Civic Intelligence

Prospect Schools Inc.

990 • Fiscal year 2014 • EIN 33-1174065

Jul 01, 2013 to Jun 30, 2014 • Filed on Mar 13, 2015

Organization ProfileN/A
3002 Fort Hamilton Parkway11218

(347) 889-7041

Siviq Scores

Precomputed percentiles for this filing year versus similar nonprofits in the same peer cohort.

Liabilities / Assets

46th percentile

0.02x

Higher debt load relative to assets than 46% of similar nonprofits.

2014 filings • NTEE B • $500k-$1M nonprofits • Source year 2014

Liabilities / Revenue

53rd percentile

0.04x

Higher debt load relative to revenue than 53% of similar nonprofits.

2014 filings • NTEE B • $500k-$1M nonprofits • Source year 2014

Net Margin

93rd percentile

54%

Higher net margin than 93% of similar nonprofits.

2014 filings • NTEE B • $500k-$1M nonprofits • Source year 2014

Top Officer Pay

52nd percentile

$0

Higher top officer pay than 52% of similar nonprofits.

Top officer pay equals 0.0% of source-year revenue.

2014 filings • NTEE B • $500k-$1M nonprofits • Source year 2014

Asset Growth

87th percentile

46%

Faster asset growth than 87% of similar nonprofits.

2014 filings • NTEE B • $500k-$1M nonprofits • Annualized from 2013 to 2014

Revenue Growth

93rd percentile

98%

Faster revenue growth than 93% of similar nonprofits.

2014 filings • NTEE B • $500k-$1M nonprofits • Annualized from 2013 to 2014

Balance Sheet
Liabilities / Assets46th percentile

Assets

Up

$507,691

Up $159,054 (+46%) from 2013

Net Assets

Up

$497,595

Up $153,958 (+45%) from 2013

Liabilities

Up

$10,096

Up $5,096 (+102%) from 2013

Revenue And Expenses
Liabilities / Revenue53rd percentileNet Margin93rd percentile

Revenue

Up

$284,912

Up $140,665 (+98%) from 2013

Expenses

Up

$130,954

Up $70,743 (+117%) from 2013

Net Income

Up

$153,958

Up $69,922 (+83%) from 2013

Historical Trend

Balance Sheet Trend

Asset Growth87th percentile

The highlighted filing sits inside the broader history for assets, liabilities, and net assets.

$8.0M$6.0M$4.0M$2.0M$0Assets 2010: $173,128Liabilities 2010: $43,271Net Assets 2010: $129,8572010Assets 2011: $212,991Liabilities 2011: $5,000Net Assets 2011: $207,9912011Assets 2012: $266,354Liabilities 2012: $6,753Net Assets 2012: $259,6012012Assets 2013: $348,637Liabilities 2013: $5,000Net Assets 2013: $343,6372013Assets 2014: $507,691Liabilities 2014: $10,096Net Assets 2014: $497,5952014Assets 2015: $1,560,193Liabilities 2015: $6,975Net Assets 2015: $1,553,2182015Assets 2016: $1,502,619Liabilities 2016: $5,816Net Assets 2016: $1,496,8032016Assets 2017: $1,779,890Liabilities 2017: $167,444Net Assets 2017: $1,612,4462017Assets 2018: $1,824,874Liabilities 2018: $16,135Net Assets 2018: $1,808,7392018Assets 2019: $2,400,447Liabilities 2019: $463,075Net Assets 2019: $1,937,3722019Assets 2020: $3,820,756Liabilities 2020: $800,937Net Assets 2020: $3,019,8192020Assets 2021: $3,261,917Liabilities 2021: $368,172Net Assets 2021: $2,893,7452021Assets 2022: $2,420,982Liabilities 2022: $285,415Net Assets 2022: $2,135,5672022Assets 2023: $6,258,572Liabilities 2023: $4,353,709Net Assets 2023: $1,904,8632023Assets 2024: $5,175,027Liabilities 2024: $3,842,254Net Assets 2024: $1,332,7732024

Highlighted filing

2014

Assets$507,691
Liabilities$10,096
Net Assets$497,595
Open 2014 Filing

Operations Trend

Revenue Growth93rd percentile

Revenue, expenses, and net income across loaded years, with this filing highlighted.

