Brooklyn Prospect Charter School

Tax-deductible

Brooklyn, NY501(c)(3)Since 2008EducationEIN 26-3206518Revenue $73.4M in FY2025

On file with the IRSbrooklynprospect.org397 Bridge Street 9th FL, 11201-5247 · Brooklyn, NYTax-exempt since Aug 2009School — 170(b)(1)(A)(ii)

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Serving kindergarten through twelfth grade, Brooklyn Prospect pairs students with excellent teachers in a college preparatory environment using the international baccalaureate program. We prepare students to become global citizens and help them to develop the love of learning that provides the foundation for lifelong personal and academic success.

501(c)(3) charity; gifts are tax-deductible.
84¢ of each $1 spent went to programs.
Run by 50 volunteers and 488 employees.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX · People: Part I, lines 5–6

Before you give

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 $1.0M a year · 2% of revenue · last 6 filings
Concern: a surplus in 1 of the last 6 filings.
Pt I · Ln 19 · 6 filings
Spent on programs
84%
of spending
Looks good: 84% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Pay to officers and key staff
$747K
to officers and key staff · 1.0% of spending
Top officer’s pay lower than 77% of similar orgs
Looks good: pay to officers and key staff is 1% of spending; 15% or less.
Pt VII · Sec A
Cash reserves
2 mo
of spending, in cash
Fine: 1.6 months of spending in cash; 1 to 3.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
2
named funders · $1K
Fine: 2 funders name it on their filings; under 3.
Funders’ Sch. I, 990-PF
Liabilities
$300.0M
98% of total assets
Concern: liabilities are 98% 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
$73.4M
+8% vs prior year
Spent
$76.4M
To programs
84%
Net assets
$5.1M
By yearFY2020–FY2025
Revenue
$73.4M
FY2025▲ +8%
Tap a bar for its year
Revenue by fiscal year
FY2020$34.5M
FY2021$42.3M
FY2022$54.7M
FY2023$60.5M
FY2024$68.2M
FY2025$73.4M
Expenses
$76.4M
FY2025▲ +11%
Tap a bar for its year
Expenses by fiscal year
FY2020$35.7M
FY2021$38.7M
FY2022$54.8M
FY2023$65.1M
FY2024$68.8M
FY2025$76.4M
Net assets
$5.1M
FY2025▼ -37%
Tap a bar for its year
Net assets by fiscal year
FY2020$6.1M
FY2021$9.7M
FY2022$13.8M
FY2023$9.2M
FY2024$8.0M
FY2025$5.1M

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 Aug 2009.

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

Where the money goes

84 cents of each dollar spent went to programs.

Program services 84% · $63.9M Management & general 16% · $12.2M Fundraising 0% · $165K

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; $747K 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
$168,004Pt VII · Sec A
Principal
$156,877Pt VII · Sec A
$144,705Pt VII · Sec A
$141,173Pt VII · Sec A
Principal
$136,409Pt VII · Sec A
$0Pt VII · Sec A
Board Chair
$0Pt VII · Sec A
$0Pt VII · Sec A

Emily Carroll-Chocolaad’s $168K as Principal is at the 23rd 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

NameFY2025FY2024FY2023FY2022FY2021FY2020
Emily Carroll-Chocolaad$168,004$157,286$153,304———
Matthew Ellis$156,877$149,614————
Wendell Cheung$141,173$155,868————
Folake Akinola-Pinard$144,705$153,654$144,615$129,660$117,960—
Kim Raccio———$142,727$130,397$128,512
Ellis Matthew——$141,545———
Jumaane Saunders—————$139,053
Kiersten Gibson-Cooper——$137,906$127,549——

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 15aNo

Programs and updates

Educates students for success as global citizens.

Questions for Brooklyn Prospect Charter School

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Provided by the organization

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1 program · $63.9M · in their own filed words · FY2024
01

Brooklyn prospect charter school is an educational corporation that operates seven charter schools in the borough of brooklyn, new york. At brooklyn prospect, we believe that families shouldn't have to choose between strong academics and a diverse community.

