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Nonprofiteer
← PUBLIC PREPARATORY NETWORK INC

Form 990 for tax year 2023

Filed by PUBLIC PREPARATORY NETWORK INC.

Totals

Total revenue
$4,838,678
Total expenses
$6,737,357
Contributions and grants received
$358,655
Grants paid
$0
Program service revenue
$4,478,818
Investment income
$1,205
Other revenue
$0
Total assets, end of year
$451,178
Total liabilities, end of year
$2,838,411
Net assets or fund balances, end of year
-$2,387,233
Program services expenses (Part IX)
$5,132,336
Management and general expenses
$1,299,190
Fundraising expenses
$305,831
Program service expenses (Part III)
$5,132,336

Program services were 76.2% 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

    $358,655

  • 2a · Program service revenue: MANAGEMENT FEES

    total $4,475,122 · related or exempt $4,475,122

  • 2b · Program service revenue: OTHER INCOME

    total $3,696 · related or exempt $3,696

  • 3 · Investment income

    total $654 · excluded $654

  • 7a · Gross sales of assets other than inventory

    securities $25,749

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

    securities $25,198

  • 7c · Gain or loss

    securities $551

  • 7d · Net gain or loss

    total $551 · excluded $551

Functional expenses

Part IX, the statement of functional expenses.

  • 5 · Compensation of officers, directors and key employees

    total $1,430,948 · program services $1,144,759 · management and general $271,879 · fundraising $14,310

  • 7 · Other salaries and wages

    total $2,642,967 · program services $2,153,607 · management and general $320,974 · fundraising $168,386

  • 8 · Pension plan contributions

    total $78,332 · program services $63,836 · management and general $9,456 · fundraising $5,040

  • 9 · Other employee benefits

    total $294,503 · program services $239,257 · management and general $38,967 · fundraising $16,279

  • 10 · Payroll taxes

    total $285,997 · program services $231,627 · management and general $41,283 · fundraising $13,087

  • 11c · Fees: accounting

    total $27,066 · management and general $27,066

  • 11g · Fees: other

    total $1,239,546 · program services $681,216 · management and general $488,914 · fundraising $69,416

  • 12 · Advertising and promotion

    total $87,684 · program services $87,684

  • 13 · Office expenses

    total $80,675 · program services $31,854 · management and general $46,994 · fundraising $1,827

  • 14 · Information technology

    total $25,058 · program services $19,667 · management and general $4,263 · fundraising $1,128

  • 17 · Travel

    total $60,747 · program services $49,207 · management and general $8,718 · fundraising $2,822

  • 22 · Depreciation, depletion and amortization

    total $45,538 · program services $36,887 · management and general $6,535 · fundraising $2,116

  • 23 · Insurance

    total $54,306 · program services $43,990 · management and general $7,793 · fundraising $2,523

  • 24a · Other expenses: SCHOOL SUPPORT

    total $214,044 · program services $195,558 · management and general $13,965 · fundraising $4,521

  • 24b · Other expenses: STAFF DEVELOPMENT

    total $116,211 · program services $109,660 · management and general $4,672 · fundraising $1,879

  • 24c · Other expenses: TELEPHONE & INTERNET

    total $53,735 · program services $43,527 · management and general $7,711 · fundraising $2,497

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $22,892 · end of year $221,619

  • 2 · Savings and temporary cash investments

    beginning of year $47,483 · end of year $25,619

  • 3 · Pledges and grants receivable

    beginning of year $109,500 · end of year $25,000

  • 4 · Accounts receivable

    beginning of year $16,008 · end of year $0

  • 9 · Prepaid expenses and deferred charges

    beginning of year $93,499 · end of year $100,841

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

    $386,488

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

    $321,456

  • 10c · Land, buildings and equipment, net

    beginning of year $46,227 · end of year $65,032

  • 15 · Other assets

    beginning of year $0 · end of year $13,067

  • 17 · Accounts payable and accrued expenses

    beginning of year $568,265 · end of year $513,251

  • 19 · Deferred revenue

    end of year $559,132

  • 25 · Other liabilities

    beginning of year $255,898 · end of year $1,766,028

  • 27 · Net assets without donor restrictions

    beginning of year -$653,261 · end of year -$2,542,815

  • 28 · Net assets with donor restrictions

    beginning of year $164,707 · end of year $155,582

Mission and programs · 2023

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 $5,132,336 · Revenue $4,478,818

As filed on the 2023 return.

