Bay Ridge Preparatory School: Nonprofit Profile, Financials & Form 990 (EIN 11-3444169)

Revenue by fiscal year
FY2020	$15.7M
FY2021	$17.5M
FY2022	$16.9M
FY2023	$18.0M
FY2024	$21.3M
FY2025	$24.9M

Expenses by fiscal year
FY2020	$15.0M
FY2021	$15.5M
FY2022	$16.1M
FY2023	$16.8M
FY2024	$18.9M
FY2025	$22.7M

Net assets by fiscal year
FY2020	$10.2M
FY2021	$12.2M
FY2022	$12.9M
FY2023	$14.2M
FY2024	$16.5M
FY2025	$18.6M

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2025. IRS ruling in Jul 1999.

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

Where the money goes

87 cents of each dollar spent went to programs.

87%

12%

Program services 87% · $19.7M Management & general 12% · $2.7M Fundraising 1% · $314K

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

15 people listed on the 990; $1.4M paid to officers and key staff.

Part VII, Section A · reportable compensation · most recent filed roster (FY2024); the FY2025 filing did not itemize Part VII

Charles Fasano

Head of School

$459,534Pt VII · Sec A

John Kugler

Dir. Bridge Program- Upper

$206,837Pt VII · Sec A

Sabina Clifford

Business Manager

$203,637Pt VII · Sec A

Julie Mayring

Director of the Middle Sch

$181,969Pt VII · Sec A

Chris Nuesell

Upper School Director

$180,236Pt VII · Sec A

Katherine George

Lower School Director

$166,452Pt VII · Sec A

Amar Kuchinad

Trustee

$0Pt VII · Sec A

Ralph Fasano

Trustee

$0Pt VII · Sec A

Charles Fasano’s $460K as Head of School is at the 86th percentile of top reported officer pay among 3683 $10–100M 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 · 7 named individuals · Part VII

Name	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020
Michael Dealy	—	—	—	$526,019	$327,232	$320,032
Charles Fasano	$459,534	$398,187	$336,756	$327,176	$320,620	$313,470
John Kugler	$206,837	$197,554	$190,036	$178,897	$170,814	$166,987
Sabina Clifford	$203,637	$198,018	$188,750	$177,711	$169,690	$177,550
Julie Mayring	$181,969	$173,811	$167,057	$156,902	$149,061	$145,849
Chris Nuesell	$180,236	$170,151	$163,185	$152,682	$144,747	$141,562
Katherine George	$166,452	$158,060	$151,060	$141,083	$133,345	$130,402

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.

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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 2Yes
Top official's pay set by an independent reviewPt VI · Ln 15aYes

Programs and updates

Educates children from kindergarten through twelfth grade.

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Provided by the organization

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1 program · $19.7M · in their own filed words · FY2024

01

Educational instruction for 373 students. Programs include a full array of academic, athletic, arts and extra-curricular student activities.

$19.7Mprogram expense

Funders

Who pays for it.

From grant filings on record. Receipts are incomplete: individual donors are never listed.

Grants

Schedule I · received and paid

Grants received · FY2024

Citadel Group FoundationFY2024$50K

Fidelity Investments Charitable Gift FundFY2024$10K

Foundation for a Just SocietyFY2024$7K

Charities Aid Foundation AmericaFY2024$6K

First Eagle Investment Management FoundationFY2024$5K

Al & Peggy Dematteis Family FoundationFY2024$1K

Total grants receivedfrom 6 funders$80K

See all 6 funders →

Grants paid · 18 grants · $7.6M · 2019–2024

Unitemized GrantFY2024$716,014

Unitemized GrantFY2024$296,840

Unitemized GrantFY2024$234,769

Unitemized GrantFY2023$916,317

Unitemized GrantFY2023$238,785

Unitemized GrantFY2023$189,745

Unitemized GrantFY2022$763,799

Unitemized GrantFY2022$268,995

Unitemized GrantFY2022$260,988

Unitemized GrantFY2021$886,906

Unitemized GrantFY2021$285,328

Unitemized GrantFY2021$238,593

Unitemized GrantFY2020$729,000

Unitemized GrantFY2020$335,033

Unitemized GrantFY2020$267,710

Unitemized GrantFY2019$612,675

Unitemized GrantFY2019$261,170

Unitemized GrantFY2019$142,610

By the numbers

The FY2025 990, line by line.

