PROSPECT SCHOOLS INC: Form 990, tax year 2018
View the entire original 990 at ProPublica ↗
- Organization
- PROSPECT SCHOOLS INC (EIN 33-1174065)
- Tax period
- 2018-07-01 to 2019-06-30
- Filed
- 2020-07-15
- IRS object ID
- 202011979349307701
- Schema version
- 2018v3.2
- 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
| Field | Value | IRS element (for citing) |
|---|---|---|
| Return | 2020-07-15T17:34:55-05:00 | ReturnTs |
| Tax Period End | 2019-06-30 | TaxPeriodEndDt |
Preparer Firm PreparerFirmGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Preparer Firm EIN | 271728945 | PreparerFirmEIN |
Preparer Firm Name PreparerFirmName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | PKF O'CONNOR DAVIES LLP | BusinessNameLine1Txt |
Preparer US Address PreparerUSAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 665 FIFTH AVENUE | AddressLine1Txt |
| City | NEW YORK | CityNm |
| State Abbreviation | NY | StateAbbreviationCd |
| ZIP | 10022 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Return Type | 990 | ReturnTypeCd |
| Tax Period Begin | 2018-07-01 | TaxPeriodBeginDt |
Filer Filer
| Field | Value | IRS element (for citing) |
|---|---|---|
| EIN | 331174065 | EIN |
Business Name BusinessName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | PROSPECT SCHOOLS INC | BusinessNameLine1Txt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Control | PROS | BusinessNameControlTxt |
| Phone | 7186431086 | PhoneNum |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 355 BRIDGE STREET | AddressLine1Txt |
| City | BROOKLYN | CityNm |
| State Abbreviation | NY | StateAbbreviationCd |
| ZIP | 11201 | ZIPCd |
Business Officer BusinessOfficerGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Person | KATE WALKER | PersonNm |
| Person Title | BOARD CHAIR | PersonTitleTxt |
| Phone | 7186431086 | PhoneNum |
| Signature | 2020-07-15 | SignatureDt |
| Discuss With Paid Preparer | Yes (1) | DiscussWithPaidPreparerInd |
Preparer Person PreparerPersonGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Preparer Person | GARRETT M HIGGINS | PreparerPersonNm |
| PTIN | P00543209 | PTIN |
| Phone | 2122862600 | PhoneNum |
| Preparation | 2020-07-15 | PreparationDt |
Filing Security Information FilingSecurityInformation
IP Address IPAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| I Pv4 Address | 68.175.34.111 | IPv4AddressTxt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| IP | 2020-07-15 | IPDt |
| IP Tm | 15:36:25 | IPTm |
| IP Timezone | ED | IPTimezoneCd |
| Filing License Type | P | FilingLicenseTypeCd |
| At Submission Creation Device Id | DA39A3EE5E6B4B0D3255BFEF95601890AFD80709 | AtSubmissionCreationDeviceId |
| At Submission Filing Device Id | B29914CEB47F2C50F9800CDE5B5AE22990D509AB | AtSubmissionFilingDeviceId |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Tax | 2018 | TaxYr |
| Build TS | 2021-01-29 14:40:06Z | BuildTS |
Form 990 IRS990
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Change | Yes (X) | AddressChangeInd |
| Principal Officer | KATE WALKER | PrincipalOfficerNm |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 355 BRIDGE STREET | AddressLine1Txt |
| City | BROOKLYN | CityNm |
| State Abbreviation | NY | StateAbbreviationCd |
| ZIP | 11201 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Gross Receipts | $4,852,713 | GrossReceiptsAmt |
| Group Return For Affiliates | 0 | GroupReturnForAffiliatesInd |
| Organization501c3 | Yes (X) | Organization501c3Ind |
| Website Address | N/A | WebsiteAddressTxt |
| Type Of Organization Corp | Yes (X) | TypeOfOrganizationCorpInd |
| Formation | 2007 | FormationYr |
| Legal Domicile State | NY | LegalDomicileStateCd |
| Activity Or Mission | THE 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. | ActivityOrMissionDesc |
| Voting Members Governing Body | 3 | VotingMembersGoverningBodyCnt |
| Voting Members Independent | 3 | VotingMembersIndependentCnt |
| Total Employee | 42 | TotalEmployeeCnt |
| Total Volunteers | 4 | TotalVolunteersCnt |
| Total Gross UBI | $0 | TotalGrossUBIAmt |
| Net Unrelated Bus Txbl Incm | $0 | NetUnrelatedBusTxblIncmAmt |
| PY Contributions Grants | $1,288,473 | PYContributionsGrantsAmt |
| CY Contributions Grants | $1,394,963 | CYContributionsGrantsAmt |
| PY Program Service Revenue | $0 | PYProgramServiceRevenueAmt |
| CY Program Service Revenue | $3,418,397 | CYProgramServiceRevenueAmt |
| PY Investment Income | $917 | PYInvestmentIncomeAmt |
| CY Investment Income | $1,319 | CYInvestmentIncomeAmt |