$15M$10M$5.0M$0-$5.0MRevenue 2010: $77,167Expenses 2010: $8,659Net Income 2010: $68,5082010Revenue 2011: $88,819Expenses 2011: $10,685Net Income 2011: $78,1342011Revenue 2012: $111,301Expenses 2012: $59,691Net Income 2012: $51,6102012Revenue 2013: $144,247Expenses 2013: $60,211Net Income 2013: $84,0362013Revenue 2014: $284,912Expenses 2014: $130,954Net Income 2014: $153,9582014Revenue 2015: $1,436,637Expenses 2015: $381,014Net Income 2015: $1,055,6232015Revenue 2016: $1,057,481Expenses 2016: $1,113,896Net Income 2016: -$56,4152016Revenue 2017: $1,302,575Expenses 2017: $1,186,932Net Income 2017: $115,6432017Revenue 2018: $1,371,715Expenses 2018: $1,175,422Net Income 2018: $196,2932018Revenue 2019: $4,806,265Expenses 2019: $4,677,632Net Income 2019: $128,6332019Revenue 2020: $7,039,893Expenses 2020: $5,957,446Net Income 2020: $1,082,4472020Revenue 2021: $6,213,918Expenses 2021: $6,339,992Net Income 2021: -$126,0742021Revenue 2022: $6,588,021Expenses 2022: $7,346,199Net Income 2022: -$758,1782022Revenue 2023: $9,043,437Expenses 2023: $9,274,141Net Income 2023: -$230,7042023Revenue 2024: $10,660,191Expenses 2024: $11,232,281Net Income 2024: -$572,0902024

Highlighted filing

2014

Revenue$284,912
Expenses$130,954
Net Income$153,958
Open 2014 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2013 to Jun 30, 2014
Signed
Mar 13, 2015
Return Version
2013v4.0
Gross Receipts
$300,195
Mission and Program Overview

Mission

The organization's purpose is to raise funds in support of new york charter schools.

Balance Sheet Detail
LineBeginningEndChange
Assets
Savings and Temporary Cash Investments$305,136$507,691▲ $202,555
Cash and Non-Interest-Bearing Accounts$43,501$0▼ $43,501
Total Assets$348,637$507,691▲ $159,054
Liabilities
Accounts Payable and Accrued Expenses$5,000$10,096▲ $5,096
Total Liabilities$5,000$10,096▲ $5,096
Net Assets / Fund Balance
Unrestricted Net Assets$331,697$454,015▲ $122,318
Temporarily Rstr Net Assets$11,940$43,580▲ $31,640
Total Net Assets Fund Balance$343,637$497,595▲ $153,958
Total Liabilities and Net Assets / Fund Balance$348,637$507,691▲ $159,054
Compensation and Service Providers
Top Officer Pay52nd percentile

Board Members and Trustees

NameTitle
Daniel RubensteinTrustee
Luyen ChouTrustee
Pearl Rock KaneTrustee
Revenue and Support

Revenue Composition

Contributions and Grants
$201,181
Program Service Revenue
$0
Investment Income
$608
Other Revenue
$83,123
All Other Contributions
$189,041
Change in Net Assets
$153,958

Audited Revenue Reconciliation

Revenue per Audited Statements
$300,195
Revenue Not Reported on Financial Statements
$-15,283
Revenue Not Reported on Form 990
$0
Other Revenue Adjustments
$-15,283
Total Revenue per Audited Statements
$300,195
Total Revenue per Form 990
$284,912
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Grants and Similar Amounts Paid$111,012
Other Expenses$19,942
Total Fundraising Expense$7,781
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Grants to Domestic Orgs$111,012--$111,012
All Other Expenses-$5,797-$5,797
Fees for Services Accounting-$5,000-$5,000
Office Expenses--$4,547$4,547
Other Expenses--$3,234$3,234
Insurance-$1,115-$1,115
Conferences and Meetings-$249-$249
Total Functional Expenses$111,012$12,161$7,781$130,954

