2020-07-15T17:34:55-05:00 2019-06-30 271728945 PKF O'CONNOR DAVIES LLP 665 FIFTH AVENUE NEW YORK NY 10022 990 2018-07-01 331174065 PROSPECT SCHOOLS INC PROS 7186431086 355 BRIDGE STREET BROOKLYN NY 11201 KATE WALKER BOARD CHAIR 7186431086 2020-07-15 1 GARRETT M HIGGINS P00543209 2122862600 2020-07-15 68.175.34.111 2020-07-15 15:36:25 ED P DA39A3EE5E6B4B0D3255BFEF95601890AFD80709 B29914CEB47F2C50F9800CDE5B5AE22990D509AB 2018 2021-01-29 14:40:06Z X KATE WALKER 355 BRIDGE STREET BROOKLYN NY 11201 4852713 0 X N/A X 2007 NY 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. 3 3 42 4 0 0 1288473 1394963 0 3418397 917 1319 82325 -8414 1371715 4806265 1003803 296344 0 0 45078 3635803 0 0 172273 126541 745485 1175422 4677632 196293 128633 1824874 2400447 16135 463075 1808739 1937372 X 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 1 0 3412521 296344 3418397 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. 3412521 1 1 0 0 0 0 0 0 0 0 0 0 0 0 1 1 1 0 0 0 0 0 0 0 1 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 14 0 42 1 0 0 0 0 0 1 1 0 0 0 0 0 0 X 3 3 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 NY X X HILLARY PRINCE 7186431086 355 BRIDGE STREET BROOKLYN NY 11201 KATE WALKER BOARD CHAIR 1.00 X X 0 0 0 KEVIN MOLE TREASURER 1.00 X X 0 0 0 ELIZABETH VARLEY CAMP SECRETARY 1.00 X X 0 0 0 PEARL ROCK KANE BOARD MEMBER (THRU DEC 2018) 1.00 X 0 0 0 DANIEL RUBENSTEIN EXECUTIVE DIRECTOR (FROM 7/01/18) 50.00 X 98286 0 21853 PENELOPE MARZULLI DEPUTY DIRECTOR (FROM 7/01/18) 50.00 X 61479 0 12647 JONATHAN MCINTOSH DIRECTOR OF ACADEMICS (FROM 7/01/18) 50.00 X 70335 0 18991 HILLARY PRINCE DIRECTOR OF FINANCE (FROM 7/01/18) 50.00 X 52846 0 14238 KELLY RICHARDSON DIRECTOR OF OPERATIONS (FROM 7/01/18) 50.00 X 30279 0 7304 313225 0 75033 0 0 0 0 0 112783 95849 1186331 1394963 MANAGEMENT FEES 611110 3418397 3418397 3418397 1319 1319 24750 112783 46448 -21698 -21698 OTHER INCOME 900099 8121 8121 REFUNDS 900099 5163 5163 13284 4806265 3418397 0 -7095 296344 296344 779520 584860 161606 33054 2210354 1625573 493556 91225 75515 64187 7552 3776 297631 252986 29763 14882 272783 231866 27278 13639 2081 2081 9937 9937 111013 64321 42908 3784 59436 59436 97860 76498 17026 4336 9854 5709 3809 336 189241 189241 17507 4365 13142 2850 2850 PROFESSIONAL DEVELOPMEN 139231 118346 13923 6962 STAFF MEALS AND EVENTS 88464 79618 8846 MISCELLANEOUS 12428 3102 9326 UBIT TAX PAID 5583 4746 558 279 4677632 3412521 1092838 172273 172792 356859 1645507 1907797 0 31950 3589 3841 2986 100000 1824874 2400447 16135 77280 0 385795 16135 463075 X 489673 790950 1319066 1146422 1808739 1937372 1824874 2400447 128633 0 X X 0 1 X 1 0 X 430294 1064357 1316261 1288473 1394963 5494348 430294 1064357 1316261 1288473 1394963 5494348 3449072 2045276 731 1012 1022 917 1319 5001 77075 77075 405 5250 5655 5582079 3418397 0.36640 0.37970 X 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. RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 DUE TO BROOKLYN PROSPECT 385795 385795 X 4852713 46448 46448 4806265 0 4806265 4724080 46448 46448 4677632 0 4677632 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. SPRING GALA 137533 112783 24750 700 8194 15467 515 21572 137533 112783 24750 700 8194 15467 515 21572 46448 -21698 1 BROOKLYN PROSPECT CHARTER SCHOOL 3002 FORT HAMILTON PARKWAY BROOKLYN NY 11218 263206518 501(C)(3) 296344 GENERAL SUPPORT OF SCHOOL OPERATIONS PART I, LINE 2: 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. X X 0 0 0 0 0 0 0 0 0 PART I, LINE 3 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. 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.