BETA

BROOKLYN PROSPECT CHARTER SCHOOL: Form 990, tax year 2024

View the entire original 990 at ProPublica ↗

Organization
BROOKLYN PROSPECT CHARTER SCHOOL (EIN 26-3206518)
Tax period
2024-07-01 to 2025-06-30
Filed
2026-05-15
IRS object ID
202631369349300808
Schema version
2024v5.5
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)
Return2026-05-15T22:56:11-05:00ReturnTs
Tax Period End2025-06-30TaxPeriodEndDt

Preparer Firm PreparerFirmGrp

FieldValueIRS element (for citing)
Preparer Firm EIN331374517PreparerFirmEIN

Preparer Firm Name PreparerFirmName

FieldValueIRS element (for citing)
Business Name Line1PKF O'CONNOR DAVIES ADVISORY LLCBusinessNameLine1Txt

Preparer US Address PreparerUSAddress

FieldValueIRS element (for citing)
Address Line1300 TICE BOULEVARD SUITE 315AddressLine1Txt
CityWOODCLIFF LAKECityNm
State AbbreviationNJStateAbbreviationCd
ZIP07677ZIPCd
FieldValueIRS element (for citing)
Return Type990ReturnTypeCd
Tax Period Begin2024-07-01TaxPeriodBeginDt

Filer Filer

FieldValueIRS element (for citing)
EIN263206518EIN

Business Name BusinessName

FieldValueIRS element (for citing)
Business Name Line1BROOKLYN PROSPECT CHARTER SCHOOLBusinessNameLine1Txt
FieldValueIRS element (for citing)
Business Name ControlBROOBusinessNameControlTxt
Phone7186431086PhoneNum

US Address USAddress

FieldValueIRS element (for citing)
Address Line1397 BRIDGE STREET 9TH FLOORAddressLine1Txt
CityBROOKLYNCityNm
State AbbreviationNYStateAbbreviationCd
ZIP11201ZIPCd

Business Officer BusinessOfficerGrp

FieldValueIRS element (for citing)
PersonHILLARY PRINCEPersonNm
Person TitleCFOPersonTitleTxt
Phone7186431086PhoneNum
Signature2026-05-15SignatureDt
Discuss With Paid PreparerYes (1)DiscussWithPaidPreparerInd
FieldValueIRS element (for citing)
IRS Responsible Prty Info CurrYes (1)IRSResponsiblePrtyInfoCurrInd

Preparer Person PreparerPersonGrp

FieldValueIRS element (for citing)
Preparer PersonSACHA RICHARDSPreparerPersonNm
PTINP01378509PTIN
Phone2017129800PhoneNum
Preparation2026-05-14PreparationDt
FieldValueIRS element (for citing)
Tax2024TaxYr
Build TS2025-03-06 01:10:19ZBuildTS

Form 990 IRS990

FieldValueIRS element (for citing)
Principal OfficerHILLARY PRINCEPrincipalOfficerNm

