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← BROOKLYN PROSPECT CHARTER SCHOOL

Form 990 for tax year 2023

Filed by BROOKLYN PROSPECT CHARTER SCHOOL.

Totals

Total revenue
$68,150,953
Total expenses
$68,762,160
Contributions and grants received
$4,828,143
Grants paid
$0
Program service revenue
$62,967,019
Investment income
$243,746
Other revenue
$112,045
Total assets, end of year
$266,566,907
Total liabilities, end of year
$258,525,796
Net assets or fund balances, end of year
$8,041,111
Program services expenses (Part IX)
$57,992,128
Management and general expenses
$10,469,340
Fundraising expenses
$300,692
Program service expenses (Part III)
$57,992,128

Program services were 84.3% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.

Line items

Every line the filer filed in Parts VIII, IX and X, as filed and in filed order. Blank columns are left out, and the lines are not forced to add up to the totals above.

Revenue

Part VIII, the statement of revenue.

  • 1e · Government grants (contributions)

    $4,113,998

  • 1f · All other contributions, gifts and grants

    $714,145

  • 1g · Noncash contributions included above

    $174,163

  • 2a · Program service revenue: GOV'T PER-PUPIL REVENUE

    total $49,890,758 · related or exempt $49,890,758

  • 2b · Program service revenue: GOV'T PER-PUPIL REV.- FACILITIES

    total $13,073,544 · related or exempt $13,073,544

  • 2c · Program service revenue: EXAM/OTHER PARENT PAYMENTS

    total $2,717 · related or exempt $2,717

  • 3 · Investment income

    total $243,746 · excluded $243,746

  • 11a · Other revenue: MISC REVENUE.

    total $93,602 · excluded $93,602

  • 11b · Other revenue: REFUNDS

    total $16,943 · excluded $16,943

  • 11c · Other revenue: VENDING

    total $1,500 · excluded $1,500

  • 11e · Other revenue, total

    $112,045

Functional expenses

Part IX, the statement of functional expenses.

  • 7 · Other salaries and wages

    total $29,161,759 · program services $27,517,557 · management and general $1,619,208 · fundraising $24,994

  • 8 · Pension plan contributions

    total $809,388 · program services $763,749 · management and general $44,945 · fundraising $694

  • 9 · Other employee benefits

    total $3,855,453 · program services $3,638,054 · management and general $214,092 · fundraising $3,307

  • 10 · Payroll taxes

    total $2,531,515 · program services $2,388,770 · management and general $140,573 · fundraising $2,172

  • 11a · Fees: management

    total $8,793,151 · program services $3,517,260 · management and general $5,187,960 · fundraising $87,931

  • 11b · Fees: legal

    total $12,597 · management and general $12,597

  • 11c · Fees: accounting

    total $53,457 · management and general $53,457

  • 11g · Fees: other

    total $941,928 · program services $789,683 · management and general $152,173 · fundraising $72

  • 13 · Office expenses

    total $626,585 · program services $548,072 · management and general $78,017 · fundraising $496

  • 14 · Information technology

    total $435,250 · program services $420,025 · management and general $14,996 · fundraising $229

  • 16 · Occupancy

    total $17,232,111 · program services $16,232,949 · management and general $983,926 · fundraising $15,236

  • 17 · Travel

    total $10,568 · program services $9,968 · management and general $591 · fundraising $9

  • 19 · Conferences, conventions and meetings

    total $353,551 · program services $344,061 · management and general $9,345 · fundraising $145

  • 20 · Interest

    total $90,245 · management and general $90,245

  • 22 · Depreciation, depletion and amortization

    total $1,410,216 · management and general $1,410,216

  • 23 · Insurance

    total $370,008 · management and general $370,008

  • 24a · Other expenses: CURRICULUM & CLASSROOM

    total $1,111,568 · program services $1,111,568

  • 24b · Other expenses: REPAIRS & MAINTENANCE

    total $574,375 · program services $574,375

  • 24c · Other expenses: PARENT TEACHER ORGANIZA

    total $165,407 · fundraising $165,407

  • 24d · Other expenses: PROFESSIONAL DEVELOP.

    total $136,037 · program services $136,037

  • 24e · All other expenses

    total $86,991 · management and general $86,991

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $165,906 · end of year $2,345,268

  • 2 · Savings and temporary cash investments

    beginning of year $6,184,137 · end of year $7,792,102

  • 3 · Pledges and grants receivable

    beginning of year $2,228,502 · end of year $1,728,709

  • 4 · Accounts receivable

    beginning of year $278,368 · end of year $100,000

  • 9 · Prepaid expenses and deferred charges

    beginning of year $305,426 · end of year $30,132

  • 10a · Land, buildings and equipment: cost or other basis

    $15,153,313

  • 10b · Land, buildings and equipment: accumulated depreciation

    $7,635,488

  • 10c · Land, buildings and equipment, net

    beginning of year $6,822,512 · end of year $7,517,825

  • 15 · Other assets

    beginning of year $200,752,847 · end of year $247,052,871

  • 17 · Accounts payable and accrued expenses

    beginning of year $566,895 · end of year $672,080

  • 19 · Deferred revenue

    beginning of year $47,779 · end of year $0

  • 23 · Secured mortgages and notes payable

    beginning of year $2,150,000 · end of year $1,640,000

  • 25 · Other liabilities

    beginning of year $204,820,706 · end of year $256,213,716

  • 27 · Net assets without donor restrictions

    beginning of year $9,152,318 · end of year $8,041,111

Mission and programs · 2023

Mission

SERVING 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.

