Corlears School FY2022 filing

Tax-deductible

New York, NY501(c)(3)Since 1970EducationEIN 13-5653140

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Corlears students learn, play, and grow together in a School designed for who they are at ages 2 through 10. During these crucial formative years, we build a foundation of compassion, critical thinking, imagination and leadership, and cultivate a joy and confidence in learning that serves our graduates throughout their lives.

501(c)(3) charity; gifts are tax-deductible.
72¢ of each $1 spent went to programs.
$837K 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

FY2022 · 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
2 of 5
filings with a surplus
Average deficit $1.3M a year · 17% of revenue · last 5 filings
Concern: a surplus in 2 of the last 5 filings.
Pt I · Ln 19 · 5 filings
Spent on programs
72%
of spending
Fine: 72% of spending went to programs; 65% to 75%.
Pt IX · Ln 25 · col B
Pay to officers and key staff
$837K
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: 0.4 months of spending in cash; under 2 weeks.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
7
named funders · $1.1M
Looks good: 7 funders name it on their filings; 3 or more.
Funders’ Sch. I, 990-PF
Liabilities
$9.3M
88% of total assets
Concern: liabilities are 88% of assets; over 80%.
Pt X · Ln 26
Independent board members
17
of 17 voting members
Looks good: 17 of 17 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$6.2M
-27% vs prior year
Spent
$8.6M
To programs
72%
Net assets
$1.3M
By yearFY2020–FY2024
Revenue
$6.2M
FY2022▼ -27%
Revenue by fiscal year
FY2020$7.9M
FY2021$8.5M
FY2022$6.2M
FY2023$7.1M
FY2024$7.1M
FY2024$6.2M
Expenses
$8.6M
FY2022▲ +5%
Expenses by fiscal year
FY2020$7.9M
FY2021$8.2M
FY2022$8.6M
FY2023$8.5M
FY2024$9.8M
FY2024$8.9M
Net assets
$1.3M
FY2022▼ -65%
Net assets by fiscal year
FY2020$3.6M
FY2021$3.8M
FY2022$1.3M
FY2023−$22K
FY2024−$1.6M
FY2024−$4.0M

From the FY2022 Form 990 (year ending June 2022) · 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 Feb 1958.

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

Where the money goes

72 cents of each dollar spent went to programs.

Program services 72% · $6.2M Management & general 26% · $2.2M Fundraising 3% · $235K

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

22 people listed on the 990; $837K paid to officers and key staff.

Part VII, Section A · reportable compensation · most recent filed roster (FY2021); the FY2022 filing did not itemize Part VII
Head of School
$276,132Pt VII · Sec A
Director, Business & Finance
$196,387Pt VII · Sec A
Director of Equity/Inclusion
$125,845Pt VII · Sec A
Dean, Faculty/Dir., Curriculum
$125,669Pt VII · Sec A
Director of Development
$112,650Pt VII · Sec A
Trustee
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A

David Egolf’s $326K as Head of School is at the 97th percentile of top reported officer pay among 3394 $1–10M 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

NameFY2024FY2024FY2023FY2022FY2021FY2020
David Egolf$326,366$304,009—$276,132$265,795$256,345
David Egolf——$288,415———
Robert Fantauzzi—$214,394—$196,387$186,724$175,732
Robert Fantauzzi——$203,982———
Amanda Steiner$143,196$137,311————
Mansi Vasa—$143,083—$125,845$119,869—
Thea Kabacinski————$141,150—
Mansi Vasa——$137,587———

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.

See Corlears School executive salaries →

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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

Educates young children, ages 2-10, in a private school setting.

Provided by the organization

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1 program service account for $6.2M of program spending, described in the organization's own filed words · FY2021.
01

Corlears school is an independent school for students aged 2-10. It provides nursery through fifth grade educational services. Corlears served 91 students during the 21-22 school year with a mission as corlears students learn, play and grow together in a school designed for who they are.

$6.2Mprogram 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 · received and paid
Grants received · FY2024
See all 7 funders →
Grants paid · 6 grants · $11.0M · 2019–2024
Unitemized GrantFY2024$2,394,093
Unitemized GrantFY2023$2,350,702
Unitemized GrantFY2022$1,559,269
Unitemized GrantFY2021$1,663,726
Unitemized GrantFY2020$1,484,328
Unitemized GrantFY2019$1,588,596

By the numbers

The FY2022 990, line by line.

