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PROSPECT SCHOOLS INC: Form 990, tax year 2017

View the entire original 990 at ProPublica ↗

Organization
PROSPECT SCHOOLS INC (EIN 33-1174065)
Tax period
2017-07-01 to 2018-06-30
Filed
2019-05-21
IRS object ID
201911419349301461
Schema version
2017v2.3
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)
Return2019-05-21T16:17:30-05:00ReturnTs
Tax Period End2018-06-30TaxPeriodEndDt

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 Line1665 FIFTH AVENUEAddressLine1Txt
CityNEW YORKCityNm
State AbbreviationNYStateAbbreviationCd
ZIP10022ZIPCd
FieldValueIRS element (for citing)
Return Type990ReturnTypeCd
Tax Period Begin2017-07-01TaxPeriodBeginDt

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
Phone3478897041PhoneNum

US Address USAddress

FieldValueIRS element (for citing)
Address Line13002 FORT HAMILTON PARKWAYAddressLine1Txt
CityBROOKLYNCityNm
State AbbreviationNYStateAbbreviationCd
ZIP11218ZIPCd

Business Officer BusinessOfficerGrp

FieldValueIRS element (for citing)
PersonLUYEN CHOUPersonNm
Person TitleBOARD CHAIRPersonTitleTxt
Phone3478897041PhoneNum
Signature2019-05-21SignatureDt
Discuss With Paid PreparerYes (1)DiscussWithPaidPreparerInd

Preparer Person PreparerPersonGrp

FieldValueIRS element (for citing)
Preparer PersonGARRETT M HIGGINSPreparerPersonNm
PTINP00543209PTIN
Phone2122862600PhoneNum
Preparation2019-05-20PreparationDt

Filing Security Information FilingSecurityInformation

IP Address IPAddress

FieldValueIRS element (for citing)
I Pv4 Address4.15.211.182IPv4AddressTxt
FieldValueIRS element (for citing)
IP2019-05-21IPDt
IP Tm14:40:36IPTm
IP TimezoneEDIPTimezoneCd
Filing License TypePFilingLicenseTypeCd
At Submission Creation Device IdDA39A3EE5E6B4B0D3255BFEF95601890AFD80709AtSubmissionCreationDeviceId
At Submission Filing Device IdB29914CEB47F2C50F9800CDE5B5AE22990D509ABAtSubmissionFilingDeviceId
FieldValueIRS element (for citing)
Tax2017TaxYr
Build TS2019-02-21 02:37:17ZBuildTS