| PY Other Revenue | $82,325 | PYOtherRevenueAmt |
| CY Other Revenue | -$8,414 | CYOtherRevenueAmt |
| PY Total Revenue | $1,371,715 | PYTotalRevenueAmt |
| CY Total Revenue | $4,806,265 | CYTotalRevenueAmt |
| PY Grants And Similar Paid | $1,003,803 | PYGrantsAndSimilarPaidAmt |
| CY Grants And Similar Paid | $296,344 | CYGrantsAndSimilarPaidAmt |
| PY Benefits Paid To Members | $0 | PYBenefitsPaidToMembersAmt |
| CY Benefits Paid To Members | $0 | CYBenefitsPaidToMembersAmt |
| PY Salaries Comp Emp Bnft Paid | $45,078 | PYSalariesCompEmpBnftPaidAmt |
| CY Salaries Comp Emp Bnft Paid | $3,635,803 | CYSalariesCompEmpBnftPaidAmt |
| PY Total Prof Fndrsng Expns | $0 | PYTotalProfFndrsngExpnsAmt |
| CY Total Prof Fndrsng Expns | $0 | CYTotalProfFndrsngExpnsAmt |
| CY Total Fundraising Expense | $172,273 | CYTotalFundraisingExpenseAmt |
| PY Other Expenses | $126,541 | PYOtherExpensesAmt |
| CY Other Expenses | $745,485 | CYOtherExpensesAmt |
| PY Total Expenses | $1,175,422 | PYTotalExpensesAmt |
| CY Total Expenses | $4,677,632 | CYTotalExpensesAmt |
| PY Revenues Less Expenses | $196,293 | PYRevenuesLessExpensesAmt |
| CY Revenues Less Expenses | $128,633 | CYRevenuesLessExpensesAmt |
| Total Assets BOY | $1,824,874 | TotalAssetsBOYAmt |
| Total Assets EOY | $2,400,447 | TotalAssetsEOYAmt |
| Total Liabilities BOY | $16,135 | TotalLiabilitiesBOYAmt |
| Total Liabilities EOY | $463,075 | TotalLiabilitiesEOYAmt |
| Net Assets Or Fund Balances BOY | $1,808,739 | NetAssetsOrFundBalancesBOYAmt |
| Net Assets Or Fund Balances EOY | $1,937,372 | NetAssetsOrFundBalancesEOYAmt |
| Info In Schedule O Part III | Yes (X) | InfoInScheduleOPartIIIInd |
| Mission | THE 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 Srvc | Yes (1) | SignificantNewProgramSrvcInd |
| Significant Change | 0 | SignificantChangeInd |
| Expense | $3,412,521 | ExpenseAmt |
| Grant | $296,344 | GrantAmt |
| Revenue | $3,418,397 | RevenueAmt |
| Desc | PROSPECT SCHOOLS, INC. PROVIDE COMPREHENSIVE MANAGEMENT SERVICES TO THE BROOKLYN PROSPECT CHARTER SCHOOL AND OTHER POTENTIAL SCHOOLS IN ITS NETWORK. PROSPECT SCHOOLS, INC. PROVIDED SUPPORT TO BROOKLYN PROSPECT CHARTER SCHOOL TO COVER SPECIFIC PROGRAM EXPENSES. | Desc |
| Total Program Service Expenses | $3,412,521 | TotalProgramServiceExpensesAmt |
| Described In Section501c3 | Yes (1) | DescribedInSection501c3Ind |
| Schedule B Required | Yes (1) | ScheduleBRequiredInd |
| Political Campaign Acty | 0 | PoliticalCampaignActyInd |
| Lobbying Activities | 0 | LobbyingActivitiesInd |
| Subject To Proxy Tax | 0 | SubjectToProxyTaxInd |
| Donor Advised Fund | 0 | DonorAdvisedFundInd |
| Conservation Easements | 0 | ConservationEasementsInd |
| Collections Of Art | 0 | CollectionsOfArtInd |
| Credit Counseling | 0 | CreditCounselingInd |
| Temp Or Permanent Endowments | 0 | TempOrPermanentEndowmentsInd |
| Report Land Building Equipment | 0 | ReportLandBuildingEquipmentInd |
| Report Investments Other Sec | 0 | ReportInvestmentsOtherSecInd |
| Report Program Related Invst | 0 | ReportProgramRelatedInvstInd |
| Report Other Assets | 0 | ReportOtherAssetsInd |
| Report Other Liabilities | Yes (1) | ReportOtherLiabilitiesInd |
| Include FIN48 Footnote | Yes (1) | IncludeFIN48FootnoteInd |
| Independent Audit Fincl Stmt | Yes (1) | IndependentAuditFinclStmtInd |
| Consolidated Audit Fincl Stmt | 0 | ConsolidatedAuditFinclStmtInd |
| School Operating | 0 | SchoolOperatingInd |
| Foreign Office | 0 | ForeignOfficeInd |
| Foreign Activities | 0 | ForeignActivitiesInd |
| More Than5000 K To Org | 0 | MoreThan5000KToOrgInd |
| More Than5000 K To Individuals | 0 | MoreThan5000KToIndividualsInd |
| Professional Fundraising | 0 | ProfessionalFundraisingInd |
| Fundraising Activities | Yes (1) | FundraisingActivitiesInd |
| Gaming Activities | 0 | GamingActivitiesInd |
| Operate Hospital | 0 | OperateHospitalInd |
| Grants To Organizations | Yes (1) | GrantsToOrganizationsInd |
| Grants To Individuals | 0 | GrantsToIndividualsInd |
| Schedule J Required | 0 | ScheduleJRequiredInd |
| Tax Exempt Bonds | 0 | TaxExemptBondsInd |
| Engaged In Excess Benefit Trans | 0 | EngagedInExcessBenefitTransInd |
| PY Excess Benefit Trans | 0 | PYExcessBenefitTransInd |
| Loan Outstanding | 0 | LoanOutstandingInd |
| Grant To Related Person | 0 | GrantToRelatedPersonInd |
| Business Rln With Org Mem | 0 | BusinessRlnWithOrgMemInd |
| Business Rln With Fam Mem | 0 | BusinessRlnWithFamMemInd |
| Business Rln With Officer Ent | 0 | BusinessRlnWithOfficerEntInd |