US Address USAddress

FieldValueIRS element (for citing)
Address Line1397 BRIDGE STREET 9TH FLOORAddressLine1Txt
CityBROOKLYNCityNm
State AbbreviationNYStateAbbreviationCd
ZIP11201ZIPCd
FieldValueIRS element (for citing)
Gross Receipts$73,365,452GrossReceiptsAmt
Group Return For Affiliates0GroupReturnForAffiliatesInd
Organization501c3Yes (X)Organization501c3Ind
Website AddressWWW.BROOKLYNPROSPECT.ORGWebsiteAddressTxt
Type Of Organization CorpYes (X)TypeOfOrganizationCorpInd
Formation2008FormationYr
Legal Domicile StateNYLegalDomicileStateCd
Activity Or MissionOUR SCHOOL PREPARES STUDENTS FOR SUCCESS AS GLOBAL CITIZENS.ActivityOrMissionDesc
Voting Members Governing Body5VotingMembersGoverningBodyCnt
Voting Members Independent5VotingMembersIndependentCnt
Total Employee488TotalEmployeeCnt
Total Volunteers50TotalVolunteersCnt
Total Gross UBI$0TotalGrossUBIAmt
Net Unrelated Bus Txbl Incm$0NetUnrelatedBusTxblIncmAmt
PY Contributions Grants$4,828,143PYContributionsGrantsAmt
CY Contributions Grants$2,718,710CYContributionsGrantsAmt
PY Program Service Revenue$62,967,019PYProgramServiceRevenueAmt
CY Program Service Revenue$70,261,880CYProgramServiceRevenueAmt
PY Investment Income$243,746PYInvestmentIncomeAmt
CY Investment Income$301,574CYInvestmentIncomeAmt
PY Other Revenue$112,045PYOtherRevenueAmt
CY Other Revenue$83,288CYOtherRevenueAmt
PY Total Revenue$68,150,953PYTotalRevenueAmt
CY Total Revenue$73,365,452CYTotalRevenueAmt
PY Grants And Similar Paid$0PYGrantsAndSimilarPaidAmt
CY Grants And Similar Paid$0CYGrantsAndSimilarPaidAmt
PY Benefits Paid To Members$0PYBenefitsPaidToMembersAmt
CY Benefits Paid To Members$0CYBenefitsPaidToMembersAmt
PY Salaries Comp Emp Bnft Paid$36,358,115PYSalariesCompEmpBnftPaidAmt
CY Salaries Comp Emp Bnft Paid$39,645,805CYSalariesCompEmpBnftPaidAmt
PY Total Prof Fndrsng Expns$0PYTotalProfFndrsngExpnsAmt
CY Total Prof Fndrsng Expns$0CYTotalProfFndrsngExpnsAmt
CY Total Fundraising Expense$164,841CYTotalFundraisingExpenseAmt
PY Other Expenses$32,404,045PYOtherExpensesAmt
CY Other Expenses$36,707,023CYOtherExpensesAmt
PY Total Expenses$68,762,160PYTotalExpensesAmt
CY Total Expenses$76,352,828CYTotalExpensesAmt
PY Revenues Less Expenses-$611,207PYRevenuesLessExpensesAmt
CY Revenues Less Expenses-$2,987,376CYRevenuesLessExpensesAmt
Total Assets BOY$266,566,907TotalAssetsBOYAmt
Total Assets EOY$305,068,095TotalAssetsEOYAmt
Total Liabilities BOY$258,525,796TotalLiabilitiesBOYAmt
Total Liabilities EOY$300,014,360TotalLiabilitiesEOYAmt
Net Assets Or Fund Balances BOY$8,041,111NetAssetsOrFundBalancesBOYAmt
Net Assets Or Fund Balances EOY$5,053,735NetAssetsOrFundBalancesEOYAmt
Info In Schedule O Part IIIYes (X)InfoInScheduleOPartIIIInd
MissionSERVING KINDERGARTEN THROUGH TWELFTH GRADE, BROOKLYN PROSPECT PAIRS STUDENTS WITH EXCELLENT TEACHERS IN A COLLEGE PREPARATORY ENVIRONMENT USING THE INTERNATIONAL BACCALAUREATE PROGRAM. WE PREPARE STUDENTS TO BECOME GLOBAL CITIZENS AND HELP THEM TO DEVELOP THE LOVE OF LEARNING THAT PROVIDES THE FOUNDATION FOR LIFELONG PERSONAL AND ACADEMIC SUCCESS.MissionDesc
Significant New Program Srvc0SignificantNewProgramSrvcInd
Significant Change0SignificantChangeInd
Expense$63,945,958ExpenseAmt
Grant$0GrantAmt
Revenue$70,261,880RevenueAmt
DescBROOKLYN PROSPECT CHARTER SCHOOL IS AN EDUCATIONAL CORPORATION THAT OPERATES SEVEN CHARTER SCHOOLS IN THE BOROUGH OF BROOKLYN, NEW YORK. AT BROOKLYN PROSPECT, WE BELIEVE THAT FAMILIES SHOULDN'T HAVE TO CHOOSE BETWEEN STRONG ACADEMICS AND A DIVERSE COMMUNITY. AT THE HEART OF OUR PROGRAM ARE THREE COMMITMENTS: DIVERSITY, WORLD-CLASS ACADEMICS, AND EXCELLENT TEACHING. FOR THE 2024-2025 SCHOOL YEAR, WE SERVED 2,633 STUDENTS IN GRADES KINDERGARTEN THROUGH 12TH GRADE.Desc
Total Program Service Expenses$63,945,958TotalProgramServiceExpensesAmt
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
Donor Rstr Or Quasi Endowments0DonorRstrOrQuasiEndowmentsInd
Report Land Building EquipmentYes (1)ReportLandBuildingEquipmentInd
Report Investments Other Sec0ReportInvestmentsOtherSecInd
Report Program Related Invst0ReportProgramRelatedInvstInd
Report Other AssetsYes (1)ReportOtherAssetsInd
Report Other LiabilitiesYes (1)ReportOtherLiabilitiesInd
Include FIN48 FootnoteYes (1)IncludeFIN48FootnoteInd
Independent Audit Fincl StmtYes (1)IndependentAuditFinclStmtInd
Consolidated Audit Fincl Stmt0ConsolidatedAuditFinclStmtInd
School OperatingYes (1)SchoolOperatingInd
Foreign Office0ForeignOfficeInd
Foreign Activities0ForeignActivitiesInd
More Than5000 K To Org0MoreThan5000KToOrgInd
More Than5000 K To Individuals0MoreThan5000KToIndividualsInd
Professional Fundraising0ProfessionalFundraisingInd
Fundraising Activities0FundraisingActivitiesInd
Gaming Activities0GamingActivitiesInd
Operate Hospital0OperateHospitalInd
Grants To Organizations0GrantsToOrganizationsInd
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 With35 Ctrl Ent0BusinessRlnWith35CtrlEntInd
Deductible Non Cash Contri0DeductibleNonCashContriInd
Deductible Art Contribution0DeductibleArtContributionInd
Terminate Operations0TerminateOperationsInd
Partial Liquidation0PartialLiquidationInd
Disregarded Entity0DisregardedEntityInd
Related Entity0RelatedEntityInd
Related Organization Ctrl Ent0RelatedOrganizationCtrlEntInd
Trnsfr Exmpt Non Chrtbl Rltd Org0TrnsfrExmptNonChrtblRltdOrgInd
Activities Conducted Prtshp0ActivitiesConductedPrtshpInd
Schedule O RequiredYes (1)ScheduleORequiredInd
IRP Document91IRPDocumentCnt
IRP Document W2 G0IRPDocumentW2GCnt
Employee488EmployeeCnt
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 Contributions0QuidProQuoContributionsInd
Form8282 Property Disposed Of0Form8282PropertyDisposedOfInd
Rcv Fnds To Pay Prsnl Bnft Cntrct0RcvFndsToPayPrsnlBnftCntrctInd
Pay Premiums Prsnl Bnft Cntrct0PayPremiumsPrsnlBnftCntrctInd
Indoor Tanning Services0IndoorTanningServicesInd
Subj To Tax Rmnrtn Ex Prcht Pymt0SubjToTaxRmnrtnExPrchtPymtInd
Subject To Excs Tax Net Invst Inc0SubjectToExcsTaxNetInvstIncInd
Info In Schedule O Part VIYes (X)InfoInScheduleOPartVIInd
Governing Body Voting Members5GoverningBodyVotingMembersCnt
Independent Voting Member5IndependentVotingMemberCnt
Family Or Business Rln0FamilyOrBusinessRlnInd
Delegation Of Mgmt DutiesYes (1)DelegationOfMgmtDutiesInd
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 CommitteesYes (1)MinutesOfCommitteesInd
Officer Mailing Address0OfficerMailingAddressInd
Local Chapters0LocalChaptersInd
Form990 Provided To Gvrn Body0Form990ProvidedToGvrnBodyInd
Conflict Of Interest PolicyYes (1)ConflictOfInterestPolicyInd
Annual Disclosure Covered PrsnYes (1)AnnualDisclosureCoveredPrsnInd
Regular Monitoring EnfrcYes (1)RegularMonitoringEnfrcInd
Whistleblower PolicyYes (1)WhistleblowerPolicyInd
Document Retention PolicyYes (1)DocumentRetentionPolicyInd
Compensation Process CEO0CompensationProcessCEOInd
Compensation Process Other0CompensationProcessOtherInd
Investment In Joint Venture0InvestmentInJointVentureInd
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)
Phone7186431086PhoneNum

