Brooklyn Prospect Charter School FY2021 filing

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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.

Form 990 Part I, line 1, FY2021. The organization’s own words, as filed with the IRS. Find it at the IRS (EIN 26-3206518) · Dispute this line
501(c)(3) charity; gifts are tax-deductible.
85¢ of each $1 spent went to programs.
$574K 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

FY2021 · Form 990Independent: from IRS data, not the org
Download 990
IRS status
501(c)(3)
not on the IRS revocation list
Listed by the IRS and not on the revocation list.
IRS BMF · Auto-Revocation List
Tax-deductible gifts
Yes
Donations are tax-deductible
The IRS lists gifts to it as deductible.
IRS Pub. 78 · IRS BMF
Latest return
FY2025
latest Form 990
The latest return is for FY2025, 1 tax year back.
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
A surplus in 1 of the last 6 filings.
Pt I · Ln 19 · 6 filings
Spent on programs
85%
of spending
85% of spending went to programs.
Pt IX · Ln 25 · col B
Pay to officers and key staff
$574K
to officers and key staff · 1% of spending
Pay to officers and key staff is 1% of spending.
Part VII, Section A
1.8 mo
of spending, in cash
1.8 months of spending in cash.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
2
named funders · $1K
2 funders name it on their filings.
Funders’ Sch. I, 990-PF
Liabilities
$5.1M
34% of total assets
Liabilities are 34% of assets.
Pt X · Ln 26
Independent board members
10
of 10 voting members
10 of 10 voting members are independent.
Pt VI · Ln 1a–1b
Revenue
$42.3M
+23% vs prior year
Spent
$38.7M
To programs
85%
Net assets
$9.7M
By yearFY2020–FY2025
Revenue
$42.3M
FY2021▲ +23%
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
$38.7M
FY2021▲ +8%
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
$9.7M
FY2021▲ +59%
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 FY2021 Form 990 (year ending June 2021) · figures checked against the IRS filing · see the original

You’re viewing the FY2021 filing — not the latest on file. See the latest (FY2025) →

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

85 cents of each dollar spent went to programs.

Program services 85% · $32.7M Management & general 15% · $5.9M Fundraising 0% · $95K

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

15 people listed on the 990; $574K paid to officers and key staff (Part VII, Section A).

Part VII, Section A · reportable compensation · most recent filed roster (FY2020); the FY2021 filing did not itemize Part VII
Principal, High School
$130,397Pt VII · Sec A
Principal, Elementary School
$117,960Pt VII · Sec A
$110,694Pt VII · Sec A
Principal, Middle School
$107,775Pt VII · Sec A
Artist-In-Residence
$106,844Pt VII · Sec A
$0Pt VII · Sec A
$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.

See Brooklyn Prospect Charter School executive salaries →

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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1 program · $32.7M · in their own filed words · FY2020
01

Brooklyn prospect charter school is an educational corporation that operates three 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.

Form 990 Part III, line 4, FY2020. The organization’s own words, as filed with the IRS. Find it at the IRS (EIN 26-3206518) · Dispute this line
$32.7Mprogram 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

Federal money

Single Audit · Federal Audit Clearinghouse · money spent from federal programs
Year ending Jun 2025 · $1.1M federal money spent
Title I Grants to Local Educational AgenciesDepartment of Education · ALN 84.010 · Through New York State Education Department$452K
Charter SchoolsDepartment of Education · ALN 84.282 · Direct$355K
Education Stabilization FundDepartment of Education · ALN 84.425 · Through New York State Education Department$118K
Supporting Effective Instruction State Grants (formerly Improving Teacher Quality State Grants)Department of Education · ALN 84.367 · Through New York State Education Department$92K
Student Support and Academic Enrichment ProgramDepartment of Education · ALN 84.424 · Through New York State Education Department$33K

The auditor reported no findings.

Year ending Jun 2024 · $2.5M federal money spent
Education Stabilization FundDepartment of Education · ALN 84.425 · Through New York State Education Department$947K
Charter SchoolsDepartment of Education · ALN 84.282 · Direct$699K
Title I Grants to Local Educational AgenciesDepartment of Education · ALN 84.010 · Through New York State Education Department$386K
Emergency Connectivity Fund ProgramFederal Communications Commission · ALN 32.009 · Through Universal Service Administrative Company$280K
Special Education Grants to StatesDepartment of Education · ALN 84.027 · Through New York State Education Department$76K

Plus 2 smaller programs.

The auditor reported no findings.