| Deductible Non Cash Contri | 0 | DeductibleNonCashContriInd |
| Deductible Art Contribution | 0 | DeductibleArtContributionInd |
| Terminate Operations | 0 | TerminateOperationsInd |
| Partial Liquidation | 0 | PartialLiquidationInd |
| Disregarded Entity | 0 | DisregardedEntityInd |
| Related Entity | 0 | RelatedEntityInd |
| Related Organization Ctrl Ent | 0 | RelatedOrganizationCtrlEntInd |
| Trnsfr Exmpt Non Chrtbl Rltd Org | 0 | TrnsfrExmptNonChrtblRltdOrgInd |
| Activities Conducted Prtshp | 0 | ActivitiesConductedPrtshpInd |
| Schedule O Required | Yes (1) | ScheduleORequiredInd |
| IRP Document | 14 | IRPDocumentCnt |
| IRP Document W2 G | 0 | IRPDocumentW2GCnt |
| Employee | 42 | EmployeeCnt |
| Employment Tax Returns Filed | Yes (1) | EmploymentTaxReturnsFiledInd |
| Unrelated Bus Incm Over Limit | 0 | UnrelatedBusIncmOverLimitInd |
| Foreign Financial Account | 0 | ForeignFinancialAccountInd |
| Prohibited Tax Shelter Trans | 0 | ProhibitedTaxShelterTransInd |
| Taxable Party Notification | 0 | TaxablePartyNotificationInd |
| Nondeductible Contributions | 0 | NondeductibleContributionsInd |
| Quid Pro Quo Contributions | Yes (1) | QuidProQuoContributionsInd |
| Quid Pro Quo Contri Discl | Yes (1) | QuidProQuoContriDisclInd |
| Form8282 Property Disposed Of | 0 | Form8282PropertyDisposedOfInd |
| Rcv Fnds To Pay Prsnl Bnft Cntrct | 0 | RcvFndsToPayPrsnlBnftCntrctInd |
| Pay Premiums Prsnl Bnft Cntrct | 0 | PayPremiumsPrsnlBnftCntrctInd |
| Indoor Tanning Services | 0 | IndoorTanningServicesInd |
| Subj To Tax Rmnrtn Ex Prcht Pymt | 0 | SubjToTaxRmnrtnExPrchtPymtInd |
| Subject To Excs Tax Net Invst Inc | 0 | SubjectToExcsTaxNetInvstIncInd |
| Info In Schedule O Part VI | Yes (X) | InfoInScheduleOPartVIInd |
| Governing Body Voting Members | 3 | GoverningBodyVotingMembersCnt |
| Independent Voting Member | 3 | IndependentVotingMemberCnt |
| Family Or Business Rln | 0 | FamilyOrBusinessRlnInd |
| Delegation Of Mgmt Duties | 0 | DelegationOfMgmtDutiesInd |
| Change To Org Documents | 0 | ChangeToOrgDocumentsInd |
| Material Diversion Or Misuse | 0 | MaterialDiversionOrMisuseInd |
| Members Or Stockholders | 0 | MembersOrStockholdersInd |
| Election Of Board Members | 0 | ElectionOfBoardMembersInd |
| Decisions Subject To Approva | 0 | DecisionsSubjectToApprovaInd |
| Minutes Of Governing Body | Yes (1) | MinutesOfGoverningBodyInd |
| Minutes Of Committees | Yes (1) | MinutesOfCommitteesInd |
| Officer Mailing Address | 0 | OfficerMailingAddressInd |
| Local Chapters | 0 | LocalChaptersInd |
| Form990 Provided To Gvrn Body | Yes (1) | Form990ProvidedToGvrnBodyInd |
| Conflict Of Interest Policy | Yes (1) | ConflictOfInterestPolicyInd |
| Annual Disclosure Covered Prsn | Yes (1) | AnnualDisclosureCoveredPrsnInd |
| Regular Monitoring Enfrc | Yes (1) | RegularMonitoringEnfrcInd |
| Whistleblower Policy | Yes (1) | WhistleblowerPolicyInd |
| Document Retention Policy | Yes (1) | DocumentRetentionPolicyInd |
| Compensation Process CEO | Yes (1) | CompensationProcessCEOInd |
| Compensation Process Other | Yes (1) | CompensationProcessOtherInd |
| Investment In Joint Venture | 0 | InvestmentInJointVentureInd |
| States Where Copy Of Return Is Fld | NY | StatesWhereCopyOfReturnIsFldCd |
| Other Website | Yes (X) | OtherWebsiteInd |
| Upon Request | Yes (X) | UponRequestInd |
Books In Care Of Detail BooksInCareOfDetail
Business Name BusinessName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | HILLARY PRINCE | BusinessNameLine1Txt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Phone | 7186431086 | PhoneNum |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 355 BRIDGE STREET | AddressLine1Txt |
| City | BROOKLYN | CityNm |
| State Abbreviation | NY | StateAbbreviationCd |
| ZIP | 11201 | ZIPCd |
Form990 Part VII Section A Form990PartVIISectionAGrp (9 entries)
| TitleTitleTxt | Average Hours Per WeekAverageHoursPerWeekRt | Individual Trustee Or DirectorIndividualTrusteeOrDirectorInd | OfficerOfficerInd | Reportable Comp From OrgReportableCompFromOrgAmt | Reportable Comp From Rltd OrgReportableCompFromRltdOrgAmt | Other CompensationOtherCompensationAmt |
|---|---|---|---|---|---|---|
| KATE WALKER | ||||||
| BOARD CHAIR | 1.00 | Yes (X) | Yes (X) | $0 | $0 | $0 |
| KEVIN MOLE | ||||||
| TREASURER | 1.00 | Yes (X) | Yes (X) | $0 | $0 | $0 |
| ELIZABETH VARLEY CAMP | ||||||
| SECRETARY | 1.00 | Yes (X) | Yes (X) | $0 | $0 | $0 |
| PEARL ROCK KANE | ||||||
| BOARD MEMBER (THRU DEC 2018) | 1.00 | Yes (X) | $0 | $0 | $0 | |
