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Nonprofiteer
← ROCHESTER PREP FOUNDATION INC

Form 990 for tax year 2024

Filed by ROCHESTER PREP FOUNDATION INC.

Totals

Total revenue
$2,722,075
Total expenses
$2,931,553
Contributions and grants received
$308,912
Grants paid
$308,912
Program service revenue
$2,270,522
Investment income
$142,641
Other revenue
$0
Total assets, end of year
$38,727,948
Total liabilities, end of year
$31,641,036
Net assets or fund balances, end of year
$7,086,912
Program services expenses (Part IX)
$2,931,553
Management and general expenses
$0
Fundraising expenses
$0
Program service expenses (Part III)
$2,931,553

Program services were 100.0% 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.

  • 1d · Related organizations

    $308,912

  • 2a · Program service revenue: RENTAL INCOME

    total $2,112,060 · related or exempt $2,112,060

  • 2b · Program service revenue: INTEREST INCOME

    total $158,462 · related or exempt $158,462

  • 3 · Investment income

    total $142,641 · excluded $142,641

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $308,912 · program services $308,912

  • 11a · Fees: management

    total $61,713 · program services $61,713

  • 11b · Fees: legal

    total $16,907 · program services $16,907

  • 11g · Fees: other

    total $9,152 · program services $9,152

  • 16 · Occupancy

    total $46,696 · program services $46,696

  • 20 · Interest

    total $1,489,444 · program services $1,489,444

  • 22 · Depreciation, depletion and amortization

    total $975,572 · program services $975,572

  • 24a · Other expenses: MISCELLANEOUS ADMINISTR

    total $23,157 · program services $23,157

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $993,106 · end of year $1,197,635

  • 2 · Savings and temporary cash investments

    beginning of year $1,614 · end of year $1,614

  • 9 · Prepaid expenses and deferred charges

    beginning of year $89,004 · end of year $89,005

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

    $40,080,384

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

    $5,573,744

  • 10c · Land, buildings and equipment, net

    beginning of year $35,482,212 · end of year $34,506,640

  • 15 · Other assets

    beginning of year $2,858,137 · end of year $2,933,054

  • 17 · Accounts payable and accrued expenses

    beginning of year $1,762

  • 19 · Deferred revenue

    beginning of year $557,156 · end of year $528,260

  • 20 · Tax-exempt bond liabilities

    beginning of year $29,310,000 · end of year $28,970,000

  • 23 · Secured mortgages and notes payable

    beginning of year $2,136,322 · end of year $2,073,699

  • 25 · Other liabilities

    beginning of year $122,443 · end of year $69,077

  • 27 · Net assets without donor restrictions

    beginning of year $7,296,390 · end of year $7,086,912

Mission and programs · 2024

Mission

ROCHESTER PREP FOUNDATION WAS FORMED TO SUPPORT ROCHESTER PREPARATORY CHARTER SCHOOLS, BOTH OPERATIONALLY AND IN CONNECTION WITH THE ACQUISITION AND DEVELOPMENT OF FACILITIES.

  • EXPENSES INCURRED IN SUPPORTING ROCHESTER PREPARATORY CHARTER SCHOOLS. PLEASE REFER TO FORM 990, PART III, LINE 1, FOR THE ORGANIZATION'S MISSION.

    Expenses $2,931,553 · Grants $308,912 · Revenue $2,270,522

As filed on the 2024 return.

Listed in Part VII

  • Brett Peiser

    DIRECTOR/CO-CEO

    Total calculated
    $738,075
    From this org
    $0
    From related orgs
    $687,895
    Other
    $50,180
    Hours/week
    1 + 46 related

    Schedule J breakdown matched by us

    Base
    $0 + $687,895 related
    Bonus
    $0
    Other
    $0
    Deferred
    $0 + $26,000 related
    Nontaxable benefits
    $0 + $24,180 related
    Filer's total
    $0 + $738,075 related

  • Rondo Moses

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1 + 2 related

  • Norman Atkins

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1 + 6 related

  • John Powell

    CFO

    Total calculated
    $328,918
    From this org
    $0
    From related orgs
    $325,418
    Other
    $3,500
    Hours/week
    1 + 45 related

    Schedule J breakdown matched by us

    Base
    $0 + $300,418 related
    Bonus
    $0 + $25,000 related
    Other
    $0
    Deferred
    $0 + $3,500 related
    Nontaxable benefits
    $0
    Filer's total
    $0 + $328,918 related

  • Peggy Liao

    SENIOR DIRECTOR, FP&A

    Total calculated
    $205,263
    From this org
    $0
    From related orgs
    $196,544
    Other
    $8,719
    Hours/week
    1 + 45 related

    Schedule J breakdown matched by us

    Base
    $0 + $196,544 related
    Bonus
    $0
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $0 + $8,719 related
    Filer's total
    $0 + $205,263 related

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

None.

