Friends Of Bronx Preparatory Charter School in Bronx, New York (NY)

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Friends Of Bronx Preparatory Charter School
Employer Identification Number (EIN)161571685
Name of OrganizationFriends Of Bronx Preparatory Charter School
In Care of NameKristin Kearns Jordan
Address3872 3rd Ave, Bronx, NY 10457-8222
SubsectionEducational Organization
Ruling Date08/2000
DeductibilityContributions are deductible
FoundationOrganizations operated solely for the benefit of and in conjunction with organizations described in 10 through 16 above
OrganizationCorporation
Exempt Organization StatusUnconditional Exemption
Tax Period06/2012
Assets$10,000,000 to $49,999,999
Income$500,000 to $999,999
Filing Requirement990 (all other) or 990EZ return
Asset Amount$15,780,437
Amount of Income$883,648
Form 990 Revenue Amount$271,507
National Taxonomy of Exempt Entities (NTEE)Educational Institutions and Related Activities: Parent/Teacher Group


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Amount of income in 2012: $883,648
Friends Of Bronx Preparatory Charter School: 

 $883,648
Other organizations performing similar types of work: 

 $63,321

Assets in 2012: $15,780,437
This organization: 

 $15,780,437
Other organizations performing similar types of work: 

 $25,712

Expenses in 2007: $378,418
Friends Of Bronx Preparatory Charter School: 

 $378,418
Other organizations performing similar types of work: 

 $31,197

Income to expenses ratio in 2007: 1.9
Friends Of Bronx Preparatory Charter School: 

 1.9
Other organizations performing similar types of work: 

 1.0

Expenses allocated to program services in 2007: 73.6%
Friends Of Bronx Preparatory Charter School: 

 73.6%
Other organizations performing similar types of work: 

 0.0%

Number of employees in 2007: 4
This organization: 

 4
Other organizations performing similar types of work: 

 4

Employees paid over $50,000 in 2007: 25.0%
Friends Of Bronx Preparatory Charter School: 

 25.0%
Other organizations performing similar types of work: 

 25.0%

Grants share in income in 2007: 85.9%
This organization: 

 85.9%
Other organizations performing similar types of work: 

 5.7%

Financial snapshot ($)

Revenue for 2007

Assets at end of 2007

Expenses for 2007

Functional Expenses for 2007 ($)

