BETA

PROSPECT SCHOOLS INC: Form 990, tax year 2015

View the entire original 990 at ProPublica ↗

Organization
PROSPECT SCHOOLS INC (EIN 33-1174065)
Tax period
2015-07-01 to 2016-06-30
Filed
2017-05-15
IRS object ID
201711359349302946
Schema version
2015v3.0
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)
Return2017-05-15T10:40:47-05:00ReturnTs
Tax Period End2016-06-30TaxPeriodEndDt

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 Begin2015-07-01TaxPeriodBeginDt

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)
PersonDANIEL RUBENSTEINPersonNm
Person TitleTRUSTEEPersonTitleTxt
Phone3478897041PhoneNum
Signature2017-05-15SignatureDt
Discuss With Paid PreparerYes (1)DiscussWithPaidPreparerInd

Preparer Person PreparerPersonGrp

FieldValueIRS element (for citing)
Preparer PersonGARRETT M HIGGINSPreparerPersonNm
PTINP00543209PTIN
Phone2122862600PhoneNum
Preparation2017-05-13PreparationDt
FieldValueIRS element (for citing)
Tax2015TaxYr
Build TS2021-01-29 14:40:06ZBuildTS

Form 990 IRS990

FieldValueIRS element (for citing)
Principal OfficerDANIEL RUBENSTEINPrincipalOfficerNm

US Address USAddress

FieldValueIRS element (for citing)
Address Line13002 FORT HAMILTON PARKWAYAddressLine1Txt
CityBROOKLYNCityNm
State AbbreviationNYStateAbbreviationCd
ZIP11218ZIPCd
FieldValueIRS element (for citing)
Gross Receipts$1,081,919GrossReceiptsAmt
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 Employee0TotalEmployeeCnt
Total Volunteers66TotalVolunteersCnt
Total Gross UBI$0TotalGrossUBIAmt
Net Unrelated Bus Txbl Incm$0NetUnrelatedBusTxblIncmAmt
PY Contributions Grants$1,430,294PYContributionsGrantsAmt
CY Contributions Grants$1,064,357CYContributionsGrantsAmt
PY Program Service Revenue$0PYProgramServiceRevenueAmt
CY Program Service Revenue$0CYProgramServiceRevenueAmt
PY Investment Income$731PYInvestmentIncomeAmt
CY Investment Income$1,012CYInvestmentIncomeAmt
PY Other Revenue$5,612PYOtherRevenueAmt
CY Other Revenue-$7,888CYOtherRevenueAmt
PY Total Revenue$1,436,637PYTotalRevenueAmt
CY Total Revenue$1,057,481CYTotalRevenueAmt
PY Grants And Similar Paid$356,819PYGrantsAndSimilarPaidAmt
CY Grants And Similar Paid$1,040,069CYGrantsAndSimilarPaidAmt
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$0CYSalariesCompEmpBnftPaidAmt
PY Total Prof Fndrsng Expns$0PYTotalProfFndrsngExpnsAmt
CY Total Prof Fndrsng Expns$0CYTotalProfFndrsngExpnsAmt
CY Total Fundraising Expense$30,135CYTotalFundraisingExpenseAmt
PY Other Expenses$24,195PYOtherExpensesAmt
CY Other Expenses$73,827CYOtherExpensesAmt
PY Total Expenses$381,014PYTotalExpensesAmt
CY Total Expenses$1,113,896CYTotalExpensesAmt
PY Revenues Less Expenses$1,055,623PYRevenuesLessExpensesAmt
CY Revenues Less Expenses-$56,415CYRevenuesLessExpensesAmt
Total Assets BOY$1,560,193TotalAssetsBOYAmt
Total Assets EOY$1,502,619TotalAssetsEOYAmt
Total Liabilities BOY$6,975TotalLiabilitiesBOYAmt
Total Liabilities EOY$5,816TotalLiabilitiesEOYAmt
Net Assets Or Fund Balances BOY$1,553,218NetAssetsOrFundBalancesBOYAmt
Net Assets Or Fund Balances EOY$1,496,803NetAssetsOrFundBalancesEOYAmt
MissionTHE ORGANIZATION'S PURPOSE IS TO RAISE FUNDS IN SUPPORT OF NEW YORK CHARTER SCHOOLS.MissionDesc
Significant New Program Srvc0SignificantNewProgramSrvcInd
Significant Change0SignificantChangeInd
Expense$1,061,749ExpenseAmt
Grant$1,040,069GrantAmt
DescPROVIDED SUPPORT TO BROOKLYN PROSPECT CHARTER SCHOOL TO COVER SPECIFIC PROGRAM EXPENSES.Desc
Total Program Service Expenses$1,061,749TotalProgramServiceExpensesAmt
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 Document0IRPDocumentCnt
IRP Document W2 G0IRPDocumentW2GCnt
Employee0EmployeeCnt
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 CHAIR1.002.00Yes (X)Yes (X)$0$0$0
DANIEL RUBENSTEIN
SECRETARY1.0050.00Yes (X)Yes (X)$0$185,917$27,460
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$185,917TotReportableCompRltdOrgAmt
Total Other Compensation$27,460TotalOtherCompensationAmt
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$68,645FundraisingAmt
All Other Contributions$995,712AllOtherContributionsAmt
Total Contributions$1,064,357TotalContributionsAmt

