Prospect Schools INC FY2024 filing

Tax-deductible

Brooklyn, NY501(c)(3)Since 2007EducationEIN 33-1174065Revenue $10.7M in FY2024

On file with the IRS397 Bridge Street 9th FL, 11201-5247 · Brooklyn, NYTax-exempt since Nov 2008Publicly supported charity — 170(b)(1)(A)(vi)

Tell your story. Claim this org

To provide comprehensive management services to the brooklyn Prospect charter school and other potential Schools in its network and to raise funds in support of new york charter Schools.

501(c)(3) charity; gifts are tax-deductible.
84¢ of each $1 spent went to programs.
$2.1M 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
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
2 of 6
filings with a surplus
Average surplus $53K a year · under 1% of revenue · last 6 filings
Worth a look: a surplus in 2 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
$2.1M
to officers and key staff · 19% of spending
Fine: pay to officers and key staff is 19% of spending; 15% to 20%.
Pt VII · Sec A
Cash reserves
<1 mo
of spending, in cash
Worth a look: 0.5 months of spending in cash; under 1.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
1
named funder · $3K
Fine: 1 funder names it on their filings; under 3.
Funders’ Sch. I, 990-PF
Liabilities
$3.8M
74% of total assets
Worth a look: liabilities are 74% of assets; over 65%.
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
$10.7M
+18% vs prior year
Spent
$11.2M
To programs
84%
Net assets
$1.3M
By yearFY2020–FY2025
Revenue
$10.7M
FY2024▲ +18%
Tap a bar for its year
Revenue by fiscal year
FY2020$7.0M
FY2021$6.2M
FY2022$6.6M
FY2023$9.0M
FY2024$10.7M
FY2025$12.0M
Expenses
$11.2M
FY2024▲ +21%
Tap a bar for its year
Expenses by fiscal year
FY2020$6.0M
FY2021$6.3M
FY2022$7.3M
FY2023$9.3M
FY2024$11.2M
FY2025$11.1M
Net assets
$1.3M
FY2024▼ -30%
Tap a bar for its year
Net assets by fiscal year
FY2020$3.0M
FY2021$2.9M
FY2022$2.1M
FY2023$1.9M
FY2024$1.3M
FY2025$2.3M

From the FY2024 Form 990 (year ending June 2024) · figures checked against the IRS filing · see the original

990 PDF Claim
You’re viewing the FY2024 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 Nov 2008.

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% · $9.5M Management & general 12% · $1.3M Fundraising 4% · $439K

Form 990 Part IX, line 25, columns B–D. Every line is in By the numbers.

Something off? Claim to fix it

Who runs it and what they're paid

17 people listed on the 990; $2.1M 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
Chief Executive Officer
$314,861Pt VII · Sec A
Chief Financial Officer
$220,052Pt VII · Sec A
Chief Operating Officer
$205,491Pt VII · Sec A
Chief People Officer
$198,533Pt VII · Sec A
Chief of Staff
$193,281Pt VII · Sec A
SR. Dir. of Teaching & Learning
$160,408Pt VII · Sec A
Deputy Chief of Schools
$157,180Pt VII · Sec A
SR. Dir. of of New Schools & Leaders
$146,926Pt VII · Sec A

Tresha Ward’s $330K as Chief Executive Officer is at the 70th 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
Tresha Ward$329,706$314,861$306,783$188,337——
Hillary Prince$242,034$220,052$213,577$182,898$159,433$143,793
Daniel Rubenstein————$213,728$208,488
Jonathan McIntosh—$126,472$210,842$179,857$153,962$141,410
Yehonatan Samuel-Siegel$209,969$205,491$209,816———
Kecia Clark$209,969$129,721————
Lisa Chen—$198,533$201,879———
Paul Astuto$199,616$193,281$184,637———

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 Prospect Schools INC executive salaries →

On this list? Claim this org

Something off? Claim to fix it

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

Manages and raises funds for Brooklyn Prospect Charter School.

Questions for Prospect Schools INC

Tap to ask. Prospect Schools INC sees how many people are interested.

Your first name shows with your question. Prospect Schools INC answers here, for everyone.

Provided by the organization

Know this org? Add your story

1 program · $9.5M · in their own filed words · FY2023
01

Prospect schools, inc. Was formed on june 4, 2007 under the laws of new york. The organization provides comprehensive management services and raises funds to support brooklyn prospect charter school, an educational corporation that operates three charter schools in the borough of brooklyn, ny.

$9.5Mprogram expense

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 · FY2025
Total grants receivedfrom 1 funder$3K
Grants paid · 7 grants · $2.2M · 2019–2024
Unitemized GrantFY2024$10,000

By the numbers

The FY2024 990, line by line.

