The Reece School FY2024 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.
92¢ of each $1 spent went to programs.
$1.0M 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
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
92%
of spending
Looks good: 92% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Pay to officers and key staff
$1.0M
to officers and key staff · 8% of spending
Looks good: pay to officers and key staff is 8% of spending; 15% or less.
Pt VII · Sec A
Cash reserves
<1 mo
of spending, in cash
Concern: 0.2 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
$22.1M
103% of total assets
Concern: liabilities are 103% 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
$11.0M
+16% vs prior year
Spent
$12.5M
To programs
92%
Net assets
−$447K
By yearFY2020–FY2024
Revenue
$11.0M
FY2024▲ +16%
Revenue by fiscal year
FY2020$8.6M
FY2021$9.4M
FY2022$8.1M
FY2023$9.5M
FY2024$11.0M
FY2024$14.5M
Expenses
$12.5M
FY2024▲ +24%
Expenses by fiscal year
FY2020$8.7M
FY2021$8.8M
FY2022$8.7M
FY2023$10.1M
FY2024$12.5M
FY2024$14.6M
Net assets
−$447K
FY2024▼ -141%
Net assets by fiscal year
FY2020−$667K
FY2021−$334K
FY2022−$1.4M
FY2023$1.1M
FY2024−$447K
FY2024$609K

From the FY2024 Form 990 (year ending June 2024) · 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

92 cents of each dollar spent went to programs.

Program services 92% · $11.5M Management & general 9% · $1.2M 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; $1.0M 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
Executive Director
$262,095Pt VII · Sec A
Chief Financial Officer
$189,410Pt VII · Sec A
Social Skills Coordinator
$131,063Pt VII · Sec A
Curriculum Coordinator
$127,937Pt VII · Sec A
Clinical Coordinator
$124,330Pt VII · Sec A
Admissions Coordinator
$105,496Pt VII · Sec A
Curriculum Upper School
$104,403Pt 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 $11.5M of program spending, described in the organization's own filed words · FY2023.
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.

$11.4Mprogram 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.

$50Kprogram 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 FY2024 990, line by line.

1The main four
Money inPt VIII
$11.0M
Ln 12
Fees for servicesLn 2g$12.2M
Gifts and grantsLn 1h$50K
Money outPt IX
$12.5M
Ln 25
Programscol B$11.5M
Managementcol C$1.2M
Fundraisingcol D$6K
Owns and owesPt X
−$447K
net assets · Ln 32
Cash and savingsLn 1–2$166K
Total assetsLn 16$21.4M
LiabilitiesLn 26$22.1M
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$50K
Government grantsLn 1e$50K
Fees for servicesLn 2g$12.2M
Total revenueLn 12$11.0M
Assets in detailPt X, end of year
CashLn 1$166K
Cash and savings togetherLn 1–2$166K
Land, buildings, equipmentLn 10c$501K
Other assetsLn 15$20.0M
Total assetsLn 16$21.4M
LiabilitiesLn 26$22.1M
Net assetsLn 32−$447K
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 FY24End FY24
Cash and savingsLn 1–2$283K$166K
Land, buildings, equipmentLn 10c$304K$501K
Total assetsLn 16$9.1M$22.8M
LiabilitiesLn 26$8.1M$22.1M
Net assetsLn 32$1.1M$710K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Pay of current officers, directors and key staffLn 5$526K$470K$56K$183
Pay of disqualified personsLn 6$78K$78K
Other salaries and wagesLn 7$6.7M$6.0M$729K$2K
Pension plan contributionsLn 8$124K$113K$11K$24
Other employee benefitsLn 9$748K$684K$64K$148
Payroll taxesLn 10$612K$560K$53K$121
Legal feesLn 11b$10K$10K
Accounting feesLn 11c$99K$99K
Other fees for servicesLn 11g$318K$287K$31K
Advertising and promotionLn 12$13K$13K
Office expensesLn 13$387K$372K$15K
Information technologyLn 14$12K$12K
OccupancyLn 16$2.0M$2.0M
TravelLn 17$53K$49K$4K
Conferences, conventions and meetingsLn 19$59K$59K
InterestLn 20$72K$35K$36K$296
Depreciation, depletion and amortizationLn 22$107K$73K$33K$2K
InsuranceLn 23$55K$35K$20K
Other expenses (24a–d)Ln 24$682K$679K$3K$335
Total functional expensesLn 25$12.6M$11.5M$1.2M$6K

