Is it real?
Yes. Never revoked by the IRS. Latest filing on record: FY2025. IRS ruling in Jul 1968.
IRS Pub. 78 · IRS Auto-Revocation List · IRS Business Master File
Where the money goes
80 cents of each dollar spent went to programs.
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
81 people listed on the 990; $1.7M paid to officers and key staff.
Ruth Jurgensen’s $405K as CEO Through 11/15/24 is at the 81st 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 · 8 named individuals · Part VII
| Name | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 |
|---|---|---|---|---|---|
| Ruth Jurgensen | $404,769 | $409,429 | $390,125 | $372,090 | $199,891 |
| Jackson Collins | $283,826 | $266,642 | $264,686 | $245,734 | $215,198 |
| Kerry Greene | — | — | — | $206,895 | $276,109 |
| Sharon Madison | $245,150 | $234,206 | $220,272 | $206,622 | $203,789 |
| Rebecca Ervey | $229,867 | $218,075 | $211,174 | — | — |
| Nikole Smith | $208,937 | $191,996 | $184,021 | $172,204 | $170,216 |
| Johanna Rodriguez | $192,391 | $184,937 | $172,135 | $166,892 | $165,124 |
| Cindy Perez | $185,082 | $166,670 | $144,661 | $131,003 | $107,622 |
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
Develops diverse, ethical leaders by providing leadership training, academic prep, college guidance, and career opportunities to high-achieving students from underrepresented backgrounds.
Questions for Prep for Prep
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Preparatory Programs
Prep redefines opportunity for top students of color in nyc public schools through exceptional academic and social preparedness programming -a rigorous 14-MONTH course of study-that results in placing approximately 200 students annually in leading nyc independent schools (in 7TH-GRADE) and northeastern boarding schools (in 9TH-GRADE).
Counseling
Prep provides individual counseling for approximately 700 students annually throughout their time (ranging from 4-6 years) in independent day and boarding schools. Our counseling team monitors students' academic and social-emotional progress and provides assistance, including tutoring and emergency fund support, to students and their…
Leadership Development
Prep offers leadership development and professional advancement opportunities during high school and college to roughly 1,300 students annually. Activities include: sleep-away camp; a prep-sotheby's partnership for our summer arts academy; a prep-google partnership for our institute for entrepreneurship (ife); college guidance (including…
Funders
Who pays for it.
From grant filings on record. Receipts are incomplete: individual donors are never listed.
Grants
By the numbers
The FY2021 990, line by line.
Download 990
| Line | Start FY21 | End FY21 |
|---|---|---|
| Cash and savingsLn 1–2 | $4.5M | $3.4M |
| InvestmentsLn 11–13 | $41.1M | $54.0M |
| Land, buildings, equipmentLn 10c | $2.1M | $2.0M |
| Total assetsLn 16 | $56.6M | $67.7M |
| LiabilitiesLn 26 | $1.6M | $1.4M |
| Net assetsLn 32 | $55.0M | $66.3M |
| Line | Total | Programs | Management | Fundraising |
|---|---|---|---|---|
| Pay of current officers, directors and key staffLn 5 | $2.1M | $1.7M | $323K | $110K |
| Other salaries and wagesLn 7 | $4.8M | $4.2M | $437K | $191K |
| Pension plan contributionsLn 8 | $173K | $149K | $18K | $7K |
| Other employee benefitsLn 9 | $633K | $543K | $56K | $34K |
| Payroll taxesLn 10 | $499K | $428K | $51K | $20K |
| Accounting feesLn 11c | $392K | $28K | $362K | $2K |
| Investment management feesLn 11f | $30K | $30K | ||
| Other fees for servicesLn 11g | $294K | $237K | $35K | $23K |
| Advertising and promotionLn 12 | $18K | $7K | $10K | $368 |
| Office expensesLn 13 | $207K | $135K | $45K | $26K |
| Information technologyLn 14 | $267K | $157K | $84K | $27K |
| OccupancyLn 16 | $192K | $126K | $47K | $19K |
| TravelLn 17 | $47K | $29K | $16K | $2K |
| Depreciation, depletion and amortizationLn 22 | $146K | $118K | $22K | $7K |
| InsuranceLn 23 | $109K | $75K | $23K | $10K |
| Other expenses (24a–d)Ln 24 | $510K | $510K | $50 | |
| All other expensesLn 24e | $433K | $258K | $91K | $84K |
| Total functional expensesLn 25 | $10.9M | $8.7M | $1.7M | $561K |
Filing history
| Year | Money in | Money out | In minus out | Net assets | Download |
|---|---|---|---|---|---|
| FY2025 Latest | $11.2M | $15.5M | −$4.3M | $61.8M | 990 PDF |
| FY2024 | $14.4M | $15.5M | −$1.1M | $62.0M | 990 PDF |
| FY2023 | $16.5M | $14.9M | $1.6M | $61.8M | 990 PDF |
| FY2022 | $10.7M | $12.2M | −$1.5M | $56.1M | 990 PDF |
| FY2021 Viewing | $11.5M | $10.9M | $593K | $66.3M | 990 PDF |
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Schedules filed Part IV
See the full FY2021 990 (6 parts)
Part I · Summary $11,458,262 revenue, 12 lines filed
Part VI · Governance 69 of 69 board members independent, 1 to look at
Part VIII · Statement of revenue $11,458,262 across 9 lines filed
Part IX · Statement of functional expenses $10,865,077 across 17 lines filed
Part X · Balance sheet $67,702,952 assets, 16 lines filed
Part XI · Reconciliation of net assets $66,304,500 net assets at year end
Form 990 e-file (XML) FY2021 from the IRS · Classification, formation year and address from the IRS Business Master File
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