The Co-Op School

Tax-deductible

Brooklyn, NY501(c)(3)Since 2014EducationEIN 46-1402442Revenue $6.5M in FY2024

On file with the IRSthecoopschool.org87 Irving Pl, 11238-7656 · Brooklyn, NYTax-exempt since Aug 2014School — 170(b)(1)(A)(ii)

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The mission of the Co-Op School is to inspire passion and teach children to become protagonists in their own educational journey by fostering their innate sense of curiosity and creativity. The Co-Op School facilitates joyful learning through a unique and rigorous constructivist approach that listens to and honors the individual interests and strengths of each child. The Co-Op School does not just belong to the students and educators, but extends to the family community as a whole. IT belongs to those who participate in IT, and is a more resilient and creative place because of IT.

501(c)(3) charity; gifts are tax-deductible.
88¢ of each $1 spent went to programs.
Run by 250 volunteers and 92 employees.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX · People: Part I, lines 5–6

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
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 $292K a year · 5% of revenue · last 5 filings
Concern: a surplus in 2 of the last 5 filings.
Pt I · Ln 19 · 5 filings
Spent on programs
88%
of spending
Looks good: 88% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Pay to officers and key staff
$358K
to officers and key staff · 6% of spending
Top officer’s pay higher than 91% of similar orgs
Looks good: pay to officers and key staff is 6% of spending; 15% or less.
Pt VII · Sec A
Cash reserves
4 mo
of spending, in cash
Looks good: 4.2 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
4
named funders · $19K
Looks good: 4 funders name it on their filings; 3 or more.
Funders’ Sch. I, 990-PF
Liabilities
$15.5M
100% of total assets
Concern: liabilities are 100% of assets; over 80%.
Pt X · Ln 26
Independent board members
15
of 17 voting members
Looks good: 15 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
$6.5M
+15% vs prior year
Spent
$6.5M
To programs
88%
Net assets
$32K
By yearFY2020–FY2024
Revenue
$6.5M
FY2024▲ +15%
Tap a bar for its year
Revenue by fiscal year
FY2020$4.7M
FY2021$5.3M
FY2022$5.9M
FY2023$5.3M
FY2024$5.6M
FY2024$6.5M
Expenses
$6.5M
FY2024▲ +4%
Tap a bar for its year
Expenses by fiscal year
FY2020$5.1M
FY2021$5.3M
FY2022$5.7M
FY2023$6.0M
FY2024$6.3M
FY2024$6.5M
Net assets
$32K
FY2024▲ +108%
Tap a bar for its year
Net assets by fiscal year
FY2020$787K
FY2021$733K
FY2022$978K
FY2023$224K
FY2024−$407K
FY2024$32K

From the FY2024 Form 990 · 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 Aug 2014.

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

Where the money goes

88 cents of each dollar spent went to programs.

Program services 88% · $5.7M Management & general 12% · $776K

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

17 people listed on the 990; $358K paid to officers and key staff.

Part VII, Section A · reportable compensation
Director
$253,159Pt VII · Sec A
Business Dir.
$104,665Pt VII · Sec A
$0Pt VII · Sec A
President
$0Pt VII · Sec A
$0Pt VII · Sec A
Head of School
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A

Chloe Smith’s $253K as Director is at the 91st percentile of top reported officer pay among 3395 $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 · 3 named individuals · Part VII

NameFY2024FY2024FY2023FY2022FY2020
Chloe Smith$253,159$123,697———
Deanna Bocchetti——$198,475$173,368—
Maureen Boucher$104,665$105,976—$90,244$83,918

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 The Co-Op 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

Offers joyful elementary, preschool, summer camp, and toddler programs fostering lifelong learning and creativity.

Provided by the organization

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3 programs · $5.7M · in their own filed words · FY2024
01

Elementary school

$2.8Mprogram expense
02

Preschool and Lower School Programs

The basis for our curriculum:- Children constantly learn as they play.- Children learn to be socially interactive through dramatic play.- Feeling, touching and creating through sensory activities enhance cognitive skills.- Painting, pasting and participation in art activities allows children to express themselves creatively.- Cutting…

$2.8Mprogram expense
03

Other Programs

- playgroup - children ages 6 months to 2 years old attend with a parent or caregiver to play and interact with their peers. This is a time for free play and age-appropriate toys. Musical instruments and art materials are PROVIDED.- camp - six weeks summer camp program is designed for kids ages 2 to 9.