Form 990 IRS990

FieldValueIRS element (for citing)
Principal OfficerLUYEN CHOUPrincipalOfficerNm

US Address USAddress

FieldValueIRS element (for citing)
Address Line13002 FORT HAMILTON PARKWAYAddressLine1Txt
CityBROOKLYNCityNm
State AbbreviationNYStateAbbreviationCd
ZIP11218ZIPCd
FieldValueIRS element (for citing)
Gross Receipts$1,404,434GrossReceiptsAmt
Group Return For Affiliates0GroupReturnForAffiliatesInd
Organization501c3Yes (X)Organization501c3Ind
Website AddressN/AWebsiteAddressTxt
Type Of Organization CorpYes (X)TypeOfOrganizationCorpInd
Formation2007FormationYr
Legal Domicile StateNYLegalDomicileStateCd
Activity Or MissionTHE ORGANIZATION'S PURPOSE IS TO RAISE FUNDS IN SUPPORT OF NEW YORK CHARTER SCHOOLS.ActivityOrMissionDesc
Voting Members Governing Body3VotingMembersGoverningBodyCnt
Voting Members Independent2VotingMembersIndependentCnt
Total Employee1TotalEmployeeCnt
Total Volunteers300TotalVolunteersCnt
Total Gross UBI$0TotalGrossUBIAmt
Net Unrelated Bus Txbl Incm$0NetUnrelatedBusTxblIncmAmt
PY Contributions Grants$1,316,261PYContributionsGrantsAmt
CY Contributions Grants$1,288,473CYContributionsGrantsAmt
PY Program Service Revenue$0PYProgramServiceRevenueAmt
CY Program Service Revenue$0CYProgramServiceRevenueAmt
PY Investment Income$1,022PYInvestmentIncomeAmt
CY Investment Income$917CYInvestmentIncomeAmt
PY Other Revenue-$14,708PYOtherRevenueAmt
CY Other Revenue$82,325CYOtherRevenueAmt
PY Total Revenue$1,302,575PYTotalRevenueAmt
CY Total Revenue$1,371,715CYTotalRevenueAmt
PY Grants And Similar Paid$1,073,219PYGrantsAndSimilarPaidAmt
CY Grants And Similar Paid$1,003,803CYGrantsAndSimilarPaidAmt
PY Benefits Paid To Members$0PYBenefitsPaidToMembersAmt
CY Benefits Paid To Members$0CYBenefitsPaidToMembersAmt
PY Salaries Comp Emp Bnft Paid$0PYSalariesCompEmpBnftPaidAmt
CY Salaries Comp Emp Bnft Paid$45,078CYSalariesCompEmpBnftPaidAmt
PY Total Prof Fndrsng Expns$0PYTotalProfFndrsngExpnsAmt
CY Total Prof Fndrsng Expns$0CYTotalProfFndrsngExpnsAmt
CY Total Fundraising Expense$26,382CYTotalFundraisingExpenseAmt
PY Other Expenses$113,713PYOtherExpensesAmt
CY Other Expenses$126,541CYOtherExpensesAmt
PY Total Expenses$1,186,932PYTotalExpensesAmt
CY Total Expenses$1,175,422CYTotalExpensesAmt
PY Revenues Less Expenses$115,643PYRevenuesLessExpensesAmt
CY Revenues Less Expenses$196,293CYRevenuesLessExpensesAmt
Total Assets BOY$1,779,890TotalAssetsBOYAmt
Total Assets EOY$1,824,874TotalAssetsEOYAmt
Total Liabilities BOY$167,444TotalLiabilitiesBOYAmt
Total Liabilities EOY$16,135TotalLiabilitiesEOYAmt
Net Assets Or Fund Balances BOY$1,612,446NetAssetsOrFundBalancesBOYAmt
Net Assets Or Fund Balances EOY$1,808,739NetAssetsOrFundBalancesEOYAmt
MissionTHE ORGANIZATION'S PURPOSE IS TO RAISE FUNDS IN SUPPORT OF NEW YORK CHARTER SCHOOLS.MissionDesc
Significant New Program Srvc0SignificantNewProgramSrvcInd
Significant Change0SignificantChangeInd
Expense$1,049,063ExpenseAmt
Grant$1,003,803GrantAmt
DescPROVIDED SUPPORT TO BROOKLYN PROSPECT CHARTER SCHOOL TO COVER SPECIFIC PROGRAM EXPENSES.Desc
Total Program Service Expenses$1,049,063TotalProgramServiceExpensesAmt
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
Temp Or Permanent Endowments0TempOrPermanentEndowmentsInd
Report Land Building Equipment0ReportLandBuildingEquipmentInd
Report Investments Other Sec0ReportInvestmentsOtherSecInd
Report Program Related Invst0ReportProgramRelatedInvstInd
Report Other Assets0ReportOtherAssetsInd
Report Other Liabilities0ReportOtherLiabilitiesInd
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 ActivitiesYes (1)FundraisingActivitiesInd
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 With Officer Ent0BusinessRlnWithOfficerEntInd
Deductible Non Cash Contri0DeductibleNonCashContriInd
Deductible Art Contribution0DeductibleArtContributionInd
Terminate Operations0TerminateOperationsInd
Partial Liquidation0PartialLiquidationInd
Disregarded Entity0DisregardedEntityInd
Related EntityYes (1)RelatedEntityInd
Related Organization Ctrl Ent0RelatedOrganizationCtrlEntInd
Trnsfr Exmpt Non Chrtbl Rltd Org0TrnsfrExmptNonChrtblRltdOrgInd
Activities Conducted Prtshp0ActivitiesConductedPrtshpInd
Schedule O RequiredYes (1)ScheduleORequiredInd
IRP Document27IRPDocumentCnt
IRP Document W2 G0IRPDocumentW2GCnt
Employee1EmployeeCnt
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 ContributionsYes (1)QuidProQuoContributionsInd
Quid Pro Quo Contri DisclYes (1)QuidProQuoContriDisclInd
Form8282 Property Disposed Of0Form8282PropertyDisposedOfInd
Rcv Fnds To Pay Prsnl Bnft Cntrct0RcvFndsToPayPrsnlBnftCntrctInd
Pay Premiums Prsnl Bnft Cntrct0PayPremiumsPrsnlBnftCntrctInd
Indoor Tanning Services0IndoorTanningServicesInd
Info In Schedule O Part VIYes (X)InfoInScheduleOPartVIInd
Governing Body Voting Members3GoverningBodyVotingMembersCnt
Independent Voting Member2IndependentVotingMemberCnt
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 Committees0MinutesOfCommitteesInd
Officer Mailing Address0OfficerMailingAddressInd
Local Chapters0LocalChaptersInd
Form990 Provided To Gvrn BodyYes (1)Form990ProvidedToGvrnBodyInd
Conflict Of Interest Policy0ConflictOfInterestPolicyInd
Whistleblower Policy0WhistleblowerPolicyInd
Document Retention PolicyYes (1)DocumentRetentionPolicyInd
Compensation Process CEO0CompensationProcessCEOInd
Compensation Process Other0CompensationProcessOtherInd
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)
Phone3478897041PhoneNum

