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Bright Minds Academy INC FY2020 filing

IRS exemption revoked

Staten Island, NYUnknown exempt organization EIN 83-2636413Revenue $711K in FY2020

On file with the IRSbma.school75 Skyline Dr · Staten Island, NY

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Provide inclusive and adaptable learning

94¢ of each $1 spent went to programs.
Mission: Form 990 Part I, line 1 · Programs: Part IX

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FY2020 · Form 990Independent: from IRS data, not the org
Download 990
IRS status
Revoked
IRS exemption revoked
Concern: the IRS revoked its tax exemption.
IRS Auto-Revocation List
Latest return
FY2021
latest Form 990
Concern: the latest return is for FY2021, 5 tax years back; more than 4 tax years.
IRS e-file · Filing history
Surplus or deficit
1 of 2
filings with a surplus
Average surplus $25K a year · 2% of revenue · last 2 filings
Worth a look: a surplus in 1 of the last 2 filings.
Pt I · Ln 19 · 2 filings
Spent on programs
94%
of spending
Looks good: 94% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Cash reserves
1 mo
of spending, in cash
Fine: 1.1 months of spending in cash; 1 to 3.
Pt X · Ln 1–2 · Pt I · Ln 18
Liabilities
$198K
212% of total assets
Concern: liabilities are 212% of assets; over 80%.
Pt X · Ln 26
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$711K
Spent
$715K
To programs
94%
Net assets
−$105K
By yearFY2020–FY2021
Revenue
$711K
FY2020
Tap a bar for its year
Revenue by fiscal year
FY2020$711K
FY2021$1.3M
Expenses
$715K
FY2020
Tap a bar for its year
Expenses by fiscal year
FY2020$715K
FY2021$1.2M
Net assets
−$105K
FY2020
Tap a bar for its year
Net assets by fiscal year
FY2020−$105K
FY2021−$52K

From the FY2020 Form 990 · figures checked against the IRS filing · see the original

990 PDF Claim
IRS revoked this organization's tax-exempt status on May 15, 2025
You’re viewing the FY2020 filing — not the latest on file. See the latest (FY2021) →

Is it real?

No. The IRS revoked its tax exemption. Latest filing on record: FY2021.

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

Where the money goes

94 cents of each dollar spent went to programs.

Program services 94% · $675K Management & general 6% · $40K

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

4 people listed on the 990.

Part VII, Section A · reportable compensation
Sasha Pierre
Secretary
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
See Bright Minds Academy INC 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 15aNo
  • Loans to or from officersSch L · Pt II1 listed

Programs and updates

Offer adaptable learning experiences for everyone.

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Provided by the organization

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1 program · $675K · in their own filed words · FY2020
01

provide inclusive and adaptable learning experiences, facilitate growth that enables students to move through the different stages of learning.

$675Kprogram expense

By the numbers

The FY2020 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$711K
Ln 12
Fees for servicesLn 2g$711K
Money outPt IX
$715K
Ln 25
Programscol B$675K
Managementcol C$40K
Owns and owesPt X
−$105K
net assets · Ln 32
Cash and savingsLn 1–2$68K
Total assetsLn 16$94K
LiabilitiesLn 26$198K
PeoplePt VI, VII
4
listed · VII A
PaidVII A0
Voting boardVI 1a0
IndependentVI 1b0
2In more detail
Revenue in detailPt VIII
Fees for servicesLn 2g$711K
Total revenueLn 12$711K
Assets in detailPt X, end of year
CashLn 1$68K
Cash and savings togetherLn 1–2$68K
Other assetsLn 15$26K
Total assetsLn 16$94K
LiabilitiesLn 26$198K
Net assetsLn 32−$105K
OperationsPt I, VI
EmployeesI 515
Fiscal year endsHeaderDecember
Conflict-of-interest policyVI 12aNo
Whistleblower policyVI 13Yes
Records policyVI 14Yes
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY20End FY20
Cash and savingsLn 1–2$575$68K
Total assetsLn 16$575$94K
LiabilitiesLn 26$102K$198K
Net assetsLn 32−$101K−$105K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Other salaries and wagesLn 7$88K$88K
Payroll taxesLn 10$43K$43K
Accounting feesLn 11c$5K$5K
Other fees for servicesLn 11g$165K$162K$3K
Advertising and promotionLn 12$5K$5K
Office expensesLn 13$57K$32K$25K
OccupancyLn 16$280K$280K
TravelLn 17$3K$3K
InterestLn 20$14K$14K
InsuranceLn 23$8K$8K
Other expenses (24a–d)Ln 24$24K$22K$2K
All other expensesLn 24e$22K$22K
Total functional expensesLn 25$715K$675K$40K$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2021 Latest $1.3M$1.2M$53K−$52K 990 PDF
FY2020 Viewing $711K$715K−$4K−$105K 990 PDF

