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Nonprofiteer
← FORTE PREPARATORY ACADEMY CHARTER SCHOOL

Form 990 for tax year 2022

Filed by FORTE PREPARATORY ACADEMY CHARTER SCHOOL.

Totals

Total revenue
$10,610,274
Total expenses
$10,215,360
Contributions and grants received
$10,562,462
Grants paid
$0
Program service revenue
$0
Investment income
$15
Other revenue
$47,797
Total assets, end of year
$33,752,398
Total liabilities, end of year
$29,246,879
Net assets or fund balances, end of year
$4,505,519
Program services expenses (Part IX)
$8,611,755
Management and general expenses
$1,545,358
Fundraising expenses
$58,247
Program service expenses (Part III)
$8,611,755

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)

    $9,436,984

  • 1f · All other contributions, gifts and grants

    $1,125,478

  • 3 · Investment income

    total $15 · excluded $15

  • 11a · Other revenue: UNIFORM SALES

    total $34,453 · excluded $34,453

  • 11b · Other revenue: OTHER INCOME

    total $13,344 · excluded $13,344

  • 11e · Other revenue, total

    $47,797

Functional expenses

Part IX, the statement of functional expenses.

  • 5 · Compensation of officers, directors and key employees

    total $166,937 · program services $141,897 · management and general $16,694 · fundraising $8,346

  • 7 · Other salaries and wages

    total $4,744,186 · program services $4,121,537 · management and general $594,431 · fundraising $28,218

  • 8 · Pension plan contributions

    total $58,687 · program services $50,949 · management and general $7,306 · fundraising $432

  • 9 · Other employee benefits

    total $467,854 · program services $406,341 · management and general $58,473 · fundraising $3,040

  • 10 · Payroll taxes

    total $407,654 · program services $353,906 · management and general $50,747 · fundraising $3,001

  • 11b · Fees: legal

    total $23,057 · management and general $23,057

  • 11f · Fees: investment management

    total $189,522 · management and general $189,522

  • 11g · Fees: other

    total $386,034 · program services $5,696 · management and general $366,715 · fundraising $13,623

  • 13 · Office expenses

    total $203,804 · program services $174,775 · management and general $27,840 · fundraising $1,189

  • 16 · Occupancy

    total $2,400,649 · program services $2,328,630 · management and general $72,019

  • 22 · Depreciation, depletion and amortization

    total $217,600 · program services $211,072 · management and general $6,528

  • 23 · Insurance

    total $54,056 · program services $46,929 · management and general $6,729 · fundraising $398

  • 24a · Other expenses: CURRICULUM & CLASSROOM

    total $328,094 · program services $328,094

  • 24b · Other expenses: STUDENT FOOD

    total $200,461 · program services $200,461

  • 24c · Other expenses: PROFESSIONAL DEVELOPMEN

    total $142,619 · program services $142,619

  • 24d · Other expenses: EQUIPMENT

    total $77,505 · program services $21,792 · management and general $55,713

  • 24e · All other expenses

    total $146,641 · program services $77,057 · management and general $69,584

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $3,627,219 · end of year $3,458,643