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Audited Statements$146,237
Expenses per Audited Statements$130,954
Total Expenses per Form 990$130,954
Expenses Not Reported on Form 990$15,283
Expenses Not Reported on Financial Statements$0
International Activity

Grant and Assistance Recipients

RecipientLocationCategoryPurposeAmount
26-3206518-501(c)(3)To Support School Operations.$111,012
Fundraising, Events, and Gaming
Fundraising activities
Yes
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Gross Income$98,406
Fundraising Direct Expenses$15,283
Professional Fundraising Fees$0

Fundraising Events

EventGross ReceiptsGross RevenueDirect ExpensesNet Income
Event 1$110,546$98,406$2,213$96,193
Total Events$110,546$98,406$15,283$83,123
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Audit committee
Yes
Business relationship with family members
No
Business relationship with organization members
No
Material changes to governing documents
No
Compensation from other sources disclosed
No
CEO compensation reviewed
No
Other officer compensation reviewed
No
Conflict-of-interest policy
No
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Section B, Line 11

“Form 990 is reviewed by the board of trustees for approval. If changes are required, the organization will then forward to the auditing firm and a final version will be distributed to all board members prior to the irs submission.”

Form 990, Part VI, Section C, Line 19

“The organization makes its governing documents, conflict of interest policy, and financial statements available upon request.”

Filing and Contact Details

Filer

EIN
33-1174065
Phone
3478897041

Signing Officer

Name
Daniel Rubenstein
Title
Trustee
Phone
7189657950
Signed
2015-03-13
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Daniel Rubenstein
Formed
2007
Legal Domicile
Ny
Voting Board Members
3
Independent Board Members
3
Employees
0
Volunteers
50

Preparer

Preparer
Gus Saliba
Phone
2129573600
Supplemental Narrative

Additional Explanations

FORM 990, PART XII, FINANCIAL STATEMENTS AND REPORTING, LINE 2C:

“The organization's board of trustees is responsible for oversight of the audit and selection of the independent auditor.”

Financial Statement Notes

PART X, LINE 2:

“The organization's accounting policy provides that a tax expense or benefit from an uncertain tax position may be recognized when it is more likely than not that the position will be sustained upon examination, including resolutions of any related appeals or litigation processes, based on the technical merits. The organization has no uncertain tax positions resulting in an accrual of tax expense or benefit.”

PART XI, LINE 4B - OTHER ADJUSTMENTS:

“Expenses on special event -15,283.”

PART XII, LINE 2D - OTHER ADJUSTMENTS:

“Expenses on special event 15,283.”

Raw XML Appendix355 raw XML fields

This appendix keeps the raw XML leaves available for debugging and edge-case review. The human report above is the primary experience.

