2026-04-06T14:59:30-05:00 2025-06-30 161092347 MENGEL METZGER BARR & CO LLP 370 WOODCLIFF DRIVE SUITE 2A FAIRPORT NY 14450 990 2024-07-01 731684599 FRIENDS OF PUBLIC PREP ACADEMIES INC FRIE 7188820231 192 EAST 151 STREET 1ST FLOOR BRONX NY 10451 MARK DIKER CHAIR 7188820231 2026-03-18 1 1 JACQUELINE B LEE CPA P00842765 5854231860 2026-03-18 2024 2025-03-06 01:10:19Z MARK DIKER 192 EAST 151 STREET 1ST FLOOR BRONX NY 10451 13576700 0 X WWW.PUBLICPREP.ORG X 2004 NY FRIENDS OF PUBLIC PREP ACADEMIES INC WAS ORGANIZED TO CREATE GIRLS PREP CHARTER SCHOOL OF NY (NOW KNOWN AS PUBLIC PREP CHARTER SCHOOL ACADEMIES), SUPPORT THE SCHOOL AND ITS STUDENTS, AND MAKE CONTRIBUTIONS TO THE SCHOOL, WITH THE GOAL OF PROMOTING EDUCATIONAL ACHIEVEMENT. 3 3 0 3 0 0 0 14461 0 0 0 1453 1159954 2156189 1159954 2172103 0 0 0 0 322 24708 0 0 0 250978 665413 251300 690121 908654 1481982 75267342 167307528 74513773 165071977 753569 2235551 X FRIENDS OF PUBLIC PREP ACADEMIES INC WAS ORGANIZED TO CREATE GIRLS PREP CHARTER SCHOOL OF NY (NOW KNOWN AS PUBLIC PREP CHARTER SCHOOL ACADEMIES), SUPPORT THE SCHOOL AND ITS STUDENTS, AND MAKE CONTRIBUTIONS TO THE SCHOOL, WITH THE GOAL OF PROMOTING EDUCATIONAL ACHIEVEMENT. 0 0 324114 2127064 FRIENDS OF PUBLIC PREP ACADEMIES INC'S PURPOSE IS TO SUPPORT PUBLIC PREP CHARTER SCHOOL ACADEMIES, ITS AFFILIATE. PUBLIC PREP CHARTER SCHOOL ACADEMIES (PPA) IS A PUBLIC CHARTER SCHOOL EDUCATION CORP. FRIENDS OF PUBLIC PREP ACADEMIES ASSISTS PPA IN OBTAINING ADEQUATE FACILITIES IN WHICH TO OPERATE ITS SCHOOLS. 324114 1 1 0 0 0 0 0 0 0 0 1 0 0 1 1 1 0 1 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 1 1 0 0 0 1 10 0 0 0 0 0 0 0 0 0 0 0 0 0 0 X 3 3 0 1 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 0 0 0 NY X X VIKAS KAUSHAL CHIEF FINANCIAL OFFICER 7188820231 192 EAST 151 STREET 1ST FLOOR BRONX NY 10451 LAURA WEIL SECRETARY 1.00 1.00 X X 0 0 0 MARK DIKER CHAIR 1.00 X X 0 0 0 MARGERY MAYER DIRECTOR 1.00 X 0 0 0 JANELLE BRADSHAW CEO, PPN THRU AUG 2024 1.00 41.00 X 0 354896 33773 0 354896 33773 0 0 1 0 PROFESSIONAL CHARTER SOLUTIONS INC PO BOX 568 BRONX NY 10465 SECURITY 281960 PROCLEAN MAINTENANCE SYSTEMS INC 79 ALEXANDER AVENUE B10 BRONX NY 10454 CUSTODIAL SERVICES 241571 L&M SIGNS 62 PARSIPPANY BLVD BOONTON NJ 07005 PROFESSIONAL DESIGN SERVICES 161605 ABOUT THE WORK 40 EXCHANGE PLACE SUITE 1405 NEW YORK NY 10005 PROJECT MANAGEMENT CONSULTING 106000 4 14461 14461 1453 1453 13530208 11404597 2125611 2125611 2125611 