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 Viewing $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 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 $12,329,920 across 5 lines filed
VIII-1e Government grants$50,360
VIII-1h Total contributions, gifts and grants$50,360
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $12,206,978$12,206,978
VIII-11a-d Other revenue, itemized rows (sum of 11a–11d as filed)Excluded from tax $72,582$72,582
VIII-12 Total revenueRelated to mission $12,206,978 · Unrelated business $0 · Excluded from tax $72,582$12,329,920
Part IX · Statement of functional expenses $12,639,874 across 19 lines filed
IX-5 Pay of current officers, directors and key staffPrograms $469,779 · Management $55,946 · Fundraising $183$525,908
IX-6 Pay of disqualified personsPrograms $77,823$77,823
IX-7 Other salaries and wagesPrograms $5,972,514 · Management $729,413 · Fundraising $2,408$6,704,335
IX-8 Pension plan contributionsPrograms $112,912 · Management $10,633 · Fundraising $24$123,569
IX-9 Other employee benefitsPrograms $683,766 · Management $64,390 · Fundraising $148$748,304
IX-10 Payroll taxesPrograms $559,627 · Management $52,700 · Fundraising $121$612,448
IX-11b Legal feesManagement $10,474$10,474
IX-11c Accounting feesManagement $98,805$98,805
IX-11g Other fees for servicesPrograms $287,037 · Management $31,150$318,187
IX-12 Advertising and promotionPrograms $12,822$12,822
IX-13 Office expensesPrograms $372,414 · Management $15,007$387,421
IX-14 Information technologyPrograms $12,066$12,066
IX-16 OccupancyPrograms $1,980,945$1,980,945
IX-17 TravelPrograms $48,611 · Management $4,082$52,693
IX-19 Conferences, conventions and meetingsPrograms $58,780$58,780
IX-20 InterestPrograms $35,301 · Management $36,135 · Fundraising $296$71,732
IX-22 Depreciation, depletion and amortizationPrograms $72,537 · Management $32,860 · Fundraising $2,018$107,415
IX-23 InsurancePrograms $34,842 · Management $19,706$54,548
IX-24 Other expenses (24a–d)Programs $678,694 · Management $2,570 · Fundraising $335$681,599
IX-25 Total functional expensesPrograms $11,470,470 · Management $1,163,871 · Fundraising $5,533$12,639,874
Part X · Balance sheet $22,786,616 assets, 14 lines filed
X-1 Cash, non-interest-bearingStart of year $283,272$165,804
X-3 Pledges and grants receivableStart of year $104,935$17,088
X-4 Accounts receivableStart of year $722,830$2,057,076
X-10c Land, buildings and equipment, netStart of year $304,269$500,971
X-15 Other assetsStart of year $7,732,197$20,045,677
X-16 Total assetsStart of year $9,147,503$22,786,616
X-17 Accounts payable and accrued expensesStart of year $683,874$1,441,604
X-19 Deferred revenueStart of year $11,614$0
X-25 Other liabilitiesStart of year $7,130,636$19,114,966
X-26 Total liabilitiesStart of year $8,051,821$22,076,285
X-27 Net assets without donor restrictionsStart of year $1,095,682$710,331
X-28 Net assets with donor restrictionsStart of year $0$0
X-32 Total net assets or fund balancesStart of year $1,095,682$710,331
X-33 Total liabilities and net assetsStart of year $9,147,503$22,786,616
Part XI · Reconciliation of net assets $710,331 net assets at year end
XI-1 Total revenue$12,329,920
XI-2 Total expenses$12,639,874
XI-3 Revenue less expenses−$309,954
XI-4 Net assets at start of year$1,095,682
XI-9 Other changes in net assets−$75,397
XI-10 Net assets at end of year$710,331

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

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