

FieldValueIRS element (for citing)
BOY$3,841BOYAmt
EOY$5,000EOYAmt
FieldValueIRS element (for citing)
Land Bldg Equip Cost Or Other Bss$33,090LandBldgEquipCostOrOtherBssAmt
Land Bldg Equip Accum Deprec$3,713LandBldgEquipAccumDeprecAmt

Land Bldg Equip Basis Net LandBldgEquipBasisNetGrp

FieldValueIRS element (for citing)
BOY$0BOYAmt
EOY$29,377EOYAmt

Other Assets Total OtherAssetsTotalGrp

FieldValueIRS element (for citing)
BOY$100,000BOYAmt
EOY$101,706EOYAmt

Total Assets TotalAssetsGrp

FieldValueIRS element (for citing)
BOY$2,400,447BOYAmt
EOY$3,820,756EOYAmt

Accounts Payable Accr Expnss AccountsPayableAccrExpnssGrp

FieldValueIRS element (for citing)
BOY$77,280BOYAmt
EOY$24,138EOYAmt

Other Liabilities OtherLiabilitiesGrp

FieldValueIRS element (for citing)
BOY$385,795BOYAmt
EOY$776,799EOYAmt

Total Liabilities TotalLiabilitiesGrp

FieldValueIRS element (for citing)
BOY$463,075BOYAmt
EOY$800,937EOYAmt
FieldValueIRS element (for citing)
Organization Follows FASB117Yes (X)OrganizationFollowsFASB117Ind

No Donor Restriction Net Assets NoDonorRestrictionNetAssetsGrp

FieldValueIRS element (for citing)
BOY$790,950BOYAmt
EOY$1,308,902EOYAmt

Donor Restriction Net Assets DonorRestrictionNetAssetsGrp

FieldValueIRS element (for citing)
BOY$1,146,422BOYAmt
EOY$1,710,917EOYAmt

Total Net Assets Fund Balance TotalNetAssetsFundBalanceGrp

FieldValueIRS element (for citing)
BOY$1,937,372BOYAmt
EOY$3,019,819EOYAmt

Tot Liab Net Assets Fund Balance TotLiabNetAssetsFundBalanceGrp

FieldValueIRS element (for citing)
BOY$2,400,447BOYAmt
EOY$3,820,756EOYAmt
FieldValueIRS element (for citing)
Reconcilation Revenue Expnss$1,082,447ReconcilationRevenueExpnssAmt
Other Changes In Net Assets$0OtherChangesInNetAssetsAmt
Info In Schedule O Part XIIYes (X)InfoInScheduleOPartXIIInd
Method Of Accounting AccrualYes (X)MethodOfAccountingAccrualInd
Accountant Compile Or Review0AccountantCompileOrReviewInd
FS AuditedYes (1)FSAuditedInd

FS Audited Basis FSAuditedBasisGrp

FieldValueIRS element (for citing)
Separate Basis Fincl StmtYes (X)SeparateBasisFinclStmtInd
FieldValueIRS element (for citing)
Audit CommitteeYes (1)AuditCommitteeInd
Federal Grant Audit Required0FederalGrantAuditRequiredInd

Schedule A IRS990ScheduleA

FieldValueIRS element (for citing)
Public Organization170Yes (X)PublicOrganization170Ind

Gifts Grants Contri Rcvd170 GiftsGrantsContriRcvd170Grp

FieldValueIRS element (for citing)
Current Tax Year Minus4 Years$1,064,357CurrentTaxYearMinus4YearsAmt
Current Tax Year Minus3 Years$1,316,261CurrentTaxYearMinus3YearsAmt
Current Tax Year Minus2 Years$1,288,473CurrentTaxYearMinus2YearsAmt
Current Tax Year Minus1 Year$1,394,963CurrentTaxYearMinus1YearAmt
Current Tax Year$3,128,718CurrentTaxYearAmt
Total$8,192,772TotalAmt

Total Calendar Year170 TotalCalendarYear170Grp

FieldValueIRS element (for citing)
Current Tax Year Minus4 Years$1,064,357CurrentTaxYearMinus4YearsAmt
Current Tax Year Minus3 Years$1,316,261CurrentTaxYearMinus3YearsAmt
Current Tax Year Minus2 Years$1,288,473CurrentTaxYearMinus2YearsAmt
Current Tax Year Minus1 Year$1,394,963CurrentTaxYearMinus1YearAmt
Current Tax Year$3,128,718CurrentTaxYearAmt
Total$8,192,772TotalAmt
FieldValueIRS element (for citing)
Substantial Contributors Tot$5,934,356SubstantialContributorsTotAmt
Public Support Total170$2,258,416PublicSupportTotal170Amt

