The Reece School provides an academic lower and upper School special education program for children who require more support than can be provided in a traditional public School setting. Reece students are academically capable but may be psychologically fragile or face challenges that impact their ability to fully access their education in their current placement. Our mission is to empower each student to reach their full potential in a nurturing, structured, and supportive environment.

501(c)(3) charity; gifts are tax-deductible.
90¢ of each $1 spent went to programs.
Run by 6 volunteers and 154 employees.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX · People: Part I, lines 5–6

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FY2025 · 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
FY2025
latest Form 990
Looks good: the latest return is for FY2025, 1 tax year back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
1 of 6
filings with a surplus
Average deficit $380K a year · 4% of revenue · last 6 filings
Concern: a surplus in 1 of the last 6 filings.
Pt I · Ln 19 · 6 filings
Spent on programs
90%
of spending
Looks good: 90% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Pay to officers and key staff
$1.1M
to officers and key staff · 7% of spending
Looks good: pay to officers and key staff is 7% of spending; 15% or less.
Pt VII · Sec A
<1 mo
of spending, in cash
Concern: 0.1 months of spending in cash; under 2 weeks.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
2
named funders · $5K
Fine: 2 funders name it on their filings; under 3.
Funders’ Sch. I, 990-PF
Liabilities
$21.3M
97% of total assets
Concern: liabilities are 97% of assets; over 80%.
Pt X · Ln 26
Independent board members
6
of 6 voting members
Looks good: 6 of 6 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$14.5M
+32% vs prior year
Spent
$14.6M
To programs
90%
Net assets
$609K
By yearFY2020–FY2025
Revenue
$14.5M
FY2025▲ +32%
Tap a bar for its year
Revenue by fiscal year
FY2020$8.6M
FY2021$9.4M
FY2022$8.1M
FY2023$9.5M
FY2024$11.0M
FY2025$14.5M
Expenses
$14.6M
FY2025▲ +16%
Tap a bar for its year
Expenses by fiscal year
FY2020$8.7M
FY2021$8.8M
FY2022$8.7M
FY2023$10.1M
FY2024$12.5M
FY2025$14.6M
Net assets
$609K
FY2025▲ +236%
Tap a bar for its year
Net assets by fiscal year
FY2020−$667K
FY2021−$334K
FY2022−$1.4M
FY2023$1.1M
FY2024−$447K
FY2025$609K

From the FY2025 Form 990 (year ending June 2025) · figures checked against the IRS filing · see the original

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Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2025. IRS ruling in Dec 1951.

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

Where the money goes

90 cents of each dollar spent went to programs.

Program services 90% · $13.1M Management & general 10% · $1.4M Fundraising 0% · $6K

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

13 people listed on the 990; $1.1M 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
Executive Director
$278,064Pt VII · Sec A
Chief Financial Officer
$201,510Pt VII · Sec A
Curriculum Coordinator
$137,123Pt VII · Sec A
Social Skills Coordinator
$128,177Pt VII · Sec A
Clinical Coordinator
$125,740Pt VII · Sec A
Speech Therapist
$111,038Pt VII · Sec A
Curriculum Upper School
$108,746Pt VII · Sec A
Board Member
$0Pt VII · Sec A

Compensation history total reportable pay by year · 8 named individuals · Part VII

NameFY2025FY2024FY2023FY2022FY2021FY2020
Duncan Lester$278,064$262,095$245,505$218,864$213,299$196,618
Paulo Souza$201,510$189,410$172,372$153,735$147,621$140,270
Ashley L Gartner$137,123$127,937$121,774$106,388$106,072—
Karen Sullivan$128,177$131,063$122,925$110,881$113,106$109,304
Erica Corvin$125,740$124,330$105,876—$100,078—
David Nisenbaum————$119,736$117,987
Jaclyn Lopresti$111,038—————
Thomas Boyle$108,746$104,403————

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 2No
  • Top official's pay set by an independent reviewPt VI · Ln 15aYes

Programs and updates

Provides academic and therapeutic programs for 90 psychologically fragile children in New York City.

