The Corner School FY2024 filing

Tax-deductible

Flushing, NY501(c)(3)Since 1957EducationEIN 11-1807542

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Provide early childhood education

501(c)(3) charity; gifts are tax-deductible.
82¢ of each $1 spent went to programs.
$63K paid to officers and key staff.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX · Pay: Part VII

Before you give

FY2024 · Form 990Independent: from IRS data, not the org
Download 990
IRS status
501(c)(3)
not on the IRS revocation list
Looks good: listed by the IRS and not on the revocation list.
IRS BMF · Auto-Revocation List
Tax-deductible gifts
Yes
Donations are tax-deductible
Looks good: the IRS lists gifts to it as deductible.
IRS Pub. 78 · IRS BMF
Latest return
FY2024
latest Form 990
Looks good: the latest return is for FY2024, 2 tax years back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
2 of 4
filings with a surplus
Average surplus $29K a year · 6% of revenue · last 4 filings
Worth a look: a surplus in 2 of the last 4 filings.
Pt I · Ln 19 · 4 filings
Spent on programs
82%
of spending
Looks good: 82% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Pay to officers and key staff
$63K
to officers and key staff · 12% of spending
Looks good: pay to officers and key staff is 12% of spending; 15% or less.
Pt VII · Sec A
Cash reserves
6 mo
of spending, in cash
Looks good: 5.8 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Liabilities
$207K
69% of total assets
Worth a look: liabilities are 69% of assets; over 65%.
Pt X · Ln 26
Independent board members
5
of 5 voting members
Looks good: 5 of 5 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$517K
-8% vs prior year
Spent
$525K
To programs
82%
Net assets
$92K
By yearFY2021–FY2024
Revenue
$517K
FY2024▼ -8%
Revenue by fiscal year
FY2021$157K
FY2022$627K
FY2023$561K
FY2024$517K
FY2024$533K
Expenses
$525K
FY2024▲ +1.0%
Expenses by fiscal year
FY2021$245K
FY2022$457K
FY2023$520K
FY2024$525K
FY2024$479K
Net assets
$92K
FY2024▼ -52%
Net assets by fiscal year
FY2021−$20K
FY2022$151K
FY2023$192K
FY2024$92K
FY2024$146K

From the FY2024 Form 990 (year ending August 2024) · see the original

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Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2024. IRS ruling in Dec 1959.

IRS Pub. 78 · IRS Auto-Revocation List · IRS Business Master File

Where the money goes

82 cents of each dollar spent went to programs.

Program services 82% · $429K Management & general 16% · $84K Fundraising 2% · $11K

Form 990 Part IX, line 25, columns B–D. Every line is in By the numbers.

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Who runs it and what they're paid

6 people listed on the 990; $63K paid to officers and key staff.

Part VII, Section A · reportable compensation · most recent filed roster (FY2023); the FY2024 filing did not itemize Part VII
Education Director
$62,988Pt VII · Sec A
President
$0Pt VII · Sec A
Vice President
$0Pt VII · Sec A
Treasurer
$0Pt VII · Sec A
Secretary
$0Pt VII · Sec A
Secretary
$0Pt VII · Sec A

Sandra Quigley’s $58K as Admin Director is at the 50th percentile of top reported officer pay among 1612 $100K–1M education nonprofits. Peer set: organizations in the same NTEE major field of work and revenue-size band, compared on each org’s own highest-paid officer/key-employee, from Form 990 Part VII / 990-PF Part VIII. Descriptive placement, not a verdict on whether the pay is appropriate.

Compensation history total reportable pay by year · 2 named individuals · Part VII

NameFY2024FY2024FY2023FY2022
Ruthlynne Nack—$62,988$60,331$37,526
Sandra Quigley$58,150———

Total reportable compensation (Form 990 Part VII column D / Schedule J column E) by filing year, matched by name within this organization. The Schedule J base / bonus / deferred breakdown is not parsed into this dataset.

See The Corner School executive salaries →

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Questions the 990 asks

The form asks each of these directly. These are the filed answers.

  • Family or business ties among officersPt VI · Ln 2No
  • Top official's pay set by an independent reviewPt VI · Ln 15aYes

Programs and updates

Offers early childhood education programs for young children.

Provided by the organization

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1 program service account for $429K of program spending, described in the organization's own filed words · FY2023.
01

Provide early childhood education

$429Kprogram expense

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By the numbers

The FY2024 990, line by line.