Gross Investment Income170 GrossInvestmentIncome170Grp

FieldValueIRS element (for citing)
Current Tax Year Minus4 Years$1,012CurrentTaxYearMinus4YearsAmt
Current Tax Year Minus3 Years$1,022CurrentTaxYearMinus3YearsAmt
Current Tax Year Minus2 Years$917CurrentTaxYearMinus2YearsAmt
Current Tax Year Minus1 Year$1,319CurrentTaxYearMinus1YearAmt
Current Tax Year$1,284CurrentTaxYearAmt
Total$5,554TotalAmt

Unrelated Business Net Incm170 UnrelatedBusinessNetIncm170Grp

FieldValueIRS element (for citing)
Current Tax Year Minus2 Years$77,075CurrentTaxYearMinus2YearsAmt
Total$77,075TotalAmt

Other Income170 OtherIncome170Grp

FieldValueIRS element (for citing)
Current Tax Year Minus3 Years$405CurrentTaxYearMinus3YearsAmt
Current Tax Year Minus2 Years$5,250CurrentTaxYearMinus2YearsAmt
Current Tax Year$18,960CurrentTaxYearAmt
Total$24,615TotalAmt
FieldValueIRS element (for citing)
Total Support$8,300,016TotalSupportAmt
Gross Receipts Rltd Activities$7,309,328GrossReceiptsRltdActivitiesAmt
Public Support CY1700.27210PublicSupportCY170Pct
Public Support PY1700.36640PublicSupportPY170Pct
Thirty Thr Pct Suprt Tests PY170Yes (X)ThirtyThrPctSuprtTestsPY170Ind

Form990 Schedule A Part VI Form990ScheduleAPartVIGrp (2 entries)

Form And Line ReferenceFormAndLineReferenceDescExplanationExplanationTxt
SCHEDULE A, PART II, LINE 10, EXPLANATION OF OTHER INCOME:OTHER INCOME - 2016 AMOUNT: $ 405. 2017 AMOUNT: $ 5,250. 2019 AMOUNT: $ 1,350. REFUNDS - 2019 AMOUNT: $ 17,610.
SCHEDULE A, PART VI, LIST OF UNUSUAL GRANTS:DESCRIPTION: DATE: 06/18/15 AMOUNT: 1000000.

Schedule B IRS990ScheduleB

Contributor Information ContributorInformationGrp

FieldValueIRS element (for citing)
ContributorRESTRICTEDContributorNum

Contributor Business Name ContributorBusinessName

FieldValueIRS element (for citing)
Business Name Line1RESTRICTEDBusinessNameLine1

Contributor US Address ContributorUSAddress

FieldValueIRS element (for citing)
Address Line1RESTRICTEDAddressLine1
Address Line2RESTRICTEDAddressLine2
CityRESTRICTEDCity
StateRESTRICTEDState
ZIP CodeRESTRICTEDZIPCode
FieldValueIRS element (for citing)
Total ContributionsRESTRICTEDTotalContributionsAmt

Schedule D IRS990ScheduleD

Equipment EquipmentGrp

FieldValueIRS element (for citing)
Other Cost Or Other Basis$2,316OtherCostOrOtherBasisAmt
Depreciation$386DepreciationAmt
Book Value$1,930BookValueAmt

Other Land Buildings OtherLandBuildingsGrp

FieldValueIRS element (for citing)
Other Cost Or Other Basis$30,774OtherCostOrOtherBasisAmt
Depreciation$3,327DepreciationAmt
Book Value$27,447BookValueAmt
FieldValueIRS element (for citing)
Total Book Value Land Buildings$29,377TotalBookValueLandBuildingsAmt

Other Liabilities Org OtherLiabilitiesOrgGrp (2 entries)

DescDescAmtAmt
DUE TO BROOKLYN PROSPECT SCHOOL$115,948
PAYCHECK PROTECTION PROGRAM LOAN$660,851
FieldValueIRS element (for citing)
Total Liability$776,799TotalLiabilityAmt
Footnote TextYes (X)FootnoteTextInd
Total Rev Etc Audited Fincl Stmt$7,039,893TotalRevEtcAuditedFinclStmtAmt
Revenue Not Reported$0RevenueNotReportedAmt
Revenue Subtotal$7,039,893RevenueSubtotalAmt
Revenue Not Reported Fincl Stmt$0RevenueNotReportedFinclStmtAmt
Total Revenue Per Form990$7,039,893TotalRevenuePerForm990Amt
Tot Expns Etc Audited Fincl Stmt$5,957,446TotExpnsEtcAuditedFinclStmtAmt
Expenses Not Reported$0ExpensesNotReportedAmt
Expenses Subtotal$5,957,446ExpensesSubtotalAmt
Expenses Not Rpt Fincl Stmt$0ExpensesNotRptFinclStmtAmt
Total Expenses Per Form990$5,957,446TotalExpensesPerForm990Amt