US Address USAddress

FieldValueIRS element (for citing)
Address Line13002 FORT HAMILTON PARKWAYAddressLine1Txt
CityBROOKLYNCityNm
State AbbreviationNYStateAbbreviationCd
ZIP11218ZIPCd

Form990 Part VII Section A Form990PartVIISectionAGrp (3 entries)

TitleTitleTxtAverage Hours Per WeekAverageHoursPerWeekRtAverage Hours Per Week Rltd OrgAverageHoursPerWeekRltdOrgRtIndividual Trustee Or DirectorIndividualTrusteeOrDirectorIndOfficerOfficerIndReportable Comp From OrgReportableCompFromOrgAmtReportable Comp From Rltd OrgReportableCompFromRltdOrgAmtOther CompensationOtherCompensationAmt
LUYEN CHOU
BOARD CHAIR1.005.00Yes (X)Yes (X)$0$0$0
DANIEL RUBENSTEIN
SECRETARY1.0050.00Yes (X)Yes (X)$0$197,093$31,725
PEARL ROCK KANE
TRUSTEE1.001.00Yes (X)$0$0$0
FieldValueIRS element (for citing)
Total Reportable Comp From Org$0TotalReportableCompFromOrgAmt
Tot Reportable Comp Rltd Org$197,093TotReportableCompRltdOrgAmt
Total Other Compensation$31,725TotalOtherCompensationAmt
Indiv Rcvd Greater Than100 K0IndivRcvdGreaterThan100KCnt
Former Ofcr Employees Listed0FormerOfcrEmployeesListedInd
Total Comp Greater Than150 KYes (1)TotalCompGreaterThan150KInd
Compensation From Other Srcs0CompensationFromOtherSrcsInd
Cntrct Rcvd Greater Than100 K0CntrctRcvdGreaterThan100KCnt
Fundraising$22,175FundraisingAmt
All Other Contributions$1,266,298AllOtherContributionsAmt
Total Contributions$1,288,473TotalContributionsAmt