1The main four
Money inPt VIII
$517K
Ln 12
Gifts and grantsLn 1h$508K
Fees for servicesLn 2g$9K
Other incomeLn 4–11$313
Money outPt IX
$525K
Ln 25
Programscol B$429K
Managementcol C$84K
Fundraisingcol D$11K
Owns and owesPt X
$92K
net assets · Ln 32
Cash and savingsLn 1–2$253K
Total assetsLn 16$299K
LiabilitiesLn 26$207K
PeoplePt VI, VII
6
listed · VII A
PaidVII A1
Voting boardVI 1a5
IndependentVI 1b5
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$508K
Government grantsLn 1e$508K
Fees for servicesLn 2g$9K
Investment incomeLn 3$37
Other incomeLn 4–11$313
Total revenueLn 12$517K
Assets in detailPt X, end of year
CashLn 1$253K
Cash and savings togetherLn 1–2$253K
Land, buildings, equipmentLn 10c$46K
Other assetsLn 15$25
Total assetsLn 16$299K
LiabilitiesLn 26$207K
Net assetsLn 32$92K
OperationsPt I, VI
EmployeesI 514
VolunteersI 60
Fiscal year endsHeaderAugust
Conflict-of-interest policyVI 12aYes
Whistleblower policyVI 13Yes
Records policyVI 14Yes
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY24End FY24
Cash and savingsLn 1–2$174K$253K
Land, buildings, equipmentLn 10c$52K$46K
Total assetsLn 16$287K$299K
LiabilitiesLn 26$188K$207K
Net assetsLn 32$99K$92K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Pay of current officers, directors and key staffLn 5$63K$25K$32K$5K
Pay of disqualified personsLn 6$306K$306K$0$0
Payroll taxesLn 10$33K$30K$3K$665
Accounting feesLn 11c$25K$0$20K$5K
Office expensesLn 13$1K$1K$218$0
Depreciation, depletion and amortizationLn 22$6K$5K$2K$0
InsuranceLn 23$23K$0$23K$0
Other expenses (24a–d)Ln 24$42K$42K$185$0
All other expensesLn 24e$25K$20K$4K$834
Total functional expensesLn 25$525K$429K$84K$11K

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 Viewing $517K$525K−$7K$92K 990 PDF
FY2023 $561K$520K$41K$192K 990 PDF
FY2022 $627K$457K$171K$151K 990 PDF
FY2021 $157K$245K−$88K−$20K 990 PDF

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Schedules filed Part IV

III · Programs I · Grants R · Related orgs G · Fundraising L · Interested persons A · Public support F · Foreign M · Noncash
See the full FY2024 990 (4 parts)
Part VIII · Statement of revenue $517,303 across 6 lines filed
VIII-1e Government grants$508,093
VIII-1h Total contributions, gifts and grants$508,093
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Unrelated business $0 · Excluded from tax $0$8,860
VIII-3 Investment incomeUnrelated business $0 · Excluded from tax $37$37
VIII-11a-d Other revenue, itemized rows (sum of 11a–11d as filed)Related to mission $0 · Unrelated business $0 · Excluded from tax $313$313
VIII-12 Total revenueRelated to mission $8,860 · Unrelated business $0 · Excluded from tax $350$517,303
Part IX · Statement of functional expenses $524,593 across 9 lines filed
IX-5 Pay of current officers, directors and key staffPrograms $25,488 · Management $32,500 · Fundraising $5,000$62,988
IX-6 Pay of disqualified personsPrograms $306,058 · Management $0 · Fundraising $0$306,058
IX-10 Payroll taxesPrograms $29,913 · Management $2,659 · Fundraising $665$33,237
IX-11c Accounting feesPrograms $0 · Management $19,840 · Fundraising $4,960$24,800
IX-13 Office expensesPrograms $1,144 · Management $218 · Fundraising $0$1,362
IX-22 Depreciation, depletion and amortizationPrograms $4,561 · Management $1,521 · Fundraising $0$6,082
IX-23 InsurancePrograms $0 · Management $23,084 · Fundraising $0$23,084
IX-24 Other expenses (24a–d)Programs $42,048 · Management $185 · Fundraising $0$42,233
IX-24e All other expensesPrograms $19,849 · Management $4,066 · Fundraising $834$24,749
IX-25 Total functional expensesPrograms $429,061 · Management $84,073 · Fundraising $11,459$524,593
Part X · Balance sheet $298,825 assets, 11 lines filed
X-1 Cash, non-interest-bearingStart of year $173,568$252,577
X-3 Pledges and grants receivableStart of year $40,205$374
X-10c Land, buildings and equipment, netStart of year $51,931$45,849
X-15 Other assetsStart of year $25$25
X-16 Total assetsStart of year $286,569$298,825
X-17 Accounts payable and accrued expensesStart of year $8,707$19,217
X-19 Deferred revenueStart of year $178,893$187,929
X-26 Total liabilitiesStart of year $187,600$207,146
X-27 Net assets without donor restrictionsStart of year $98,969$91,679
X-32 Total net assets or fund balancesStart of year $98,969$91,679
X-33 Total liabilities and net assetsStart of year $286,569$298,825
Part XI · Reconciliation of net assets $91,679 net assets at year end
XI-1 Total revenue$517,303
XI-2 Total expenses$524,593
XI-3 Revenue less expenses−$7,290
XI-4 Net assets at start of year$98,969
XI-10 Net assets at end of year$91,679

Form 990 e-file (XML) FY2024 from the IRS · Classification, formation year and address from the IRS Business Master File

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