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2 programs · $13.1M · in their own filed words · FY2024
01

The reece school serves academically capable students who may be psychologically fragile or have challenges that interfere with their ability to succeed in a traditional school environment. Our students may have speech and language impairments, emotional or learning disabilities, autism classifications, or other special needs.

$12.9Mprogram expense
02

The reece school offers a range of supplemental programs funded by idea grants from federal agencies. These programs, which are not included in the nysed tuition rate, are designed to support student development beyond the traditional school day.

$199Kprogram expense

Funders

Who pays for it.

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

Grants

Schedule I · funders on record
Grants received · FY2024
Total grants receivedfrom 2 funders$5K

By the numbers

The FY2025 990, line by line.

1The main four
Money inPt VIII
$14.5M
Ln 12
Fees for servicesLn 2g$14.3M
Gifts and grantsLn 1h$158K
Other incomeLn 4–11$50K
Money outPt IX
$14.6M
Ln 25
Programscol B$13.1M
Managementcol C$1.4M
Fundraisingcol D$6K
Owns and owesPt X
$609K
net assets · Ln 32
Cash and savingsLn 1–2$130K
Total assetsLn 16$21.9M
LiabilitiesLn 26$21.3M
PeoplePt VI, VII
13
listed · VII A
PaidVII A7
Voting boardVI 1a6
IndependentVI 1b6
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$158K
Government grantsLn 1e$158K
Fees for servicesLn 2g$14.3M
Other incomeLn 4–11$50K
Total revenueLn 12$14.5M
Assets in detailPt X, end of year
CashLn 1$130K
Cash and savings togetherLn 1–2$130K
Land, buildings, equipmentLn 10c$406K
Other assetsLn 15$18.8M
Total assetsLn 16$21.9M
LiabilitiesLn 26$21.3M
Net assetsLn 32$609K
OperationsPt I, VI
EmployeesI 5154
VolunteersI 66
Fiscal year endsHeaderJune
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 FY25End FY25
Cash and savingsLn 1–2$166K$130K
Land, buildings, equipmentLn 10c$501K$406K
Total assetsLn 16$22.8M$21.9M
LiabilitiesLn 26$22.1M$21.3M
Net assetsLn 32$710K$609K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Pay of current officers, directors and key staffLn 5$563K$513K$51K
Pay of disqualified personsLn 6$182K$182K
Other salaries and wagesLn 7$7.8M$7.1M$718K
Pension plan contributionsLn 8$126K$116K$10K
Other employee benefitsLn 9$813K$747K$65K
Payroll taxesLn 10$774K$712K$62K
Legal feesLn 11b$40K$40K
Accounting feesLn 11c$131K$131K
Other fees for servicesLn 11g$448K$321K$127K
Advertising and promotionLn 12$14K$14K
Office expensesLn 13$414K$393K$16K$5K
Information technologyLn 14$64K$64K
OccupancyLn 16$2.3M$2.3M
TravelLn 17$45K$45K
Conferences, conventions and meetingsLn 19$66K$66K
InterestLn 20$143K$26K$117K$104
Depreciation, depletion and amortizationLn 22$135K$88K$46K$704
InsuranceLn 23$91K$44K$47K
Other expenses (24a–d)Ln 24$442K$442K
Total functional expensesLn 25$14.6M$13.1M$1.4M$6K