Investment Income InvestmentIncomeGrp

FieldValueIRS element (for citing)
Total Revenue Column$917TotalRevenueColumnAmt
Exclusion$917ExclusionAmt
FieldValueIRS element (for citing)
Fundraising Gross Income$109,794FundraisingGrossIncomeAmt
Contri Rpt Fundraising Event$22,175ContriRptFundraisingEventAmt
Fundraising Direct Expenses$32,719FundraisingDirectExpensesAmt

Net Incm From Fundraising Evt NetIncmFromFundraisingEvtGrp

FieldValueIRS element (for citing)
Total Revenue Column$77,075TotalRevenueColumnAmt
Exclusion$77,075ExclusionAmt

Other Revenue Misc OtherRevenueMiscGrp

FieldValueIRS element (for citing)
DescOTHER INCOMEDesc
Business900099BusinessCd
Total Revenue Column$5,250TotalRevenueColumnAmt
Exclusion$5,250ExclusionAmt
FieldValueIRS element (for citing)
Other Revenue Total$5,250OtherRevenueTotalAmt

Total Revenue TotalRevenueGrp

FieldValueIRS element (for citing)
Total Revenue Column$1,371,715TotalRevenueColumnAmt
Related Or Exempt Func Income$0RelatedOrExemptFuncIncomeAmt
Unrelated Business Revenue$0UnrelatedBusinessRevenueAmt
Exclusion$83,242ExclusionAmt

Grants To Domestic Orgs GrantsToDomesticOrgsGrp

FieldValueIRS element (for citing)
Total$1,003,803TotalAmt
Program Services$1,003,803ProgramServicesAmt

Other Salaries And Wages OtherSalariesAndWagesGrp

FieldValueIRS element (for citing)
Total$36,667TotalAmt
Management And General$33,000ManagementAndGeneralAmt
Fundraising$3,667FundraisingAmt

Pension Plan Contributions PensionPlanContributionsGrp

FieldValueIRS element (for citing)
Total$1,467TotalAmt
Management And General$1,320ManagementAndGeneralAmt
Fundraising$147FundraisingAmt

Other Employee Benefits OtherEmployeeBenefitsGrp

FieldValueIRS element (for citing)
Total$4,310TotalAmt
Management And General$3,879ManagementAndGeneralAmt
Fundraising$431FundraisingAmt

Payroll Taxes PayrollTaxesGrp

FieldValueIRS element (for citing)
Total$2,634TotalAmt
Management And General$2,371ManagementAndGeneralAmt
Fundraising$263FundraisingAmt

Fees For Services Legal FeesForServicesLegalGrp

FieldValueIRS element (for citing)
Total$11,361TotalAmt
Management And General$11,361ManagementAndGeneralAmt

Fees For Services Accounting FeesForServicesAccountingGrp

FieldValueIRS element (for citing)
Total$7,775TotalAmt
Management And General$7,775ManagementAndGeneralAmt

Fees For Services Other FeesForServicesOtherGrp

FieldValueIRS element (for citing)
Total$20,569TotalAmt
Management And General$11,875ManagementAndGeneralAmt
Fundraising$8,694FundraisingAmt

Advertising AdvertisingGrp

FieldValueIRS element (for citing)
Total$516TotalAmt
Management And General$258ManagementAndGeneralAmt
Fundraising$258FundraisingAmt

Office Expenses OfficeExpensesGrp

FieldValueIRS element (for citing)
Total$18,735TotalAmt
Management And General$6,871ManagementAndGeneralAmt
Fundraising$11,864FundraisingAmt

Travel TravelGrp

FieldValueIRS element (for citing)
Total$5,348TotalAmt
Program Services$4,546ProgramServicesAmt
Management And General$694ManagementAndGeneralAmt
Fundraising$108FundraisingAmt

Conferences Meetings ConferencesMeetingsGrp

FieldValueIRS element (for citing)
Total$322TotalAmt
Program Services$322ProgramServicesAmt

