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Nonprofiteer
← FEDCAP APEX TECHNICAL SCHOOL INC

Form 990 for tax year 2024

Filed by FEDCAP APEX TECHNICAL SCHOOL INC.

Totals

Total revenue
$30,326,517
Total expenses
$26,228,817
Contributions and grants received
$1,808,963
Grants paid
$2,657,440
Program service revenue
$27,906,425
Investment income
$417,560
Other revenue
$193,569
Total assets, end of year
$54,345,848
Total liabilities, end of year
$54,133,510
Net assets or fund balances, end of year
$212,338
Program services expenses (Part IX)
$18,891,656
Management and general expenses
$7,337,161
Fundraising expenses
$0
Program service expenses (Part III)
$18,891,656

Program services were 72.0% 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)

    $1,603,963

  • 1f · All other contributions, gifts and grants

    $205,000

  • 2a · Program service revenue: TUITION INCOME

    total $27,906,425 · related or exempt $27,906,425

  • 3 · Investment income

    total $417,560 · excluded $417,560

  • 11a · Other revenue: MISCELLANEOUS REVENUE

    total $193,569 · excluded $193,569

  • 11e · Other revenue, total

    $193,569

Functional expenses

Part IX, the statement of functional expenses.

  • 2 · Grants to domestic individuals

    total $2,657,440 · program services $2,657,440

  • 5 · Compensation of officers, directors and key employees

    total $564,733 · program services $406,757 · management and general $157,976

  • 7 · Other salaries and wages

    total $10,105,683 · program services $9,811,988 · management and general $293,695

  • 8 · Pension plan contributions

    total $718,050 · program services $685,155 · management and general $32,895

  • 9 · Other employee benefits

    total $1,446,660 · program services $1,380,385 · management and general $66,275

  • 10 · Payroll taxes

    total $438,164 · program services $315,593 · management and general $122,571

  • 11b · Fees: legal

    total $24,922 · management and general $24,922

  • 11c · Fees: accounting

    total $225,325 · management and general $225,325

  • 11g · Fees: other

    total $552,099 · program services $25,224 · management and general $526,875

  • 12 · Advertising and promotion

    total $544,247 · management and general $544,247

  • 13 · Office expenses

    total $1,081,801 · program services $2,585 · management and general $1,079,216

  • 14 · Information technology

    total $368,464 · program services $47 · management and general $368,417

  • 16 · Occupancy

    total $1,800,046 · program services $887,583 · management and general $912,463

  • 17 · Travel

    total $30,902 · program services $231 · management and general $30,671

  • 19 · Conferences, conventions and meetings

    total $8,790 · management and general $8,790

  • 20 · Interest

    total $1,986,579 · program services $761,222 · management and general $1,225,357

  • 22 · Depreciation, depletion and amortization

    total $1,892,150 · program services $511,594 · management and general $1,380,556

  • 23 · Insurance

    total $291,844 · program services $277,590 · management and general $14,254

  • 24a · Other expenses: REIMBURSED EXP (FEDCAP)

    total $1,131,404 · program services $953,324 · management and general $178,080

  • 24e · All other expenses

    total $359,514 · program services $214,938 · management and general $144,576

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $134,383 · end of year $1,232,110

  • 4 · Accounts receivable

    beginning of year $4,100,477 · end of year $5,731,465

  • 8 · Inventories for sale or use

    beginning of year $120,645 · end of year $120,645

  • 9 · Prepaid expenses and deferred charges

    beginning of year $1,470,505 · end of year $245,482

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

    $7,263,577

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

    $1,008,958

  • 10c · Land, buildings and equipment, net

    beginning of year $6,499,736 · end of year $6,254,619

  • 14 · Intangible assets

    beginning of year $140,000 · end of year $100,002

  • 15 · Other assets

    beginning of year $42,135,116 · end of year $40,661,525

  • 17 · Accounts payable and accrued expenses

    beginning of year $2,488,774 · end of year $2,248,855

  • 19 · Deferred revenue

    beginning of year $1,292,890 · end of year $2,313,197

  • 25 · Other liabilities

    beginning of year $54,704,560 · end of year $49,571,458

  • 27 · Net assets without donor restrictions

    beginning of year -$3,885,362 · end of year $212,338

Mission and programs · 2024

Mission

SEE SCHEDULE O

Activities or mission (Part I)

WE ARE COMMITTED TO PROVIDING EDUCATION THAT POSITIONS PEOPLE FOR JOBS IN THE TRADES.

  • APEX TECHNICAL SCHOOL, INC. PROVIDE HANDS-ON TRAINING COURSES TO INDIVIDUALS THAT PROVIDE BASIC TRADE AND LABOR SKILLS NECESSARY TO SECURE AN ENTRY-LEVEL POSITION IN THE FIELD. SPECIFICALLY, THE SCHOOL WILL PROVIDE VOCATIONAL TRAINING PROGRAMS IN THE AREAS OF AUTOMOTIVE SERVICE AND REPAIR; AIR CONDITIONING AND REFRIGERATION; AUTOBODY REPAIR; COMBINATION WELDING TECHNOLOGY; ELECTRICAL AND ADVANCED ELECTRICAL; CONSTRUCTION AND BUILDING SKILLS; PLUMBING AND PIPEFITTING. THE SCHOOL IS ALSO WORKING TO DEVELOP NEW CURRICULUM IN DIGITAL SKILLS INCLUDING AUDIO/VISUAL TECHNOLOGY, CYBER SECURITY, SOFTWARE ENGINEERING AND DIGITAL MEDIA/MARKETING.