Supplemental Information Detail SupplementalInformationDetail

FieldValueIRS element (for citing)
Form And Line ReferencePART X, LINE 2:FormAndLineReferenceDesc
ExplanationPROSPECT RECOGNIZES THE EFFECT OF INCOME TAX POSITIONS ONLY IF THOSE POSITIONS ARE MORE LIKELY THAN NOT TO BE SUSTAINED. MANAGEMENT HAS DETERMINED THAT PROSPECT HAD NO UNCERTAIN TAX POSITIONS THAT WOULD REQUIRE FINANCIAL STATEMENT RECOGNITION OR DISCLOSURE. PROSPECT IS NO LONGER SUBJECT TO EXAMINATIONS BY THE APPLICABLE TAXING JURISDICTIONS FOR YEARS PRIOR TO JUNE 30, 2017.ExplanationTxt

Schedule I IRS990ScheduleI

FieldValueIRS element (for citing)
Grant Records MaintainedYes (1)GrantRecordsMaintainedInd

Recipient Table RecipientTable

Recipient Business Name RecipientBusinessName

FieldValueIRS element (for citing)
Business Name Line1BROOKLYN PROSPECT CHARTER SCHOOLBusinessNameLine1Txt

US Address USAddress

FieldValueIRS element (for citing)
Address Line1355 BRIDGE STREETAddressLine1Txt
CityBROOKLYNCityNm
State AbbreviationNYStateAbbreviationCd
ZIP11201ZIPCd
FieldValueIRS element (for citing)
Recipient EIN263206518RecipientEIN
IRC Section501(C)(3)IRCSectionDesc
Cash Grant$263,606CashGrantAmt
Purpose Of GrantGENERAL SUPPORT OF SCHOOL OPERATIONSPurposeOfGrantTxt
FieldValueIRS element (for citing)
Total501c3 Org1Total501c3OrgCnt
Total Other Org0TotalOtherOrgCnt

Supplemental Information Detail SupplementalInformationDetail

FieldValueIRS element (for citing)
Form And Line ReferencePART I, LINE 2:FormAndLineReferenceDesc
ExplanationTHE ORGANIZATION WAS ESTABLISHED TO RAISE FUNDS IN SUPPORT OF THE OPERATIONS OF BROOKLYN PROSPECT CHARTER SCHOOL. EACH YEAR, THE MONEY RAISED AS PART OF THE ORGANIZATION'S ANNUAL FUND IS DONATED TO BROOKLYN PROSPECT CHARTER SCHOOL TO BE SPENT ON GENERAL OPERATING EXPENSES OF THE SCHOOL. THE USE OF THE FUNDS IS MONITORED THROUGH THE CLOSE RELATIONSHIP BETWEEN THE ORGANIZATIONS.ExplanationTxt

Schedule J IRS990ScheduleJ

FieldValueIRS element (for citing)
Form990 Of Other OrganizationsYes (X)Form990OfOtherOrganizationsInd
Compensation SurveyYes (X)CompensationSurveyInd
Board Or Committee ApprovalYes (X)BoardOrCommitteeApprovalInd
Severance Payment0SeverancePaymentInd
Supplemental Nonqual Rtr Plan0SupplementalNonqualRtrPlanInd
Equity Based Comp Arrngm0EquityBasedCompArrngmInd
Comp Based On Revenue Of Flng Org0CompBasedOnRevenueOfFlngOrgInd
Comp Bsd On Rev Related Orgs0CompBsdOnRevRelatedOrgsInd
Comp Bsd Net Earns Flng Org0CompBsdNetEarnsFlngOrgInd
Comp Bsd Net Earns Rltd Orgs0CompBsdNetEarnsRltdOrgsInd
Any Non Fixed Payments0AnyNonFixedPaymentsInd
Initial Contract Exception0InitialContractExceptionInd

Rltd Org Officer Trst Key Empl RltdOrgOfficerTrstKeyEmplGrp (3 entries)