1The main four
Money inPt VIII
$6.2M
Ln 12
Fees for servicesLn 2g$4.9M
Gifts and grantsLn 1h$1.2M
Investment incomeLn 3$528
Money outPt IX
$8.6M
Ln 25
Programscol B$6.2M
Managementcol C$2.2M
Fundraisingcol D$235K
Owns and owesPt X
$1.3M
net assets · Ln 32
Cash and savingsLn 1–2$288K
Total assetsLn 16$10.6M
LiabilitiesLn 26$9.3M
PeoplePt VI, VII
22
listed · VII A
PaidVII A5
Voting boardVI 1a17
IndependentVI 1b17
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$1.2M
Noncash giftsLn 1g$41K
Fundraising eventsLn 1c$155K
Fees for servicesLn 2g$4.9M
Investment incomeLn 3$528
Gains on assetsLn 7$0
Total revenueLn 12$6.2M
Assets in detailPt X, end of year
CashLn 1$163K
SavingsLn 2$125K
Cash and savings togetherLn 1–2$288K
InvestmentsLn 11–13$0
Land, buildings, equipmentLn 10c$10.2M
Other assetsLn 15$0
Total assetsLn 16$10.6M
LiabilitiesLn 26$9.3M
Net assetsLn 32$1.3M
OperationsPt I, VI
EmployeesI 584
VolunteersI 625
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 FY22End FY22
Cash and savingsLn 1–2$1.3M$288K
InvestmentsLn 11–13$0$0
Land, buildings, equipmentLn 10c$10.4M$10.2M
Total assetsLn 16$11.9M$10.6M
LiabilitiesLn 26$8.2M$9.3M
Net assetsLn 32$3.8M$1.3M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Grants to domestic organizationsLn 1$0
Grants to domestic individualsLn 2$1.7M$1.7M
Grants and assistance to foreign recipientsLn 3$0
Benefits paid to or for membersLn 4$0
Pay of current officers, directors and key staffLn 5$529K$314K$193K$22K
Pay of disqualified personsLn 6$0
Other salaries and wagesLn 7$3.4M$2.0M$1.3M$142K
Pension plan contributionsLn 8$141K$83K$51K$6K
Other employee benefitsLn 9$541K$321K$197K$22K
Payroll taxesLn 10$281K$167K$102K$12K
Management feesLn 11a$10K$10K
Legal feesLn 11b$51K$51K
Accounting feesLn 11c$37K$37K
Lobbying feesLn 11d$0
Professional fundraising feesLn 11e$0
Investment management feesLn 11f$0
Other fees for servicesLn 11g$170K$65K$105K
Advertising and promotionLn 12$0
Office expensesLn 13$589K$519K$70K
Information technologyLn 14$0
RoyaltiesLn 15$0
OccupancyLn 16$430K$390K$40K
TravelLn 17$97K$97K
Travel and entertainment for public officialsLn 18$0
Conferences, conventions and meetingsLn 19$0
InterestLn 20$3K$3K$344
Payments to affiliatesLn 21$0
Depreciation, depletion and amortizationLn 22$347K$312K$26K$9K
InsuranceLn 23$79K$58K$21K
Other expenses (24a–d)Ln 24$226K$137K$65K$24K
Total functional expensesLn 25$8.6M$6.2M$2.2M$235K