| DANIEL RUBENSTEIN | ||||||
| EXECUTIVE DIRECTOR (FROM 7/01/18) | 50.00 | Yes (X) | $98,286 | $0 | $21,853 | |
| PENELOPE MARZULLI | ||||||
| DEPUTY DIRECTOR (FROM 7/01/18) | 50.00 | Yes (X) | $61,479 | $0 | $12,647 | |
| JONATHAN MCINTOSH | ||||||
| DIRECTOR OF ACADEMICS (FROM 7/01/18) | 50.00 | Yes (X) | $70,335 | $0 | $18,991 | |
| HILLARY PRINCE | ||||||
| DIRECTOR OF FINANCE (FROM 7/01/18) | 50.00 | Yes (X) | $52,846 | $0 | $14,238 | |
| KELLY RICHARDSON | ||||||
| DIRECTOR OF OPERATIONS (FROM 7/01/18) | 50.00 | Yes (X) | $30,279 | $0 | $7,304 | |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Reportable Comp From Org | $313,225 | TotalReportableCompFromOrgAmt |
| Tot Reportable Comp Rltd Org | $0 | TotReportableCompRltdOrgAmt |
| Total Other Compensation | $75,033 | TotalOtherCompensationAmt |
| Indiv Rcvd Greater Than100 K | 0 | IndivRcvdGreaterThan100KCnt |
| Former Ofcr Employees Listed | 0 | FormerOfcrEmployeesListedInd |
| Total Comp Greater Than150 K | 0 | TotalCompGreaterThan150KInd |
| Compensation From Other Srcs | 0 | CompensationFromOtherSrcsInd |
| Cntrct Rcvd Greater Than100 K | 0 | CntrctRcvdGreaterThan100KCnt |
| Fundraising | $112,783 | FundraisingAmt |
| Government Grants | $95,849 | GovernmentGrantsAmt |
| All Other Contributions | $1,186,331 | AllOtherContributionsAmt |
| Total Contributions | $1,394,963 | TotalContributionsAmt |
Program Service Revenue ProgramServiceRevenueGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Desc | MANAGEMENT FEES | Desc |
| Business | 611110 | BusinessCd |
| Total Revenue Column | $3,418,397 | TotalRevenueColumnAmt |
| Related Or Exempt Func Income | $3,418,397 | RelatedOrExemptFuncIncomeAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Program Service Revenue | $3,418,397 | TotalProgramServiceRevenueAmt |
Investment Income InvestmentIncomeGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $1,319 | TotalRevenueColumnAmt |
| Exclusion | $1,319 | ExclusionAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Fundraising Gross Income | $24,750 | FundraisingGrossIncomeAmt |
| Contri Rpt Fundraising Event | $112,783 | ContriRptFundraisingEventAmt |
| Fundraising Direct Expenses | $46,448 | FundraisingDirectExpensesAmt |
Net Incm From Fundraising Evt NetIncmFromFundraisingEvtGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | -$21,698 | TotalRevenueColumnAmt |
| Exclusion | -$21,698 | ExclusionAmt |
Other Revenue Misc OtherRevenueMiscGrp (2 entries)
| DescDesc | BusinessBusinessCd | Total Revenue ColumnTotalRevenueColumnAmt | ExclusionExclusionAmt |
|---|---|---|---|
| OTHER INCOME | 900099 | $8,121 | $8,121 |
| REFUNDS | 900099 | $5,163 | $5,163 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Revenue Total | $13,284 | OtherRevenueTotalAmt |
Total Revenue TotalRevenueGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $4,806,265 | TotalRevenueColumnAmt |
| Related Or Exempt Func Income | $3,418,397 | RelatedOrExemptFuncIncomeAmt |
| Unrelated Business Revenue | $0 | UnrelatedBusinessRevenueAmt |
| Exclusion | -$7,095 | ExclusionAmt |
Grants To Domestic Orgs GrantsToDomesticOrgsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $296,344 | TotalAmt |
| Program Services | $296,344 | ProgramServicesAmt |
Comp Current Ofcr Directors CompCurrentOfcrDirectorsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $779,520 | TotalAmt |
| Program Services | $584,860 | ProgramServicesAmt |
| Management And General | $161,606 | ManagementAndGeneralAmt |
| Fundraising | $33,054 | FundraisingAmt |
Other Salaries And Wages OtherSalariesAndWagesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $2,210,354 | TotalAmt |
| Program Services | $1,625,573 | ProgramServicesAmt |
| Management And General | $493,556 | ManagementAndGeneralAmt |
| Fundraising | $91,225 | FundraisingAmt |
Pension Plan Contributions PensionPlanContributionsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $75,515 | TotalAmt |
| Program Services | $64,187 | ProgramServicesAmt |
| Management And General | $7,552 | ManagementAndGeneralAmt |
| Fundraising | $3,776 | FundraisingAmt |
Other Employee Benefits OtherEmployeeBenefitsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $297,631 | TotalAmt |
| Program Services | $252,986 | ProgramServicesAmt |
| Management And General | $29,763 | ManagementAndGeneralAmt |
| Fundraising | $14,882 | FundraisingAmt |
Payroll Taxes PayrollTaxesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $272,783 | TotalAmt |
| Program Services | $231,866 | ProgramServicesAmt |