TitleTitleTxtBase Compensation Filing OrgBaseCompensationFilingOrgAmtCompensation Based On Rltd OrgsCompensationBasedOnRltdOrgsAmtBonus Filing OrganizationBonusFilingOrganizationAmountBonus Related OrganizationsBonusRelatedOrganizationsAmtOther Compensation Filing OrgOtherCompensationFilingOrgAmtOther Compensation Rltd OrgsOtherCompensationRltdOrgsAmtDeferred Compensation Flng OrgDeferredCompensationFlngOrgAmtDeferred Comp Rltd OrgsDeferredCompRltdOrgsAmtNontaxable Benefits Filing OrgNontaxableBenefitsFilingOrgAmtNontaxable Benefits Rltd OrgsNontaxableBenefitsRltdOrgsAmtTotal Compensation Filing OrgTotalCompensationFilingOrgAmtTotal Compensation Rltd OrgsTotalCompensationRltdOrgsAmtComp Report Prior990 Filing OrgCompReportPrior990FilingOrgAmtComp Report Prior990 Rltd OrgsCompReportPrior990RltdOrgsAmt
DANIEL RUBENSTEIN
CHIEF EXECUTIVE OFFICER$208,488$0$0$0$0$0$8,838$0$29,349$0$246,675$0$0$0
JONATHAN MCINTOSH
CHIEF ACADEMIC OFFICER$141,410$0$0$0$0$0$6,064$0$31,674$0$179,148$0$0$0
HILLARY PRINCE
CHIEF FINANCIAL OFFICER$143,793$0$0$0$0$0$2,963$0$17,404$0$164,160$0$0$0

Schedule O IRS990ScheduleO

Supplemental Information Detail SupplementalInformationDetail (5 entries)

Form And Line ReferenceFormAndLineReferenceDescExplanationExplanationTxt
FORM 990, PART VI, SECTION B, LINE 11BTHE FORM 990 IS REVIEWED BY MANAGEMENT AND A COMPLETE COPY OF THE RETURN IS PROVIDED TO THE ENTIRE BOARD OF TRUSTEES FOR APPROVAL PRIOR TO FILING WITH THE IRS.
FORM 990, PART VI, SECTION B, LINE 12CTHE ORGANIZATION HAS A CONFLICT OF INTEREST POLICY APPLICABLE TO TRUSTEES, OFFICERS, AND KEY PERSONS. UPON ELECTION OR APPOINTMENT, AND ON AN ANNUAL BASIS THEREAFTER, COVERED PERSONS MUST COMPLETE A CONFLICT OF INTEREST DISCLOSURE FORM AND MUST SIGN A STATEMENT, WHICH AFFIRMS THAT SUCH PERSON HAS RECEIVED A COPY OF THE CONFLICT OF INTEREST POLICY, HAS READ AND UNDERSTANDS THE POLICY, AND HAS AGREED TO COMPLY WITH THE POLICY. THE WRITTEN DISCLOSURE STATEMENTS ARE SUBMITTED TO AND REVIEWED BY THE CHAIRPERSON OF THE BOARD. IF A POTENTIAL CONFLICT ARISES BETWEEN ANNUAL UPDATES, THE PERSON INVOLVED HAS A DUTY TO PROMPTLY DISCLOSE ALL MATERIAL FACTS PERTAINING TO A POTENTIAL CONFLICT OF INTEREST. DETERMINATIONS REGARDING CONFLICT MATTERS ARE TO BE MADE BY THE BOARD OF TRUSTEES BY MAJORITY VOTE. AT THE TIME OF ANY DELIBERATION CONCERNING CONFLICTS OF INTEREST THE PERSON INVOLVED MUST NOT BE PRESENT, UNLESS ASKED TO PROVIDE ADDITIONAL INFORMATION, AND SUCH PERSON MAY NOT VOTE ON THE MATTER. THE EXISTENCE AND RESOLUTION OF ANY REPORTED CONFLICTS OF INTEREST ARE DOCUMENTED IN THE BOARD MINUTES.
FORM 990, PART VI, SECTION B, LINE 15COMPENSATION OF THE CHIEF EXECUTIVE OFFICER AND OTHER OFFICERS OF THE ORGANIZATION WAS BASED ON REVIEW OF COMPARABILITY DATA PROVIDED BY THE DEPARTMENT OF EDUCATION, INCLUDING SALARY SURVEYS. THE EXECUTIVE COMMITTEE AND THE BOARD OF TRUSTEES REVIEWED, DETERMINED AND LAST APPROVED COMPENSATION IN 2020. THE DISCUSSIONS AND DELIBERATIONS WERE DOCUMENTED IN THE COMMITTEE MINUTES.
FORM 990, PART VI, SECTION C, LINE 19THE ORGANIZATION MAKES ITS FORM 990, GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC UPON WRITTEN REQUEST AT 355 BRIDGE STREET, BROOKLYN, NY 11201, OR BY CALLING THE ORGANIZATION DIRECTLY AT (718)643-1086. IN ADDITION, THE FORM 990 IS AVAILABLE ON GUIDESTAR.ORG AND OTHER SIMILAR TYPES OF WEBSITES.
FORM 990, PART XII, LINE 2C:THE ORGANIZATION HAS A COMMITTEE THAT IS RESPONSIBLE FOR OVERSIGHT OF THE AUDIT OF ITS FINANCIAL STATEMENTS AND SELECTION OF AN INDEPENDENT ACCOUNTANT. THE PROCESS HAS NOT CHANGED FROM THE PRIOR YEAR.

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