FORGIVENESS OF RELATED PARTY DEBT 900099 30578 30578 30578 2172103 2156189 0 1453 24708 24708 195327 195327 11802 11802 13180 13180 9689 9689 2274 2274 OTHER 331336 331336 EQUIPMENT / FURNISHINGS 101397 101397 STAFF DEVELOPMENT 408 408 690121 324114 366007 0 2023802 1513253 2592127 7657036 950280 950280 224740 281991 17173525 3047870 14697659 14125655 54778734 142779313 75267342 167307528 853044 1111334 6130743 5994798 67529986 157965845 74513773 165071977 X 753569 2235551 753569 2235551 75267342 167307528 1481982 0 X X 0 1 X 1 0 X X 1 PUBLIC PREP CHARTER SCHOOL ACADEMIES 810650329 2 1 0 0 1 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 17098095 3022614 14075481 39445 5597 33848 35985 19659 16326 14125655 SECURITY DEPOSITS 489220 RIGHT-OF-USE ASSETS - OPERATING 142290093 142779313 DUE TO RELATED PARTY 8050669 LEASE LIABILITIES - OPERATING 149915176 157965845 X 13576700 11404597 11404597 2172103 0 2172103 12094718 11404597 11404597 690121 0 690121 PART X, LINE 2: THE ORGANIZATION IS A TAX-EXEMPT ORGANIZATION UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE AND APPLICABLE STATE REGULATIONS AND, ACCORDINGLY, IS EXEMPT FROM FEDERAL AND STATE TAXES ON INCOME. PUBLIC PREP ACADEMIES AND FRIENDS FILE FORM 990 TAX RETURNS IN THE U.S. FEDERAL JURISDICTION. IN ADDITION, FRIENDS FILES IN NEW YORK. THE ORGANIZATION'S CURRENT AND PRIOR THREE YEARS TAX RETURNS REMAIN SUBJECT TO REVIEW BY TAXING AUTHORITIES. MANAGEMENT OF THE ORGANIZATION BELIEVES IT HAS NO MATERIAL UNCERTAIN TAX POSITIONS AND, ACCORDINGLY, IT HAS NOT RECOGNIZED ANY LIABILITY FOR UNRECOGNIZED TAX BENEFITS. PART XI, LINE 2D - OTHER ADJUSTMENTS: DIRECT RENTAL EXPENSES RECORDED ON PART VIII 11,404,597. PART XII, LINE 2D - OTHER ADJUSTMENTS: DIRECT RENTAL EXPENSES RECORDED ON PART VIII 11,404,597. 1 0 0 0 0 0 0 0 0 JANELLE BRADSHAW CEO, PPN THRU AUG 2024 0 229096 0 0 0 125800 0 11919 0 21854 0 388669 0 0 PART I, LINE 4A EFFECTIVE IN AUGUST 2024, PUBLIC PREPARATORY NETWORK, INC. ENTERED INTO A SEPARATION AGREEMENT WITH JANELLE BRADSHAW, WHO WAS THE CEO. THE SEPARATION AGREEMENT WAS PUT IN PLACE OUTLINING SEVERANCE BENEFITS THAT PUBLIC PREPARATORY NETWORK, INC. WOULD BE PROVIDING DURING THE FOLLOWING TEN MONTHS (THE "SEVERANCE PERIOD") WHICH INCLUDED - -- TERMINATION OF GROUP HEALTH AND DENTAL INSURANCE COVERAGE. -- ABILITY TO CONTINUE INSURANCE COVERAGE UNDER COBRA DURING THE SEVERANCE PERIOD DURING WHICH PUBLIC PREPARATORY NETWORK, INC. WILL PAY ONE HUNDRED PERCENT