    Expenses $18,891,656 · Grants $2,657,440 · Revenue $27,906,425

As filed on the 2024 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • Carol Khoury

    CFO & TREASURER/SECR.

    Total calculated
    $405,031
    From this org
    $0
    From related orgs
    $373,709
    Other
    $31,322
    Hours/week
    1 + 40 related

    Schedule J breakdown matched by us

    Base
    $0 + $373,709 related
    Bonus
    $0
    Other
    $0
    Deferred
    $0 + $28,875 related
    Nontaxable benefits
    $0 + $2,447 related
    Filer's total
    $0 + $405,031 related

  • Kenneth Brezenoff

    CHAIRMAN

    Total calculated
    $259,975
    From this org
    $0
    From related orgs
    $241,290
    Other
    $18,685
    Hours/week
    1 + 40 related

    Schedule J breakdown matched by us

    Base
    $0 + $241,290 related
    Bonus
    $0
    Other
    $0
    Deferred
    $0 + $7,500 related
    Nontaxable benefits
    $0 + $11,185 related
    Filer's total
    $0 + $259,975 related

  • Christine McMahon

    PRESIDENT AND CEO

    Total calculated
    $894,189
    From this org
    $0
    From related orgs
    $742,054
    Other
    $152,135
    Hours/week
    1 + 40 related

    Schedule J breakdown matched by us

    Base
    $0 + $742,054 related
    Bonus
    $0
    Other
    $0
    Deferred
    $0 + $140,350 related
    Nontaxable benefits
    $0 + $11,785 related
    Filer's total
    $0 + $894,189 related

  • Steven Markowitz

    PRESIDENT

    Total calculated
    $231,342
    From this org
    $207,476
    From related orgs
    $0
    Other
    $23,866
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $207,476
    Bonus
    $0
    Other
    $0
    Deferred
    $6,652
    Nontaxable benefits
    $17,214
    Filer's total
    $231,342

  • Stuart Markowitz

    VICE PRESIDENT

    Total calculated
    $202,267
    From this org
    $194,924
    From related orgs
    $0
    Other
    $7,343
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $178,207
    Bonus
    $16,717
    Other
    $0
    Deferred
    $5,624
    Nontaxable benefits
    $1,719
    Filer's total
    $202,267

  • Sau Wong

    IT ADMINISTRATOR

    Total calculated
    $186,453
    From this org
    $171,020
    From related orgs
    $0
    Other
    $15,433
    Hours/week
    1

    Schedule J breakdown matched by us

    Base
    $171,020
    Bonus
    $0
    Other
    $0
    Deferred
    $5,307
    Nontaxable benefits
    $10,126
    Filer's total
    $186,453

  • Carl Greenidge

    INSTRUCTOR

    Total calculated
    $166,945
    From this org
    $152,475
    From related orgs
    $0
    Other
    $14,470
    Hours/week
    1

    Schedule J breakdown matched by us

    Base
    $152,475
    Bonus
    $0
    Other
    $0
    Deferred
    $4,568
    Nontaxable benefits
    $9,902
    Filer's total
    $166,945

  • Charlesjames Sarno

    EDUCATION SUPPORT MANAGER

    Total calculated
    $140,150
    From this org
    $135,126
    From related orgs
    $0
    Other
    $5,024
    Hours/week
    1

  • Barry Burkan

    DEAN OF STUDENT AFFAIRS

    Total calculated
    $154,751
    From this org
    $150,018
    From related orgs
    $0
    Other
    $4,733
    Hours/week
    1

    Schedule J breakdown matched by us

    Base
    $137,221
    Bonus
    $12,797
    Other
    $0
    Deferred
    $3,720
    Nontaxable benefits
    $1,013
    Filer's total
    $154,751

  • Jesse Poe

    BUSINESS IMPROVEMENT MANAG

    Total calculated
    $153,833
    From this org
    $140,783
    From related orgs
    $0
    Other
    $13,050
    Hours/week
    1

    Schedule J breakdown matched by us

    Base
    $128,212
    Bonus
    $12,571
    Other
    $0
    Deferred
    $4,388
    Nontaxable benefits
    $8,662
    Filer's total
    $153,833

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

  • 4b · Supplemental nonqualified retirement plan

Answered no

  • 4a · Severance or change-of-control payment
  • 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
  • 7 · Other non-fixed payments
  • 8 · Paid under the initial-contract exception

The filer's explanations (Part III)

PART I, LINE 4B
PRESIDENT/CEO, CHRISTINE MCMAHON PARTICIPATES IN FEDCAP'S SUPPLEMENTAL NONQUALIFIED SECTION 457(F) RETIREMENT PLAN. THE EMPLOYER CONTRIBUTION TO THE SECTION 457(F) PLAN IN CALENDAR YEAR 2023 WAS $130,000; THIS AMOUNT IS INCLUDED IN SCHEDULE J, PART II, COLUMN C.

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.

Related organizations on this return

Schedule R Part II: tax-exempt organizations related to the filer by control. It does not record shared board members or money.

Taxable family on this return

Schedule R Parts I, III and IV, as filed. These record ownership and control, not shared board members or money moved.

Related partnerships

Part III: related organizations taxable as a partnership, with the filer's share.

  • FEDCAP VR LLC

    WORKFORCE DEV · NY · general or managing partner

    Directly controlled by FEDCAP GROUP INC

Provenance

Return type
form_990
Tax year
2024
Filed
14 August 2026
IRS schema version
2024v5.5
Source object
202602269349302975

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