2019-05-14T14:16:49-05:00 2018-06-30 271728945 PKF O'CONNOR DAVIES LLP 665 FIFTH AVENUE NEW YORK NY 10022 990 2017-07-01 434669846 CAPITAL PREPARATORY SCHOOLS INC CAPI 9178383684 777 MAIN STREET BRIDGEPORT CT 06608 DR STEPHEN PERRY CHIEF EXECUTIVE OFFICER 9178383684 2019-05-14 1 GARRETT M HIGGINS P00543209 2122862600 2019-05-14 4.15.211.182 2019-05-14 14:01:11 ED P DA39A3EE5E6B4B0D3255BFEF95601890AFD80709 B29914CEB47F2C50F9800CDE5B5AE22990D509AB 2017 2019-02-21 02:37:17Z X DR STEPHEN PERRY 777 MAIN STREET BRIDGEPORT CT 06608 2306709 0 X WWW.WEARECAPITALPREP.ORG X 2012 CT TO PROVIDE ALL STUDENTS ACCESS TO A HIGH QUALITY EDUCATION BY FACILITATING AND SUPPORTING THE CREATION, OPERATION, AND MANAGEMENT OF INNOVATIVE AND EFFECTIVE SCHOOL MODELS. 4 4 13 4 0 0 1965486 1327820 504051 978889 0 0 0 0 2469537 2306709 0 225000 0 0 720558 972200 0 0 69876 622273 445049 1342831 1642249 1126706 664460 1535306 2990873 238981 1030088 1296325 1960785 TO PROVIDE ALL STUDENTS ACCESS TO A HIGH QUALITY EDUCATION BY FACILITATING AND SUPPORTING THE CREATION, OPERATION, AND MANAGEMENT OF INNOVATIVE AND EFFECTIVE SCHOOL MODELS. 0 0 1051833 225000 978889 THE ORGANIZATION HAS ENTERED INTO SERVICE AGREEMENTS TO PROVIDE HIGH QUALITY CHARTER SCHOOL MANAGEMENT TO TWO CHARTER SCHOOLS. 1051833 1 1 0 0 0 0 0 0 0 0 1 0 1 1 0 1 1 0 0 0 0 0 0 0 0 0 0 1 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 11 0 13 1 0 0 0 0 0 0 0 0 0 0 X 4 4 1 0 0 0 0 0 0 1 0 0 0 1 1 1 1 0 1 1 1 0 NY X X JOAN MASSEY 9178383684 777 MAIN STREET BRIDGEPORT CT 06608 LISA BUFFINGTON CHAIRPERSON/SECRETARY 1.00 X X 0 0 0 ROBERT TYNDALL VICE PRESIDENT/TREASURER 1.00 X X 0 0 0 BRENNAN BROWN BOARD MEMBER 1.00 X 0 0 0 IRA RUBENSTAL BOARD MEMBER 1.00 X 0 0 0 JOAN MASSEY PRESIDENT 50.00 X 152250 0 16026 DR STEPHEN PERRY CHIEF EXECUTIVE OFFICER 50.00 X 152250 0 146 JILL CUTLER-HODGMAN CHIEF OPERATING OFFICER 50.00 X 71009 0 14147 PAULA ALTIERI CHIEF FINANCIAL OFFICER (AS OF 1/2018) 50.00 X 0 0 0 TAMMY CASSILE ASSISTANT SUPERINTENDENT 50.00 X 137025 0 13638 512534 0 43957 3 0 1 0 0 1327820 1327820 MANAGEMENT FEES 611110 978889 978889 978889 2306709 978889 0 0 225000 225000 716970 412128 253551 51291 169755 97579 59060 13116 4860 2794 1921 145 15828 9098 6255 475 64787 37240 25603 1944 18180 18180 17557 17557 136376 31169 104621 586 32521 29269 3252 10625 6110 4196 319 15768 9064 6231 473 22912 13170 9055 687 1458 838 576 44 18238 10484 7207 547 PROFESSIONAL DEVELOPMEN 110162 110162 SPONSORSHIP AND OTHER S 52966 52966 FURNISHINGS 5128 2948 2026 154 REPAIRS AND MAINTENANCE 3158 1814 1249 95 1642249 1051833 