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 $7.1M$9.8M−$2.7M−$1.6M 990 PDF
FY2023 $7.1M$8.5M−$1.3M−$22K 990 PDF
FY2022 Viewing $6.2M$8.6M−$2.5M$1.3M 990 PDF
FY2021 $8.5M$8.2M$221K$3.8M 990 PDF
FY2020 $7.9M$7.9M$4K$3.6M 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 FY2022 990 (4 parts)
Part VIII · Statement of revenue $6,153,241 across 12 lines filed
VIII-1c Fundraising events$154,939
VIII-1f All other contributions, gifts and grants$1,085,292
VIII-1g Noncash contributions (included above)$41,031
VIII-1h Total contributions, gifts and grants$1,240,231
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $4,948,120$4,948,120
VIII-3 Investment incomeExcluded from tax $528$528
VIII-5 Royalties$0
VIII-6 Net rental income or lossExcluded from tax $185$185
VIII-7 Net gain or loss on sales of assets$0
VIII-8 Net income from fundraising eventsExcluded from tax −$45,742−$45,742
VIII-11a-d Other revenue, itemized rows (sum of 11a–11d as filed)Excluded from tax $9,919$9,919
VIII-12 Total revenueRelated to mission $4,948,120 · Excluded from tax −$35,110$6,153,241
Part IX · Statement of functional expenses $8,626,853 across 30 lines filed
IX-1 Grants to domestic organizations$0
IX-2 Grants to domestic individualsPrograms $1,663,726$1,663,726
IX-3 Grants and assistance to foreign recipients$0
IX-4 Benefits paid to or for members$0
IX-5 Pay of current officers, directors and key staffPrograms $313,976 · Management $192,956 · Fundraising $21,828$528,760
IX-6 Pay of disqualified persons$0
IX-7 Other salaries and wagesPrograms $2,038,394 · Management $1,252,710 · Fundraising $141,712$3,432,816
IX-8 Pension plan contributionsPrograms $83,476 · Management $51,301 · Fundraising $5,803$140,580
IX-9 Other employee benefitsPrograms $321,212 · Management $197,403 · Fundraising $22,331$540,946
IX-10 Payroll taxesPrograms $166,563 · Management $102,363 · Fundraising $11,580$280,506
IX-11a Management feesManagement $10,000$10,000
IX-11b Legal feesManagement $51,463$51,463
IX-11c Accounting feesManagement $36,577$36,577
IX-11d Lobbying fees$0
IX-11e Professional fundraising fees$0
IX-11f Investment management fees$0
IX-11g Other fees for servicesPrograms $65,075 · Management $104,539$169,614
IX-12 Advertising and promotion$0
IX-13 Office expensesPrograms $519,286 · Management $70,148$589,434
IX-14 Information technology$0
IX-15 Royalties$0
IX-16 OccupancyPrograms $390,057 · Management $39,659$429,716
IX-17 TravelPrograms $97,099$97,099
IX-18 Travel and entertainment for public officials$0
IX-19 Conferences, conventions and meetings$0
IX-20 InterestPrograms $3,092 · Management $344$3,436
IX-21 Payments to affiliates$0
IX-22 Depreciation, depletion and amortizationPrograms $312,142 · Management $26,012 · Fundraising $8,670$346,824
IX-23 InsurancePrograms $58,104 · Management $21,108$79,212
IX-24 Other expenses (24a–d)Programs $137,444 · Management $65,191 · Fundraising $23,509$226,144
IX-25 Total functional expensesPrograms $6,169,646 · Management $2,221,774 · Fundraising $235,433$8,626,853
Part X · Balance sheet $10,609,955 assets, 24 lines filed
X-1 Cash, non-interest-bearingStart of year $724,637$162,683
X-2 Savings and temporary cash investmentsStart of year $533,672$125,473
X-3 Pledges and grants receivableStart of year $220,030$88,912
X-4 Accounts receivableStart of year $78,795$42,682
X-8 Inventories for sale or useStart of year $0$0
X-9 Prepaid expenses and deferred chargesStart of year $25,781$24,531
X-10c Land, buildings and equipment, netStart of year $10,364,555$10,165,674
X-11 Publicly traded securitiesStart of year $0$0
X-12 Other securitiesStart of year $0$0
X-13 Program-related investmentsStart of year $0$0
X-14 Intangible assetsStart of year $0$0
X-15 Other assetsStart of year $0$0
X-16 Total assetsStart of year $11,947,470$10,609,955
X-17 Accounts payable and accrued expensesStart of year $420,997$383,640
X-18 Grants payableStart of year $0$0
X-19 Deferred revenueStart of year $995,382$1,633,501
X-20 Tax-exempt bond liabilitiesStart of year $6,638,842$6,444,177
X-24 Unsecured notes and loans payableStart of year $0$730,000
X-25 Other liabilitiesStart of year $110,750$110,750
X-26 Total liabilitiesStart of year $8,165,971$9,302,068
X-27 Net assets without donor restrictionsStart of year $3,152,113$1,096,132
X-28 Net assets with donor restrictionsStart of year $629,386$211,755
X-32 Total net assets or fund balancesStart of year $3,781,499$1,307,887
X-33 Total liabilities and net assetsStart of year $11,947,470$10,609,955
Part XI · Reconciliation of net assets $1,307,887 net assets at year end
XI-1 Total revenue$6,153,241
XI-2 Total expenses$8,626,853
XI-3 Revenue less expenses−$2,473,612
XI-4 Net assets at start of year$3,781,499
XI-10 Net assets at end of year$1,307,887

Form 990 e-file (XML) FY2022 from the IRS · Classification, formation year and address from the IRS Business Master File

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