US Address USAddress

FieldValueIRS element (for citing)
Address Line1397 BRIDGE STREET 9TH FLOORAddressLine1Txt
CityBROOKLYNCityNm
State AbbreviationNYStateAbbreviationCd
ZIP11201ZIPCd

Form990 Part VII Section A Form990PartVIISectionAGrp (13 entries)

TitleTitleTxtAverage Hours Per WeekAverageHoursPerWeekRtIndividual Trustee Or DirectorIndividualTrusteeOrDirectorIndOfficerOfficerIndReportable Comp From OrgReportableCompFromOrgAmtReportable Comp From Rltd OrgReportableCompFromRltdOrgAmtOther CompensationOtherCompensationAmtHighest Compensated EmployeeHighestCompensatedEmployeeInd
GRAVELLE PIERRE
BOARD CHAIR4.00Yes (X)Yes (X)$0$0$0
MAYA PETROCELLI
SECRETARY THRU 7/241.00Yes (X)Yes (X)$0$0$0
JOANNE GRACE RODRUGUEZ
SECRETARY EFF. 7/241.00Yes (X)Yes (X)$0$0$0
SAGAR DESAI
TREASURER1.00Yes (X)Yes (X)$0$0$0
SARA KEENAN
TRUSTEE THRU 6/251.00Yes (X)$0$0$0
ANTOINETTE KORAM CHUKUDEBELU
TRUSTEE1.00Yes (X)$0$0$0
THERESA SANCHEZ
TRUSTEE EFF. 6/251.00Yes (X)$0$0$0
HILLARY PRINCE
CFO1.00Yes (X)$0$242,034$51,962
EMILY CARROLL-CHOCOLAAD
PRINCIPAL40.00$168,004$0$40,549Yes (X)
RYAN AMOS
PRINCIPAL40.00$136,409$0$16,893Yes (X)
MATTHEW ELLIS
PRINCIPAL40.00$156,877$0$13,160Yes (X)
FOLAKE AKINOLA-PINARD
PRINCIPAL40.00$144,705$0$52,430Yes (X)
WENDELL CHEUNG
PRINCIPAL40.00$141,173$0$17,961Yes (X)
FieldValueIRS element (for citing)
Total Reportable Comp From Org$747,168TotalReportableCompFromOrgAmt
Tot Reportable Comp Rltd Org$242,034TotReportableCompRltdOrgAmt
Total Other Compensation$192,955TotalOtherCompensationAmt
Indiv Rcvd Greater Than100 K49IndivRcvdGreaterThan100KCnt
Former Ofcr Employees Listed0FormerOfcrEmployeesListedInd
Total Comp Greater Than150 KYes (1)TotalCompGreaterThan150KInd
Compensation From Other Srcs0CompensationFromOtherSrcsInd