Insurance InsuranceGrp

FieldValueIRS element (for citing)
Total$1,155TotalAmt
Management And General$1,155ManagementAndGeneralAmt

Other Expenses OtherExpensesGrp (2 entries)

DescDescTotalTotalAmtProgram ServicesProgramServicesAmtManagement And GeneralManagementAndGeneralAmtFundraisingFundraisingAmt
STAFF EXPENSES$47,520$40,392$6,178$950
SUBSCRIPTIONS AND DUES$13,240$13,240

Total Functional Expenses TotalFunctionalExpensesGrp

FieldValueIRS element (for citing)
Total$1,175,422TotalAmt
Program Services$1,049,063ProgramServicesAmt
Management And General$99,977ManagementAndGeneralAmt
Fundraising$26,382FundraisingAmt

Cash Non Interest Bearing CashNonInterestBearingGrp

FieldValueIRS element (for citing)
BOY$133,594BOYAmt
EOY$172,792EOYAmt

Savings And Temp Cash Invst SavingsAndTempCashInvstGrp

FieldValueIRS element (for citing)
BOY$1,625,506BOYAmt
EOY$1,645,507EOYAmt

Pledges And Grants Receivable PledgesAndGrantsReceivableGrp

FieldValueIRS element (for citing)
BOY$10,790BOYAmt
EOY$0EOYAmt

Prepaid Expenses Defrd Charges PrepaidExpensesDefrdChargesGrp

FieldValueIRS element (for citing)
BOY$10,000BOYAmt
EOY$3,589EOYAmt

Other Assets Total OtherAssetsTotalGrp

FieldValueIRS element (for citing)
BOY$0BOYAmt
EOY$2,986EOYAmt

Total Assets TotalAssetsGrp

FieldValueIRS element (for citing)
BOY$1,779,890BOYAmt
EOY$1,824,874EOYAmt

Accounts Payable Accr Expnss AccountsPayableAccrExpnssGrp

FieldValueIRS element (for citing)
BOY$20,679BOYAmt
EOY$16,135EOYAmt

Other Liabilities OtherLiabilitiesGrp

FieldValueIRS element (for citing)
BOY$146,765BOYAmt
EOY$0EOYAmt

Total Liabilities TotalLiabilitiesGrp

FieldValueIRS element (for citing)
BOY$167,444BOYAmt
EOY$16,135EOYAmt
FieldValueIRS element (for citing)
Organization Follows SFAS117Yes (X)OrganizationFollowsSFAS117Ind

Unrestricted Net Assets UnrestrictedNetAssetsGrp

FieldValueIRS element (for citing)
BOY$1,286,285BOYAmt
EOY$489,673EOYAmt

Temporarily Rstr Net Assets TemporarilyRstrNetAssetsGrp

FieldValueIRS element (for citing)
BOY$326,161BOYAmt
EOY$1,319,066EOYAmt

Total Net Assets Fund Balance TotalNetAssetsFundBalanceGrp

FieldValueIRS element (for citing)
BOY$1,612,446BOYAmt
EOY$1,808,739EOYAmt

Tot Liab Net Assets Fund Balance TotLiabNetAssetsFundBalanceGrp

FieldValueIRS element (for citing)
BOY$1,779,890BOYAmt
EOY$1,824,874EOYAmt
FieldValueIRS element (for citing)
Reconcilation Revenue Expnss$196,293ReconcilationRevenueExpnssAmt
Other Changes In Net Assets$0OtherChangesInNetAssetsAmt
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 Committee0AuditCommitteeInd
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$201,181CurrentTaxYearMinus4YearsAmt
Current Tax Year Minus3 Years$430,294CurrentTaxYearMinus3YearsAmt
Current Tax Year Minus2 Years$1,064,357CurrentTaxYearMinus2YearsAmt
Current Tax Year Minus1 Year$1,316,261CurrentTaxYearMinus1YearAmt
Current Tax Year$1,288,473CurrentTaxYearAmt
Total$4,300,566TotalAmt