Path#Value
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IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0THE ORGANIZATION'S ACCOUNTING POLICY PROVIDES THAT A TAX EXPENSE OR BENEFIT FROM AN UNCERTAIN TAX POSITION MAY BE RECOGNIZED WHEN IT IS MORE LIKELY THAN NOT THAT THE POSITION WILL BE SUSTAINED UPON EXAMINATION, INCLUDING RESOLUTIONS OF ANY RELATED APPEALS OR LITIGATION PROCESSES, BASED ON THE TECHNICAL MERITS. THE ORGANIZATION HAS NO UNCERTAIN TAX POSITIONS RESULTING IN AN ACCRUAL OF TAX EXPENSE OR BENEFIT.
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt1EXPENSES ON SPECIAL EVENT -15,283.
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt2EXPENSES ON SPECIAL EVENT 15,283.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0PART X, LINE 2:
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc1PART XI, LINE 4B - OTHER ADJUSTMENTS:
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc2PART XII, LINE 2D - OTHER ADJUSTMENTS:
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IRS990ScheduleI/GrantRecordsMaintainedInd00
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IRS990ScheduleI/RecipientTable/IRCSectionDesc0501(C)(3)
IRS990ScheduleI/RecipientTable/NonCashAssistanceAmt00
IRS990ScheduleI/RecipientTable/NonCashAssistanceDesc0N/A
IRS990ScheduleI/RecipientTable/PurposeOfGrantTxt0TO SUPPORT SCHOOL OPERATIONS.
IRS990ScheduleI/RecipientTable/RecipientBusinessName/BusinessNameLine10BROOKLYN PROSPECT CHARTER SCHOOL
IRS990ScheduleI/RecipientTable/RecipientEIN0263206518
IRS990ScheduleI/RecipientTable/USAddress/AddressLine103002 FORT HAMILTON PARKWAY
IRS990ScheduleI/RecipientTable/USAddress/City0BROOKLYN
IRS990ScheduleI/RecipientTable/USAddress/State0NY
IRS990ScheduleI/RecipientTable/USAddress/ZIPCode011218
IRS990ScheduleI/RecipientTable/ValuationMethodUsedDesc0CASH
IRS990ScheduleI/SupplementalInformationDetail/ExplanationTxt0THE ORGANIZATION WAS ESTABLISHED TO RAISE FUNDS IN SUPPORT OF THE OPERATIONS OF BROOKLYN PROSPECT CHARTER SCHOOL. EACH YEAR, THE MONEY RAISED AS PART OF THE ORGANIZATION'S ANNUAL FUND IS DONATED TO BROOKLYN PROSPECT CHARTER SCHOOL, TO BE SPENT ON GENERAL OPERATING EXPENSES OF THE SCHOOL. THE ORGANIZATION DOES NOT PROVIDE GRANTS OR ASSISTANCE TO ANY ORGANIZATIONS OTHER THAN BROOKLYN PROSPECT CHARTER SCHOOL.
IRS990ScheduleI/SupplementalInformationDetail/FormAndLineReferenceDesc0PART I, LINE 1
IRS990ScheduleI/Total501c3OrgCnt01
IRS990ScheduleI/TotalOtherOrgCnt00
IRS990/ScheduleJRequiredInd00
IRS990/ScheduleORequiredInd01
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0FORM 990 IS REVIEWED BY THE BOARD OF TRUSTEES FOR APPROVAL. IF CHANGES ARE REQUIRED, THE ORGANIZATION WILL THEN FORWARD TO THE AUDITING FIRM AND A FINAL VERSION WILL BE DISTRIBUTED TO ALL BOARD MEMBERS PRIOR TO THE IRS SUBMISSION.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1THE ORGANIZATION MAKES ITS GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS AVAILABLE UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2THE ORGANIZATION'S BOARD OF TRUSTEES IS RESPONSIBLE FOR OVERSIGHT OF THE AUDIT AND SELECTION OF THE INDEPENDENT AUDITOR.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PART VI, SECTION B, LINE 11
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PART VI, SECTION C, LINE 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PART XII, FINANCIAL STATEMENTS AND REPORTING, LINE 2C:
IRS990/SchoolOperatingInd00
IRS990/SignificantChangeInd00
IRS990/SignificantNewProgramSrvcInd00
IRS990/StatesWhereCopyOfReturnIsFldCd0NY
IRS990/SubjectToProxyTaxInd00
IRS990/TaxablePartyNotificationInd00
IRS990/TaxExemptBondsInd00
IRS990/TemporarilyRstrNetAssetsGrp/BOYAmt011940
IRS990/TemporarilyRstrNetAssetsGrp/EOYAmt043580
IRS990/TempOrPermanentEndowmentsInd00
IRS990/TerminateOperationsInd00
IRS990/TotalAssetsBOYAmt0348637
IRS990/TotalAssetsEOYAmt0507691
IRS990/TotalAssetsGrp/BOYAmt0348637
IRS990/TotalAssetsGrp/EOYAmt0507691
IRS990/TotalCompGreaterThan150KInd00
IRS990/TotalContributionsAmt0201181
IRS990/TotalEmployeeCnt00
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt07781
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt012161
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0111012
IRS990/TotalFunctionalExpensesGrp/TotalAmt0130954
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt05000
IRS990/TotalLiabilitiesEOYAmt010096
IRS990/TotalLiabilitiesGrp/BOYAmt05000
IRS990/TotalLiabilitiesGrp/EOYAmt010096
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt0343637
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt0497595
IRS990/TotalOtherCompensationAmt00
IRS990/TotalProgramServiceExpensesAmt0111012
IRS990/TotalReportableCompFromOrgAmt00
IRS990/TotalRevenueGrp/ExclusionAmt083731
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt00
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0284912
IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt00
IRS990/TotalVolunteersCnt050
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt0348637
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt0507691
IRS990/TotReportableCompRltdOrgAmt00
IRS990/TrnsfrExmptNonChrtblRltdOrgInd00
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd00
IRS990/UnrestrictedNetAssetsGrp/BOYAmt0331697
IRS990/UnrestrictedNetAssetsGrp/EOYAmt0454015
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine103002 FORT HAMILTON PARKWAY
IRS990/USAddress/City0BROOKLYN
IRS990/USAddress/State0NY
IRS990/USAddress/ZIPCode011218
IRS990/VotingMembersGoverningBodyCnt03
IRS990/VotingMembersIndependentCnt03
IRS990/WebsiteAddressTxt0N/A
IRS990/WhistleblowerPolicyInd00
ReturnHeader/BuildTS02016-03-07 17:11:31Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd01
ReturnHeader/BusinessOfficerGrp/PersonNm0DANIEL RUBENSTEIN
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0TRUSTEE
ReturnHeader/BusinessOfficerGrp/PhoneNum07189657950
ReturnHeader/BusinessOfficerGrp/SignatureDt02015-03-13
ReturnHeader/Filer/BusinessName/BusinessNameLine10PROSPECT SCHOOLS INC
ReturnHeader/Filer/BusinessNameControlTxt0PROS
ReturnHeader/Filer/EIN0331174065
ReturnHeader/Filer/PhoneNum03478897041
ReturnHeader/Filer/USAddress/AddressLine103002 FORT HAMILTON PARKWAY
ReturnHeader/Filer/USAddress/City0BROOKLYN
ReturnHeader/Filer/USAddress/State0NY
ReturnHeader/Filer/USAddress/ZIPCode011218
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0061671819
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine10FRUCHTER ROSEN & CO PC
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine10156 WEST 56TH STREET STE 1804
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/City0NEW YORK
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/State0NY
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCode010019
ReturnHeader/PreparerPersonGrp/PhoneNum02129573600
ReturnHeader/PreparerPersonGrp/PreparationDt02015-03-04
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0GUS SALIBA
ReturnHeader/ReturnTs02015-03-13T08:57:01-05:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02013-07-01
ReturnHeader/TaxPeriodEndDt02014-06-30
ReturnHeader/TaxYr02013