Activities or mission (Part I)

OUR SCHOOL PREPARES STUDENTS FOR SUCCESS AS GLOBAL CITIZENS.

  • BROOKLYN 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 2023-2024 SCHOOL YEAR, WE SERVED 2,432 STUDENTS IN GRADES KINDERGARTEN THROUGH 12TH GRADE.

    Expenses $57,992,128 · Revenue $62,967,019

As filed on the 2023 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • Gravelle Pierre

    BOARD CHAIR

    Total calculated
    $0
    Hours/week
    4

  • Maya Petrocelli

    SECRETARY

    Total calculated
    $0
    Hours/week
    1

  • Sagar Desai

    TREASURER

    Total calculated
    $0
    Hours/week
    1

  • Juliet Cullen-Cheung

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • Sara Keenan

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • Sam Koch

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • Angela Kurzawa

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • Michelle Ramirez

    TRUSTEE THRU 9/2023

    Total calculated
    $0
    Hours/week
    1

  • Joanne Garce-Rodriguez

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • Antoinette Koram Chukudebelu

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • Theresa Sanchez

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • Emily Carroll-Chocolaad

    PRINCIPAL

    Total calculated
    $189,403
    From this org
    $157,286
    From related orgs
    $0
    Other
    $32,117
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $157,286
    Bonus
    $0
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $32,117
    Filer's total
    $189,403

  • Dana Mulwanda

    PRINCIPAL

    Total calculated
    $180,322
    From this org
    $133,670
    From related orgs
    $0
    Other
    $46,652
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $128,670
    Bonus
    $5,000
    Other
    $0
    Deferred
    $5,688
    Nontaxable benefits
    $40,964
    Filer's total
    $180,322

  • Matthew Ellis

    PRINCIPAL

    Total calculated
    $163,167
    From this org
    $149,614
    From related orgs
    $0
    Other
    $13,553
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $144,614
    Bonus
    $5,000
    Other
    $0
    Deferred
    $3,615
    Nontaxable benefits
    $9,938
    Filer's total
    $163,167

  • Folake Akinola-Pinard

    PRINCIPAL

    Total calculated
    $182,514
    From this org
    $153,654
    From related orgs
    $0
    Other
    $28,860
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $143,654
    Bonus
    $10,000
    Other
    $0
    Deferred
    $6,397
    Nontaxable benefits
    $22,463
    Filer's total
    $182,514

  • Wendell Cheung

    PRINCIPAL

    Total calculated
    $173,001
    From this org
    $155,868
    From related orgs
    $0
    Other
    $17,133
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $145,868
    Bonus
    $10,000
    Other
    $0
    Deferred
    $6,352
    Nontaxable benefits
    $10,781
    Filer's total
    $173,001

Compensation is as filed in Part VII: reportable pay from this organization and from related organizations, other compensation, and hours per week. The total, marked calculated, is our sum of the three dollar columns, with a blank column counted as $0; the form itself has no total. On a Form 990-EZ the columns are Part IV's instead, and on a Form 990-PF Part VIII's — compensation, contributions to benefit plans, and expense account — and the total sums those. A Schedule J breakdown is as filed: base pay, bonus, other, deferred compensation and nontaxable benefits from this organization, with any from related organizations beside each, and the filer's own total. It is shown with the Part VII listing of the same name on the same return. The form gives no key between the two, so that pairing is ours, and is marked matched by us.

Schedule J

Answered yes

  • 3 · Compensation committee
  • 3 · Form 990 of other organizations
  • 3 · Compensation survey or study
  • 3 · Approval by the board or compensation committee
  • 7 · Other non-fixed payments

Answered no

  • 4a · Severance or change-of-control payment
  • 4b · Supplemental nonqualified retirement plan
  • 4c · Equity-based compensation arrangement
  • 5a · Pay contingent on this organization's revenues
  • 5b · Pay contingent on a related organization's revenues
  • 6a · Pay contingent on this organization's net earnings
  • 6b · Pay contingent on a related organization's net earnings
  • 8 · Paid under the initial-contract exception

The filer's explanations (Part III)

PART I, LINE 7
THE ORGANIZATION AWARDED DISCRETIONARY BONUSES TO PERSONS LISTED ON PART VII OF THE 990, AND IS REPORTED IN PART II, COLUMN B(II).

Part I's answers as filed. A line not listed was left unanswered; on lines 1a and 3 that means the box was not checked.

Grants on this return

No itemized grants to organizations on this return.

Provenance

Return type
form_990
Tax year
2023
Filed
15 May 2025
IRS schema version
2023v6.0
Source object
202531359349317433

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