Total Calendar Year170 TotalCalendarYear170Grp

FieldValueIRS element (for citing)
Current Tax Year Minus4 Years$201,181CurrentTaxYearMinus4YearsAmt
Current Tax Year Minus3 Years$430,294CurrentTaxYearMinus3YearsAmt
Current Tax Year Minus2 Years$1,064,357CurrentTaxYearMinus2YearsAmt
Current Tax Year Minus1 Year$1,316,261CurrentTaxYearMinus1YearAmt
Current Tax Year$1,288,473CurrentTaxYearAmt
Total$4,300,566TotalAmt
FieldValueIRS element (for citing)
Substantial Contributors Tot$2,634,496SubstantialContributorsTotAmt
Public Support Total170$1,666,070PublicSupportTotal170Amt

Gross Investment Income170 GrossInvestmentIncome170Grp

FieldValueIRS element (for citing)
Current Tax Year Minus4 Years$608CurrentTaxYearMinus4YearsAmt
Current Tax Year Minus3 Years$731CurrentTaxYearMinus3YearsAmt
Current Tax Year Minus2 Years$1,012CurrentTaxYearMinus2YearsAmt
Current Tax Year Minus1 Year$1,022CurrentTaxYearMinus1YearAmt
Current Tax Year$917CurrentTaxYearAmt
Total$4,290TotalAmt

Unrelated Business Net Incm170 UnrelatedBusinessNetIncm170Grp

FieldValueIRS element (for citing)
Current Tax Year$77,075CurrentTaxYearAmt
Total$77,075TotalAmt

Other Income170 OtherIncome170Grp

FieldValueIRS element (for citing)
Current Tax Year Minus1 Year$405CurrentTaxYearMinus1YearAmt
Current Tax Year$5,250CurrentTaxYearAmt
Total$5,655TotalAmt
FieldValueIRS element (for citing)
Total Support$4,387,586TotalSupportAmt
Public Support CY1700.37970PublicSupportCY170Pct
Public Support PY1700.47810PublicSupportPY170Pct
Thirty Thr Pct Suprt Tests CY170Yes (X)ThirtyThrPctSuprtTestsCY170Ind

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.
SCHEDULE A, PART VI, LIST OF UNUSUAL GRANTS:DESCRIPTION: DATE: 06/18/15 AMOUNT: 1000000.

Schedule B IRS990ScheduleB

Schedule D IRS990ScheduleD

FieldValueIRS element (for citing)
Total Book Value Land Buildings$0TotalBookValueLandBuildingsAmt
Footnote TextYes (X)FootnoteTextInd
Total Rev Etc Audited Fincl Stmt$1,404,434TotalRevEtcAuditedFinclStmtAmt
Other Revenue$32,719OtherRevenueAmt
Revenue Not Reported$32,719RevenueNotReportedAmt
Revenue Subtotal$1,371,715RevenueSubtotalAmt
Revenue Not Reported Fincl Stmt$0RevenueNotReportedFinclStmtAmt
Total Revenue Per Form990$1,371,715TotalRevenuePerForm990Amt
Tot Expns Etc Audited Fincl Stmt$1,208,141TotExpnsEtcAuditedFinclStmtAmt
Other Expenses Included$32,719OtherExpensesIncludedAmt
Expenses Not Reported$32,719ExpensesNotReportedAmt
Expenses Subtotal$1,175,422ExpensesSubtotalAmt
Expenses Not Rpt Fincl Stmt$0ExpensesNotRptFinclStmtAmt
Total Expenses Per Form990$1,175,422TotalExpensesPerForm990Amt

Supplemental Information Detail SupplementalInformationDetail (3 entries)

Form And Line ReferenceFormAndLineReferenceDescExplanationExplanationTxt
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: 32,719.
PART XII, LINE 2D - OTHER ADJUSTMENTS:SPECIAL EVENT EXPENSES REPORTED ON PART VIII, LINE 8B: 32,719.