Contractor Compensation ContractorCompensationGrp (4 entries)

Address Line1ContractorAddress/USAddress/AddressLine1TxtCityContractorAddress/USAddress/CityNmState AbbreviationContractorAddress/USAddress/StateAbbreviationCdZIPContractorAddress/USAddress/ZIPCdServicesServicesDescCompensationCompensationAmt
PROSPECT SCHOOLS INC
397 BRIDGE STREET 9TH FLOORBROOKLYNNY11201MANAGEMENT SERVICES$10,489,368
CHARTER TECHNOLOGY SOLUTIONS
132 32ND STREET SUITE 310BROOKLYNNY11232IT SERVICES$523,729
SCHOOL PROFESSIONALS
622 THRID AVENUENEW YORKNY10017SUBSTITUE SERVICES$168,134
RIPPLE RESTORATION LLC
65-22 FRESH MEDOW LANEFRESH MEADOWSNY11365MOLD REMIDIATION SERVICES$113,922
FieldValueIRS element (for citing)
Cntrct Rcvd Greater Than100 K4CntrctRcvdGreaterThan100KCnt
Government Grants$2,363,556GovernmentGrantsAmt
All Other Contributions$355,154AllOtherContributionsAmt
Total Contributions$2,718,710TotalContributionsAmt

Program Service Revenue ProgramServiceRevenueGrp

FieldValueIRS element (for citing)
DescGOV'T PER-PUPIL REVENUEDesc
Business611110BusinessCd
Total Revenue Column$70,261,880TotalRevenueColumnAmt
Related Or Exempt Func Income$70,261,880RelatedOrExemptFuncIncomeAmt
FieldValueIRS element (for citing)
Total Program Service Revenue$70,261,880TotalProgramServiceRevenueAmt

Investment Income InvestmentIncomeGrp

FieldValueIRS element (for citing)
Total Revenue Column$301,574TotalRevenueColumnAmt
Exclusion$301,574ExclusionAmt

Other Revenue Misc OtherRevenueMiscGrp (3 entries)

DescDescBusinessBusinessCdTotal Revenue ColumnTotalRevenueColumnAmtExclusionExclusionAmt
REFUNDS900099$55,248$55,248
MISCELLANEOUS INCOME900099$26,540$26,540
VENDING MACHINE900099$1,500$1,500
FieldValueIRS element (for citing)
Other Revenue Total$83,288OtherRevenueTotalAmt

Total Revenue TotalRevenueGrp

FieldValueIRS element (for citing)
Total Revenue Column$73,365,452TotalRevenueColumnAmt
Related Or Exempt Func Income$70,261,880RelatedOrExemptFuncIncomeAmt
Unrelated Business Revenue$0UnrelatedBusinessRevenueAmt
Exclusion$384,862ExclusionAmt

Other Salaries And Wages OtherSalariesAndWagesGrp

FieldValueIRS element (for citing)
Total$31,671,940TotalAmt
Program Services$29,850,694ProgramServicesAmt
Management And General$1,789,033ManagementAndGeneralAmt
Fundraising$32,213FundraisingAmt

Other Employee Benefits OtherEmployeeBenefitsGrp

FieldValueIRS element (for citing)
Total$5,559,731TotalAmt
Program Services$5,240,585ProgramServicesAmt
Management And General$313,487ManagementAndGeneralAmt
Fundraising$5,659FundraisingAmt

Payroll Taxes PayrollTaxesGrp

FieldValueIRS element (for citing)
Total$2,414,134TotalAmt
Program Services$2,275,557ProgramServicesAmt
Management And General$136,120ManagementAndGeneralAmt
Fundraising$2,457FundraisingAmt

Fees For Services Management FeesForServicesManagementGrp

FieldValueIRS element (for citing)
Total$10,489,368TotalAmt
Program Services$4,305,257ProgramServicesAmt
Management And General$6,081,042ManagementAndGeneralAmt
Fundraising$103,069FundraisingAmt

Fees For Services Legal FeesForServicesLegalGrp

FieldValueIRS element (for citing)
Total$146,693TotalAmt
Management And General$146,693ManagementAndGeneralAmt

Fees For Services Accounting FeesForServicesAccountingGrp

FieldValueIRS element (for citing)
Total$82,675TotalAmt
Management And General$82,675ManagementAndGeneralAmt