$172Kprogram 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 · FY2023
Total grants receivedfrom 4 funders$19K
See all 4 funders →

By the numbers

The FY2024 990, line by line.

1The main four
Money inPt VIII
$6.5M
Ln 12
Fees for servicesLn 2g$6.4M
Gifts and grantsLn 1h$128K
Investment incomeLn 3$17K
Money outPt IX
$6.5M
Ln 25
Programscol B$5.7M
Managementcol C$776K
Owns and owesPt X
$32K
net assets · Ln 32
Cash and savingsLn 1–2$2.2M
Total assetsLn 16$15.5M
LiabilitiesLn 26$15.5M
PeoplePt VI, VII
17
listed · VII A
PaidVII A2
Voting boardVI 1a17
IndependentVI 1b15
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$128K
Government grantsLn 1e$21K
Fundraising eventsLn 1c$105K
Fees for servicesLn 2g$6.4M
Investment incomeLn 3$17K
Gains on assetsLn 7$0
Total revenueLn 12$6.5M
Assets in detailPt X, end of year
CashLn 1$591K
SavingsLn 2$1.7M
Cash and savings togetherLn 1–2$2.2M
InvestmentsLn 11–13$0
Land, buildings, equipmentLn 10c$355K
Other assetsLn 15$12.7M
Total assetsLn 16$15.5M
LiabilitiesLn 26$15.5M
Net assetsLn 32$32K
OperationsPt I, VI
EmployeesI 592
VolunteersI 6250
Fiscal year endsHeaderDecember
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$2.8M$2.2M
InvestmentsLn 11–13$0
Land, buildings, equipmentLn 10c$550K$355K
Total assetsLn 16$18.7M$15.5M
LiabilitiesLn 26$19.1M$15.5M
Net assetsLn 32−$407K$32K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Grants to domestic organizationsLn 1$0
Grants to domestic individualsLn 2$0
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$358K$308K$50K
Pay of disqualified personsLn 6$0
Other salaries and wagesLn 7$3.7M$3.2M$517K
Pension plan contributionsLn 8$0
Other employee benefitsLn 9$416K$358K$58K
Payroll taxesLn 10$324K$279K$45K
Management feesLn 11a$0
Legal feesLn 11b$17K$10K$7K
Accounting feesLn 11c$22K$13K$9K
Lobbying feesLn 11d$0
Professional fundraising feesLn 11e$0
Investment management feesLn 11f$0
Other fees for servicesLn 11g$41K$24K$16K
Advertising and promotionLn 12$10K$9K$1K
Office expensesLn 13$100K$87K$13K
Information technologyLn 14$0
RoyaltiesLn 15$0
OccupancyLn 16$1.1M$1.1M
TravelLn 17$0
Travel and entertainment for public officialsLn 18$0
Conferences, conventions and meetingsLn 19$0
InterestLn 20$3K$3K$410
Payments to affiliatesLn 21$0
Depreciation, depletion and amortizationLn 22$22K$19K$3K
InsuranceLn 23$37K$32K$5K
Other expenses (24a–d)Ln 24$342K$297K$44K
All other expensesLn 24e$50K$43K$6K
Total functional expensesLn 25$6.5M$5.7M$776K$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 $5.6M$6.3M−$631K−$407K 990 PDF
FY2023 $5.3M$6.0M−$650K$224K 990 PDF
FY2022 $5.9M$5.7M$203K$978K 990 PDF
FY2021 $5.3M$5.3M$28K$733K 990 PDF
FY2020 $4.7M$5.1M−$409K$787K 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 FY2024 990 (6 parts)
Part I · Summary $6,488,961 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $342,412$128,462
I-9 Program service revenuePrior year $5,299,356$6,369,325
I-10 Investment incomePrior year $21,932$16,996
I-11 Other revenuePrior year −$27,446−$25,822
I-12 Total revenuePrior year $5,636,254$6,488,961
I-13 Grants and similar amounts paid$0
I-14 Benefits paid to members$0
I-15 Salaries and benefitsPrior year $4,541,286$4,792,618
I-16a Professional fundraising fees$0
I-17 Other expensesPrior year $1,725,687$1,705,590
I-18 Total expensesPrior year $6,266,973$6,498,208
I-19 Revenue less expensesPrior year −$630,719−$9,247
Part VI · Governance 15 of 17 board members independent, no flags
VI-1a Voting members of the governing body17
VI-1b Independent voting members15
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 $6,488,961 across 11 lines filed
VIII-1c Fundraising events$104,587
VIII-1e Government grants$21,393
VIII-1f All other contributions, gifts and grants$2,482
