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Bold Charter School FY2023 filing

Tax-deductible

Bronx, NY501(c)(3)Since 2018Education EIN 83-1419644Revenue $9.7M in FY2023

On file with the IRSboldschools.org1909 Daly Ave, 10460-4340 · Bronx, NYTax-exempt since Jun 2019School — 170(b)(1)(A)(ii)

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With an unwavering commitment to excellence, Bold delivers a world-class public education that equips children from all backgrounds with the academic and character foundation to succeed in college and serve as the next generation of leaders.

501(c)(3) charity; gifts are tax-deductible.
83¢ of each $1 spent went to programs.
$708K paid to officers and key staff.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX · Pay: Part VII

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FY2023 · 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
4 of 6
filings with a surplus
Average surplus $383K a year · 5% of revenue · last 6 filings
Fine: a surplus in 4 of the last 6 filings.
Pt I · Ln 19 · 6 filings
Spent on programs
83%
of spending
Looks good: 83% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Pay to officers and key staff
$708K
to officers and key staff · 7% of spending
Looks good: pay to officers and key staff is 7% of spending; 15% or less.
Pt VII · Sec A
Cash reserves
<1 mo
of spending, in cash
Worth a look: 0.8 months of spending in cash; under 1.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
3
named funders · $568K
Looks good: 3 funders name it on their filings; 3 or more.
Funders’ Sch. I, 990-PF
Liabilities
$13.4M
85% of total assets
Concern: liabilities are 85% of assets; over 80%.
Pt X · Ln 26
Independent board members
7
of 7 voting members
Looks good: 7 of 7 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$9.7M
+40% vs prior year
Spent
$10.1M
To programs
83%
Net assets
$2.3M
By yearFY2020–FY2025
Revenue
$9.7M
FY2023▲ +40%
Tap a bar for its year
Revenue by fiscal year
FY2020$2.9M
FY2021$5.0M
FY2022$7.0M
FY2023$9.7M
FY2024$12.2M
FY2025$13.8M
Expenses
$10.1M
FY2023▲ +67%
Tap a bar for its year
Expenses by fiscal year
FY2020$3.0M
FY2021$3.6M
FY2022$6.0M
FY2023$10.1M
FY2024$11.9M
FY2025$13.6M
Net assets
$2.3M
FY2023▼ -14%
Tap a bar for its year
Net assets by fiscal year
FY2020$434K
FY2021$1.8M
FY2022$2.7M
FY2023$2.3M
FY2024$2.6M
FY2025$2.5M

From the FY2023 Form 990 (year ending June 2023) · figures checked against the IRS filing · see the original

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You’re viewing the FY2023 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 Jun 2019.

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

Where the money goes

83 cents of each dollar spent went to programs.

Program services 83% · $8.4M Management & general 17% · $1.7M

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

12 people listed on the 990; $708K paid to officers and key staff.

Part VII, Section A · reportable compensation · most recent filed roster (FY2022); the FY2023 filing did not itemize Part VII
Andrew Foglia
Executive Director
$179,173Pt VII · Sec A
Kathleen Watkins
Director of People Operations
$143,524Pt VII · Sec A
Carson Rockefeller
Labsite Teacher
$141,187Pt VII · Sec A
Allyson Songe
Data Strategy Manager
$126,945Pt VII · Sec A
Matthew Gould
Chief Financial Officer
$117,079Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
Nancy Miller
Secretary
$0Pt VII · Sec A

Andrew Foglia’s $211K as Executive Director is at the 41st 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
Andrew Foglia$211,117$204,048$179,173$162,810$155,453$142,173
Rebecca Scognamiglio Pasini$193,160—————
Kathleen Watkins$179,655$166,313$143,524———
Matthew Gould$171,670$175,814$117,079———
Carson Rockefeller$147,686$169,962$141,187$118,231——
Caroline Chang—$152,348————
Allyson Songe—$136,304$126,945———
Leanna Dunsmore———$135,951$112,246—

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 15aYes

Programs and updates

Equips children with academic and character foundations for college and life success.

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Provided by the organization

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1 program · $8.4M · in their own filed words · FY2022
01

Educational services for students in grades k-5.

$8.4Mprogram 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
Peter and Carmen Lucia Buck Foundation INCFY2024$350K
50can INCFY2024$213K
Fidelity Investments Charitable Gift FundFY2024$5K
Total grants receivedfrom 3 funders$568K
See all 3 funders →