Schedule G IRS990ScheduleG

Fundraising Event Information FundraisingEventInformationGrp

FieldValueIRS element (for citing)
Event1SPRING GALAEvent1Nm
Gross Receipts Event1$131,969GrossReceiptsEvent1Amt
Charitable Contri Event1$22,175CharitableContriEvent1Amt
Gross Revenue Event1$109,794GrossRevenueEvent1Amt
Rent Facility Costs Event1$10,189RentFacilityCostsEvent1Amt
Food And Beverage Event1$14,900FoodAndBeverageEvent1Amt
Other Direct Expenses Event1$7,630OtherDirectExpensesEvent1Amt
Gross Receipts Total$131,969GrossReceiptsTotalAmt
Charitable Contributions Tot$22,175CharitableContributionsTotAmt
Gross Revenue Total Events$109,794GrossRevenueTotalEventsAmt
Rent Fclty Costs Total Events$10,189RentFcltyCostsTotalEventsAmt
Food And Beverage Total Events$14,900FoodAndBeverageTotalEventsAmt
Oth Direct Expnss Total Events$7,630OthDirectExpnssTotalEventsAmt
Direct Expense Summary Events$32,719DirectExpenseSummaryEventsAmt
Net Income Summary$77,075NetIncomeSummaryAmt

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 Line13002 FORT HAMILTON PARKWAYAddressLine1Txt
CityBROOKLYNCityNm
State AbbreviationNYStateAbbreviationCd
ZIP11218ZIPCd
FieldValueIRS element (for citing)
Recipient EIN263206518RecipientEIN
IRC Section501(C)(3)IRCSectionDesc
Cash Grant$1,003,803CashGrantAmt
Purpose Of GrantGENERAL SUPPORT.PurposeOfGrantTxt
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 ORGANIZATION DOES NOT PROVIDE GRANTS OR ASSISTANCE TO ANY ORGANIZATIONS OTHER THAN BROOKLYN PROSPECT CHARTER SCHOOL.ExplanationTxt

Schedule J IRS990ScheduleJ

FieldValueIRS element (for citing)
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

FieldValueIRS element (for citing)
PersonDANIEL RUBENSTEINPersonNm
TitleSECRETARYTitleTxt
Base Compensation Filing Org$0BaseCompensationFilingOrgAmt
Compensation Based On Rltd Orgs$197,093CompensationBasedOnRltdOrgsAmt
Bonus Filing Organization$0BonusFilingOrganizationAmount
Bonus Related Organizations$0BonusRelatedOrganizationsAmt
Other Compensation Filing Org$0OtherCompensationFilingOrgAmt
Other Compensation Rltd Orgs$0OtherCompensationRltdOrgsAmt
Deferred Compensation Flng Org$0DeferredCompensationFlngOrgAmt
Deferred Comp Rltd Orgs$8,110DeferredCompRltdOrgsAmt
Nontaxable Benefits Filing Org$0NontaxableBenefitsFilingOrgAmt
Nontaxable Benefits Rltd Orgs$23,615NontaxableBenefitsRltdOrgsAmt
Total Compensation Filing Org$0TotalCompensationFilingOrgAmt
Total Compensation Rltd Orgs$228,818TotalCompensationRltdOrgsAmt
Comp Report Prior990 Filing Org$0CompReportPrior990FilingOrgAmt
Comp Report Prior990 Rltd Orgs$0CompReportPrior990RltdOrgsAmt

