Brooklyn Prospect Charter School
- Assets
- $14.7m
- Revenue
- $42.3m
- Investments
- $0.0
- Employees
- 354
- Location
- Brooklyn, NY
- Founding
- 08/2009
- Data as of
- 06/2021
- EIN
- 26-3206518
Organization Overview
Brooklyn Prospect Charter School is located in Brooklyn, NY. The organization was established in 2009. According to its NTEE Classification (B29) the organization is classified as: Charter Schools, under the broad grouping of Education and related organizations. As of 06/2021, Brooklyn Prospect Charter School employed 354 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Brooklyn Prospect Charter School is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 06/2021, Brooklyn Prospect Charter School generated $42.3m in total revenue. This organization has experienced exceptional growth, as over the past 6 years, it has increased revenue by an average of 14.5% each year . All expenses for the organization totaled $38.7m during the year ending 06/2021. While expenses have increased by 14.2% per year over the past 6 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
OUR SCHOOL PREPARES STUDENTS FOR SUCCESS AS GLOBAL CITIZENS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
BROOKLYN PROSPECT CHARTER SCHOOL IS AN EDUCATIONAL CORPORATION THAT OPERATES THREE CHARTER SCHOOLS IN THE BOROUGH OF BROOKLYN, NEW YORK. AT BROOKLYN PROSPECT, WE BELIEVE THAT FAMILIES SHOULDN'T HAVE TO CHOOSE BETWEEN STRONG ACADEMICS AND A DIVERSE COMMUNITY. AT THE HEART OF OUR PROGRAM ARE THREE KEY COMMITMENTS: DIVERSITY, WORLD-CLASS ACADEMICS, AND EXCELLENT TEACHING. FOR THE 2020-2021 SCHOOL YEAR, WE SERVED APPROXIMATELY 1,627 STUDENTS IN GRADES KINDERGARTEN THROUGH TWELFTH.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Kim Raccio Principal, High School | 40 | $130,397 | |
Folake Akinola-Pinard Principal, Elementary School | 40 | $117,960 | |
Kelly Vaugn Teacher | 40 | $110,694 | |
Jacklyn Deluca Principal, Middle School | 40 | $107,775 | |
Anita Walsh Artist-In-Residence | 40 | $106,844 | |
Gravelle Pierre Treasurer | OfficerTrustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
School Professional Education Services | 6/29/21 | $103,170 |
Atlantic Program Of De Lage Landen Printer/copying Services | 6/29/21 | $205,393 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $5,277,100 |
| All other contributions, gifts, grants, and similar amounts not included above | $545,160 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $5,822,260 |
| Total Program Service Revenue | $35,653,308 |
| Investment income | $3,071 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $42,286,541 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $18,374,846 |
| Pension plan accruals and contributions | $227,834 |
| Other employee benefits | $2,116,128 |
| Payroll taxes | $1,638,778 |
| Fees for services: Management | $4,295,198 |
| Fees for services: Legal | $9,131 |
| Fees for services: Accounting | $37,750 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $994,004 |
| Advertising and promotion | $0 |
| Office expenses | $916,609 |
| Information technology | $294,269 |
| Royalties | $0 |
| Occupancy | $7,932,500 |
| Travel | $5,053 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $140,395 |
| Interest | $30,569 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $798,985 |
| Insurance | $150,052 |
| All other expenses | $0 |
| Total functional expenses | $38,695,898 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $104,030 |
| Savings and temporary cash investments | $5,771,175 |
| Pledges and grants receivable | $1,536,564 |
| Accounts receivable, net | $20,703 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $18,218 |
| Net Land, buildings, and equipment | $4,423,172 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $2,873,681 |
| Total assets | $14,747,543 |
| Accounts payable and accrued expenses | $157,044 |
| Grants payable | $0 |
| Deferred revenue | $43,735 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $1,350,000 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $3,508,990 |
| Total liabilities | $5,059,769 |
| Net assets without donor restrictions | $9,687,774 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $14,747,543 |
Grants Recieved
Over the last fiscal year, we have identified 3 grants that Brooklyn Prospect Charter School has recieved totaling $2,339.
| Awarding Organization | Amount |
|---|---|
Amazonsmile Foundation Seattle, WA PURPOSE: GENERAL SUPPORT | $1,839 |
Herbert And Lillian Heilpern Family Foundation Wilmington, DE PURPOSE: GENERAL & UNRESTRICTED | $300 |
Arcus Foundation New York, NY PURPOSE: GENERAL OPERATING SUPPORT | $200 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Ascend Charter Schools Brooklyn, NY | $45,182,055 | $130,071,368 |
Team Academy Charter School Inc Newark, NJ | $62,784,056 | $112,036,254 |
Agora Cyber Charter School King Of Prussia, PA | $29,812,274 | $123,843,368 |
Kipp Nyc Public Charter Schools Ii New York, NY | $29,013,020 | $109,312,231 |
The Academy Charter School Hempstead, NY | $181,369,373 | $54,353,660 |
Mastery Charter High School Philadelphia, PA | $43,740,057 | $52,618,647 |
Public Prep Charter School Academies Bronx, NY | $28,993,375 | $52,903,915 |
Achievement First Inc New Haven, CT | $52,811,061 | $64,422,955 |
Explore Excel Charter School Brooklyn, NY | $21,686,253 | $46,865,700 |
Brooklyn Prospect Charter School Brooklyn, NY | $14,747,543 | $42,286,541 |
Little Red School House Inc New York, NY | $50,588,811 | $36,915,940 |
Philadelphia Performing Arts A String Theory Charter School Philadelphia, PA | $27,708,411 | $43,176,770 |