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Nonprofiteer
← PUBLIC PREPARATORY NETWORK INC

Form 990 for tax year 2024

Filed by PUBLIC PREPARATORY NETWORK INC.

Totals

Total revenue
$8,052,339
Total expenses
$5,072,468
Contributions and grants received
$409,210
Grants paid
$356,300
Program service revenue
$5,106,548
Investment income
$73
Other revenue
$2,536,508
Total assets, end of year
$1,169,139
Total liabilities, end of year
$576,501
Net assets or fund balances, end of year
$592,638
Program services expenses (Part IX)
$3,964,349
Management and general expenses
$909,209
Fundraising expenses
$198,910
Program service expenses (Part III)
$3,964,349

Program services were 78.2% 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.

  • 1f · All other contributions, gifts and grants

    $409,210

  • 2a · Program service revenue: MANAGEMENT FEES

    total $5,099,768 · related or exempt $5,099,768

  • 2b · Program service revenue: OTHER INCOME

    total $6,780 · related or exempt $6,780

  • 3 · Investment income

    total $73 · excluded $73

  • 11a · Other revenue: FORGIVENESS OF DEBT

    total $2,501,918 · related or exempt $2,501,918

  • 11b · Other revenue: BAD DEBT RECOVERY

    total $34,590 · related or exempt $34,590

  • 11e · Other revenue, total

    $2,536,508

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $356,300 · program services $356,300

  • 5 · Compensation of officers, directors and key employees

    total $794,546 · program services $635,636 · management and general $150,964 · fundraising $7,946

  • 7 · Other salaries and wages

    total $2,075,385 · program services $1,728,088 · management and general $232,124 · fundraising $115,173

  • 8 · Pension plan contributions

    total $78,296 · program services $64,921 · management and general $9,371 · fundraising $4,004

  • 9 · Other employee benefits

    total $107,679 · program services $89,426 · management and general $12,549 · fundraising $5,704

  • 10 · Payroll taxes

    total $199,296 · program services $164,406 · management and general $25,892 · fundraising $8,998

  • 11b · Fees: legal

    total $190,309 · management and general $190,309

  • 11c · Fees: accounting

    total $67,750 · management and general $67,750

  • 11g · Fees: other

    total $779,924 · program services $548,786 · management and general $183,551 · fundraising $47,587

  • 12 · Advertising and promotion

    total $63,753 · program services $63,753

  • 13 · Office expenses

    total $13,313 · program services $8,669 · management and general $4,169 · fundraising $475

  • 14 · Information technology

    total $67,301 · program services $50,107 · management and general $14,452 · fundraising $2,742

  • 17 · Travel

    total $6,187 · program services $5,104 · management and general $804 · fundraising $279

  • 22 · Depreciation, depletion and amortization

    total $24,543 · program services $20,246 · management and general $3,189 · fundraising $1,108

  • 23 · Insurance

    total $63,949 · program services $52,754 · management and general $8,308 · fundraising $2,887

  • 24a · Other expenses: SCHOOL SUPPORT

    total $125,743 · program services $125,141 · management and general $447 · fundraising $155

  • 24b · Other expenses: TELEPHONE & INTERNET

    total $32,723 · program services $26,995 · management and general $4,251 · fundraising $1,477

  • 24c · Other expenses: STAFF DEVELOPMENT

    total $25,471 · program services $24,017 · management and general $1,079 · fundraising $375

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $221,619 · end of year $946,832

  • 2 · Savings and temporary cash investments

    beginning of year $25,619 · end of year $25,692

  • 3 · Pledges and grants receivable

    beginning of year $25,000 · end of year $0

  • 9 · Prepaid expenses and deferred charges

    beginning of year $100,841 · end of year $188,775

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

    $0

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

    $0

  • 10c · Land, buildings and equipment, net

    beginning of year $65,032 · end of year $0

  • 15 · Other assets

    beginning of year $13,067 · end of year $7,840

  • 17 · Accounts payable and accrued expenses

    beginning of year $513,251 · end of year $568,326

  • 19 · Deferred revenue

    beginning of year $559,132 · end of year $0

  • 25 · Other liabilities

    beginning of year $1,766,028 · end of year $8,175

  • 27 · Net assets without donor restrictions

    beginning of year -$2,542,815 · end of year $592,638

  • 28 · Net assets with donor restrictions

    beginning of year $155,582 · end of year $0

Mission and programs · 2024

Mission

THE ORGANIZATION'S PURPOSE IS TO MANAGE AND SUPPORT A NETWORK OF OPEN-ENROLLMENT FREE COLLEGE PREPARATORY CHARTER SCHOOLS COMMITTED TO HIGH ACADEMIC STANDARDS, MERIT, CITIZENSHIP AND RESPONSIBILITY IN NEW YORK CITY'S NEEDIEST NEIGHBORHOODS.

