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Nonprofiteer
← NAZARETH PREP

Form 990 for tax year 2022

Filed by NAZARETH PREP.

Totals

Total revenue
$5,182,051
Total expenses
$3,124,192
Contributions and grants received
$4,813,787
Grants paid
$0
Program service revenue
$335,524
Investment income
$972
Other revenue
$31,768
Total assets, end of year
$1,422,212
Total liabilities, end of year
$1,400,031
Net assets or fund balances, end of year
$22,181
Program services expenses (Part IX)
$2,695,994
Management and general expenses
$428,198
Fundraising expenses
$0
Program service expenses (Part III)
$2,695,994

Program services were 86.3% 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.

  • 1d · Related organizations

    $4,711,824

  • 1f · All other contributions, gifts and grants

    $101,963

  • 2a · Program service revenue: PROGRAM FEES

    total $335,524 · related or exempt $335,524

  • 3 · Investment income

    total $222 · excluded $222

  • 7a · Gross sales of assets other than inventory

    other assets $750

  • 7b · Less cost or other basis and sales expenses

    other assets $0

  • 7c · Gain or loss

    other assets $750

  • 7d · Net gain or loss

    total $750 · related or exempt $750

  • 11a · Other revenue: MISCELLANEOUS

    total $31,768 · related or exempt $31,768

  • 11e · Other revenue, total

    $31,768

Functional expenses

Part IX, the statement of functional expenses.

  • 5 · Compensation of officers, directors and key employees

    total $189,195 · management and general $189,195

  • 7 · Other salaries and wages

    total $1,006,810 · program services $1,006,810

  • 9 · Other employee benefits

    total $172,866 · program services $172,866

  • 10 · Payroll taxes

    total $91,890 · program services $91,890

  • 11c · Fees: accounting

    total $16,707 · program services $16,707

  • 11g · Fees: other

    total $47,569 · program services $47,569

  • 13 · Office expenses

    total $236,356 · program services $236,356

  • 16 · Occupancy

    total $254,757 · program services $254,757

  • 17 · Travel

    total $142,100 · program services $142,100

  • 19 · Conferences, conventions and meetings

    total $9,215 · program services $9,215

  • 20 · Interest

    total $1,615 · program services $1,615

  • 21 · Payments to affiliates

    total $239,003 · management and general $239,003

  • 24a · Other expenses: RENT EXPENSE

    total $249,775 · program services $249,775

  • 24b · Other expenses: CLIENT-RELATED EXPENSES

    total $142,397 · program services $142,397

  • 24c · Other expenses: AGENT FEES

    total $141,225 · program services $141,225

  • 24d · Other expenses: MAINTENANCE AND PROPERT

    total $73,387 · program services $73,387

  • 24e · All other expenses

    total $109,325 · program services $109,325

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $768,593 · end of year $980,746

  • 3 · Pledges and grants receivable

    beginning of year $8,131 · end of year $279,951

  • 9 · Prepaid expenses and deferred charges

    beginning of year $51,509 · end of year $50,874

  • 15 · Other assets

    beginning of year $0 · end of year $110,641

  • 17 · Accounts payable and accrued expenses

    beginning of year $271,404 · end of year $242,871

  • 25 · Other liabilities

    beginning of year $2,592,508 · end of year $1,157,160

  • 27 · Net assets without donor restrictions

    beginning of year -$2,235,871 · end of year -$468,162

  • 28 · Net assets with donor restrictions

    beginning of year $200,192 · end of year $490,343

Mission and programs · 2022

Mission

NAZARETH PREP IS AN INNOVATIVE INDEPENDENT CATHOLIC SCHOOL PROVIDING STUDENTS OF ALL FAITHS AND ECONOMIC STATUS WITH A HIGH SCHOOL EDUCATION LEADING TO COLLEGE OR STEM-FOCUSED CAREERS.

Activities or mission (Part I)

NAZARETH PREP IS A CATHOLIC HIGH SCHOOL FOR STUDENTS OF ALL FAITHS AND ECONOMIC BACKGROUNDS.