Investment Income InvestmentIncomeGrp

FieldValueIRS element (for citing)
Total Revenue Column$1,012TotalRevenueColumnAmt
Exclusion$1,012ExclusionAmt
FieldValueIRS element (for citing)
Fundraising Gross Income$16,550FundraisingGrossIncomeAmt
Contri Rpt Fundraising Event$68,645ContriRptFundraisingEventAmt
Fundraising Direct Expenses$24,438FundraisingDirectExpensesAmt

Net Incm From Fundraising Evt NetIncmFromFundraisingEvtGrp

FieldValueIRS element (for citing)
Total Revenue Column-$7,888TotalRevenueColumnAmt
Exclusion-$7,888ExclusionAmt

Total Revenue TotalRevenueGrp

FieldValueIRS element (for citing)
Total Revenue Column$1,057,481TotalRevenueColumnAmt
Related Or Exempt Func Income$0RelatedOrExemptFuncIncomeAmt
Unrelated Business Revenue$0UnrelatedBusinessRevenueAmt
Exclusion-$6,876ExclusionAmt

Grants To Domestic Orgs GrantsToDomesticOrgsGrp

FieldValueIRS element (for citing)
Total$1,040,069TotalAmt
Program Services$1,040,069ProgramServicesAmt

Fees For Services Legal FeesForServicesLegalGrp

FieldValueIRS element (for citing)
Total$275TotalAmt
Management And General$275ManagementAndGeneralAmt

Fees For Services Accounting FeesForServicesAccountingGrp

FieldValueIRS element (for citing)
Total$5,021TotalAmt
Management And General$5,021ManagementAndGeneralAmt

Fees For Services Other FeesForServicesOtherGrp

FieldValueIRS element (for citing)
Total$21,330TotalAmt
Fundraising$21,330FundraisingAmt

Office Expenses OfficeExpensesGrp

FieldValueIRS element (for citing)
Total$13,016TotalAmt
Management And General$8,720ManagementAndGeneralAmt
Fundraising$4,296FundraisingAmt

Information Technology InformationTechnologyGrp

FieldValueIRS element (for citing)
Total$3,576TotalAmt
Fundraising$3,576FundraisingAmt

Occupancy OccupancyGrp

FieldValueIRS element (for citing)
Total$2,600TotalAmt
Management And General$2,600ManagementAndGeneralAmt

Travel TravelGrp

FieldValueIRS element (for citing)
Total$1,342TotalAmt
Program Services$1,087ProgramServicesAmt
Management And General$215ManagementAndGeneralAmt
Fundraising$40FundraisingAmt

Insurance InsuranceGrp

FieldValueIRS element (for citing)
Total$1,115TotalAmt
Management And General$1,115ManagementAndGeneralAmt

Other Expenses OtherExpensesGrp

FieldValueIRS element (for citing)
DescSTAFF EXPENSESDesc
Total$25,552TotalAmt
Program Services$20,593ProgramServicesAmt
Management And General$4,066ManagementAndGeneralAmt
Fundraising$893FundraisingAmt

Total Functional Expenses TotalFunctionalExpensesGrp

FieldValueIRS element (for citing)
Total$1,113,896TotalAmt
Program Services$1,061,749ProgramServicesAmt
Management And General$22,012ManagementAndGeneralAmt
Fundraising$30,135FundraisingAmt