1The main four
Money inPt VIII
$10.7M
Ln 12
Fees for servicesLn 2g$8.8M
Gifts and grantsLn 1h$1.9M
Other incomeLn 4–11$13K
Money outPt IX
$11.2M
Ln 25
Programscol B$9.5M
Managementcol C$1.3M
Fundraisingcol D$439K
Owns and owesPt X
$1.3M
net assets · Ln 32
Cash and savingsLn 1–2$463K
Total assetsLn 16$5.2M
LiabilitiesLn 26$3.8M
PeoplePt VI, VII
17
listed · VII A
PaidVII A12
Voting boardVI 1a5
IndependentVI 1b5
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$1.9M
Government grantsLn 1e$1.1M
Noncash giftsLn 1g$10K
Fundraising eventsLn 1c$48K
Fees for servicesLn 2g$8.8M
Investment incomeLn 3$197
Other incomeLn 4–11$13K
Total revenueLn 12$10.7M
Assets in detailPt X, end of year
CashLn 1$159K
SavingsLn 2$304K
Cash and savings togetherLn 1–2$463K
Land, buildings, equipmentLn 10c$575K
Other assetsLn 15$4.0M
Total assetsLn 16$5.2M
LiabilitiesLn 26$3.8M
Net assetsLn 32$1.3M
OperationsPt I, VI
EmployeesI 561
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 FY24End FY24
Cash and savingsLn 1–2$1.7M$463K
Land, buildings, equipmentLn 10c$517K$575K
Total assetsLn 16$6.3M$5.2M
LiabilitiesLn 26$4.4M$3.8M
Net assetsLn 32$1.9M$1.3M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Grants to domestic organizationsLn 1$787K$787K
Pay of current officers, directors and key staffLn 5$1.4M$862K$431K$144K
Other salaries and wagesLn 7$4.9M$4.1M$557K$171K
Pension plan contributionsLn 8$145K$125K$15K$4K
Other employee benefitsLn 9$721K$600K$92K$29K
Payroll taxesLn 10$492K$393K$75K$24K
Legal feesLn 11b$160K$152K$8K
Accounting feesLn 11c$27K$27K
Other fees for servicesLn 11g$729K$698K$30K$480
Advertising and promotionLn 12$524K$524K
Office expensesLn 13$143K$117K$10K$17K
Information technologyLn 14$146K$145K$1K$16
OccupancyLn 16$393K$354K$20K$20K
TravelLn 17$36K$30K$5K$1K
InterestLn 20$9K$8K$1K$254
Depreciation, depletion and amortizationLn 22$50K$45K$3K$3K
InsuranceLn 23$8K$8K
Other expenses (24a–d)Ln 24$573K$510K$36K$27K
Total functional expensesLn 25$11.2M$9.5M$1.3M$439K

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2025 Latest $12.0M$11.1M$923K$2.3M 990 PDF
FY2024 Viewing $10.7M$11.2M−$572K$1.3M 990 PDF
FY2023 $9.0M$9.3M−$231K$1.9M 990 PDF
FY2022 $6.6M$7.3M−$758K$2.1M 990 PDF
FY2021 $6.2M$6.3M−$126K$2.9M 990 PDF
FY2020 $7.0M$6.0M$1.1M$3.0M 990 PDF