520540 69876 1153882 2292745 19005 10253 5248 1458 0 3790 520665 362419 163420 1535306 2990873 38981 30088 200000 1000000 238981 1030088 X 1296325 1460785 500000 1296325 1960785 1535306 2990873 664460 0 X X 0 1 X 0 0 X 225000 576500 450000 1965486 1327820 4544806 225000 576500 450000 1965486 1327820 4544806 3820520 724286 4544806 1756840 0.15940 X CAPITAL PREPARATORY SCHOOLS, INC. PUBLIC SUPPORT PERCENTAGE FOR 2017 IS 15.94%, UP FROM 12.51% FOR 2016. CAPITAL PREPARATORY SCHOOLS, INC. ATTRACTS NEW AND ADDITIONAL PUBLIC SUPPORT ON A CONTINUOUS BASIS AND WE HAVE INDEED RECEIVED BROAD SUPPORT FROM AN ARRAY OF SOURCES. EVERY YEAR, THE ORGANIZATION IS INCREASING THE NUMBER OF CONTRIBUTIONS IT RECEIVES FROM NEW CONTRIBUTORS. OUR MISSION IS TO RAISE FUNDS AND PROVIDE ALL STUDENTS ACCESS TO A HIGH QUALITY EDUCATION BY FACILITATING AND SUPPORTING THE CREATION, OPERATION AND MANAGEMENT OF INNOVATIVE AND EFFECTIVE SCHOOL MODELS. CAPITAL PREPARATORY SCHOOLS, INC. WORKS WITH AND HAS ENTERED INTO MANAGEMENT AGREEMENTS WITH TWO HIGH QUALITY CHARTER SCHOOLS. AS MORE STUDENTS ENROLL IN THE CAPITAL PREPARATORY SCHOOLS, INC. NETWORK OF SCHOOLS, THE SCHOOL IS EXPECTING TO BROADEN ITS CONTRIBUTIONS AND ATTRACT NEW DONORS. THERE IS AN ADDITIONAL CAPITAL PREPARATORY SCHOOL EXPECTED TO OPEN IN 2020 THAT WILL DRIVE UP RECOGNITION AND PUBLICITY, AND WILL ALSO ATTRACT NEW POTENTIAL DONORS AND CONTRIBUTORS. THE ORGANIZATION HAS BEEN IN EXISTENCE SINCE 2012 AND BEGAN WITH A LIMITED RANGE OF CONTRIBUTORS. THROUGHOUT THE YEARS, THE SCHOOLS HAVE ATTRACTED MORE ATTENTION AND INCREASED ATTENDANCE, WHICH HAS LED TO AN INCREASE IN CONTRIBUTORS FROM NEW CONTRIBUTORS. CAPITAL PREPARATORY SCHOOLS, INC. IS ALSO BROADENING ITS BOARD OF DIRECTORS AND IS EXPECTING THE BROADENED SCOPE OF THE BOARD TO BRING IN NEW CONTRIBUTORS. DUE TO THE FACT THAT CAPITAL PREPARATORY SCHOOLS, INC. HAS NOT BEEN IN EXISTENCE FOR A LONG PERIOD OF TIME, THE SCHOOL'S RECOGNITION IS SLOWLY INCREASING AND WILL EVENTUALLY BE AT A POINT WHERE THE SUPPORTER AND ALUMNI BASE WILL BE LARGE ENOUGH TO HAVE A BROAD CONTRIBUTOR BASE. THE CURRENT AND POTENTIAL SUPPORTERS OF THE ORGANIZATION GIVE BECAUSE CARE AND RECOGNIZE THE IMPORTANCE OF THE ORGANIZATIONS AND THE SCHOOLS MISSION AND THEY RESPECT THE QUALITY OF EDUCATION THE CAPITAL PREPARATORY SCHOOLS, INC. NETWORK PROVIDES. BECAUSE OUR MISSION IS TO INCREASE THE QUALITY OF EDUCATION OF HISTORICALLY DISADVANTAGED KIDS AND THE NEED FOR HIGH QUALITY CHARTER SCHOOLS IS INCREASING, IT IS NECESSARY TO SOLICIT SIZEABLE GRANTS WHERE POSSIBLE, IN ADDITION TO THE