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Bold Schools INC FY2024 filing

Tax-deductible

Bronx, NY501(c)(3)Since 2019EducationEIN 83-3915942

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To serve as a fundraising arm for Bold charter school, and to support Bold charter school with facilities.

501(c)(3) charity; gifts are tax-deductible.
77¢ of each $1 spent went to programs.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX

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
5 of 5
filings with a surplus
Average surplus $377K a year · 60% of revenue · last 5 filings
Looks good: a surplus in 5 of the last 5 filings.
Pt I · Ln 19 · 5 filings
Spent on programs
77%
of spending
Looks good: 77% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Cash reserves
19 mo
of spending, in cash
Looks good: 19.2 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Liabilities
$7.8M
81% of total assets
Concern: liabilities are 81% of assets; over 80%.
Pt X · Ln 26
Independent board members
3
of 3 voting members
Looks good: 3 of 3 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$841K
-27% vs prior year
Spent
$325K
To programs
77%
Net assets
$1.9M
By yearFY2020–FY2024
Revenue
$841K
FY2024▼ -27%
Revenue by fiscal year
FY2020$335K
FY2021$376K
FY2022$445K
FY2023$1.2M
FY2024$841K
FY2024$658K
Expenses
$325K
FY2024▼ -28%
Expenses by fiscal year
FY2020$48K
FY2021$168K
FY2022$272K
FY2023$451K
FY2024$325K
FY2024$1.2M
Net assets
$1.9M
FY2024▲ +38%
Net assets by fiscal year
FY2020$262K
FY2021$471K
FY2022$644K
FY2023$1.3M
FY2024$1.9M
FY2024$1.3M

From the FY2024 Form 990 (year ending June 2024) · see the original

Form 990 (PDF) Claim
You’re viewing the FY2024 filing — not the latest on file. See the latest (FY2024) →

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2024. IRS ruling in Jun 2019.

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

Where the money goes

77 cents of each dollar spent went to programs.

Program services 77% · $251K Management & general 22% · $70K Fundraising 1% · $4K

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

3 people listed on the 990.

Part VII, Section A · reportable compensation · most recent filed roster (FY2023); the FY2024 filing did not itemize Part VII
Alex Nicolau
Treasurer
$0Pt VII · Sec A
$0Pt VII · Sec A
Eric Zakre
President
$0Pt VII · Sec A
See Bold Schools 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

Programs and updates

Raises funds and provides facilities for BOLD Charter School.

Provided by the organization

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1 program · $251K · in their own filed words · FY2023
01

To serve as a fundraising arm for bold charter school, and to support bold charter school with facilities.

$251Kprogram expense

Funders

Who pays for it.

From grant filings on record. Receipts are incomplete: individual donors are never listed.

By the numbers

The FY2024 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$841K
Ln 12
Other incomeLn 4–11$825K
Gifts and grantsLn 1h$16K
Money outPt IX
$325K
Ln 25
Programscol B$251K
Managementcol C$70K
Fundraisingcol D$4K
Owns and owesPt X
$1.9M
net assets · Ln 32
Cash and savingsLn 1–2$521K
Total assetsLn 16$9.7M
LiabilitiesLn 26$7.8M
PeoplePt VI, VII
3
listed · VII A
PaidVII A0
Voting boardVI 1a3
IndependentVI 1b3
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$16K
Other incomeLn 4–11$825K
Total revenueLn 12$841K
Assets in detailPt X, end of year
CashLn 1$521K
Cash and savings togetherLn 1–2$521K
Land, buildings, equipmentLn 10c$1.9M
Other assetsLn 15$7.2M
Total assetsLn 16$9.7M
LiabilitiesLn 26$7.8M
Net assetsLn 32$1.9M
OperationsPt I, VI
EmployeesI 50
VolunteersI 60
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$98K$521K
Land, buildings, equipmentLn 10c$461K$1.9M
Total assetsLn 16$6.8M$9.7M
LiabilitiesLn 26$5.4M$7.8M
Net assetsLn 32$1.3M$1.9M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Legal feesLn 11b$63K$63K
Accounting feesLn 11c$41$41
Other fees for servicesLn 11g$46K$46K
Depreciation, depletion and amortizationLn 22$205K$205K
Other expenses (24a–d)Ln 24$11K$7K$4K
Total functional expensesLn 25$325K$251K$70K$4K

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 Viewing $841K$325K$515K$1.9M 990 PDF
FY2023 $1.2M$451K$701K$1.3M 990 PDF
FY2022 $445K$272K$173K$644K 990 PDF
FY2021 $376K$168K$208K$471K 990 PDF
FY2020 $335K$48K$287K$262K 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 (4 parts)
Part VIII · Statement of revenue $840,815 across 4 lines filed
VIII-1f All other contributions, gifts and grants$15,876
VIII-1h Total contributions, gifts and grants$15,876
VIII-6 Net rental income or lossRelated to mission $824,939$824,939
VIII-12 Total revenueRelated to mission $824,939 · Unrelated business $0 · Excluded from tax $0$840,815
Part IX · Statement of functional expenses $325,379 across 5 lines filed
IX-11b Legal feesManagement $63,218$63,218
IX-11c Accounting feesManagement $41$41
IX-11g Other fees for servicesPrograms $46,036$46,036
IX-22 Depreciation, depletion and amortizationPrograms $204,784$204,784
IX-24 Other expenses (24a–d)Management $6,875 · Fundraising $4,425$11,300
IX-25 Total functional expensesPrograms $250,820 · Management $70,134 · Fundraising $4,425$325,379
Part X · Balance sheet $9,672,642 assets, 11 lines filed
X-1 Cash, non-interest-bearingStart of year $97,933$520,573
X-9 Prepaid expenses and deferred chargesStart of year $1,155$18,750
X-10c Land, buildings and equipment, netStart of year $461,282$1,910,325
X-15 Other assetsStart of year $6,201,026$7,222,994
X-16 Total assetsStart of year $6,761,396$9,672,642
X-17 Accounts payable and accrued expensesStart of year $71,095$1,197,583
X-25 Other liabilitiesStart of year $5,345,274$6,614,596
X-26 Total liabilitiesStart of year $5,416,369$7,812,179
X-27 Net assets without donor restrictionsStart of year $1,345,027$1,860,463
X-32 Total net assets or fund balancesStart of year $1,345,027$1,860,463
X-33 Total liabilities and net assetsStart of year $6,761,396$9,672,642
Part XI · Reconciliation of net assets $1,860,463 net assets at year end
XI-1 Total revenue$840,815
XI-2 Total expenses$325,379
XI-3 Revenue less expenses$515,436
XI-4 Net assets at start of year$1,345,027
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$1,860,463

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

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