More to add? Claim this org

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 (6 parts)
Part I · Summary $10,660,191 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $1,127,555$1,853,745
I-9 Program service revenuePrior year $7,909,290$8,793,151
I-10 Investment incomePrior year $245$197
I-11 Other revenuePrior year $6,347$13,098
I-12 Total revenuePrior year $9,043,437$10,660,191
I-13 Grants and similar amounts paidPrior year $183,290$787,293
I-14 Benefits paid to membersPrior year $0$0
I-15 Salaries and benefitsPrior year $6,746,122$7,647,188
I-16a Professional fundraising feesPrior year $0$0
I-17 Other expensesPrior year $2,344,729$2,797,800
I-18 Total expensesPrior year $9,274,141$11,232,281
I-19 Revenue less expensesPrior year −$230,704−$572,090
Part VI · Governance 5 of 5 board members independent, no flags
VI-1a Voting members of the governing body5
VI-1b Independent voting members5
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
VI-15a Process for setting top official's payYes
Part VIII · Statement of revenue $10,660,191 across 10 lines filed
Lines not itemized here account for $4,096 of total revenue; see the IRS return.
VIII-1c Fundraising events$48,000
VIII-1e Government grants$1,143,152
VIII-1f All other contributions, gifts and grants$662,593
VIII-1g Noncash contributions (included above)$10,191
VIII-1h Total contributions, gifts and grants$1,853,745
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $8,793,151$8,793,151
VIII-3 Investment incomeExcluded from tax $197$197
VIII-8 Net income from fundraising eventsExcluded from tax $8,276$8,276
VIII-11a-d Other revenue, itemized rows (sum of 11a–11d as filed)Excluded from tax $726$726
VIII-12 Total revenueRelated to mission $8,797,247 · Unrelated business $0 · Excluded from tax $9,199$10,660,191
Part IX · Statement of functional expenses $11,232,281 across 18 lines filed
IX-1 Grants to domestic organizationsPrograms $787,293$787,293
IX-5 Pay of current officers, directors and key staffPrograms $861,802 · Management $430,901 · Fundraising $143,634$1,436,337
IX-7 Other salaries and wagesPrograms $4,124,804 · Management $556,957 · Fundraising $171,047$4,852,808
IX-8 Pension plan contributionsPrograms $125,405 · Management $14,716 · Fundraising $4,440$144,561
IX-9 Other employee benefitsPrograms $600,440 · Management $92,113 · Fundraising $28,685$721,238
IX-10 Payroll taxesPrograms $393,004 · Management $75,312 · Fundraising $23,928$492,244
IX-11b Legal feesPrograms $151,741 · Management $7,986$159,727
IX-11c Accounting feesManagement $27,000$27,000
IX-11g Other fees for servicesPrograms $698,083 · Management $30,006 · Fundraising $480$728,569
IX-12 Advertising and promotionPrograms $524,128$524,128
IX-13 Office expensesPrograms $116,659 · Management $9,806 · Fundraising $16,603$143,068
IX-14 Information technologyPrograms $144,778 · Management $1,020 · Fundraising $16$145,814
IX-16 OccupancyPrograms $354,108 · Management $19,673 · Fundraising $19,673$393,454
IX-17 TravelPrograms $29,850 · Management $5,259 · Fundraising $1,005$36,114
IX-20 InterestPrograms $7,543 · Management $1,329 · Fundraising $254$9,126
IX-22 Depreciation, depletion and amortizationPrograms $45,189 · Management $2,510 · Fundraising $2,510$50,209
IX-23 InsuranceManagement $7,806$7,806
IX-24 Other expenses (24a–d)Programs $509,716 · Management $36,177 · Fundraising $26,892$572,785
IX-25 Total functional expensesPrograms $9,474,543 · Management $1,318,571 · Fundraising $439,167$11,232,281
Part X · Balance sheet $5,175,027 assets, 14 lines filed
X-1 Cash, non-interest-bearingStart of year $76,151$159,153
X-2 Savings and temporary cash investmentsStart of year $1,603,168$304,183
X-9 Prepaid expenses and deferred chargesStart of year $36,818$100,108
X-10c Land, buildings and equipment, netStart of year $517,481$575,089
X-15 Other assetsStart of year $3,743,591$4,036,494
X-16 Total assetsStart of year $6,258,572$5,175,027
X-17 Accounts payable and accrued expensesStart of year $361,776$369,741
X-24 Unsecured notes and loans payable$200,000
X-25 Other liabilitiesStart of year $3,991,933$3,272,513
X-26 Total liabilitiesStart of year $4,353,709$3,842,254
X-27 Net assets without donor restrictionsStart of year $1,754,863$1,332,773
X-28 Net assets with donor restrictionsStart of year $150,000$0
X-32 Total net assets or fund balancesStart of year $1,904,863$1,332,773
X-33 Total liabilities and net assetsStart of year $6,258,572$5,175,027
Part XI · Reconciliation of net assets $1,332,773 net assets at year end
XI-1 Total revenue$10,660,191
XI-2 Total expenses$11,232,281
XI-3 Revenue less expenses−$572,090
XI-4 Net assets at start of year$1,904,863
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$1,332,773

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

Similar organizations you could support · Compare with another nonprofit

Names, privacy, and removal requests More

The names, titles, and compensation shown on this page are reproduced from IRS Form 990 filings, which are public records.

Philanthropy.org does not alter the content of those filings. All information appears exactly as reported by the filing organization for the tax year shown.

We publish only information contained in the public IRS filing — and less than the filing contains. Our profile pages do not display street addresses, telephone numbers, personal email addresses, or other personal contact information, even where the filing includes them.

Many people share the same name. A name shown on this page reflects only what one organization reported in one IRS filing for one tax year. It should not be interpreted as identifying any other individual with the same or a similar name.

If you are no longer affiliated with the organization, your name will generally stop appearing in future IRS filings once the organization no longer reports you. Pages for tax years in which you were reported remain published because those filings remain part of the public record.

Philanthropy.org does not alter or remove IRS filing records. Removing a page from this website would not remove the underlying IRS filing, which remains publicly available from the IRS and other publishers of the same information.

If you believe the IRS filing itself is inaccurate, corrections must be made by the filing organization or the IRS directly.

Your org? Add context

Made it to the end? Claim this org

All figures are derived from public IRS Form 990 filings and are presented without evaluation of any organization. philanthropy.org does not rate, score, or rank organizations, including the pay comparisons above.