The Reece School FY2023 filing

Tax-deductible

New York, NY501(c)(3)Since 1948EIN 13-1626154

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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.
88¢ of each $1 spent went to programs.
$974K 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

FY2023 · 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
1 of 5
filings with a surplus
Average deficit $445K a year · 5% of revenue · last 5 filings
Concern: a surplus in 1 of the last 5 filings.
Pt I · Ln 19 · 5 filings
Spent on programs
88%
of spending
Looks good: 88% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Pay to officers and key staff
$974K
to officers and key staff · 10% of spending
Looks good: pay to officers and key staff is 10% of spending; 15% or less.
Pt VII · Sec A
Cash reserves
<1 mo
of spending, in cash
Concern: 0.3 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
$7.8M
86% of total assets
Concern: liabilities are 86% of assets; over 80%.
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
$9.5M
+16% vs prior year
Spent
$10.1M
To programs
88%
Net assets
$1.1M
By yearFY2020–FY2024
Revenue
$9.5M
FY2023▲ +16%
Revenue by fiscal year
FY2020$8.6M
FY2021$9.4M
FY2022$8.1M
FY2023$9.5M
FY2024$11.0M
FY2024$14.5M
Expenses
$10.1M
FY2023▲ +16%
Expenses by fiscal year
FY2020$8.7M
FY2021$8.8M
FY2022$8.7M
FY2023$10.1M
FY2024$12.5M
FY2024$14.6M
Net assets
$1.1M
FY2023▲ +176%
Net assets by fiscal year
FY2020−$667K
FY2021−$334K
FY2022−$1.4M
FY2023$1.1M
FY2024−$447K
FY2024$609K

From the FY2023 Form 990 (year ending June 2023) · 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: FY2024. IRS ruling in Dec 1951.

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

Where the money goes

88 cents of each dollar spent went to programs.

Program services 88% · $8.9M Management & general 12% · $1.2M

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

12 people listed on the 990; $974K paid to officers and key staff.

Part VII, Section A · reportable compensation · most recent filed roster (FY2022); the FY2023 filing did not itemize Part VII
Executive Director
$245,505Pt VII · Sec A
Chief Financial Officer
$172,372Pt VII · Sec A
Social Skills Coordinator
$122,925Pt VII · Sec A
Curriculum Coordinator
$121,774Pt VII · Sec A
Clinical Coordinator
$105,876Pt VII · Sec A
Speech Therapist
$104,216Pt VII · Sec A
Admissions Coordinator
$101,271Pt VII · Sec A
Board Member
$0Pt VII · Sec A

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

NameFY2024FY2024FY2023FY2022FY2021FY2020
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.

Provided by the organization

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2 program services account for $8.9M of program spending, described in the organization's own filed words · FY2022.
01

Reece students, though academically capable, may face psychological fragility or other challenges hindering their full access to education in mainstream environments. At reece, children with SPEECH/LANGUAGE impairments or other disabilities receive comprehensive academic, social, and emotional support within a nurturing and structured…

$8.7Mprogram expense
02

Supplemental programs, not covered by the nysed tuition rate but funded through idea grants from federal agencies, encompass saturday programs, family engagement initiatives, social skills training, curriculum development, and sports teams and activity clubs.

$141Kprogram expense

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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 FY2023 990, line by line.