OF THE MONTHLY PREMIUMS. -- WILL PROVIDE SEVERANCE PAY IN FORM OF A SALARY CONTINUATION FOR A PERIOD OF UP TO TEN MONTHS PAID OUT AT THE FORMER CEO'S THEN-CURRENT BASE SALARY IN ACCORDANCE TO PUBLIC PREPARATORY NETWORK'S REGULAR PAYROLL SCHEDULE. FORM 990, PART VI, SECTION A, LINE 3 THE ORGANIZATION DELEGATES CERTAIN MANAGEMENT RESPONSIBILTIES TO PUBLIC PREPARATORY NETWORK, INC., A 501(C)(3) TAX-EXEMPT ORGANIZATION. TWO OF THE THREE MEMBERS OF THE FOPP'S GOVERNING BODY ALSO SERVE ON THE GOVERNING BODY OF PPN. THE ORGANIZATIONS DO NOT HAVE ANY OWNERSHIP OR ECONOMIC INTEREST IN ONE ANOTHER, AND OPERATE INDEPENDENTLY. ACCORDINGLY, THE ORGANIZATIONS ARE NOT CONSIDERED RELATED FOR FINANCIAL REPORTING OR FORM 990 PURPOSES. THE ORGANIZATION DOES NOT PAY JANELLE BRADSHAW FOR HER SERVICES AS AN OFFICER OF THE ORGANIZATION. THE AMOUNTS LISTED ON PART VII, SECTION A REPRESENT AMOUNTS PAID BY PUBLIC PREPARATORY NETWORK, INC. TO JANELLE BRADSHAW FOR SERVICES PERFORMED AS AN EMPLOYEE OF PUBLIC PREPARATORY NETWORK, INC. FORM 990, PART VI, SECTION B, LINE 11B THE 990 IS PREPARED WITH THE ASSISTANCE OF THE FINANCIAL CONSULTANT AND REVIEWED BY THE CFO. THE FINANCE COMMITTEE REVIEWS THE DRAFT 990 BEFORE IT IS FILED. THE ENTIRE FORM 990 IS EMAILED TO ALL BOARD MEMBERS PRIOR TO FILING WITH THE IRS. FORM 990, PART VI, SECTION B, LINE 12C ALL NEW MEMBERS ARE REQUIRED TO SIGN THE CONFLICT OF INTEREST POLICY. BOARD MEMBERS ARE BOUND BY FIDUCIARY DUTY TO DISCLOSE ANY CONFLICTS. ANNUALLY A RESOLUTION IS ADOPTED REAFFIRMING A COMMITMENT TO THE POLICY. FORM 990, PART VI, SECTION C, LINE 19 THESE DOCUMENTS ARE LOCATED AT THE ORGANIZATION AND ARE AVAILABLE UPON REQUEST. FORM 990, PART XII, LINE 2C EXPLANATION THE BOARD HAS NOT CHANGED ITS PROCESS FOR SELECTING THE INDEPENDENT AUDITOR NOR HAVE THEY CHANGED THE OVERSIGHT OF THE AUDIT FROM PRIOR YEARS. FORM 990, PART IX, LINE 11A EXPLANATION EMPLOYEES OF PPA SPEND PART OF THEIR TIME DOING WORK FOR FOPPA. THE EMPLOYEES RECEIVE THEIR W2S FROM PPA AND FOPPA REIMBURSES PPA FOR THEIR TIME WORKING ON FOPPA. GIRLS PREP BRONX II LLC 192 EAST 151ST STREET FLOOR 5 BRONX NY 10451 REAL ESTATE HOLDING COMPANY NY 6883012 4600000 FRIENDS OF PUBLIC PREP ACADEMIES INC PUBLIC PREP CHARTER SCHOOL ACADEMIES 192 EAST 151ST ST BRONX NY 10451 810650329 CHARTER SCHOOL NY 501(C)(3) LINE 2 0 0 0 0 0 1 0 0 0 0 1 0 0 0 0 0 0 0 0 0 PUBLIC PREP CHARTER SCHOOL ACADEMIES J 13530208 FMV PUBLIC PREP CHARTER SCHOOL ACADEMIES E 8050669 FMV