Download 990

from philanthropy.org

1The main four

Money inPt VIII

$24.9M

Ln 12

Fees for servicesLn 2g$20.0M

Other incomeLn 4–11$3.0M

Gifts and grantsLn 1h$941K

Money outPt IX

$22.7M

Ln 25

Programscol B$19.7M

Managementcol C$2.7M

Fundraisingcol D$314K

Owns and owesPt X

$18.6M

net assets · Ln 32

Cash and savingsLn 1–2$15.5M

Total assetsLn 16$61.1M

LiabilitiesLn 26$42.5M

PeoplePt VI, VII

15

listed · VII A

PaidVII A6

Voting boardVI 1a10

IndependentVI 1b9

2In more detail

Revenue in detailPt VIII

Gifts and grantsLn 1h$941K

Noncash giftsLn 1g$48K

Fundraising eventsLn 1c$139K

Fees for servicesLn 2g$20.0M

Investment incomeLn 3$925K

Other incomeLn 4–11$3.0M

Gains on assetsLn 7$25K

Total revenueLn 12$24.9M

Assets in detailPt X, end of year

CashLn 1$15.5M

Cash and savings togetherLn 1–2$15.5M

Land, buildings, equipmentLn 10c$26.0M

Other assetsLn 15$18.8M

Total assetsLn 16$61.1M

LiabilitiesLn 26$42.5M

Net assetsLn 32$18.6M

OperationsPt I, VI

EmployeesI 5154

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

Line	Start FY25	End FY25
Cash and savingsLn 1–2	$5.6M	$15.5M
Land, buildings, equipmentLn 10c	$12.6M	$26.0M
Total assetsLn 16	$43.5M	$61.1M
LiabilitiesLn 26	$27.0M	$42.5M
Net assetsLn 32	$16.5M	$18.6M

4Every line

Statement of functional expensesPt IX · every line

Line	Total	Programs	Management	Fundraising
Grants to domestic individualsLn 2	$1.2M	$1.2M
Pay of current officers, directors and key staffLn 5	$552K	$276K	$276K
Other salaries and wagesLn 7	$10.2M	$9.4M	$624K	$160K
Pension plan contributionsLn 8	$695K	$613K	$71K	$11K
Other employee benefitsLn 9	$2.6M	$2.4M	$162K	$33K
Payroll taxesLn 10	$814K	$734K	$68K	$12K
Other fees for servicesLn 11g	$274K	$67K	$207K
Advertising and promotionLn 12	$62K	$62K
Information technologyLn 14	$179K	$139K	$39K	$875
InterestLn 20	$1.4M	$1.4M	$2K	$173
Depreciation, depletion and amortizationLn 22	$968K	$941K	$25K	$2K
InsuranceLn 23	$299K	$34K	$264K	$1K
Other expenses (24a–d)Ln 24	$1.7M	$1.4M	$370K	$5K
All other expensesLn 24e	$1.7M	$1.0M	$595K	$88K
Total functional expensesLn 25	$22.7M	$19.7M	$2.7M	$314K

Filing history

Year	Money in	Money out	In minus out	Net assets	Download
FY2025 Latest Viewing	$24.9M	$22.7M	$2.1M	$18.6M	990 PDF
FY2024	$21.3M	$18.9M	$2.4M	$16.5M	990 PDF
FY2023	$18.0M	$16.8M	$1.2M	$14.2M	990 PDF
FY2022	$16.9M	$16.1M	$715K	$12.9M	990 PDF
FY2021	$17.5M	$15.5M	$2.0M	$12.2M	990 PDF
FY2020	$15.7M	$15.0M	$665K	$10.2M	990 PDF

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Schedules filed Part IV

III · Programs R · Related orgs G · Fundraising L · Interested persons I · Grants A · Public support M · Noncash J · Pay O · Explanations

See the full FY2025 990 (6 parts)