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2025 Latest Viewing $14.5M$14.6M−$54K$609K 990 PDF
FY2024 $11.0M$12.5M−$1.5M−$447K 990 PDF
FY2023 $9.5M$10.1M−$634K$1.1M 990 PDF
FY2022 $8.1M$8.7M−$583K−$1.4M 990 PDF
FY2021 $9.4M$8.8M$571K−$334K 990 PDF
FY2020 $8.6M$8.7M−$38K−$667K 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 J · Pay O · Explanations
See the full FY2025 990 (6 parts)
Part I · Summary $14,522,269 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $50,360$158,154
I-9 Program service revenuePrior year $12,206,978$14,313,863
I-10 Investment incomePrior year $0$0
I-11 Other revenuePrior year $72,582$50,252
I-12 Total revenuePrior year $12,329,920$14,522,269
I-13 Grants and similar amounts paidPrior year $0$0
I-14 Benefits paid to membersPrior year $0$0
I-15 Salaries and benefitsPrior year $8,792,387$10,238,760
I-16a Professional fundraising feesPrior year $0$0
I-17 Other expensesPrior year $3,847,487$4,337,630
I-18 Total expensesPrior year $12,639,874$14,576,390
I-19 Revenue less expensesPrior year −$309,954−$54,121
Part VI · Governance 6 of 6 board members independent, no flags
VI-1a Voting members of the governing body6
VI-1b Independent voting members6
VI-2 Family or business relationship among officers or directorsNo
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 $14,522,269 across 5 lines filed
VIII-1e Government grants$158,154
VIII-1h Total contributions, gifts and grants$158,154
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $14,313,863$14,313,863
VIII-11a-d Other revenue, itemized rows (sum of 11a–11d as filed)Excluded from tax $50,252$50,252
VIII-12 Total revenueRelated to mission $14,313,863 · Unrelated business $0 · Excluded from tax $50,252$14,522,269
Part IX · Statement of functional expenses $14,576,390 across 19 lines filed
IX-5 Pay of current officers, directors and key staffPrograms $512,577 · Management $50,511$563,088
IX-6 Pay of disqualified personsPrograms $182,432$182,432
IX-7 Other salaries and wagesPrograms $7,061,869 · Management $718,314$7,780,183
IX-8 Pension plan contributionsPrograms $115,944 · Management $10,140$126,084
IX-9 Other employee benefitsPrograms $747,374 · Management $65,363$812,737
IX-10 Payroll taxesPrograms $711,970 · Management $62,266$774,236
IX-11b Legal feesManagement $39,853$39,853
IX-11c Accounting feesManagement $131,335$131,335
IX-11g Other fees for servicesPrograms $321,128 · Management $127,080$448,208
IX-12 Advertising and promotionPrograms $13,594$13,594
IX-13 Office expensesPrograms $392,696 · Management $16,219 · Fundraising $5,251$414,166
IX-14 Information technologyPrograms $63,648$63,648
IX-16 OccupancyPrograms $2,304,082$2,304,082
IX-17 TravelPrograms $45,300$45,300
IX-19 Conferences, conventions and meetingsPrograms $65,814$65,814
IX-20 InterestPrograms $26,422 · Management $116,920 · Fundraising $104$143,446
IX-22 Depreciation, depletion and amortizationPrograms $87,879 · Management $46,373 · Fundraising $704$134,956
IX-23 InsurancePrograms $44,481 · Management $46,819$91,300
IX-24 Other expenses (24a–d)Programs $441,928$441,928
IX-25 Total functional expensesPrograms $13,139,138 · Management $1,431,193 · Fundraising $6,059$14,576,390
Part X · Balance sheet $21,891,587 assets, 13 lines filed
X-1 Cash, non-interest-bearingStart of year $165,804$130,134
X-3 Pledges and grants receivableStart of year $17,088$118,814
X-4 Accounts receivableStart of year $2,057,076$2,462,751
X-10c Land, buildings and equipment, netStart of year $500,971$406,247
X-15 Other assetsStart of year $20,045,677$18,773,641
X-16 Total assetsStart of year $22,786,616$21,891,587
X-17 Accounts payable and accrued expensesStart of year $1,441,604$1,340,033
X-25 Other liabilitiesStart of year $19,114,966$18,311,403
X-26 Total liabilitiesStart of year $22,076,285$21,282,132
X-27 Net assets without donor restrictionsStart of year $710,331$609,455
X-28 Net assets with donor restrictionsStart of year $0$0
X-32 Total net assets or fund balancesStart of year $710,331$609,455
X-33 Total liabilities and net assetsStart of year $22,786,616$21,891,587
Part XI · Reconciliation of net assets $609,455 net assets at year end
XI-1 Total revenue$14,522,269
XI-2 Total expenses$14,576,390
XI-3 Revenue less expenses−$54,121
XI-4 Net assets at start of year$710,331
XI-9 Other changes in net assets−$46,755
XI-10 Net assets at end of year$609,455

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

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