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Schedules filed Part IV

III · Programs R · Related orgs G · Fundraising L · Interested persons I · Grants O · Explanations
See the full FY2020 990 (6 parts)
Part I · Summary $711,297 revenue, 12 lines filed
I-8 Contributions and grants$0
I-9 Program service revenuePrior year $711,297$711,297
I-10 Investment income$0
I-11 Other revenue$0
I-12 Total revenuePrior year $711,297$711,297
I-13 Grants and similar amounts paid$0
I-14 Benefits paid to members$0
I-15 Salaries and benefits$131,118
I-16a Professional fundraising fees$0
I-17 Other expenses$583,929
I-18 Total expenses$715,047
I-19 Revenue less expensesPrior year $711,297−$3,750
Part VI · Governance 2 to look at
VI-1a Voting members of the governing body0
VI-1b Independent voting members0
VI-12a Written conflict of interest policyNo
VI-15a Process for setting top official's payNo
VI-2 Family or business relationship among officers or directorsNo
VI-13 Written whistleblower policyYes
VI-14 Document retention and destruction policyYes
Part VIII · Statement of revenue $711,297 across 2 lines filed
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Excluded from tax $711,297$711,297
VIII-12 Total revenueRelated to mission $0 · Unrelated business $0 · Excluded from tax $711,297$711,297
Part IX · Statement of functional expenses $715,047 across 12 lines filed
IX-7 Other salaries and wagesPrograms $88,093$88,093
IX-10 Payroll taxesPrograms $43,025$43,025
IX-11c Accounting feesManagement $5,130$5,130
IX-11g Other fees for servicesPrograms $162,205 · Management $3,002$165,207
IX-12 Advertising and promotionManagement $4,636$4,636
IX-13 Office expensesPrograms $32,379 · Management $24,836$57,215
IX-16 OccupancyPrograms $280,422$280,422
IX-17 TravelPrograms $2,999$2,999
IX-20 InterestPrograms $14,248$14,248
IX-23 InsurancePrograms $7,582$7,582
IX-24 Other expenses (24a–d)Programs $22,018 · Management $2,334$24,352
IX-24e All other expensesPrograms $22,138$22,138
IX-25 Total functional expensesPrograms $675,109 · Management $39,938 · Fundraising $0$715,047
Part X · Balance sheet $93,500 assets, 8 lines filed
X-1 Cash, non-interest-bearingStart of year $575$67,500
X-15 Other assets$26,000
X-16 Total assetsStart of year $575$93,500
X-24 Unsecured notes and loans payableStart of year $101,539$198,214
X-26 Total liabilitiesStart of year $101,539$198,214
X-27 Net assets without donor restrictionsStart of year −$100,964−$104,714
X-32 Total net assets or fund balancesStart of year −$100,964−$104,714
X-33 Total liabilities and net assetsStart of year $575$93,500
Part XI · Reconciliation of net assets −$104,714 net assets at year end
XI-1 Total revenue$711,297
XI-2 Total expenses$715,047
XI-3 Revenue less expenses−$3,750
XI-4 Net assets at start of year−$100,964
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year−$104,714

Form 990 e-file (XML) FY2020 from the IRS · Classification, formation year and address from the IRS Business Master File

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