$63.9Mprogram 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$1K

By the numbers

The FY2025 990, line by line.

1The main four
Money inPt VIII
$73.4M
Ln 12
Fees for servicesLn 2g$70.3M
Gifts and grantsLn 1h$2.7M
Investment incomeLn 3$302K
Money outPt IX
$76.4M
Ln 25
Programscol B$63.9M
Managementcol C$12.2M
Fundraisingcol D$165K
Owns and owesPt X
$5.1M
net assets · Ln 32
Cash and savingsLn 1–2$10.0M
Total assetsLn 16$305.1M
LiabilitiesLn 26$300.0M
PeoplePt VI, VII
13
listed · VII A
PaidVII A5
Voting boardVI 1a5
IndependentVI 1b5
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$2.7M
Government grantsLn 1e$2.4M
Fees for servicesLn 2g$70.3M
Investment incomeLn 3$302K
Other incomeLn 4–11$83K
Total revenueLn 12$73.4M
Assets in detailPt X, end of year
CashLn 1$1.9M
SavingsLn 2$8.1M
Cash and savings togetherLn 1–2$10.0M
Land, buildings, equipmentLn 10c$7.5M
Other assetsLn 15$285.9M
Total assetsLn 16$305.1M
LiabilitiesLn 26$300.0M
Net assetsLn 32$5.1M
OperationsPt I, VI
EmployeesI 5488
VolunteersI 650
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$10.1M$10.0M
Land, buildings, equipmentLn 10c$7.5M$7.5M
Total assetsLn 16$266.6M$305.1M
LiabilitiesLn 26$258.5M$300.0M
Net assetsLn 32$8.0M$5.1M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Other salaries and wagesLn 7$31.7M$29.9M$1.8M$32K
Other employee benefitsLn 9$5.6M$5.2M$313K$6K
Payroll taxesLn 10$2.4M$2.3M$136K$2K
Management feesLn 11a$10.5M$4.3M$6.1M$103K
Legal feesLn 11b$147K$147K
Accounting feesLn 11c$83K$83K
Other fees for servicesLn 11g$869K$544K$326K$192
Office expensesLn 13$1.3M$1.2M$136K$563
Information technologyLn 14$677K$663K$13K$236
OccupancyLn 16$19.5M$18.4M$1.1M$20K
Conferences, conventions and meetingsLn 19$96K$96K
Depreciation, depletion and amortizationLn 22$1.6M$1.6M
InsuranceLn 23$420K$420K
Other expenses (24a–d)Ln 24$1.5M$1.4M$111K$150
All other expensesLn 24e$11K$5K$6K
Total functional expensesLn 25$76.4M$63.9M$12.2M$165K