Year ending Jun 2023 · $1.9M federal money spent
Education Stabilization FundDepartment of Education · ALN 84.425 · Through New York State Education Department$1.2M
Title I Grants to Local Educational AgenciesDepartment of Education · ALN 84.010 · Through New York State Education Department$325K
Emergency Connectivity Fund ProgramFederal Communications Commission · ALN 32.009 · Through Universal Service Administrative Company$231K
Disaster Grants - Public Assistance (presidentially Declared Disasters)Department of Homeland Security · ALN 97.036 · Through New York State Homeland$115K
Improving Teacher Quality State GrantsDepartment of Education · ALN 84.367 · Through New York State Education Department$54K

Plus 1 smaller program.

The auditor reported no findings.

Year ending Jun 2022 · $3.6M federal money spent
Education Stabilization FundDepartment of Education · ALN 84.425 · Through New York State Education Department$2.4M
Charter SchoolsDepartment of Education · ALN 84.282 · Through New York State Education Department$823K
Title I Grants to Local Educational AgenciesDepartment of Education · ALN 84.010 · Through New York State Education Department$328K
Improving Teacher Quality State GrantsDepartment of Education · ALN 84.367 · Through New York State Education Department$60K
Student Support and Academic Enrichment ProgramDepartment of Education · ALN 84.424 · Through New York State Education Department$30K

The auditor reported no findings.

By the numbers

The FY2021 990, line by line.

1The main four
Money inPt VIII
$42.3M
Ln 12
Fees for servicesLn 2g$35.7M
Gifts and grantsLn 1h$5.8M
Other incomeLn 4–11$808K
Money outPt IX
$38.7M
Ln 25
Programscol B$32.7M
Managementcol C$5.9M
Fundraisingcol D$95K
Owns and owesPt X
$9.7M
net assets · Ln 32
Cash and savingsLn 1–2$5.9M
Total assetsLn 16$14.7M
LiabilitiesLn 26$5.1M
PeoplePt VI, VII
15
listed · VII A
PaidVII A5
Voting boardVI 1a10
IndependentVI 1b10
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$5.8M
Government grantsLn 1e$5.3M
Fees for servicesLn 2g$35.7M
Investment incomeLn 3$3K
Other incomeLn 4–11$808K
Total revenueLn 12$42.3M
Assets in detailPt X, end of year
CashLn 1$104K
SavingsLn 2$5.8M
Cash and savings togetherLn 1–2$5.9M
Pledges and grants receivableLn 3$1.5M
Accounts receivableLn 4$21K
Prepaid expenses and deferred chargesLn 9$18K
Land, buildings, equipmentLn 10c$4.4M
Other assetsLn 15$2.9M
Total assetsLn 16$14.7M
LiabilitiesLn 26$5.1M
Net assetsLn 32$9.7M
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 FY21End FY21
Cash and savingsLn 1–2$4.5M$5.9M
Land, buildings, equipmentLn 10c$4.5M$4.4M
Total assetsLn 16$11.9M$14.7M
LiabilitiesLn 26$5.8M$5.1M
Net assetsLn 32$6.1M$9.7M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Other salaries and wagesLn 7$18.4M$17.6M$786K$13K
Pension plan contributionsLn 8$228K$218K$10K$167
Other employee benefitsLn 9$2.1M$2.0M$90K$2K
Payroll taxesLn 10$1.6M$1.6M$70K$1K
Management feesLn 11a$4.3M$1.5M$2.8M$43K
Legal feesLn 11b$9K$9K
Accounting feesLn 11c$38K$38K
Other fees for servicesLn 11g$994K$754K$240K$38
Office expensesLn 13$917K$483K$434K$263
Information technologyLn 14$294K$219K$75K$140
OccupancyLn 16$7.9M$7.6M$348K$6K
TravelLn 17$5K$5K$217$4
Conferences, conventions and meetingsLn 19$140K$138K$2K$44
InterestLn 20$31K$31K
Depreciation, depletion and amortizationLn 22$799K$799K
InsuranceLn 23$150K$150K
Other expenses (24a–d)Ln 24$734K$704K$29K
Total functional expensesLn 25$38.7M$32.7M$5.9M$95K

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2025 LatestFiled with the IRS May 16, 2026 $73.4M$76.4M−$3.0M$5.1M 990 PDF
FY2024Filed with the IRS May 15, 2025 $68.2M$68.8M−$611K$8.0M 990 PDF
FY2023Filed with the IRS May 15, 2024 $60.5M$65.1M−$4.6M$9.2M 990 PDF
FY2022Filed with the IRS May 15, 2023 $54.7M$54.8M−$127K$13.8M 990 PDF
FY2021 ViewingFiled with the IRS May 16, 2022 $42.3M$38.7M$3.6M$9.7M 990 PDF
FY2020Filed with the IRS May 17, 2021 $34.5M$35.7M−$1.3M$6.1M 990 PDF