  • 2 · Savings and temporary cash investments

    beginning of year $75,127 · end of year $75,142

  • 3 · Pledges and grants receivable

    beginning of year $383,963 · end of year $861,190

  • 9 · Prepaid expenses and deferred charges

    beginning of year $9,150 · end of year $31,959

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

    $1,586,099

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

    $820,008

  • 10c · Land, buildings and equipment, net

    beginning of year $390,341 · end of year $766,091

  • 15 · Other assets

    beginning of year $812,630 · end of year $28,559,373

  • 17 · Accounts payable and accrued expenses

    beginning of year $747,044 · end of year $756,189

  • 19 · Deferred revenue

    beginning of year $119,397 · end of year $1,027

  • 25 · Other liabilities

    beginning of year $321,384 · end of year $28,489,663

  • 27 · Net assets without donor restrictions

    beginning of year $4,102,355 · end of year $4,382,232

  • 28 · Net assets with donor restrictions

    beginning of year $8,250 · end of year $123,287

Mission and programs · 2022

Mission

THROUGH RIGOROUS ACADEMICS, QUALITY INSTRUCTION, AND A POSITIVE CULTURE OF INDIVIDUAL AND COLLECTIVE RESPONSIBILITY, FORTE PREPARATORY ACADEMY CHARTER SCHOOL EQUIPS ALL STUDENTS IN GRADES 5 THROUGH 8 TO EXCEL IN COLLEGE PREPARATORY HIGH SCHOOLS AND USE THEIR LEADERSHIP AND VOICE TO CHANGE THE WORLD.

Activities or mission (Part I)

THROUGH RIGOROUS ACADEMICS, QUALITY INSTRUCTION, AND A POSITIVE CULTURE OF INDIVIDUAL AND COLLECTIVE RESPONSIBILITY, FORTE ACADEMY EQUIPS ALL STUDENTS IN GRADES 5 THROUGH 8 TO EXCEL IN COLLEGE PREPARATORY HIGH SCHOOLS AND USE THEIR LEADERSHIP AND VOICE TO CHANGE THE WORLD.

  • FORTE PREP IS A TUITION-FREE MIDDLE SCHOOL OPEN TO STUDENTS IN GRADES 5 THROUGH 8 IN QUEENS, NEW YORK. WE ARE DRIVEN BY A PHILOSOPHY OF ACHIEVING EXCELLENCE IN ALL FACETS OF LIFE AND LEARNING. WE BELIEVE IN THE POWER OF EDUCATION TO TRANSFORM THE LIVES OF STUDENTS FROM DIVERSE, OFTEN DISADVANTAGED, BACKGROUNDS. THROUGH RIGOROUS ACADEMICS, CREATIVE & TECHNOLOGICAL ENRICHMENT AND LEADERSHIP DEVELOPMENT, WE PREPARE OUR STUDENTS TO EXCEL AT COLLEGE PREPARATORY HIGH SCHOOLS AND BEYOND.

    Expenses $8,611,755

As filed on the 2022 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • Lisa Friscia

    BOARD CHAIR

    Total calculated
    $0
    Hours/week
    1

  • Fiona Y Lin

    VICE CHAIR

    Total calculated
    $0
    Hours/week
    1

  • Alexandra Rothman

    SECRETARY

    Total calculated
    $0
    Hours/week
    1

  • Daniel Moskowitz

    TREASURER

    Total calculated
    $0
    Hours/week
    1

  • Laura Rodriguez

    BOARD TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • Wai Lin Yip

    BOARD TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • Ellen Winn

    BOARD TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • Christine Padula

    BOARD TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • Val Abrams

    BOARD TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • Katie Mullen

    BOARD TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • Lorenzo Mendez

    BOARD TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • Graham Browne

    EXECUTIVE DIRECTOR

    Total calculated
    $166,937
    From this org
    $157,433
    From related orgs
    $0
    Other
    $9,504
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $153,304
    Bonus
    $4,129
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $9,504
    Filer's total
    $166,937

  • Justin Smith

    PRINCIPAL

    Total calculated
    $151,515
    From this org
    $142,111
    From related orgs
    $0
    Other
    $9,404
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $123,590
    Bonus
    $18,521
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $9,404
    Filer's total
    $151,515

  • Angela Mu

    ASSISTANT PRINCIPAL

    Total calculated
    $112,491
    From this org
    $105,262
    From related orgs
    $0
    Other
    $7,229
    Hours/week
    40

  • Mastrella Julie Alexandra

    ASSISTANT PRINCIPAL

    Total calculated
    $111,910
    From this org
    $102,805
    From related orgs
    $0
    Other
    $9,105
    Hours/week
    40

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 · Compensation survey or study
  • 3 · Approval by the board or compensation committee

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
  • 7 · Other non-fixed payments
  • 8 · Paid under the initial-contract exception

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
2022
Filed
14 May 2024
IRS schema version
2022v5.0
Source object
202431359349304693

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