Activities or mission (Part I)

PUBLIC PREP NETWORK IS A NONPROFIT ORGANIZATION THAT DEVELOPS SINGLE-SEX ELEMENTARY AND MIDDLE PUBLIC SCHOOLS THAT PURSUE EXCELLENCE THROUGH CONTINUOUS LEARNING AND DATA-DRIVEN INSTRUCTION. OUR MODEL IS DESIGNED TO EMPOWER EACH STUDENT TO BUILD STRONG CHARACTER, DEMONSTRATE CRITICAL THINKING, POSSESS A CORE BODY OF KNOWLEDGE AND BE ON A PREDICTIVE PATH TO EARN A DEGREE FROM A FOUR-YEAR UNIVERSITY.

  • CHARTER SCHOOL MARKETING/RECRUITMENT, FUNDRAISING AS WELL AS ACADEMIC, ADMINISTRATIVE AND FINANCIAL SUPPORT.

    Expenses $3,964,349 · Grants $356,300 · Revenue $5,141,138

As filed on the 2024 return.

Listed in Part VII

  • Mark Diker

    CHAIR

    Total calculated
    $0
    Hours/week
    1

  • Margery Mayer

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Nicole Kail Greene

    VICE CHAIR

    Total calculated
    $0
    Hours/week
    1

  • Janelle Bradshaw

    CEO-RESIGNED 8/24

    Total calculated
    $388,669
    From this org
    $354,896
    From related orgs
    $0
    Other
    $33,773
    Hours/week
    41

    Schedule J breakdown matched by us

    Base
    $229,096
    Bonus
    $0
    Other
    $125,800
    Deferred
    $11,919
    Nontaxable benefits
    $21,854
    Filer's total
    $388,669

  • Jeannemarie Hendershot

    COO - RESIGNED 6/24

    Total calculated
    $129,095
    From this org
    $115,487
    From related orgs
    $0
    Other
    $13,608
    Hours/week
    40

  • Emilee Christopher

    CHIEF OF STAFF-RESIGNED 6/25

    Total calculated
    $331,860
    From this org
    $298,582
    From related orgs
    $0
    Other
    $33,278
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $298,582
    Bonus
    $0
    Other
    $0
    Deferred
    $13,679
    Nontaxable benefits
    $19,599
    Filer's total
    $331,860

  • Keisha Morris

    MANAGING DIR OF OPS-RESIGNED 1/25

    Total calculated
    $176,396
    From this org
    $176,396
    From related orgs
    $0
    Other
    $0
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $176,396
    Bonus
    $0
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $0
    Filer's total
    $176,396

  • Caitlin Omeis

    MANAGING DIR OF SFA-RESIGNED 6/25

    Total calculated
    $186,454
    From this org
    $146,321
    From related orgs
    $0
    Other
    $40,133
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $146,321
    Bonus
    $0
    Other
    $0
    Deferred
    $7,892
    Nontaxable benefits
    $32,241
    Filer's total
    $186,454

  • Porsche Landon-Hutton

    MANAGING DIR OF ADV-RESIGNED 6/25

    Total calculated
    $184,090
    From this org
    $161,667
    From related orgs
    $0
    Other
    $22,423
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $161,667
    Bonus
    $0
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $22,423
    Filer's total
    $184,090

  • Jessica Strong

    DIRECTOR OF SP-RESIGNED 6/25

    Total calculated
    $178,393
    From this org
    $159,472
    From related orgs
    $0
    Other
    $18,921
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $159,472
    Bonus
    $0
    Other
    $0
    Deferred
    $8,219
    Nontaxable benefits
    $10,702
    Filer's total
    $178,393

  • Shanice Adams

    MANAGING DIR OF SCH-RESIGNED 3/24

    Total calculated
    $190,780
    From this org
    $157,572
    From related orgs
    $0
    Other
    $33,208
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $157,572
    Bonus
    $0
    Other
    $0
    Deferred
    $7,871
    Nontaxable benefits
    $25,337
    Filer's total
    $190,780

  • Jeffery Aler

    MANAGING DIR OF HR-RESIGNED 6/25

    Total calculated
    $161,923
    From this org
    $143,780
    From related orgs
    $0
    Other
    $18,143
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $143,780
    Bonus
    $0
    Other
    $0
    Deferred
    $7,441
    Nontaxable benefits
    $10,702
    Filer's total
    $161,923

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 · Approval by the board or compensation committee
  • 4a · Severance or change-of-control payment

Answered no

  • 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

The filer's explanations (Part III)

PART I, LINE 4A
EFFECTIVE IN AUGUST 2024, THE ORGANIZATION ENTERED INTO A SEPARATION AGREEMENT WITH JANELLE BRADSHAW, WHO WAS THE CEO. THE SEPARATION AGREEMENT WAS PUT IN PLACE OUTLINING SEVERANCE BENEFITS THAT THE ORGANIZATION 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 THE ORGANIZATION 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 THE ORGANIZATION'S REGULAR PAYROLL SCHEDULE.

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

Provenance

Return type
form_990
Tax year
2024
Filed
18 March 2026
IRS schema version
2024v5.5
Source object
202630929349301568

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