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

The filer's explanations (Part III)

PART I, LINE 3
THREE OF ROCHESTER PREP FOUNDATION, INC.'S DIRECTORS AND/OR OFFICERS ARE EMPLOYEES OF UNCOMMON SCHOOLS, INC. THESE INDIVIDUALS ARE COMPENSATED ONLY FOR THEIR EMPLOYMENT SERVICES TO UNCOMMON SCHOOLS, INC. THE COMPENSATION IS PAID ONLY BY UNCOMMON SCHOOLS, INC. UNCOMMON SCHOOLS, INC.'S BOARD OF DIRECTORS HAS A COMPENSATION COMMITTEE ("THE COMMITTEE"). THE COMMITTEE COMPLETED A COMPARATIVE ANALYSIS OF SIMILAR ORGANIZATIONS WHICH IT USED AS GUIDANCE WHEN IT REVIEWED AND APPROVED COMPENSATION AND BENEFITS OF THE ORGANIZATION'S CO-CHIEF EXECUTIVE OFFICERS. THE COMMITTEE REVIEWED AND APPROVED THE TOTAL COMPENSATION OF THE INDIVIDUALS WHICH INCLUDED BOTH CURRENT AND DEFERRED COMPENSATION AND ALL EMPLOYEE BENEFITS, BOTH QUALIFIED AND NON-QUALIFIED. THE COMPENSATION AND BENEFITS OF CERTAIN OTHER INDIVIDUALS EMPLOYED BY UNCOMMON SCHOOLS, INC. ARE REVIEWED ANNUALLY BY THE CO-CHIEF EXECUTIVE OFFICERS WITH ASSISTANCE FROM UNCOMMON SCHOOLS, INC.'S HUMAN RESOURCES DEPARTMENT. THIS ANNUAL REVIEW OF SALARIES OCCURS DURING THE BUDGETING PROCESS. THE REVIEW INCLUDES A CONSIDERATION OF OBJECTIVE FACTORS DESIGNED TO ENSURE THAT REASONABLE AND FAIR COMPENSATION IS PAID BY UNCOMMON SCHOOLS, INC. THE OBJECTIVE FACTORS INCLUDE EACH INDIVIDUAL'S JOB RESPONSIBILITIES, COMPARABLE COMPENSATION DATA, MANAGER, PEER AND SELF REVIEW INFORMATION, AMONG OTHERS.

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

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.

Disregarded entities

Part I: entities that legally are the filer and file no return of their own.

  • TRUE NORTH PARKING LLC

    REAL ESTATE · DE · income $0 · assets $10,000

    Directly controlled by ROCHESTER PREP FOUNDATION INC

  • TRUE NORTH ROCHESTER REAL ESTATE LLC

    REAL ESTATE · DE · income $48,960 · assets $835,834

    Directly controlled by ROCHESTER PREP FOUNDATION INC

  • TRUE NORTH ROCHESTER REAL ESTATE AMES STREET LLC

    REAL ESTATE · NY · income $194,876 · assets $1,283,947

    Directly controlled by ROCHESTER PREP FOUNDATION INC

  • ROCHESTER CHILI AVENUE LLC

    REAL ESTATE · NJ · income $150,868 · assets $3,735,880

    Directly controlled by ROCHESTER PREP FOUNDATION INC

  • TRUE NORTH ANDREWS STREET LLC

    REAL ESTATE · NY · income $232,017 · assets $5,397,003

    Directly controlled by ROCHESTER PREP FOUNDATION INC

  • TRUE NORTH ST JACOB STREET LLC

    REAL ESTATE · NY · income $102,129 · assets $2,102,156

    Directly controlled by ROCHESTER PREP FOUNDATION INC

  • TRUE NORTH ROCHESTER MARK STREET LLC

    REAL ESTATE · NY · income $1,665,457 · assets $24,917,287

    Directly controlled by ROCHESTER PREP FOUNDATION INC

Provenance

Return type
form_990
Tax year
2024
Filed
12 May 2026
IRS schema version
2024v5.5
Source object
202611339349303566

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