Document Assets

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Filings

Displayed year

2014 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$507,691
Liabilities
$10,096
Net assets
$497,595
Revenue
$284,912
Expenses
$130,954
Net income
$153,958
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$5.18$3.84$1.33$10.7$11.2$0.57
2023Detailed filing. Detailed filing data is available for this year.$6.26$4.35$1.90$9.04$9.27$0.23
2022Detailed filing. Detailed filing data is available for this year.$2.42$0.29$2.14$6.59$7.35$0.76
2021Detailed filing. Detailed filing data is available for this year.$3.26$0.37$2.89$6.21$6.34$0.13
2020Detailed filing. Detailed filing data is available for this year.$3.82$0.80$3.02$7.04$5.96$1.08
2019Detailed filing. Detailed filing data is available for this year.$2.40$0.46$1.94$4.81$4.68$0.13
2018Detailed filing. Detailed filing data is available for this year.$1.82$0.02$1.81$1.37$1.18$0.20
2017Detailed filing. Detailed filing data is available for this year.$1.78$0.17$1.61$1.30$1.19$0.12
2016Detailed filing. Detailed filing data is available for this year.$1.50$0.01$1.50$1.06$1.11$0.06
2015Detailed filing. Detailed filing data is available for this year.$1.56$0.01$1.55$1.44$0.38$1.06
2014Detailed filing. Detailed filing data is available for this year.$0.51$0.01$0.50$0.28$0.13$0.15
2013Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.35$0.01$0.34$0.14$0.06$0.08
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.27$0.01$0.26$0.11$0.06$0.05
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.21$0.01$0.21$0.09$0.01$0.08
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.17$0.04$0.13$0.08$0.01$0.07