Fees For Services Other FeesForServicesOtherGrp

FieldValueIRS element (for citing)
Total$869,484TotalAmt
Program Services$543,628ProgramServicesAmt
Management And General$325,664ManagementAndGeneralAmt
Fundraising$192FundraisingAmt

Office Expenses OfficeExpensesGrp

FieldValueIRS element (for citing)
Total$1,290,022TotalAmt
Program Services$1,153,180ProgramServicesAmt
Management And General$136,279ManagementAndGeneralAmt
Fundraising$563FundraisingAmt

Information Technology InformationTechnologyGrp

FieldValueIRS element (for citing)
Total$676,897TotalAmt
Program Services$663,389ProgramServicesAmt
Management And General$13,272ManagementAndGeneralAmt
Fundraising$236FundraisingAmt

Occupancy OccupancyGrp

FieldValueIRS element (for citing)
Total$19,530,322TotalAmt
Program Services$18,393,611ProgramServicesAmt
Management And General$1,116,409ManagementAndGeneralAmt
Fundraising$20,302FundraisingAmt

Conferences Meetings ConferencesMeetingsGrp

FieldValueIRS element (for citing)
Total$96,137TotalAmt
Program Services$96,137ProgramServicesAmt

Depreciation Depletion DepreciationDepletionGrp

FieldValueIRS element (for citing)
Total$1,564,029TotalAmt
Management And General$1,564,029ManagementAndGeneralAmt

Insurance InsuranceGrp

FieldValueIRS element (for citing)
Total$419,865TotalAmt
Management And General$419,865ManagementAndGeneralAmt

Other Expenses OtherExpensesGrp (4 entries)

DescDescTotalTotalAmtProgram ServicesProgramServicesAmtManagement And GeneralManagementAndGeneralAmtFundraisingFundraisingAmt
CURRICULUM & CLASSROOM$1,392,012$1,384,513$7,354$145
MISCELLANEOUS EXPENSES$64,923$64,918$5
PROFESSIONAL DEVELOP.$38,897$38,897
REPAIRS & MAINTENANCE$34,791$34,791

All Other Expenses AllOtherExpensesGrp

FieldValueIRS element (for citing)
Total$10,908TotalAmt
Program Services$4,616ProgramServicesAmt
Management And General$6,292ManagementAndGeneralAmt

Total Functional Expenses TotalFunctionalExpensesGrp

FieldValueIRS element (for citing)
Total$76,352,828TotalAmt
Program Services$63,945,958ProgramServicesAmt
Management And General$12,242,029ManagementAndGeneralAmt
Fundraising$164,841FundraisingAmt

Cash Non Interest Bearing CashNonInterestBearingGrp

FieldValueIRS element (for citing)
BOY$2,345,268BOYAmt
EOY$1,877,339EOYAmt

Savings And Temp Cash Invst SavingsAndTempCashInvstGrp

FieldValueIRS element (for citing)
BOY$7,792,102BOYAmt
EOY$8,149,057EOYAmt

Pledges And Grants Receivable PledgesAndGrantsReceivableGrp

FieldValueIRS element (for citing)
BOY$1,728,709BOYAmt
EOY$1,309,159EOYAmt

Accounts Receivable AccountsReceivableGrp

FieldValueIRS element (for citing)
BOY$100,000BOYAmt
EOY$100,000EOYAmt

Prepaid Expenses Defrd Charges PrepaidExpensesDefrdChargesGrp

FieldValueIRS element (for citing)
BOY$30,132BOYAmt
EOY$171,355EOYAmt
FieldValueIRS element (for citing)
Land Bldg Equip Cost Or Other Bss$16,258,476LandBldgEquipCostOrOtherBssAmt
Land Bldg Equip Accum Deprec$8,736,180LandBldgEquipAccumDeprecAmt

Land Bldg Equip Basis Net LandBldgEquipBasisNetGrp

FieldValueIRS element (for citing)
BOY$7,517,825BOYAmt
EOY$7,522,296EOYAmt

Other Assets Total OtherAssetsTotalGrp

FieldValueIRS element (for citing)
BOY$247,052,871BOYAmt
EOY$285,938,889EOYAmt

Total Assets TotalAssetsGrp

FieldValueIRS element (for citing)
BOY$266,566,907BOYAmt
EOY$305,068,095EOYAmt

Accounts Payable Accr Expnss AccountsPayableAccrExpnssGrp

FieldValueIRS element (for citing)
BOY$672,080BOYAmt
EOY$1,096,258EOYAmt

Mortg Notes Pybl Scrd Invst Prop MortgNotesPyblScrdInvstPropGrp

FieldValueIRS element (for citing)
BOY$1,640,000BOYAmt
EOY$1,080,001EOYAmt

Other Liabilities OtherLiabilitiesGrp

FieldValueIRS element (for citing)
BOY$256,213,716BOYAmt
EOY$297,838,101EOYAmt

Total Liabilities TotalLiabilitiesGrp

FieldValueIRS element (for citing)
BOY$258,525,796BOYAmt
EOY$300,014,360EOYAmt
FieldValueIRS element (for citing)
Organization Follows FASB117Yes (X)OrganizationFollowsFASB117Ind