SMALLER GIFTS WE RECEIVE FROM THE LOCAL COMMUNITY. IN 2016, WE ALSO RECEIVED A LARGE DONATION FROM DONOR OF $1,300,000 FOR THE FURTHERANCE OF OUR MISSION. THIS GIFT WAS HIGHLY UNUSUAL IN TERMS OF THE AMOUNT AS ALL PRIOR YEARS, THE DONOR HAS DONATED SIGNIFICANTLY LESS. WITHOUT THE UNUSUALLY HIGH DONATION IN 2016, THE ORGANIZATION WOULD BE PASSING THE PUBLIC SUPPORT TEST. CAPITAL PREPARATORY SCHOOLS, INC.'S BOARD OF DIRECTORS IS COMPRISED OF INDIVIDUALS FROM THE LOCAL COMMUNITY WITH WIDELY VARYING BACKGROUNDS WHO ARE KEENLY INTERESTED IN EDUCATION, IN SUPPORTING THE MISSION OF THE ORGANIZATION, AND WHO CARE ABOUT ITS SUCCESS IN MEETING THE GOALS OF ITS MISSION. THE SECTORS REPRESENTED BY THE BOARD INCLUDE BUSINESS, EDUCATION, PHILANTHROPY AND ARTS. MANY OF THE MEMBERS OF THE BOARD ALSO SERVE ON THE BOARDS OF HIGHLY REGARDED NON-PROFIT INSTITUTIONS. CAPITAL PREPARATORY SCHOOLS, INC. IS GAINING IN VISIBILITY AND RECOGNITION WITH NEW PUBLIC CONTRIBUTORS IN 2017. IN 2018, WE RECEIVED A LARGE CONTRIBUTION AND SUPPORT FROM A WELL-KNOWN CELEBRITY, AND IN 2020 WE WILL BE LAUNCHING A NEW SCHOOL IN NEW YORK CITY. WE ARE LOOKING FORWARD TO REACHING ATTRACTING NEW DONORS AND MAKING THE PUBLIC MORE AWARE OF OUR HIGH QUALITY CHARTER SCHOOLS. OUR GOAL IS TO FURTHER OUR MISSION OF PROVIDE ALL STUDENTS ACCESS TO A HIGH QUALITY EDUCATION AND WE EXPECT TO SEE NEW SUPPORTERS IN THE FUTURE. PART II, SECTION A: IN 2015 THE ORGANIZATION CHANGED ITS ACCOUNTING PERIOD FROM 12/31 TO 6/30 YEAR END. THE BELOW CHART CLARIFIES THE INFORMATION REPRESENTED IN PART II: COLUMN (A) - CALENDAR YEAR ENDED 12/31/2014 COLUMN (B) - SHORT YEAR ENDED 6/30/2015 COLUMN (C) - FISCAL YEAR ENDED 6/30/2016 COLUMN (D) - FISCAL YEAR ENDED 6/30/2017 COLUMN (E) - FISCAL YEAR ENDED 6/30/2018 5248 1458 3790 3790 NOTE RECEIVABLE 520665 C 520665 DUE FROM CAPITAL PREPARATORY HARBOR SCHOOL 49127 DUE FROM CAPITAL PREPARATORY HARLEM SCHOOL 114293 163420 X 2306709 0 2306709 0 2306709 1642249 0 1642249 0 1642249 PART X, LINE 2: THE ORGANIZATION RECOGNIZES THE EFFECT OF INCOME TAX POSITIONS ONLY IF THOSE POSITIONS ARE MORE LIKELY THAN NOT TO BE SUSTAINED. MANAGEMENT HAS DETERMINED THAT THE ORGANIZATION HAD NO UNCERTAIN TAX POSITIONS THAT WOULD REQUIRE FINANCIAL STATEMENT RECOGNITION OR DISCLOSURE. THE ORGANIZATION IS NO LONGER SUBJECT TO EXAMINATIONS BY THE APPLICABLE TAXING JURISDICTIONS FOR YEARS PRIOR TO JUNE 30, 2015. 