Overview
What is Friends Of Prospect Schools Ny Inc?
Friends of Prospect Schools NY Inc is a not-for-profit corporation established in New York State on April 9, 2018. The primary purpose of this organization is to support Brooklyn Prospect Charter School, an educational institution that operates three charter schools in Brooklyn, NY. Friends of Prospect Schools NY provides essential support by managing the school's real estate and facilities needs. Additionally, they raise funds and resources to enhance the educational experience of the school's students. They sublease facilities to the school, generating an annual rental income of $8,522,202 during the fiscal year, as mentioned in the provided information.
What are the reviews and ratings of this charity?
**Charity Navigator Rating: 79% (Three-Star out of Four Star Rating)**
Friends Of Prospect Schools NY Inc holds a Three-Star rating from Charity Navigator, primarily based on its accountability and finance metrics. The organization showcases strong governance with a fully independent board and thorough financial auditing. However, the high liabilities to assets ratio may raise questions regarding financial stability, although its operational expenses are predominantly directed towards program services.
The charity’s commitment to transparency is evident through the adoption of essential policies such as conflict of interest and whistleblower policies. While it lacks a score for impact measurement and community culture, the overall emphasis on accountability points toward a responsible organization striving to fulfill its mission effectively.
Unfortunately, user reviews from GreatNonprofits could not be accessed, so further insights from individuals interacting with the nonprofit are not available. This limits the ability to capture a broader sentiment but does not detract from the strengths reflected in its Charity Navigator rating.
This AI summary has been generated from information found on Charity Navigator.
Is Friends Of Prospect Schools Ny Inc legitimate?
Friends Of Prospect Schools Ny Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Friends Of Prospect Schools Ny Inc submitted a form 990, which is a tax form used by tax-exempt organizations in the U.S., indicating its operational transparency and adherence to regulatory requirements. Donations to this organization are tax deductible.
Heare are some key statistics you may want to consider:
Executive Compensation: $0
Professional Fundraising Fees: $0
Other Salaries and Wages: $0
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What is the mission statement of Friends Of Prospect Schools Ny Inc?
Friends of Prospect Schools NY Inc's mission is to support the operations of a charter school, referred to as the School, by managing its real estate and facilities-related needs. Furthermore, the organization raises funds and resources to provide additional support to the School and enhance the educational experience of its students. By subleasing facilities to the School, Friends of Prospect Schools NY, Inc. generated a substantial income of $8,522,202 during the fiscal year. The not-for-profit corporation, established in 2018, aims to contribute to the School's success by addressing its real estate needs and securing additional resources.
Who is the CEO of Friends Of Prospect Schools Ny Inc?
Daniel Rubenstein is the Chair of Friends Of Prospect Schools Ny Inc.
What is the revenue of Friends Of Prospect Schools Ny Inc?
Friends Of Prospect Schools Ny Inc's revenue in 2022 was $8,522,248.
Who are the executives of Friends Of Prospect Schools Ny Inc and what are their salaries?
There 4 volunteers at Friends Of Prospect Schools Ny Inc.
Here are 4 key members and their salaries:
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- Other: $0
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- Other: $0
Where can I find the form 990 for Friends Of Prospect Schools Ny Inc?
Friends Of Prospect Schools Ny Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Friends Of Prospect Schools Ny Inc
Friends of Prospect Schools NY Inc is a not-for-profit organization with a mission to support the operations of Brooklyn Prospect Charter School. This mission is twofold: firstly, the organization manages the school's real estate and facilities-related needs, ensuring the school has the necessary infrastructure to operate effectively. Secondly, Friends of Prospect Schools NY raises funds and resources to enhance the educational experience of the school's students. The organization's subleasing of facilities to the school generated $8,522,202 in rental income during the fiscal year, demonstrating its significant role in supporting the school's operations.
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Impact
July, 2024
Friends Of Prospect Schools Ny Inc's impact can be seen in its support of Brooklyn Prospect Charter School, which operates three charter schools in Brooklyn, NY. The organization plays a vital role in managing the school's real estate and facilities-related needs, as well as raising funds to enhance the experience of the students. Through its efforts, Friends Of Prospect Schools Ny Inc contributes to the provision of quality education and support for the school community.
This information is meant to be a general summary of Friends Of Prospect Schools Ny Inc. Please take the time to review official sources before making any decisions based upon the content provided here.
Financials
This financial information is from Propublica.
Other financial information:
This information is from the most recently submitted tax form from this organization, which was in 2022.
- Investment Income: $46
- Program Service Revenue: $8,522,202
- Gross Receipts: $8,522,248
Assets and Liabilities:
- Total Assets: $4,585,951
- Total Liabilities: $2,588,397
- Net Assets: $1,997,554
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
RENTAL INCOME
Revenue
$8,522,202
Organization Details
Founding Year
2018
Phone
(718) 643-1086Principal Officer
Daniel Rubenstein
Main Address
397 BRIDGE STREET 9TH FLOOR, BROOKLYN, NY, 11201
NTEE Category
Code: B12 - Education
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