| Management And General | $27,278 | ManagementAndGeneralAmt |
| Fundraising | $13,639 | FundraisingAmt |
Fees For Services Legal FeesForServicesLegalGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $2,081 | TotalAmt |
| Management And General | $2,081 | ManagementAndGeneralAmt |
Fees For Services Accounting FeesForServicesAccountingGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $9,937 | TotalAmt |
| Management And General | $9,937 | ManagementAndGeneralAmt |
Fees For Services Other FeesForServicesOtherGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $111,013 | TotalAmt |
| Program Services | $64,321 | ProgramServicesAmt |
| Management And General | $42,908 | ManagementAndGeneralAmt |
| Fundraising | $3,784 | FundraisingAmt |
Advertising AdvertisingGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $59,436 | TotalAmt |
| Management And General | $59,436 | ManagementAndGeneralAmt |
Office Expenses OfficeExpensesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $97,860 | TotalAmt |
| Program Services | $76,498 | ProgramServicesAmt |
| Management And General | $17,026 | ManagementAndGeneralAmt |
| Fundraising | $4,336 | FundraisingAmt |
Information Technology InformationTechnologyGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $9,854 | TotalAmt |
| Program Services | $5,709 | ProgramServicesAmt |
| Management And General | $3,809 | ManagementAndGeneralAmt |
| Fundraising | $336 | FundraisingAmt |
Occupancy OccupancyGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $189,241 | TotalAmt |
| Management And General | $189,241 | ManagementAndGeneralAmt |
Travel TravelGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $17,507 | TotalAmt |
| Program Services | $4,365 | ProgramServicesAmt |
| Management And General | $13,142 | ManagementAndGeneralAmt |
Insurance InsuranceGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $2,850 | TotalAmt |
| Management And General | $2,850 | ManagementAndGeneralAmt |
Other Expenses OtherExpensesGrp (4 entries)
| DescDesc | TotalTotalAmt | Program ServicesProgramServicesAmt | Management And GeneralManagementAndGeneralAmt | FundraisingFundraisingAmt |
|---|---|---|---|---|
| PROFESSIONAL DEVELOPMEN | $139,231 | $118,346 | $13,923 | $6,962 |
| STAFF MEALS AND EVENTS | $88,464 | $79,618 | $8,846 | |
| MISCELLANEOUS | $12,428 | $3,102 | $9,326 | |
| UBIT TAX PAID | $5,583 | $4,746 | $558 | $279 |
Total Functional Expenses TotalFunctionalExpensesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $4,677,632 | TotalAmt |
| Program Services | $3,412,521 | ProgramServicesAmt |
| Management And General | $1,092,838 | ManagementAndGeneralAmt |
| Fundraising | $172,273 | FundraisingAmt |
Cash Non Interest Bearing CashNonInterestBearingGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $172,792 | BOYAmt |
| EOY | $356,859 | EOYAmt |
Savings And Temp Cash Invst SavingsAndTempCashInvstGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $1,645,507 | BOYAmt |
| EOY | $1,907,797 | EOYAmt |
Pledges And Grants Receivable PledgesAndGrantsReceivableGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $0 | BOYAmt |
| EOY | $31,950 | EOYAmt |
Prepaid Expenses Defrd Charges PrepaidExpensesDefrdChargesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $3,589 | BOYAmt |
| EOY | $3,841 | EOYAmt |
Other Assets Total OtherAssetsTotalGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $2,986 | BOYAmt |
| EOY | $100,000 | EOYAmt |
Total Assets TotalAssetsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $1,824,874 | BOYAmt |
| EOY | $2,400,447 | EOYAmt |
Accounts Payable Accr Expnss AccountsPayableAccrExpnssGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $16,135 | BOYAmt |
| EOY | $77,280 | EOYAmt |
Other Liabilities OtherLiabilitiesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $0 | BOYAmt |
| EOY | $385,795 | EOYAmt |
Total Liabilities TotalLiabilitiesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $16,135 | BOYAmt |
| EOY | $463,075 | EOYAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Organization Follows SFAS117 | Yes (X) | OrganizationFollowsSFAS117Ind |
Unrestricted Net Assets UnrestrictedNetAssetsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $489,673 | BOYAmt |
| EOY | $790,950 | EOYAmt |
Temporarily Rstr Net Assets TemporarilyRstrNetAssetsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $1,319,066 | BOYAmt |
| EOY | $1,146,422 | EOYAmt |
Total Net Assets Fund Balance TotalNetAssetsFundBalanceGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $1,808,739 | BOYAmt |