Listed in Part VII

  • Paul A Vermylen Jr

    TREASURER - RESIGNED JAN 2024

    Total calculated
    $0
    Hours/week
    1

  • Philip O Brandes

    DIRECTOR - RESIGNED SEPT 2023

    Total calculated
    $0
    Hours/week
    1

  • 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

  • Sarah Britton

    DIRECTOR - RESIGNED JUNE 2024

    Total calculated
    $0
    Hours/week
    1

  • Samuel Green

    DIRECTOR - RESIGNED FEB 2024

    Total calculated
    $0
    Hours/week
    1

  • Bryan Lawrence

    DIRECTOR - RESIGNED JAN 2024

    Total calculated
    $0
    Hours/week
    1

  • Janelle Bradshaw

    CEO - RESIGNED AUG 2024

    Total calculated
    $519,288
    From this org
    $475,134
    From related orgs
    $0
    Other
    $44,154
    Hours/week
    41 + 1 related

    Schedule J breakdown matched by us

    Base
    $345,134
    Bonus
    $130,000
    Other
    $0
    Deferred
    $14,250
    Nontaxable benefits
    $29,904
    Filer's total
    $519,288

  • Jeannemarie Hendershot

    CHIEF OPERATING OFFICER

    Total calculated
    $277,446
    From this org
    $250,937
    From related orgs
    $0
    Other
    $26,509
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $218,333
    Bonus
    $32,604
    Other
    $0
    Deferred
    $9,183
    Nontaxable benefits
    $17,326
    Filer's total
    $277,446

  • Jenny Zambrano

    CFO - RESIGNED JAN 2024

    Total calculated
    $213,807
    From this org
    $212,407
    From related orgs
    $0
    Other
    $1,400
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $212,407
    Bonus
    $0
    Other
    $0
    Deferred
    $1,400
    Nontaxable benefits
    $0
    Filer's total
    $213,807

  • Keisha Morris

    MANAGING DIRECTOR OF OPERATION

    Total calculated
    $160,049
    From this org
    $160,049
    From related orgs
    $0
    Other
    $0
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $160,049
    Bonus
    $0
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $0
    Filer's total
    $160,049

  • Giuseppa L Carbone

    SUPERINTENDENT

    Total calculated
    $315,338
    From this org
    $273,742
    From related orgs
    $0
    Other
    $41,596
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $222,596
    Bonus
    $51,146
    Other
    $0
    Deferred
    $11,692
    Nontaxable benefits
    $29,904
    Filer's total
    $315,338

  • Emilee Christopher

    CHIEF TALENT OFFICER

    Total calculated
    $284,168
    From this org
    $242,904
    From related orgs
    $0
    Other
    $41,264
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $208,127
    Bonus
    $34,777
    Other
    $0
    Deferred
    $11,360
    Nontaxable benefits
    $29,904
    Filer's total
    $284,168

  • Rafet Abdeljabbar

    MANAGING DIRECTOR OF TALENT

    Total calculated
    $166,766
    From this org
    $142,051
    From related orgs
    $0
    Other
    $24,715
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $142,051
    Bonus
    $0
    Other
    $0
    Deferred
    $7,389
    Nontaxable benefits
    $17,326
    Filer's total
    $166,766

  • Michael Burgevin

    CHIEF ACADEMIC OFFICER

    Total calculated
    $221,137
    From this org
    $201,750
    From related orgs
    $0
    Other
    $19,387
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $189,366
    Bonus
    $12,384
    Other
    $0
    Deferred
    $9,631
    Nontaxable benefits
    $9,756
    Filer's total
    $221,137

  • Caitlin Omeis

    MANAGING DIRECTOR OF SFA

    Total calculated
    $165,260
    From this org
    $128,400
    From related orgs
    $0
    Other
    $36,860
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $128,400
    Bonus
    $0
    Other
    $0
    Deferred
    $6,956
    Nontaxable benefits
    $29,904
    Filer's total
    $165,260

  • Julie Anne Garretson

    DIRECTOR OF OPERATIONS AND SCHOOL SUPPORT

    Total calculated
    $138,274
    From this org
    $128,518
    From related orgs
    $0
    Other
    $9,756
    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 · 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 CEO COMPENSATION AND BONUS WAS DETERMINED AND APPROVED BY THE BOARD OF TRUSTEES BASED ON PERFORMANCE, ALL OTHER BONUSES ARE DETERMINED BY THE CEO.

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
24 April 2025
IRS schema version
2023v6.0
Source object
202521229349302402

Check it against the return as filed: the GivingTuesday Data Lake hosts a public copy of the original XML.

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