Cash Non Interest Bearing CashNonInterestBearingGrp

FieldValueIRS element (for citing)
BOY$254,080BOYAmt
EOY$361,352EOYAmt

Savings And Temp Cash Invst SavingsAndTempCashInvstGrp

FieldValueIRS element (for citing)
BOY$1,106,113BOYAmt
EOY$1,137,690EOYAmt

Pledges And Grants Receivable PledgesAndGrantsReceivableGrp

FieldValueIRS element (for citing)
EOY$3,577EOYAmt

Other Assets Total OtherAssetsTotalGrp

FieldValueIRS element (for citing)
BOY$200,000BOYAmt
EOY$0EOYAmt

Total Assets TotalAssetsGrp

FieldValueIRS element (for citing)
BOY$1,560,193BOYAmt
EOY$1,502,619EOYAmt

Accounts Payable Accr Expnss AccountsPayableAccrExpnssGrp

FieldValueIRS element (for citing)
BOY$6,975BOYAmt
EOY$5,816EOYAmt

Total Liabilities TotalLiabilitiesGrp

FieldValueIRS element (for citing)
BOY$6,975BOYAmt
EOY$5,816EOYAmt
FieldValueIRS element (for citing)
Organization Follows SFAS117Yes (X)OrganizationFollowsSFAS117Ind

Unrestricted Net Assets UnrestrictedNetAssetsGrp

FieldValueIRS element (for citing)
BOY$472,016BOYAmt
EOY$643,204EOYAmt

Temporarily Rstr Net Assets TemporarilyRstrNetAssetsGrp

FieldValueIRS element (for citing)
BOY$1,081,202BOYAmt
EOY$853,599EOYAmt

Total Net Assets Fund Balance TotalNetAssetsFundBalanceGrp

FieldValueIRS element (for citing)
BOY$1,553,218BOYAmt
EOY$1,496,803EOYAmt

Tot Liab Net Assets Fund Balance TotLiabNetAssetsFundBalanceGrp

FieldValueIRS element (for citing)
BOY$1,560,193BOYAmt
EOY$1,502,619EOYAmt
FieldValueIRS element (for citing)
Reconcilation Revenue Expnss-$56,415ReconcilationRevenueExpnssAmt
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$110,311CurrentTaxYearMinus4YearsAmt
Current Tax Year Minus3 Years$150,164CurrentTaxYearMinus3YearsAmt
Current Tax Year Minus2 Years$201,181CurrentTaxYearMinus2YearsAmt
Current Tax Year Minus1 Year$430,294CurrentTaxYearMinus1YearAmt
Current Tax Year$1,064,357CurrentTaxYearAmt
Total$1,956,307TotalAmt

Total Calendar Year170 TotalCalendarYear170Grp

FieldValueIRS element (for citing)
Current Tax Year Minus4 Years$110,311CurrentTaxYearMinus4YearsAmt
Current Tax Year Minus3 Years$150,164CurrentTaxYearMinus3YearsAmt
Current Tax Year Minus2 Years$201,181CurrentTaxYearMinus2YearsAmt
Current Tax Year Minus1 Year$430,294CurrentTaxYearMinus1YearAmt
Current Tax Year$1,064,357CurrentTaxYearAmt
Total$1,956,307TotalAmt
FieldValueIRS element (for citing)
Substantial Contributors Tot$718,508SubstantialContributorsTotAmt
Public Support Total170$1,237,799PublicSupportTotal170Amt

Gross Investment Income170 GrossInvestmentIncome170Grp

FieldValueIRS element (for citing)
Current Tax Year Minus4 Years$454CurrentTaxYearMinus4YearsAmt
Current Tax Year Minus3 Years$566CurrentTaxYearMinus3YearsAmt
Current Tax Year Minus2 Years$608CurrentTaxYearMinus2YearsAmt
Current Tax Year Minus1 Year$731CurrentTaxYearMinus1YearAmt
Current Tax Year$1,012CurrentTaxYearAmt
Total$3,371TotalAmt
FieldValueIRS element (for citing)
Total Support$1,959,678TotalSupportAmt
Public Support CY1700.63160PublicSupportCY170Pct
Public Support PY1700.92060PublicSupportPY170Pct
Thirty Thr Pct Suprt Tests CY170Yes (X)ThirtyThrPctSuprtTestsCY170Ind