| EOY | $1,937,372 | EOYAmt |
Tot Liab Net Assets Fund Balance TotLiabNetAssetsFundBalanceGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $1,824,874 | BOYAmt |
| EOY | $2,400,447 | EOYAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Reconcilation Revenue Expnss | $128,633 | ReconcilationRevenueExpnssAmt |
| Other Changes In Net Assets | $0 | OtherChangesInNetAssetsAmt |
| Info In Schedule O Part XII | Yes (X) | InfoInScheduleOPartXIIInd |
| Method Of Accounting Accrual | Yes (X) | MethodOfAccountingAccrualInd |
| Accountant Compile Or Review | 0 | AccountantCompileOrReviewInd |
| FS Audited | Yes (1) | FSAuditedInd |
FS Audited Basis FSAuditedBasisGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Separate Basis Fincl Stmt | Yes (X) | SeparateBasisFinclStmtInd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Audit Committee | Yes (1) | AuditCommitteeInd |
| Federal Grant Audit Required | 0 | FederalGrantAuditRequiredInd |
Schedule A IRS990ScheduleA
| Field | Value | IRS element (for citing) |
|---|---|---|
| Public Organization170 | Yes (X) | PublicOrganization170Ind |
Gifts Grants Contri Rcvd170 GiftsGrantsContriRcvd170Grp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Current Tax Year Minus4 Years | $430,294 | CurrentTaxYearMinus4YearsAmt |
| Current Tax Year Minus3 Years | $1,064,357 | CurrentTaxYearMinus3YearsAmt |
| Current Tax Year Minus2 Years | $1,316,261 | CurrentTaxYearMinus2YearsAmt |
| Current Tax Year Minus1 Year | $1,288,473 | CurrentTaxYearMinus1YearAmt |
| Current Tax Year | $1,394,963 | CurrentTaxYearAmt |
| Total | $5,494,348 | TotalAmt |
Total Calendar Year170 TotalCalendarYear170Grp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Current Tax Year Minus4 Years | $430,294 | CurrentTaxYearMinus4YearsAmt |
| Current Tax Year Minus3 Years | $1,064,357 | CurrentTaxYearMinus3YearsAmt |
| Current Tax Year Minus2 Years | $1,316,261 | CurrentTaxYearMinus2YearsAmt |
| Current Tax Year Minus1 Year | $1,288,473 | CurrentTaxYearMinus1YearAmt |
| Current Tax Year | $1,394,963 | CurrentTaxYearAmt |
| Total | $5,494,348 | TotalAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Substantial Contributors Tot | $3,449,072 | SubstantialContributorsTotAmt |
| Public Support Total170 | $2,045,276 | PublicSupportTotal170Amt |
Gross Investment Income170 GrossInvestmentIncome170Grp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Current Tax Year Minus4 Years | $731 | CurrentTaxYearMinus4YearsAmt |
| Current Tax Year Minus3 Years | $1,012 | CurrentTaxYearMinus3YearsAmt |
| Current Tax Year Minus2 Years | $1,022 | CurrentTaxYearMinus2YearsAmt |
| Current Tax Year Minus1 Year | $917 | CurrentTaxYearMinus1YearAmt |
| Current Tax Year | $1,319 | CurrentTaxYearAmt |
| Total | $5,001 | TotalAmt |
Unrelated Business Net Incm170 UnrelatedBusinessNetIncm170Grp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Current Tax Year Minus1 Year | $77,075 | CurrentTaxYearMinus1YearAmt |
| Total | $77,075 | TotalAmt |
Other Income170 OtherIncome170Grp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Current Tax Year Minus2 Years | $405 | CurrentTaxYearMinus2YearsAmt |
| Current Tax Year Minus1 Year | $5,250 | CurrentTaxYearMinus1YearAmt |
| Total | $5,655 | TotalAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Support | $5,582,079 | TotalSupportAmt |
| Gross Receipts Rltd Activities | $3,418,397 | GrossReceiptsRltdActivitiesAmt |
| Public Support CY170 | 0.36640 | PublicSupportCY170Pct |
| Public Support PY170 | 0.37970 | PublicSupportPY170Pct |
| Thirty Thr Pct Suprt Tests CY170 | Yes (X) | ThirtyThrPctSuprtTestsCY170Ind |
Form990 Schedule A Part VI Form990ScheduleAPartVIGrp (2 entries)
| Form And Line ReferenceFormAndLineReferenceDesc | ExplanationExplanationTxt |
|---|---|
| SCHEDULE A, PART II, LINE 10, EXPLANATION OF OTHER INCOME: | OTHER INCOME - 2016 AMOUNT: $ 405. 2017 AMOUNT: $ 5,250. |
| SCHEDULE A, PART VI, LIST OF UNUSUAL GRANTS: | DESCRIPTION: DATE: 06/18/15 AMOUNT: 1000000. |
Schedule B IRS990ScheduleB
Contributor Information ContributorInformationGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Contributor | RESTRICTED | ContributorNum |
Contributor Business Name ContributorBusinessName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | RESTRICTED | BusinessNameLine1 |
Contributor US Address ContributorUSAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | RESTRICTED | AddressLine1 |
| Address Line2 | RESTRICTED | AddressLine2 |
| City | RESTRICTED | City |
| State | RESTRICTED | State |