Supplemental Information Detail SupplementalInformationDetail

FieldValueIRS element (for citing)
Form And Line ReferencePART I, LINE 3FormAndLineReferenceDesc
ExplanationPROSPECT SCHOOLS, INC. DOES NOT PROVIDE COMPENSATION TO ANY OF ITS TOP MANAGEMENT OFFICIALS. THE SALARY PAID TO TOP MANAGEMENT OFFICIALS IS PAID BY BROOKLYN PROSPECT CHARTER SCHOOL, A RELATED ORGANIZATION. THE FOLLOWING IS THEIR COMPENSATION POLICY: 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 2017. ALL DISCUSSION AND DELIBERATION WAS DOCUMENTED IN THE MINUTES OF THE GOVERNING BOARD.ExplanationTxt

Schedule O IRS990ScheduleO

Supplemental Information Detail SupplementalInformationDetail (4 entries)

Form And Line ReferenceFormAndLineReferenceDescExplanationExplanationTxt
FORM 990, PART VI, SECTION A, LINE 8BTHE BOARD ACTS ON BEHALF OF THE ORGANIZATION AND NO SUCH COMMITTEES EXIST.
FORM 990, PART VI, SECTION B, LINE 11BFORM 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 12THE ORGANIZATION FOLLOWS THE POLICIES OF RELATED PARTY BROOKLYN PROSPECT CHARTER SCHOOL, BUT HAS NOT FORMALLY ADOPTED THEM AS ITS' OWN POLICIES.
FORM 990, PART VI, SECTION C, LINE 19THE 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.

Schedule R IRS990ScheduleR

Id Related Tax Exempt Org IdRelatedTaxExemptOrgGrp

Disregarded Entity Name DisregardedEntityName

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

US Address USAddress

FieldValueIRS element (for citing)
Address Line13002 FORT HAMILTON PARKWAYAddressLine1Txt
CityBROOKLYNCityNm
State AbbreviationNYStateAbbreviationCd
ZIP11218ZIPCd
FieldValueIRS element (for citing)
EIN263206518EIN
Primary ActivitiesSCHOOLPrimaryActivitiesTxt
Legal Domicile StateNYLegalDomicileStateCd
Exempt Code Section501(C)(3)ExemptCodeSectionTxt
Public Charity StatusLINE 2PublicCharityStatusTxt
Direct Controlling NAN/ADirectControllingNACd
Controlled Organization0ControlledOrganizationInd
FieldValueIRS element (for citing)
Receipt Of Int Annts Rnts Rylts0ReceiptOfIntAnntsRntsRyltsInd
Gift Grnt Or Cap Contri To Oth OrgYes (1)GiftGrntOrCapContriToOthOrgInd
Gift Grnt Cap Contri From Oth Org0GiftGrntCapContriFromOthOrgInd
Loans Or Guarantees To Other Org0LoansOrGuaranteesToOtherOrgInd
Loans Or Guarantees From Oth Org0LoansOrGuaranteesFromOthOrgInd
Div Related Organization0DivRelatedOrganizationInd
Asset Sale To Other Org0AssetSaleToOtherOrgInd
Asset Purchase From Other Org0AssetPurchaseFromOtherOrgInd
Asset Exchange0AssetExchangeInd
Rental Of Facilities To Oth Org0RentalOfFacilitiesToOthOrgInd
Rental Of Fclts From Oth Org0RentalOfFcltsFromOthOrgInd
Perform Of Services For Oth Org0PerformOfServicesForOthOrgInd
Perform Of Services By Other Org0PerformOfServicesByOtherOrgInd
Sharing Of FacilitiesYes (1)SharingOfFacilitiesInd
Paid Employees Sharing0PaidEmployeesSharingInd
Reimbursement Paid To Other OrgYes (1)ReimbursementPaidToOtherOrgInd
Reimbursement Paid By Other OrgYes (1)ReimbursementPaidByOtherOrgInd
Transfer To Other Org0TransferToOtherOrgInd
Transfer From Other Org0TransferFromOtherOrgInd

Reasonable Cause Explanation ReasonableCauseExplanation

FieldValueIRS element (for citing)
ExplanationLATE FILED RETURN DUE TO CCH SOFTWARE OUTAGEExplanationTxt

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