1The main four
Money inPt VIII
$9.5M
Ln 12
Fees for servicesLn 2g$9.6M
Gifts and grantsLn 1h$179K
Money outPt IX
$10.1M
Ln 25
Programscol B$8.9M
Managementcol C$1.2M
Owns and owesPt X
$1.1M
net assets · Ln 32
Cash and savingsLn 1–2$283K
Total assetsLn 16$9.1M
LiabilitiesLn 26$7.8M
PeoplePt VI, VII
12
listed · VII A
PaidVII A7
Voting boardVI 1a5
IndependentVI 1b5
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$179K
Government grantsLn 1e$179K
Fees for servicesLn 2g$9.6M
Total revenueLn 12$9.5M
Assets in detailPt X, end of year
CashLn 1$283K
Cash and savings togetherLn 1–2$283K
Land, buildings, equipmentLn 10c$304K
Other assetsLn 15$7.7M
Total assetsLn 16$9.1M
LiabilitiesLn 26$7.8M
Net assetsLn 32$1.1M
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 FY23End FY23
Cash and savingsLn 1–2$1.4M$283K
Land, buildings, equipmentLn 10c$7.2M$304K
Total assetsLn 16$9.8M$9.1M
LiabilitiesLn 26$11.2M$7.8M
Net assetsLn 32−$1.4M$1.3M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Pay of current officers, directors and key staffLn 5$520K$461K$59K
Pay of disqualified personsLn 6$32K$32K
Other salaries and wagesLn 7$5.7M$5.0M$649K
Pension plan contributionsLn 8$93K$85K$8K
Other employee benefitsLn 9$705K$642K$63K
Payroll taxesLn 10$514K$468K$46K
Legal feesLn 11b$24K$24K
Accounting feesLn 11c$90K$90K
Other fees for servicesLn 11g$370K$352K$18K
Advertising and promotionLn 12$10K$10K
Office expensesLn 13$256K$223K$33K
Information technologyLn 14$8K$8K
OccupancyLn 16$1.0M$1.0M$9K
Conferences, conventions and meetingsLn 19$46K$46K
InterestLn 20$11K$11K
Depreciation, depletion and amortizationLn 22$224K$214K$10K
InsuranceLn 23$131K$21K$110K
Other expenses (24a–d)Ln 24$382K$298K$83K
Total functional expensesLn 25$10.1M$8.9M$1.2M$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 $11.0M$12.5M−$1.5M−$447K 990 PDF
FY2023 Viewing $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 I · Grants R · Related orgs G · Fundraising L · Interested persons A · Public support F · Foreign M · Noncash
See the full FY2023 990 (4 parts)
Part VIII · Statement of revenue $9,808,447 across 4 lines filed
VIII-1e Government grants$179,272
VIII-1h Total contributions, gifts and grants$179,272
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $9,629,175$9,629,175
VIII-12 Total revenueRelated to mission $9,629,175 · Unrelated business $0 · Excluded from tax $0$9,808,447
Part IX · Statement of functional expenses $10,096,244 across 18 lines filed
IX-5 Pay of current officers, directors and key staffPrograms $461,260 · Management $58,710$519,970
IX-6 Pay of disqualified personsPrograms $31,584$31,584
IX-7 Other salaries and wagesPrograms $5,003,659 · Management $649,178$5,652,837
IX-8 Pension plan contributionsPrograms $84,931 · Management $8,283$93,214
IX-9 Other employee benefitsPrograms $642,173 · Management $62,626$704,799
IX-10 Payroll taxesPrograms $468,278 · Management $45,667$513,945
IX-11b Legal feesManagement $24,150$24,150
IX-11c Accounting feesManagement $90,455$90,455
IX-11g Other fees for servicesPrograms $351,609 · Management $18,007$369,616
IX-12 Advertising and promotionPrograms $9,636$9,636
IX-13 Office expensesPrograms $222,727 · Management $33,219$255,946
IX-14 Information technologyPrograms $7,956$7,956
IX-16 OccupancyPrograms $1,019,261 · Management $9,176$1,028,437
IX-19 Conferences, conventions and meetingsPrograms $46,086$46,086
IX-20 InterestManagement $10,556$10,556
IX-22 Depreciation, depletion and amortizationPrograms $214,341 · Management $10,147$224,488
IX-23 InsurancePrograms $20,816 · Management $110,138$130,954
IX-24 Other expenses (24a–d)Programs $298,394 · Management $83,221$381,615
IX-25 Total functional expensesPrograms $8,882,711 · Management $1,213,533 · Fundraising $0$10,096,244
Part X · Balance sheet $9,120,666 assets, 15 lines filed
X-1 Cash, non-interest-bearingStart of year $1,383,084$283,272
X-3 Pledges and grants receivableStart of year $69,669$104,935
X-4 Accounts receivableStart of year $849,380$722,830
X-9 Prepaid expenses and deferred chargesStart of year $11,350$0
X-10c Land, buildings and equipment, netStart of year $7,180,370$304,269
X-15 Other assetsStart of year $295,852$7,705,360
X-16 Total assetsStart of year $9,789,705$9,120,666
X-17 Accounts payable and accrued expensesStart of year $603,652$811,677
X-19 Deferred revenueStart of year $11,614$11,614
X-25 Other liabilitiesStart of year $119,273$6,784,934
X-26 Total liabilitiesStart of year $11,228,655$7,833,922
X-27 Net assets without donor restrictionsStart of year −$1,438,950$1,286,744
X-28 Net assets with donor restrictionsStart of year $0$0
X-32 Total net assets or fund balancesStart of year −$1,438,950$1,286,744
X-33 Total liabilities and net assetsStart of year $9,789,705$9,120,666
Part XI · Reconciliation of net assets $1,286,744 net assets at year end
XI-1 Total revenue$9,808,447
XI-2 Total expenses$10,096,244
XI-3 Revenue less expenses−$287,797
XI-4 Net assets at start of year−$1,438,950
XI-9 Other changes in net assets$3,013,491
XI-10 Net assets at end of year$1,286,744

Form 990 e-file (XML) FY2023 from the IRS · Classification, formation year and address from the IRS Business Master File

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