1 CAPITAL PREP HARBOR SCHOOL 777 MAIN STREET BRIDGEPORT CT 06604 473525777 501(C)(3) 225000 GENERAL OPERATING ASSISTANCE 1 0 PART I, LINE 2: THE ORGANIZATION MADE A GRANT TO CAPITAL PREPARATORY HARBOR CHARTER SCHOOL. THE GRANT IS USED TO SUPPORT GENERAL OPERATING COSTS. CAPITAL PREPARATORY SCHOOLS, INC. (CPS) IS HIRED AS THE SCHOOLS CMO AND THROUG THE CPS CFO, ALL FUNDING AND EXPENDITURES ARE REVIEWED ON A MONTHLY BASIS, INCLUDING GRANT FUNDING, AND MONTHLY FINANCIAL REPORTS ARE DEVELOPED, REVIEWED AND REPORTED OUT TO THE LEADERSHIP TEAM AND THE BOARD OF TRUSTEES. X X X X 0 0 0 0 0 0 0 0 0 JOAN MASSEY PRESIDENT 152250 0 0 0 0 0 2318 0 13708 0 168276 0 0 0 DR STEPHEN PERRY CHIEF EXECUTIVE OFFICER 152250 0 0 0 0 0 0 0 146 0 152396 0 0 0 TAMMY CASSILE ASSISTANT SUPERINTENDENT 137025 0 0 0 0 0 0 0 13638 0 150663 0 0 0 FORM 990, PART VI, SECTION A, LINE 2 LISA BUFFINGTON AND DONALD CROISETIERE HAVE A FAMILY RELATIONSHIP. FORM 990, PART VI, SECTION A, LINE 8B THE ORGANIZATION HAS NO ACTIVE COMMITTEES AND THE BOARDS ACTS AS A WHOLE. FORM 990, PART VI, SECTION B, LINE 11B FORM 990 IS REVIEWED BY MANAGEMENT AND THE BOARD OF DIRECTORS FOR APPROVAL. IF CHANGES ARE REQUIRED, THE ORGANIZATION WILL THEN FORWARD TO THE ACCOUNTING 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 THE ORGANIZATION SHARES ITS CONFLICT OF INTEREST POLICY WITH BOARD MEMBERS, OFFICERS AND KEY EMPLOYEES (IF ANY) ON AN ANNUAL BASIS. OFFICERS, DIRECTORS, AND KEY EMPLOYEES ARE EXPECTED TO DECLARE IF AT ANY POINT A CONFLICT OF INTEREST ARISES. AFTER DISCLOSURE OF A POTENTIAL CONFLICT, THE INDIVIDUAL IN QUESTION MUST RECUSE THEMSELVES FROM VOTING ON THE MATTER. SUCH MATTERS INVOLVING THE EXISTENCE OF CONFLICTS OF INTEREST ARE DOCUMENTED IN THE MINUTES OF THE GOVERNING BOARD. FORM 990, PART VI, SECTION B, LINE 15 THE ORGANIZATIONS BOARD OF DIRECTORS RETAINED A CONSULTANT TO PRESENT TO THE BOARD OF DIRECTORS WITH COMPARABLE SALARIES OF SIMILAR ORGANIZATIONS FOR A RANGE OF POSITIONS IN THE CHARTER MANAGEMENT ORGANIZATION, TO DETERMINE AND APPROVE THE COMPENSATION OF THE ORGANIZATIONS OFFICERS AND KEY EMPLOYEES (IF ANY). CSBM (CHARTER SCHOOL BUSINESS MANAGEMENT) PERFORMED A SALARY COMPARISON STUDY OF SCHOOL DISTRICTS AND CHARTER ORGANIZATIONS TO DETERMINE COMPARABLE COMPENSATION LEVELS, INCLUDING ORGANIZATIONS SUCH AS ACHIEVEMENT FIRST, BRIDGEPORT PUBLIC SCHOOLS, NYC DOE AND STRATFOD PUBLIC SCHOOLS. THIS PROCESS LAST OCCURRED IN 2018 AND 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 275 MADISON AVENUE, 19TH FLOOR, NEW YORK, NY 10016, OR BY CALLING THE ORGANIZATION DIRECTLY AT (917)838-3684. FORM 990, PART XII, LINE 2C: THE ORGANIZATION HAS A FINANCE COMMITTEE THAT IS RESPONSIBLE FOR OVERSIGHT OF THE AUDIT AND SELECTION OF THE INDEPENDENT AUDITOR.