No Donor Restriction Net Assets NoDonorRestrictionNetAssetsGrp

FieldValueIRS element (for citing)
BOY$8,041,111BOYAmt
EOY$5,053,735EOYAmt

Total Net Assets Fund Balance TotalNetAssetsFundBalanceGrp

FieldValueIRS element (for citing)
BOY$8,041,111BOYAmt
EOY$5,053,735EOYAmt

Tot Liab Net Assets Fund Balance TotLiabNetAssetsFundBalanceGrp

FieldValueIRS element (for citing)
BOY$266,566,907BOYAmt
EOY$305,068,095EOYAmt
FieldValueIRS element (for citing)
Reconcilation Revenue Expnss-$2,987,376ReconcilationRevenueExpnssAmt
Other Changes In Net Assets$0OtherChangesInNetAssetsAmt
Info In Schedule O Part XIIYes (X)InfoInScheduleOPartXIIInd
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 CommitteeYes (1)AuditCommitteeInd
Federal Grant Audit RequiredYes (1)FederalGrantAuditRequiredInd
Federal Grant Audit PerformedYes (1)FederalGrantAuditPerformedInd

Schedule A IRS990ScheduleA

FieldValueIRS element (for citing)
SchoolYes (X)SchoolInd

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

Leasehold Improvements LeaseholdImprovementsGrp

FieldValueIRS element (for citing)
Other Cost Or Other Basis$8,471,494OtherCostOrOtherBasisAmt
Depreciation$3,821,224DepreciationAmt
Book Value$4,650,270BookValueAmt

Equipment EquipmentGrp

FieldValueIRS element (for citing)
Other Cost Or Other Basis$4,424,030OtherCostOrOtherBasisAmt
Depreciation$2,829,492DepreciationAmt
Book Value$1,594,538BookValueAmt

Other Land Buildings OtherLandBuildingsGrp

FieldValueIRS element (for citing)
Other Cost Or Other Basis$3,362,952OtherCostOrOtherBasisAmt
Depreciation$2,085,464DepreciationAmt
Book Value$1,277,488BookValueAmt
FieldValueIRS element (for citing)
Total Book Value Land Buildings$7,522,296TotalBookValueLandBuildingsAmt

Other Assets Org OtherAssetsOrgGrp (3 entries)

DescDescBook ValueBookValueAmt
RIGHT OF USE ASSETS$282,840,411
SECURITY DEPOSIT$2,816,315
DUE FROM AFFLIATE$282,163
FieldValueIRS element (for citing)
Total Book Value Other Assets$285,938,889TotalBookValueOtherAssetsAmt

Other Liabilities Org OtherLiabilitiesOrgGrp

FieldValueIRS element (for citing)
DescLEASE LIABITIESDesc
Amt$297,838,101Amt
FieldValueIRS element (for citing)
Total Liability$297,838,101TotalLiabilityAmt
Footnote TextYes (X)FootnoteTextInd
Total Rev Etc Audited Fincl Stmt$73,365,452TotalRevEtcAuditedFinclStmtAmt
Revenue Not Reported$0RevenueNotReportedAmt
Revenue Subtotal$73,365,452RevenueSubtotalAmt
Revenue Not Reported Fincl Stmt$0RevenueNotReportedFinclStmtAmt
Total Revenue Per Form990$73,365,452TotalRevenuePerForm990Amt
Tot Expns Etc Audited Fincl Stmt$76,352,828TotExpnsEtcAuditedFinclStmtAmt
Expenses Not Reported$0ExpensesNotReportedAmt
Expenses Subtotal$76,352,828ExpensesSubtotalAmt
Expenses Not Rpt Fincl Stmt$0ExpensesNotRptFinclStmtAmt
Total Expenses Per Form990$76,352,828TotalExpensesPerForm990Amt

Supplemental Information Detail SupplementalInformationDetail

FieldValueIRS element (for citing)
Form And Line ReferencePART X, LINE 2:FormAndLineReferenceDesc
ExplanationTHE SCHOOL RECOGNIZES THE EFFECT OF INCOME TAX POSITIONS ONLY IF THOSE POSITIONS ARE MORE LIKELY THAN NOT TO BE SUSTAINED. MANAGEMENT HAS DETERMINED THAT THE SCHOOL HAD NO UNCERTAIN TAX POSITIONS THAT WOULD REQUIRE FINANCIAL STATEMENT RECOGNITION OR DISCLOSURE. THE SCHOOL IS NO LONGER SUBJECT TO EXAMINATIONS BY THE APPLICABLE TAXING JURISDICTIONS FOR YEARS PRIOR TO JUNE 30, 2022.ExplanationTxt