Schedules filed Part IV

A · Public support I · Grants O · Explanations
See the full FY2021 990
Part I · Summary $42,286,541 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $2,030,773$5,822,260
I-9 Program service revenuePrior year $32,143,377$35,653,308
I-10 Investment incomePrior year $1,828$3,071
I-11 Other revenuePrior year $280,479$807,902
I-12 Total revenuePrior year $34,456,457$42,286,541
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 $21,952,303$22,357,586
I-16a Professional fundraising feesPrior year $0$0
I-17 Other expensesPrior year $13,760,134$16,338,312
I-18 Total expensesPrior year $35,712,437$38,695,898
I-19 Revenue less expensesPrior year −$1,255,980$3,590,643
Part VI · Governance 10 of 10 board members independent, 1 to look at
VI-1a Voting members of the governing body10
VI-1b Independent voting members10
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 $42,286,541 across 7 lines filed
Lines not itemized here account for $54,411 of total revenue; see the IRS return.
VIII-1e Government grants$5,277,100
VIII-1f All other contributions, gifts and grants$545,160
VIII-1h Total contributions, gifts and grants$5,822,260
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $35,653,308$35,653,308
VIII-3 Investment incomeExcluded from tax $3,071$3,071
VIII-11a-d Other revenue, itemized rows (sum of 11a–11d as filed)Excluded from tax $753,491$753,491
VIII-12 Total revenueRelated to mission $35,653,308 · Unrelated business $0 · Excluded from tax $810,973$42,286,541
Part IX · Statement of functional expenses $38,695,898 across 17 lines filed
IX-7 Other salaries and wagesPrograms $17,575,048 · Management $786,309 · Fundraising $13,489$18,374,846
IX-8 Pension plan contributionsPrograms $217,939 · Management $9,728 · Fundraising $167$227,834
IX-9 Other employee benefitsPrograms $2,024,220 · Management $90,358 · Fundraising $1,550$2,116,128
IX-10 Payroll taxesPrograms $1,567,602 · Management $69,975 · Fundraising $1,201$1,638,778
IX-11a Management feesPrograms $1,460,368 · Management $2,791,878 · Fundraising $42,952$4,295,198
IX-11b Legal feesManagement $9,131$9,131
IX-11c Accounting feesManagement $37,750$37,750
IX-11g Other fees for servicesPrograms $753,974 · Management $239,992 · Fundraising $38$994,004
IX-13 Office expensesPrograms $482,646 · Management $433,700 · Fundraising $263$916,609
IX-14 Information technologyPrograms $219,148 · Management $74,981 · Fundraising $140$294,269
IX-16 OccupancyPrograms $7,578,259 · Management $348,416 · Fundraising $5,825$7,932,500
IX-17 TravelPrograms $4,832 · Management $217 · Fundraising $4$5,053
IX-19 Conferences, conventions and meetingsPrograms $137,877 · Management $2,474 · Fundraising $44$140,395
IX-20 InterestManagement $30,569$30,569
IX-22 Depreciation, depletion and amortizationManagement $798,985$798,985
IX-23 InsuranceManagement $150,052$150,052
IX-24 Other expenses (24a–d)Programs $704,417 · Fundraising $29,380$733,797
IX-25 Total functional expensesPrograms $32,726,330 · Management $5,874,515 · Fundraising $95,053$38,695,898
Part X · Balance sheet $14,747,543 assets, 16 lines filed
X-1 Cash, non-interest-bearingStart of year $207,869$104,030
X-2 Savings and temporary cash investmentsStart of year $4,279,762$5,771,175
X-3 Pledges and grants receivableStart of year $1,058,353$1,536,564
X-4 Accounts receivableStart of year $0$20,703
X-9 Prepaid expenses and deferred chargesStart of year $142,736$18,218
X-10c Land, buildings and equipment, netStart of year $4,472,430$4,423,172
X-15 Other assetsStart of year $1,700,437$2,873,681
X-16 Total assetsStart of year $11,861,587$14,747,543
X-17 Accounts payable and accrued expensesStart of year $253,925$157,044
X-19 Deferred revenueStart of year $30,291$43,735
X-23 Secured mortgages and notes payableStart of year $0$1,350,000
X-25 Other liabilitiesStart of year $5,480,240$3,508,990
X-26 Total liabilitiesStart of year $5,764,456$5,059,769
X-27 Net assets without donor restrictionsStart of year $6,097,131$9,687,774
X-32 Total net assets or fund balancesStart of year $6,097,131$9,687,774
X-33 Total liabilities and net assetsStart of year $11,861,587$14,747,543
Part XI · Reconciliation of net assets $9,687,774 net assets at year end
XI-1 Total revenue$42,286,541
XI-2 Total expenses$38,695,898
XI-3 Revenue less expenses$3,590,643
XI-4 Net assets at start of year$6,097,131
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$9,687,774

Form 990 e-file (XML) FY2021 from the IRS · Classification, formation year and address from the IRS Business Master File

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