By the numbers

The FY2023 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$9.7M
Ln 12
Fees for servicesLn 2g$8.7M
Gifts and grantsLn 1h$1.0M
Investment incomeLn 3$17
Money outPt IX
$10.1M
Ln 25
Programscol B$8.4M
Managementcol C$1.7M
Owns and owesPt X
$2.3M
net assets · Ln 32
Cash and savingsLn 1–2$678K
Total assetsLn 16$15.7M
LiabilitiesLn 26$13.4M
PeoplePt VI, VII
12
listed · VII A
PaidVII A5
Voting boardVI 1a7
IndependentVI 1b7
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$1.0M
Government grantsLn 1e$995K
Fees for servicesLn 2g$8.7M
Investment incomeLn 3$17
Total revenueLn 12$9.7M
Assets in detailPt X, end of year
CashLn 1$678K
Cash and savings togetherLn 1–2$678K
Land, buildings, equipmentLn 10c$713K
Other assetsLn 15$13.6M
Total assetsLn 16$15.7M
LiabilitiesLn 26$13.4M
Net assetsLn 32$2.3M
OperationsPt I, VI
EmployeesI 565
VolunteersI 66
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 FY23End FY23
Cash and savingsLn 1–2$1.7M$678K
Land, buildings, equipmentLn 10c$395K$713K
Total assetsLn 16$3.2M$15.7M
LiabilitiesLn 26$554K$13.4M
Net assetsLn 32$2.7M$2.3M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Pay of current officers, directors and key staffLn 5$388K$388K
Other salaries and wagesLn 7$3.8M$3.4M$406K
Pension plan contributionsLn 8$63K$59K$3K
Other employee benefitsLn 9$509K$437K$72K
Payroll taxesLn 10$344K$281K$63K
Accounting feesLn 11c$36K$36K
Other fees for servicesLn 11g$246K$99K$147K
Advertising and promotionLn 12$376K$364K$13K
Office expensesLn 13$128K$105K$23K
Information technologyLn 14$268K$220K$48K
OccupancyLn 16$2.3M$1.9M$416K
Depreciation, depletion and amortizationLn 22$298K$245K$53K
InsuranceLn 23$79K$65K$14K
Other expenses (24a–d)Ln 24$1.2M$1.1M$33K
All other expensesLn 24e$61K$55K$5K
Total functional expensesLn 25$10.1M$8.4M$1.7M$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2025 Latest $13.8M$13.6M$181K$2.5M 990 PDF
FY2024 $12.2M$11.9M$284K$2.6M 990 PDF
FY2023 Viewing $9.7M$10.1M−$386K$2.3M 990 PDF
FY2022 $7.0M$6.0M$928K$2.7M 990 PDF
FY2021 $5.0M$3.6M$1.3M$1.8M 990 PDF
FY2020 $2.9M$3.0M−$36K$434K 990 PDF

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Schedules filed Part IV

III · Programs R · Related orgs G · Fundraising L · Interested persons I · Grants A · Public support J · Pay O · Explanations
See the full FY2023 990 (6 parts)
Part I · Summary $9,702,009 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $1,147,701$1,038,728
I-9 Program service revenuePrior year $5,805,031$8,663,264
I-10 Investment incomePrior year $18$17
I-11 Other revenuePrior year $0$0
I-12 Total revenuePrior year $6,952,750$9,702,009
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 $2,839,170$5,091,459
I-16a Professional fundraising feesPrior year $0$0
I-17 Other expensesPrior year $3,185,469$4,996,685
I-18 Total expensesPrior year $6,024,639$10,088,144
I-19 Revenue less expensesPrior year $928,111−$386,135
Part VI · Governance 7 of 7 board members independent, no flags
VI-1a Voting members of the governing body7
VI-1b Independent voting members7
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 $9,702,009 across 6 lines filed
VIII-1e Government grants$994,663
VIII-1f All other contributions, gifts and grants$44,065
VIII-1h Total contributions, gifts and grants$1,038,728
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $8,663,264$8,663,264
VIII-3 Investment incomeExcluded from tax $17$17
VIII-12 Total revenueRelated to mission $8,663,264 · Unrelated business $0 · Excluded from tax $17$9,702,009
Part IX · Statement of functional expenses $10,088,144 across 15 lines filed
IX-5 Pay of current officers, directors and key staffManagement $387,747$387,747
IX-7 Other salaries and wagesPrograms $3,381,803 · Management $406,438$3,788,241
IX-8 Pension plan contributionsPrograms $59,262 · Management $3,457$62,719
IX-9 Other employee benefitsPrograms $436,898 · Management $71,798$508,696
IX-10 Payroll taxesPrograms $281,046 · Management $63,010$344,056
IX-11c Accounting feesManagement $35,804$35,804
IX-11g Other fees for servicesPrograms $99,403 · Management $146,548$245,951
IX-12 Advertising and promotionPrograms $363,745 · Management $12,527$376,272
IX-13 Office expensesPrograms $105,111 · Management $22,778$127,889
IX-14 Information technologyPrograms $220,194 · Management $47,717$267,911
IX-16 OccupancyPrograms $1,920,980 · Management $416,286$2,337,266
IX-22 Depreciation, depletion and amortizationPrograms $245,219 · Management $53,140$298,359
IX-23 InsurancePrograms $65,050 · Management $14,096$79,146
IX-24 Other expenses (24a–d)Programs $1,134,225 · Management $32,970$1,167,195
IX-24e All other expensesPrograms $55,494 · Management $5,398$60,892
IX-25 Total functional expensesPrograms $8,368,430 · Management $1,719,714 · Fundraising $0$10,088,144
Part X · Balance sheet $15,709,806 assets, 12 lines filed
X-1 Cash, non-interest-bearingStart of year $1,689,843$678,163
X-4 Accounts receivableStart of year $276,903$422,808
X-9 Prepaid expenses and deferred chargesStart of year $343,933$278,305
X-10c Land, buildings and equipment, netStart of year $394,906$713,026
X-15 Other assetsStart of year $535,081$13,617,504
X-16 Total assetsStart of year $3,240,666$15,709,806
X-17 Accounts payable and accrued expensesStart of year $118,905$206,635
X-25 Other liabilitiesStart of year $435,095$13,202,640
X-26 Total liabilitiesStart of year $554,000$13,409,275
X-27 Net assets without donor restrictionsStart of year $2,686,666$2,300,531
X-32 Total net assets or fund balancesStart of year $2,686,666$2,300,531
X-33 Total liabilities and net assetsStart of year $3,240,666$15,709,806
Part XI · Reconciliation of net assets $2,300,531 net assets at year end
XI-1 Total revenue$9,702,009
XI-2 Total expenses$10,088,144
XI-3 Revenue less expenses−$386,135
XI-4 Net assets at start of year$2,686,666
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$2,300,531

Form 990 e-file (XML) FY2023 from the IRS · Classification, formation year and address from the IRS Business Master File

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