Schedule E IRS990ScheduleE

FieldValueIRS element (for citing)
Nondiscriminatory Policy StmtYes (1)NondiscriminatoryPolicyStmtInd
Policy Stmt In Brochures EtcYes (1)PolicyStmtInBrochuresEtcInd
Plcy Pblczd Via Broadcast Media0PlcyPblczdViaBroadcastMediaInd
Maintain Racial Comp RecsYes (1)MaintainRacialCompRecsInd
Maintain Scholarships RecsYes (1)MaintainScholarshipsRecsInd
Maintain Cpy Of Brochures EtcYes (1)MaintainCpyOfBrochuresEtcInd
Maintain Cpy Of All SolYes (1)MaintainCpyOfAllSolInd
Discriminate Race Stdnts Rghts0DiscriminateRaceStdntsRghtsInd
Discriminate Race Admiss Plcy0DiscriminateRaceAdmissPlcyInd
Discriminate Race Emplm Fculty0DiscriminateRaceEmplmFcultyInd
Discriminate Race Schs0DiscriminateRaceSchsInd
Discriminate Race Educ Plcy0DiscriminateRaceEducPlcyInd
Discriminate Race Use Of Fclts0DiscriminateRaceUseOfFcltsInd
Discriminate Race Athlt Prog0DiscriminateRaceAthltProgInd
Discriminate Race Other Acty0DiscriminateRaceOtherActyInd
Government Financial Aid RcvdYes (1)GovernmentFinancialAidRcvdInd
Government Financial Aid Rvkd0GovernmentFinancialAidRvkdInd
Compliance With Rev Proc7550Yes (1)ComplianceWithRevProc7550Ind

Supplemental Information Detail SupplementalInformationDetail (2 entries)

Form And Line ReferenceFormAndLineReferenceDescExplanationExplanationTxt
SCHEDULE E, PART I, LINE 3AS A PUBLIC SCHOOL, SUBJECT TO OPEN ENROLLMENT, THE CHARTER SCHOOL IS NOT SUBJECT TO THE SPECIFIC GUIDELINES SET FORTH IN REV. PROV. 75-50 AND AS MODIFIED BY REV. PROC. 2019-22.
SCHEDULE E, PART I, LINE 6THE SCHOOL RECEIVES PER-PUPIL FUNDING FROM THE NYC BOARD OF EDUCATION UNDER THEIR CHARTER AGREEMENT. THE SCHOOL ALSO RECEIVES VARIOUS FEDERAL, STATE, AND CITY FUNDS INCLUDING FEDERAL ENTITLEMENTS TO ASSIST WITH COVERING THE COST OF CERTAIN PROGRAMS.

Schedule J IRS990ScheduleJ

FieldValueIRS element (for citing)
Compensation CommitteeYes (X)CompensationCommitteeInd
Form990 Of Other OrganizationsYes (X)Form990OfOtherOrganizationsInd
Compensation SurveyYes (X)CompensationSurveyInd
Board Or Committee ApprovalYes (X)BoardOrCommitteeApprovalInd
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 PaymentsYes (1)AnyNonFixedPaymentsInd
Initial Contract Exception0InitialContractExceptionInd

Rltd Org Officer Trst Key Empl RltdOrgOfficerTrstKeyEmplGrp (6 entries)

TitleTitleTxtBase Compensation Filing OrgBaseCompensationFilingOrgAmtCompensation Based On Rltd OrgsCompensationBasedOnRltdOrgsAmtBonus Filing OrganizationBonusFilingOrganizationAmountBonus Related OrganizationsBonusRelatedOrganizationsAmtOther Compensation Filing OrgOtherCompensationFilingOrgAmtOther Compensation Rltd OrgsOtherCompensationRltdOrgsAmtDeferred Compensation Flng OrgDeferredCompensationFlngOrgAmtDeferred Comp Rltd OrgsDeferredCompRltdOrgsAmtNontaxable Benefits Filing OrgNontaxableBenefitsFilingOrgAmtNontaxable Benefits Rltd OrgsNontaxableBenefitsRltdOrgsAmtTotal Compensation Filing OrgTotalCompensationFilingOrgAmtTotal Compensation Rltd OrgsTotalCompensationRltdOrgsAmtComp Report Prior990 Filing OrgCompReportPrior990FilingOrgAmtComp Report Prior990 Rltd OrgsCompReportPrior990RltdOrgsAmt
HILLARY PRINCE
CFO$0$242,034$0$0$0$0$0$9,986$0$41,976$0$293,996$0$0
EMILY CARROLL-CHOCOLAAD
PRINCIPAL$163,004$0$5,000$0$0$0$0$0$40,549$0$208,553$0$0$0
FOLAKE AKINOLA-PINARD
PRINCIPAL$137,205$0$7,500$0$0$0$6,215$0$46,215$0$197,135$0$0$0
MATTHEW ELLIS
PRINCIPAL$151,877$0$5,000$0$0$0$2,368$0$10,792$0$170,037$0$0$0
WENDELL CHEUNG
PRINCIPAL$141,173$0$0$0$0$0$5,767$0$12,194$0$159,134$0$0$0
RYAN AMOS
PRINCIPAL$112,924$0$23,485$0$0$0$2,785$0$14,108$0$153,302$0$0$0