| ZIP Code | RESTRICTED | ZIPCode |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Contributions | RESTRICTED | TotalContributionsAmt |
Schedule D IRS990ScheduleD
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Book Value Land Buildings | $0 | TotalBookValueLandBuildingsAmt |
Other Liabilities Org OtherLiabilitiesOrgGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Desc | DUE TO BROOKLYN PROSPECT | Desc |
| Amt | $385,795 | Amt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Liability | $385,795 | TotalLiabilityAmt |
| Footnote Text | Yes (X) | FootnoteTextInd |
| Total Rev Etc Audited Fincl Stmt | $4,852,713 | TotalRevEtcAuditedFinclStmtAmt |
| Other Revenue | $46,448 | OtherRevenueAmt |
| Revenue Not Reported | $46,448 | RevenueNotReportedAmt |
| Revenue Subtotal | $4,806,265 | RevenueSubtotalAmt |
| Revenue Not Reported Fincl Stmt | $0 | RevenueNotReportedFinclStmtAmt |
| Total Revenue Per Form990 | $4,806,265 | TotalRevenuePerForm990Amt |
| Tot Expns Etc Audited Fincl Stmt | $4,724,080 | TotExpnsEtcAuditedFinclStmtAmt |
| Other Expenses Included | $46,448 | OtherExpensesIncludedAmt |
| Expenses Not Reported | $46,448 | ExpensesNotReportedAmt |
| Expenses Subtotal | $4,677,632 | ExpensesSubtotalAmt |
| Expenses Not Rpt Fincl Stmt | $0 | ExpensesNotRptFinclStmtAmt |
| Total Expenses Per Form990 | $4,677,632 | TotalExpensesPerForm990Amt |
Supplemental Information Detail SupplementalInformationDetail (3 entries)
| Form And Line ReferenceFormAndLineReferenceDesc | ExplanationExplanationTxt |
|---|---|
| PART X, LINE 2: | PROSPECT 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, 2015. |
| PART XI, LINE 2D - OTHER ADJUSTMENTS: | SPECIAL EVENT EXPENSES REPORTED ON PART VIII, LINE 8B: 46,448. |
| PART XII, LINE 2D - OTHER ADJUSTMENTS: | SPECIAL EVENT EXPENSES REPORTED ON PART VIII, LINE 8B: 46,448. |
Schedule G IRS990ScheduleG
Fundraising Event Information FundraisingEventInformationGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Event1 | SPRING GALA | Event1Nm |
| Gross Receipts Event1 | $137,533 | GrossReceiptsEvent1Amt |
| Charitable Contri Event1 | $112,783 | CharitableContriEvent1Amt |
| Gross Revenue Event1 | $24,750 | GrossRevenueEvent1Amt |
| Non Cash Prizes Event1 | $700 | NonCashPrizesEvent1Amt |
| Rent Facility Costs Event1 | $8,194 | RentFacilityCostsEvent1Amt |
| Food And Beverage Event1 | $15,467 | FoodAndBeverageEvent1Amt |
| Entertainment Event1 | $515 | EntertainmentEvent1Amt |
| Other Direct Expenses Event1 | $21,572 | OtherDirectExpensesEvent1Amt |
| Gross Receipts Total | $137,533 | GrossReceiptsTotalAmt |
| Charitable Contributions Tot | $112,783 | CharitableContributionsTotAmt |
| Gross Revenue Total Events | $24,750 | GrossRevenueTotalEventsAmt |
| Non Cash Prizes Total Events | $700 | NonCashPrizesTotalEventsAmt |
| Rent Fclty Costs Total Events | $8,194 | RentFcltyCostsTotalEventsAmt |
| Food And Beverage Total Events | $15,467 | FoodAndBeverageTotalEventsAmt |
| Entertainment Total Events | $515 | EntertainmentTotalEventsAmt |
| Oth Direct Expnss Total Events | $21,572 | OthDirectExpnssTotalEventsAmt |
| Direct Expense Summary Events | $46,448 | DirectExpenseSummaryEventsAmt |
| Net Income Summary | -$21,698 | NetIncomeSummaryAmt |
Schedule I IRS990ScheduleI
| Field | Value | IRS element (for citing) |
|---|---|---|
| Grant Records Maintained | Yes (1) | GrantRecordsMaintainedInd |
Recipient Table RecipientTable
Recipient Business Name RecipientBusinessName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | BROOKLYN PROSPECT CHARTER SCHOOL | BusinessNameLine1Txt |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 3002 FORT HAMILTON PARKWAY | AddressLine1Txt |
| City | BROOKLYN | CityNm |
| State Abbreviation | NY | StateAbbreviationCd |
| ZIP | 11218 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Recipient EIN | 263206518 | RecipientEIN |
| IRC Section | 501(C)(3) | IRCSectionDesc |
| Cash Grant | $296,344 | CashGrantAmt |
| Purpose Of Grant | GENERAL SUPPORT OF SCHOOL OPERATIONS | PurposeOfGrantTxt |
Supplemental Information Detail SupplementalInformationDetail
| Field | Value | IRS element (for citing) |
|---|---|---|
| Form And Line Reference | PART I, LINE 2: | FormAndLineReferenceDesc |
| Explanation | THE 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 ORGANIZATION DOES NOT PROVIDE GRANTS OR ASSISTANCE TO ANY ORGANIZATIONS OTHER THAN BROOKLYN PROSPECT CHARTER SCHOOL. | ExplanationTxt |
Schedule J IRS990ScheduleJ
| Field | Value | IRS element (for citing) |