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2025 Latest Viewing $73.4M$76.4M−$3.0M$5.1M 990 PDF
FY2024 $68.2M$68.8M−$611K$8.0M 990 PDF
FY2023 $60.5M$65.1M−$4.6M$9.2M 990 PDF
FY2022 $54.7M$54.8M−$127K$13.8M 990 PDF
FY2021 $42.3M$38.7M$3.6M$9.7M 990 PDF
FY2020 $34.5M$35.7M−$1.3M$6.1M 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 FY2025 990 (6 parts)
Part I · Summary $73,365,452 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $4,828,143$2,718,710
I-9 Program service revenuePrior year $62,967,019$70,261,880
I-10 Investment incomePrior year $243,746$301,574
I-11 Other revenuePrior year $112,045$83,288
I-12 Total revenuePrior year $68,150,953$73,365,452
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 $36,358,115$39,645,805
I-16a Professional fundraising feesPrior year $0$0
I-17 Other expensesPrior year $32,404,045$36,707,023
I-18 Total expensesPrior year $68,762,160$76,352,828
I-19 Revenue less expensesPrior year −$611,207−$2,987,376
Part VI · Governance 5 of 5 board members independent, 1 to look at
VI-1a Voting members of the governing body5
VI-1b Independent voting members5
VI-15a Process for setting top official's payNo
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
Part VIII · Statement of revenue $73,365,452 across 7 lines filed
VIII-1e Government grants$2,363,556
VIII-1f All other contributions, gifts and grants$355,154
VIII-1h Total contributions, gifts and grants$2,718,710
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $70,261,880$70,261,880
VIII-3 Investment incomeExcluded from tax $301,574$301,574
VIII-11a-d Other revenue, itemized rows (sum of 11a–11d as filed)Excluded from tax $83,288$83,288
VIII-12 Total revenueRelated to mission $70,261,880 · Unrelated business $0 · Excluded from tax $384,862$73,365,452
Part IX · Statement of functional expenses $76,352,828 across 15 lines filed
IX-7 Other salaries and wagesPrograms $29,850,694 · Management $1,789,033 · Fundraising $32,213$31,671,940
IX-9 Other employee benefitsPrograms $5,240,585 · Management $313,487 · Fundraising $5,659$5,559,731
IX-10 Payroll taxesPrograms $2,275,557 · Management $136,120 · Fundraising $2,457$2,414,134
IX-11a Management feesPrograms $4,305,257 · Management $6,081,042 · Fundraising $103,069$10,489,368
IX-11b Legal feesManagement $146,693$146,693
IX-11c Accounting feesManagement $82,675$82,675
IX-11g Other fees for servicesPrograms $543,628 · Management $325,664 · Fundraising $192$869,484
IX-13 Office expensesPrograms $1,153,180 · Management $136,279 · Fundraising $563$1,290,022
IX-14 Information technologyPrograms $663,389 · Management $13,272 · Fundraising $236$676,897
IX-16 OccupancyPrograms $18,393,611 · Management $1,116,409 · Fundraising $20,302$19,530,322
IX-19 Conferences, conventions and meetingsPrograms $96,137$96,137
IX-22 Depreciation, depletion and amortizationManagement $1,564,029$1,564,029
IX-23 InsuranceManagement $419,865$419,865
IX-24 Other expenses (24a–d)Programs $1,419,304 · Management $111,169 · Fundraising $150$1,530,623
IX-24e All other expensesPrograms $4,616 · Management $6,292$10,908
IX-25 Total functional expensesPrograms $63,945,958 · Management $12,242,029 · Fundraising $164,841$76,352,828
Part X · Balance sheet $305,068,095 assets, 14 lines filed
X-1 Cash, non-interest-bearingStart of year $2,345,268$1,877,339
X-2 Savings and temporary cash investmentsStart of year $7,792,102$8,149,057
X-3 Pledges and grants receivableStart of year $1,728,709$1,309,159
X-4 Accounts receivableStart of year $100,000$100,000
X-9 Prepaid expenses and deferred chargesStart of year $30,132$171,355
X-10c Land, buildings and equipment, netStart of year $7,517,825$7,522,296
X-15 Other assetsStart of year $247,052,871$285,938,889
X-16 Total assetsStart of year $266,566,907$305,068,095
X-17 Accounts payable and accrued expensesStart of year $672,080$1,096,258
X-25 Other liabilitiesStart of year $256,213,716$297,838,101
X-26 Total liabilitiesStart of year $258,525,796$300,014,360
X-27 Net assets without donor restrictionsStart of year $8,041,111$5,053,735
X-32 Total net assets or fund balancesStart of year $8,041,111$5,053,735
X-33 Total liabilities and net assetsStart of year $266,566,907$305,068,095
Part XI · Reconciliation of net assets $5,053,735 net assets at year end
XI-1 Total revenue$73,365,452
XI-2 Total expenses$76,352,828
XI-3 Revenue less expenses−$2,987,376
XI-4 Net assets at start of year$8,041,111
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$5,053,735

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

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