Part I · Summary $24,855,803 revenue, 12 lines filed

I-8 Contributions and grantsPrior year $1,965,718$940,870

I-9 Program service revenuePrior year $17,903,066$19,976,505

I-10 Investment incomePrior year $526,547$924,848

I-11 Other revenuePrior year $912,477$3,013,580

I-12 Total revenuePrior year $21,307,808$24,855,803

I-13 Grants and similar amounts paidPrior year $1,344,847$1,247,623

I-14 Benefits paid to membersPrior year $0$0

I-15 Salaries and benefitsPrior year $13,134,125$14,874,287

I-16a Professional fundraising feesPrior year $0$0

I-17 Other expensesPrior year $4,411,426$6,623,490

I-18 Total expensesPrior year $18,890,398$22,745,400

I-19 Revenue less expensesPrior year $2,417,410$2,110,403

Part VI · Governance 9 of 10 board members independent, 1 to look at

VI-1a Voting members of the governing body10

VI-1b Independent voting members9

VI-2 Family or business relationship among officers or directorsYes

VI-12a Written conflict of interest policyYes

VI-13 Written whistleblower policyYes

VI-14 Document retention and destruction policyYes

VI-15a Process for setting top official's payYes

Part VIII · Statement of revenue $24,855,803 across 10 lines filed

VIII-1c Fundraising events$138,529

VIII-1f All other contributions, gifts and grants$802,341

VIII-1g Noncash contributions (included above)$48,192

VIII-1h Total contributions, gifts and grants$940,870

VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $19,976,505$19,976,505

VIII-3 Investment incomeRelated to mission $900,250$900,250

VIII-7 Net gain or loss on sales of assetsRelated to mission $24,598$24,598

VIII-8 Net income from fundraising events$0

VIII-11a-d Other revenue, itemized rows (sum of 11a–11d as filed)Related to mission $3,013,580$3,013,580

VIII-12 Total revenueRelated to mission $23,914,933 · Unrelated business $0 · Excluded from tax $0$24,855,803

Part IX · Statement of functional expenses $22,745,400 across 14 lines filed

IX-2 Grants to domestic individualsPrograms $1,247,623$1,247,623

IX-5 Pay of current officers, directors and key staffPrograms $276,125 · Management $276,125$552,250

IX-7 Other salaries and wagesPrograms $9,434,621 · Management $623,581 · Fundraising $160,500$10,218,702

IX-8 Pension plan contributionsPrograms $612,643 · Management $71,397 · Fundraising $11,414$695,454

IX-9 Other employee benefitsPrograms $2,399,151 · Management $161,736 · Fundraising $33,010$2,593,897

IX-10 Payroll taxesPrograms $733,862 · Management $67,993 · Fundraising $12,129$813,984

IX-11g Other fees for servicesPrograms $66,987 · Management $207,454$274,441

IX-12 Advertising and promotionPrograms $62,122$62,122

IX-14 Information technologyPrograms $139,183 · Management $39,131 · Fundraising $875$179,189

IX-20 InterestPrograms $1,386,542 · Management $1,683 · Fundraising $173$1,388,398

IX-22 Depreciation, depletion and amortizationPrograms $940,862 · Management $25,222 · Fundraising $1,837$967,921

IX-23 InsurancePrograms $33,607 · Management $264,332 · Fundraising $1,061$299,000

IX-24 Other expenses (24a–d)Programs $1,372,638 · Management $370,029 · Fundraising $4,921$1,747,588

IX-24e All other expensesPrograms $1,021,544 · Management $595,460 · Fundraising $87,827$1,704,831

IX-25 Total functional expensesPrograms $19,727,510 · Management $2,704,143 · Fundraising $313,747$22,745,400

Part X · Balance sheet $61,114,301 assets, 14 lines filed

X-1 Cash, non-interest-bearingStart of year $5,628,143$15,542,468

X-4 Accounts receivableStart of year $475,187$536,253

X-9 Prepaid expenses and deferred chargesStart of year $279,149$264,857

X-10c Land, buildings and equipment, netStart of year $12,619,009$26,012,742

X-15 Other assetsStart of year $16,008,771$18,757,981

X-16 Total assetsStart of year $43,515,425$61,114,301

X-17 Accounts payable and accrued expensesStart of year $1,428,335$642,905

X-19 Deferred revenueStart of year $8,176,875$9,233,625

X-25 Other liabilitiesStart of year $369,013$32,589,092

X-26 Total liabilitiesStart of year $26,974,223$42,465,622

X-27 Net assets without donor restrictionsStart of year $16,451,202$18,648,679

X-28 Net assets with donor restrictionsStart of year $90,000$0

X-32 Total net assets or fund balancesStart of year $16,541,202$18,648,679

X-33 Total liabilities and net assetsStart of year $43,515,425$61,114,301

Part XI · Reconciliation of net assets $18,648,679 net assets at year end

XI-1 Total revenue$24,855,803

XI-2 Total expenses$22,745,400

XI-3 Revenue less expenses$2,110,403

XI-4 Net assets at start of year$16,541,202

XI-5 Net unrealized gains (losses) on investments−$2,926

XI-9 Other changes in net assets$0

XI-10 Net assets at end of year$18,648,679

Form 990 e-file (XML) FY2025 from the IRS · Classification, formation year and address from the IRS Business Master File

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