|---|---|---|
| Form990 Of Other Organizations | Yes (X) | Form990OfOtherOrganizationsInd |
| Board Or Committee Approval | Yes (X) | BoardOrCommitteeApprovalInd |
| Severance Payment | 0 | SeverancePaymentInd |
| Supplemental Nonqual Rtr Plan | 0 | SupplementalNonqualRtrPlanInd |
| Equity Based Comp Arrngm | 0 | EquityBasedCompArrngmInd |
| Comp Based On Revenue Of Flng Org | 0 | CompBasedOnRevenueOfFlngOrgInd |
| Comp Bsd On Rev Related Orgs | 0 | CompBsdOnRevRelatedOrgsInd |
| Comp Bsd Net Earns Flng Org | 0 | CompBsdNetEarnsFlngOrgInd |
| Comp Bsd Net Earns Rltd Orgs | 0 | CompBsdNetEarnsRltdOrgsInd |
| Any Non Fixed Payments | 0 | AnyNonFixedPaymentsInd |
| Initial Contract Exception | 0 | InitialContractExceptionInd |
Supplemental Information Detail SupplementalInformationDetail
| Field | Value | IRS element (for citing) |
|---|---|---|
| Form And Line Reference | PART I, LINE 3 | FormAndLineReferenceDesc |
| Explanation | COMPENSATION OF THE ORGANIZATIONS OFFICERS IS BASED ON COMPARABLE DATA PROVIDED FROM THE DEPARTMENT OF EDUCATION. THE EXECUTIVE COMMITTEE AND THE BOARD OF DIRECTORS REVIEWED, DETERMINED AND LAST APPROVED COMPENSATION IN 2018. ALL DISCUSSION AND DELIBERATION WAS DOCUMENTED IN THE MINUTES OF THE GOVERNING BOARD. | ExplanationTxt |
Schedule O IRS990ScheduleO
Supplemental Information Detail SupplementalInformationDetail (6 entries)
| Form And Line ReferenceFormAndLineReferenceDesc | ExplanationExplanationTxt |
|---|---|
| FORM 990, PART III, LINE 2 | PROSPECT SCHOOLS, INC. AMENDED ITS LEGAL PURPOSE TO PROVIDE COMPREHENSIVE MANAGEMENT SERVICES TO THE SCHOOL AND OTHER POTENTIAL SCHOOLS IN ITS NETWORK. |
| FORM 990, PART VI, SECTION B, LINE 11B | FORM 990 IS REVIEWED BY THE BOARD OF TRUSTEES FOR APPROVAL. IF CHANGES ARE REQUIRED, THE ORGANIZATION WILL THEN FORWARD THE FORM 990 TO THE AUDITING FIRM AND A FINAL VERSION WILL BE DISTRIBUTED TO ALL BOARD MEMBERS PRIOR TO THE IRS SUBMISSION. |
| FORM 990, PART VI, SECTION B, LINE 12C | ALL OFFICERS, TRUSTEES AND KEY EMPLOYEES ARE REQUIRED TO DISCLOSE IN WRITING TO THE BOARD OF TRUSTEES ANNUALLY ANY POTENTIAL CONFLICTS OF INTEREST. IF A POTENTIAL CONFLICT WERE TO ARISE, THE INTERESTED PERSON SHALL EXCUSE THEMSELVES FROM BOARD DISCUSSION AND ABSTAIN FROM VOTING ON THE POTENTIAL CONFLICT. EMPLOYEES HAVE AN OBLIGATION TO CONDUCT THEMSELVES WITHIN GUIDELINES THAT PREVENT ACTUAL OR POTENTIAL CONFLICTS OF INTEREST FROM ARISING. THIS POLICY ESTABLISHES ONLY THE FRAMEWORK WITHIN WHICH THE SCHOOL INTENDS TO OPERATE. THE PURPOSE OF THESE GUIDELINES IS TO PROVIDE GENERAL DIRECTION SO THAT EMPLOYEES CAN SEEK FURTHER CLARIFICATION ON ISSUES RELATED TO THE SUBJECT OF ACCEPTABLE STANDARDS OF OPERATION. CONTACT HUMAN RESOURCES FOR MORE INFORMATION OR QUESTIONS ABOUT CONFLICTS OF INTEREST. AN ACTUAL OR POTENTIAL CONFLICT OF INTEREST OCCURS WHEN AN EMPLOYEE IS IN A POSITION TO INFLUENCE A DECISION THAT MAY RESULT IN A PERSONAL GAIN FOR THAT EMPLOYEE OR FOR A RELATIVE AS A RESULT OF THE SCHOOL'S BUSINESS DEALINGS. FOR THE PURPOSES OF THIS POLICY, A RELATIVE IS ANY PERSON WHO IS RELATED BY BLOOD OR MARRIAGE, OR WHOSE RELATIONSHIP WITH THE EMPLOYEE IS SIMILAR TO THAT OF PERSONS WHO ARE RELATED BY BLOOD OR MARRIAGE. NO "PRESUMPTION OF GUILT" IS CREATED BY THE MERE EXISTENCE OF A RELATIONSHIP WITH OUTSIDE FIRMS. HOWEVER, IF EMPLOYEES HAVE ANY INFLUENCE ON TRANSACTIONS INVOLVING PURCHASES, CONTRACTS, OR LEASES, IT IS IMPERATIVE THAT THEY DISCLOSE TO THE EXECUTIVE DIRECTOR OF THE SCHOOL AS SOON AS POSSIBLE THE EXISTENCE OF ANY ACTUAL OR POTENTIAL CONFLICT OF INTEREST SO THAT SAFEGUARDS CAN BE ESTABLISHED TO PROTECT ALL PARTIES. DELIBERATION AND DECISIONS ARE DOCUMENTED IN THE MINUTES OF THE MEETING. |
| FORM 990, PART VI, SECTION B, LINE 15 | COMPENSATION OF THE ORGANIZATIONS OFFICERS AND KEY EMPLOYEES IS BASED ON COMPARABLE DATA PROVIDED FROM THE DEPARTMENT OF EDUCATION. THE EXECUTIVE COMMITTEE AND THE BOARD OF DIRECTORS REVIEWED, DETERMINED AND LAST APPROVED COMPENSATION IN 2018. ALL DISCUSSION AND DELIBERATION WAS DOCUMENTED IN THE MINUTES OF THE GOVERNING BOARD. |
| 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 AT 3002 FORT HAMILTON PARKWAY, BROOKLYN, NY 11218, OR BY CALLING THE ORGANIZATION DIRECTLY AT (347)-889-7041. |
| FORM 990, PART XII, LINE 2C: | THE SCHOOL HAS AN AUDIT/FINANCE COMMITTEE THAT IS RESPONSIBLE FOR OVERSIGHT OF THE AUDIT AND SELECTION OF THE INDEPENDENT AUDITOR. THE PROCESS HAS NOT CHANGED FROM THE PRIOR YEAR. |
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