Supplemental Information Detail SupplementalInformationDetail

FieldValueIRS element (for citing)
Form And Line ReferencePART I, LINE 7FormAndLineReferenceDesc
ExplanationTHE ORGANIZATION AWARDED DISCRETIONARY BONUSES TO PERSONS LISTED ON PART VII OF THE 990, AND IS REPORTED IN PART II, COLUMN B(II).ExplanationTxt

Schedule O IRS990ScheduleO

Supplemental Information Detail SupplementalInformationDetail (5 entries)

Form And Line ReferenceFormAndLineReferenceDescExplanationExplanationTxt
FORM 990, PART VI, SECTION A, LINE 3THE SCHOOL IS MANAGED BY PROSPECT SCHOOLS, INC. ("PROSPECT"), A CHARTER MANAGEMENT ORGANIZATION. PROSPECT OVERSEES THE SCHOOL IN THEIR DEVELOPMENT AND IMPLEMENTATION OF THEIR EDUCATIONAL AND INSTRUCTION PROGRAMS; SUPPORTS AND ASSISTS THE BUSINESS ADMINISTRATION OF THE SCHOOL; ASSISTS IN THE RECRUITMENT OF PERSONNEL AND PROVIDES HUMAN RESOURCES SERVICES; AND OVERSEES THE FINANCIAL SERVICES AND REPORTS FOR THE SCHOOL. FOR THE YEAR ENDED JUNE 30, 2025, THE SCHOOL PAID PROSPECT A MANAGEMENT FEE IN THE AMOUNT OF $10,306,851. THERE WERE NO BOARD MEMBERS OR EMPLOYEES COMPENSATED BY THE MANAGEMENT COMPANY.
FORM 990, PART VI, SECTION B, LINE 11BTHE FORM 990 IS REVIEWED BY THE BOARD CHAIR AND TREASURER. A COMPLETE COPY OF THE RETURN IS PROVIDED TO THE ENTIRE BOARD OF TRUSTEES FOR APPROVAL AFTER FILING WITH THE IRS.
FORM 990, PART VI, SECTION B, LINE 12CTHE SCHOOL HAS A CONFLICT OF INTEREST POLICY APPLICABLE TO TRUSTEES, OFFICERS, AND KEY PERSONS. UPON ELECTION OR APPOINTMENT, AND ON AN ANNUAL BASIS THEREAFTER, COVERED PERSONS MUST COMPLETE A CONFLICT OF INTEREST DISCLOSURE FORM AND MUST SIGN A STATEMENT, WHICH AFFIRMS THAT SUCH PERSON HAS RECEIVED A COPY OF THE CONFLICT OF INTEREST POLICY, HAS READ AND UNDERSTANDS THE POLICY, AND HAS AGREED TO COMPLY WITH THE POLICY. THE WRITTEN DISCLOSURE STATEMENTS ARE SUBMITTED TO AND REVIEWED BY THE CHAIRPERSON OF THE BOARD. IF A POTENTIAL CONFLICT ARISES BETWEEN ANNUAL UPDATES, THE PERSON INVOLVED HAS A DUTY TO PROMPTLY DISCLOSE ALL MATERIAL FACTS PERTAINING TO A POTENTIAL CONFLICT OF INTEREST. DETERMINATIONS REGARDING CONFLICT MATTERS ARE TO BE MADE BY THE BOARD OF TRUSTEES BY MAJORITY VOTE. AT THE TIME OF ANY DELIBERATION CONCERNING CONFLICTS OF INTEREST THE PERSON INVOLVED MUST NOT BE PRESENT, UNLESS ASKED TO PROVIDE ADDITIONAL INFORMATION, AND SUCH PERSON MAY NOT VOTE ON THE MATTER. THE EXISTENCE AND RESOLUTION OF ANY REPORTED CONFLICTS OF INTEREST ARE DOCUMENTED IN THE BOARD MINUTES.
FORM 990, PART VI, SECTION C, LINE 19THE SCHOOL MAKES ITS FORM 990, GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC UPON WRITTEN REQUEST. IN ADDITION, THE FORM 990 IS AVAILABLE ON GUIDESTAR.ORG AND OTHER SIMILAR TYPES OF WEBSITES.
FORM 990, PART XII, LINE 2C:THE FINANCE COMMITTEE OF THE BOARD OF TRUSTEES IS RESPONSIBLE FOR THE OVERSIGHT OF THE AUDIT OF THE FINANCIAL STATEMENTS AND THE SELECTION OF AN INDEPENDENT ACCOUNTANT. THIS PROCESS HAS NOT CHANGED FROM THE PRIOR YEAR.

Comments

Anonymous: no account or email. Up to 2,000 characters, at most one link. Comments are checked automatically; some wait for review.