VIII-1h Total contributions, gifts and grants$128,462
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $6,369,325$6,369,325
VIII-3 Investment incomeRelated to mission $16,996$16,996
VIII-5 Royalties$0
VIII-6 Net rental income or loss$0
VIII-7 Net gain or loss on sales of assets$0
VIII-8 Net income from fundraising events−$25,822
VIII-12 Total revenueRelated to mission $6,386,321$6,488,961
Part IX · Statement of functional expenses $6,498,208 across 31 lines filed
IX-1 Grants to domestic organizations$0
IX-2 Grants to domestic individuals$0
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 $307,729 · Management $50,095$357,824
IX-6 Pay of disqualified persons$0
IX-7 Other salaries and wagesPrograms $3,177,437 · Management $517,257$3,694,694
IX-8 Pension plan contributions$0
IX-9 Other employee benefitsPrograms $357,714 · Management $58,233$415,947
IX-10 Payroll taxesPrograms $278,772 · Management $45,381$324,153
IX-11a Management fees$0
IX-11b Legal feesPrograms $10,259 · Management $6,847$17,106
IX-11c Accounting feesPrograms $13,133 · Management $8,766$21,899
IX-11d Lobbying fees$0
IX-11e Professional fundraising fees$0
IX-11f Investment management fees$0
IX-11g Other fees for servicesPrograms $24,486 · Management $16,344$40,830
IX-12 Advertising and promotionPrograms $8,965 · Management $1,340$10,305
IX-13 Office expensesPrograms $87,163 · Management $13,024$100,187
IX-14 Information technology$0
IX-15 Royalties$0
IX-16 OccupancyPrograms $1,061,256$1,061,256
IX-17 Travel$0
IX-18 Travel and entertainment for public officials$0
IX-19 Conferences, conventions and meetings$0
IX-20 InterestPrograms $2,746 · Management $410$3,156
IX-21 Payments to affiliates$0
IX-22 Depreciation, depletion and amortizationPrograms $19,321 · Management $2,887$22,208
IX-23 InsurancePrograms $32,221 · Management $4,814$37,035
IX-24 Other expenses (24a–d)Programs $297,448 · Management $44,446$341,894
IX-24e All other expensesPrograms $43,305 · Management $6,409$49,714
IX-25 Total functional expensesPrograms $5,721,955 · Management $776,253 · Fundraising $0$6,498,208
Part X · Balance sheet $15,519,682 assets, 22 lines filed
X-1 Cash, non-interest-bearingStart of year $2,774,363$590,981
X-2 Savings and temporary cash investments$1,658,970
X-3 Pledges and grants receivable$0
X-4 Accounts receivableStart of year $1,953,331$203,554
X-8 Inventories for sale or use$0
X-9 Prepaid expenses and deferred chargesStart of year $56,793$52,610
X-10c Land, buildings and equipment, netStart of year $550,450$355,104
X-11 Publicly traded securities$0
X-12 Other securities$0
X-13 Program-related investments$0
X-14 Intangible assetsStart of year $2,279$0
X-15 Other assetsStart of year $13,342,912$12,658,463
X-16 Total assetsStart of year $18,680,128$15,519,682
X-17 Accounts payable and accrued expensesStart of year $286,592$251,819
X-19 Deferred revenueStart of year $4,986,447$2,710,493
X-24 Unsecured notes and loans payableStart of year $81,956$66,093
X-25 Other liabilitiesStart of year $13,732,153$12,459,343
X-26 Total liabilitiesStart of year $19,087,148$15,487,748
X-27 Net assets without donor restrictionsStart of year −$559,330$10,541
X-28 Net assets with donor restrictionsStart of year $152,310$21,393
X-32 Total net assets or fund balancesStart of year −$407,020$31,934
X-33 Total liabilities and net assetsStart of year $18,680,128$15,519,682
Part XI · Reconciliation of net assets $31,934 net assets at year end
XI-1 Total revenue$6,488,961
XI-2 Total expenses$6,498,208
XI-3 Revenue less expenses−$9,247
XI-4 Net assets at start of year−$407,020
XI-9 Other changes in net assets$448,201
XI-10 Net assets at end of year$31,934

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

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