Form990 Schedule A Part VI Form990ScheduleAPartVIGrp

FieldValueIRS element (for citing)
Form And Line ReferenceSCHEDULE A, PART VI, LIST OF UNUSUAL GRANTS:FormAndLineReferenceDesc
ExplanationDESCRIPTION: DATE: 06/18/15 AMOUNT: 1000000.ExplanationTxt

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

FieldValueIRS element (for citing)
Total Book Value Land Buildings$0TotalBookValueLandBuildingsAmt
Footnote TextYes (X)FootnoteTextInd
Total Rev Etc Audited Fincl Stmt$1,081,919TotalRevEtcAuditedFinclStmtAmt
Other Revenue$24,438OtherRevenueAmt
Revenue Not Reported$24,438RevenueNotReportedAmt
Revenue Subtotal$1,057,481RevenueSubtotalAmt
Revenue Not Reported Fincl Stmt$0RevenueNotReportedFinclStmtAmt
Total Revenue Per Form990$1,057,481TotalRevenuePerForm990Amt
Tot Expns Etc Audited Fincl Stmt$1,138,334TotExpnsEtcAuditedFinclStmtAmt
Other Expenses Included$24,438OtherExpensesIncludedAmt
Expenses Not Reported$24,438ExpensesNotReportedAmt
Expenses Subtotal$1,113,896ExpensesSubtotalAmt
Expenses Not Rpt Fincl Stmt$0ExpensesNotRptFinclStmtAmt
Total Expenses Per Form990$1,113,896TotalExpensesPerForm990Amt

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, 2013.
PART XI, LINE 2D - OTHER ADJUSTMENTS:SEPCIAL EVENT EXPENSES REPORTED ON PART VIII, LINE 8B: 24,438.
PART XII, LINE 2D - OTHER ADJUSTMENTS:SEPCIAL EVENT EXPENSES REPORTED ON PART VIII, LINE 8B: 24,438.

Schedule G IRS990ScheduleG

Fundraising Event Information FundraisingEventInformationGrp

FieldValueIRS element (for citing)
Event1SPRING GALAEvent1Nm
Gross Receipts Event1$85,195GrossReceiptsEvent1Amt
Charitable Contri Event1$68,645CharitableContriEvent1Amt
Gross Revenue Event1$16,550GrossRevenueEvent1Amt
Food And Beverage Event1$10,712FoodAndBeverageEvent1Amt
Other Direct Expenses Event1$13,726OtherDirectExpensesEvent1Amt
Gross Receipts Total$85,195GrossReceiptsTotalAmt
Charitable Contributions Tot$68,645CharitableContributionsTotAmt
Gross Revenue Total Events$16,550GrossRevenueTotalEventsAmt
Food And Beverage Total Events$10,712FoodAndBeverageTotalEventsAmt
Oth Direct Expnss Total Events$13,726OthDirectExpnssTotalEventsAmt
Direct Expense Summary Events$24,438DirectExpenseSummaryEventsAmt
Net Income Summary-$7,888NetIncomeSummaryAmt

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$1,040,069CashGrantAmt
Purpose Of GrantGENERAL SUPPORT.PurposeOfGrantTxt
FieldValueIRS element (for citing)
Total501c3 Org1Total501c3OrgCnt

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$185,917CompensationBasedOnRltdOrgsAmt
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$7,750DeferredCompRltdOrgsAmt
Nontaxable Benefits Filing Org$0NontaxableBenefitsFilingOrgAmt
Nontaxable Benefits Rltd Orgs$19,710NontaxableBenefitsRltdOrgsAmt
Total Compensation Filing Org$0TotalCompensationFilingOrgAmt
Total Compensation Rltd Orgs$213,377TotalCompensationRltdOrgsAmt
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 2015. 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 11FORM 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 OrgYes (1)PerformOfServicesForOthOrgInd
Perform Of Services By Other Org0PerformOfServicesByOtherOrgInd
Sharing Of FacilitiesYes (1)SharingOfFacilitiesInd
Paid Employees Sharing0PaidEmployeesSharingInd
Reimbursement Paid To Other Org0ReimbursementPaidToOtherOrgInd
Reimbursement Paid By Other Org0ReimbursementPaidByOtherOrgInd
Transfer To Other Org0TransferToOtherOrgInd
Transfer From Other Org0TransferFromOtherOrgInd

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