  • NAZARETH PREP IS AN INNOVATIVE INDEPENDENT CATHOLIC SCHOOL PROVIDING STUDENTS OF ALL FAITHS AND ECONOMIC STATUS WITH A HIGH SCHOOL EDUCATION LEADING TO COLLEGE OR STEM-FOCUSED CAREERS. THE RIGOROUS CURRICULUM IS COMBINED WITH A FOUR-YEAR CORPORATE INTERNSHIP THAT PREPARES STUDENTS WITH SOFT SKILLS WHILE CHARTING THEIR CAREER PATHWAY, WHETHER IT INCLUDES TRADITIONAL COLLEGE, AN APPRENTICESHIP, DIRECT TO WORK, OR ANY COMBINATION OF POST-SECONDARY TRAINING THROUGH FAITH AND PURPOSE-DRIVEN INSTRUCTION. NAZARETH PREP IS A SUBSIDIARY OF HOLY FAMILY INSTITUTE AND SUPPORTED BY THE FUNDRAISING EFFORTS OF HOLY FAMILY FOUNDATION, ANOTHER HFI SUBSIDIARY.

    Expenses $2,695,994 · Revenue $368,042

As filed on the 2022 return.

Listed in Part VII

  • PAUL R UHLER

    CHAIR

    Total calculated
    $0
    Hours/week
    1

  • SALLY K WADE

    VICE CHAIR

    Total calculated
    $0
    Hours/week
    1

  • JOHN R OLSZEWSKI

    TREASURER

    Total calculated
    $0
    Hours/week
    1

  • CHRISTOPHER H PHILLIPS

    SECRETARY

    Total calculated
    $0
    Hours/week
    1

  • STACY BROVITZ

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • JOHN PUTZIER

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • DENNIS GILFOYLE

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • MARK NUSSBAUM

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • TIMOTHY D HOLT

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • ILLANA R LANE

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • PATRICE MATAMOROS

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • MICHAEL SEXAUER

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • STEPHEN VAN METER

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • SISTER LINDA YANKOSKI CSFN EDD

    CEO

    Total calculated
    $265,401
    From this org
    $0
    From related orgs
    $0
    Other
    $265,401
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $0
    Bonus
    $0
    Other
    $0
    Deferred
    $0 + $259,506 related
    Nontaxable benefits
    $0 + $5,895 related
    Filer's total
    $0 + $265,401 related

  • MARK PALASTRO

    CFO

    Total calculated
    $162,703
    From this org
    $0
    From related orgs
    $146,179
    Other
    $16,524
    Hours/week
    40

  • RITA CANTON

    EXECUTIVE DIRECTOR/HEAD OF SCHOOL

    Total calculated
    $104,664
    From this org
    $96,717
    From related orgs
    $0
    Other
    $7,947
    Hours/week
    40

  • STACY TWEEDY

    EXECUTIVE DIRECTOR/HEAD OF SCHOOL

    Total calculated
    $84,531
    From this org
    $80,158
    From related orgs
    $0
    Other
    $4,373
    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

  • 1a · Housing allowance or residence for personal use
  • 2 · Substantiation required before reimbursing expenses
  • 3 · Independent compensation consultant
  • 3 · Compensation survey or study
  • 3 · Approval by the board or compensation committee

Answered no

  • 1b · Written policy on the line-1a expenses
  • 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

The filer's explanations (Part III)

PART I, LINE 1B
EXPENSES FOR THE RESIDENCE FOR PERSONAL USE ARE PAID BASED FROM ACTUAL INVOICES RECEIVED. COMPENSATION WAS NOT PAID DIRECTLY TO SISTER LINDA YANKOSKI. PAYMENTS WERE MADE TO HER ORDER, SISTERS OF THE HOLY FAMILY OF NAZARETH.

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.

Provenance

Return type
form_990
Tax year
2022
Filed
24 April 2024
IRS schema version
2022v5.0
Source object
202431169349302043

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