Income-Producing Activities for 2007

Revenue, Expenses, and Changes in Net Assets or Fund Balances
200120022003200520062007
Total revenue$5,001,291$3,135,490$1,500,753$3,282,547$2,137,784$732,665
Contributions, gifts, grants, and similar amounts received$5,003,928$3,086,833$1,447,918$2,366,406$1,403,869$629,681
Contributions to donor advised funds$0$0
Direct public support$5,003,928$2,086,833$1,447,918$2,366,406$1,403,869$629,681
Indirect public support$0$0$0$0$0$0
Government contributions (grants)$0$1,000,000$0$0$0$0
Program service revenue including government fees and contracts$0$0$0$376,000$0$0
Membership dues and assessments$0$0$0$0$0$0
Interest on savings and temporary cash investments$0$50,171$37,047$45,700$42,809$66,618
Dividends and interest from securities$0$0$0$0$0$0
Net rental income or (loss)$0$0$0$0$0$-12,044
Gross rents$0$0$0$0$0$704,100
Less: rental expenses$0$0$0$0$0$716,144
Other investment income$0$0$0$0$0$0
Gain or (loss) from sales of assets other than inventory$-2,637$0$90$-241$-503$236
Gross amount from sales of assets other than inventory$12,863$0$160,747$36,104$51,243$41,010
Less: cost or other basis and sales expenses$15,500$0$160,657$36,345$51,746$40,774
Net income or (loss) from special events and activities$0$-1,514$9,484$493,215$-15,460$-9,097
Gross revenue$0$35,390$26,533$615,342$1,986$13,200
Less: direct expenses other than fundraising expenses$0$36,904$17,049$122,127$17,446$22,297
Gross profit or (loss) from sales of inventory$0$0$0$0$0$0
Gross sales of inventory, less returns and allowances$0$0$0$0$0$0
Less: cost of goods sold$0$0$0$0$0$0
Other revenue$0$0$6,214$1,467$707,069$57,271
Total expenses$118,916$318,102$369,694$1,147,731$1,132,566$378,418
Program services$61,865$176,444$255,920$966,375$994,635$278,655
Management and general$31,428$115,788$82,705$85,807$103,378$73,168
Fundraising$25,623$25,870$31,069$95,549$34,553$26,595
Payments to affiliates$0$0$0$0$0$0
Net assets or fund balances at end of year$5,246,798$8,238,854$9,388,413$14,759,722$15,764,940$16,119,186
Excess or (deficit) for the year$4,882,375$2,817,388$1,131,059$2,134,816$1,005,218$354,247
Net assets or fund balances at beginning of year$364,423$5,246,798$8,238,854$12,624,906$14,759,722$15,764,939
Other changes in net assets or fund balances$0$174,668$18,500$0$0$0
Statement of Functional Expenses (for 2007)
TotalProgram servicesManagement and generalFundraising
Total functional expenses$378,418$278,655$73,168$26,595
Grants paid from donor advised funds$0
Other grants and allocations$0
Specific assistance to individuals$0
Benefits paid to or for members$0
Compensation of current officers, directors, key employees, etc.$98,040$30,827$52,697$14,516
Compensation of former officers, directors, key employees, etc.$0$0$0$0
Compensation and other distributions, not included above, to disqualified persons (as defined under section 4958(f)(1)) and persons described in section 4958(c)(3)(B)$0$0$0$0
Salaries and wages of employees not included above$54,515$40,722$10,815$2,978
Pension plan contributions not included above$7,632$7,280$276$76
Employee benefits not included above$10,748$10,252$389$107
Payroll taxes$10,564$10,077$382$105
Professional fundraising fees$0$0$0$0
Accounting fees$17,567$16,757$635$175
Legal fees$1,047$999$38$10
Supplies$0$0$0$0
Telephone$111$0$0$111
Postage and shipping$120$0$0$120
Occupancy$0$0$0$0
Equipment rental and maintenance$41,169$38,069$2,703$397
Printing and publications$0$0$0$0
Travel$201$191$7$3
Conferences, conventions, and meetings$0$0$0$0
Interest$0$0$0$0
Depreciation, depletion, etc.$113,653$108,648$3,880$1,125
Other expenses not covered above$23,051$14,833$1,346$6,872
Balance Sheets
200120022003200520062007
Total assets$5,363,879$9,176,589$14,021,899$18,927,444$19,584,322$19,822,497
Cash - non-interest-bearing$281,251$736,351$1,455,138$560,768$53,156$16,322
Savings and temporary cash investments$0$3,435,383$1,989,729$313,401$1,374,284$2,163,670
Accounts receivable less allowance for doubtful accounts$0$0$0$0$0$0
Pledges receivable less allowance for doubtful accounts$4,615,000$1,473,000$553,608$175,000$76,000$262,927
Grants receivable$0$0$0$0$0$0
Receivables from current and former officers, directors, trustees, and key employees$0$0$0$0$0$0
Receivables from other disqualified persons (as defined under section 4958(f)(1)) and persons described in section 4958(c)(3)(B)$0$0
Other notes and loans receivable less allowance for doubtful accounts$0$0$0$0$0$0
Inventories for sale or use$0$0$0$0$0$0
Prepaid expenses and deferred charges$0$194,677$35,307$7,236$69,300$0
Investments - publicly-traded securities$0$0
Investments - other securities$0$50,000$0$0$0$0
Investments - land, buildings, and equipment less accumulated depreciation$0$0$0$0$0$0
Investments - other$0$0$0$0$0$0
Land, buildings, and equipment less accumulated depreciation$467,628$3,287,178$9,861,003$17,471,838$17,089,910$17,305,508
Other assets, including program-related investments$0$0$127,114$399,201$921,672$74,070
Total liabilities$117,081$937,735$4,633,486$4,167,722$3,819,382$3,703,311
Accounts payable and accrued expenses$52,902$520,710$941,938$287,134$43,127$38,395
Grants payable$0$0$0$0$0$0
Deferred revenue$0$0$1,000,000$500$0$0
Loans from officers, directors, trustees, and key employees$0$0$0$0$0$0
Tax-exempt bond liabilities$0$0$0$0$0$0
Mortgages and other notes payable$0$0$2,691,548$3,880,088$3,776,255$3,664,916
Other liabilities$64,179$417,025$0$0$0$0
Total liabilities and net assets/fund balances$5,363,879$9,176,589$14,021,899$18,927,444$19,584,322$19,822,497
Total net assets or fund balances$5,246,798$8,238,854$9,388,413$14,759,722$15,764,940$16,119,186
Reconciliation of Revenue per Audited Financial Statements With Revenue per Return
200120022003200520062007
Total revenue$5,001,291$3,135,490$1,500,753$3,282,547$2,137,784$732,665
Total revenue, gains, and other support per audited financial statements$5,019,928$3,310,158$1,519,253$3,257,850$2,143,287$1,427,983
Other expenses$18,637$174,668$18,500$0$5,503$-21,308
Net unrealized gains on investments$0$0$0$0$0$0
Donated services and use of facilities$16,000$174,668$18,500$0$5,000$15,000
Recoveries of prior year grants$0$0$0$0$0$0
Other$2,637$0$0$0$503$-36,308
Other revenue$0$0$0$24,697$0$-716,626
Investment expenses$0$0$0$0$0$0
Other$0$0$0$24,697$0$-716,626
Reconciliation of Expenses per Audited Financial Statements With Expenses per Return
200120022003200520062007
Total expenses$118,916$318,102$369,694$1,147,731$1,132,566$378,418
Total expenses and losses per audited financial statements$137,553$318,102$369,694$1,123,034$1,138,069$1,073,736
Other revenue$18,637$0$0$241$5,503$731,626
Donated services and use of facilities$16,000$0$0$0$5,000$15,000
Prior year adjustments$0$0$0$0$0$0
Losses$0$0$0$0$0$0
Other$2,637$0$0$241$503$716,626
Other expenses$0$0$0$24,938$0$36,308
Investment expenses$0$0$0$0$0$0
Other$0$0$0$24,938$0$36,308
Current Officers, Directors, Trustees, and Key Employees
Average hours per week devoted to positionCompensationContributions to employee benefit plans & deferred compensation plansExpense account and other allowances
40$51,000$5,382$0
40$47,040$4,460$0
Total number of officers, directors, and trustees permitted to vote on organization business at board meetings15
Are any officers, directors, trustees, or key employees listed in Form 990, Part V-A, or highest compensated employees listed in Schedule A, Part I, or highest compensated professional and other independent contractors listed in Schedule A, Part II-A or II-B, related to each other through family or business relationships?No
Do any officers, directors, trustees, or key employees listed in Form 990, Part V-A, or highest compensated employees listed in Schedule A, Part I, or highest compensated professional and other independent contractors listed in Schedule A, Part II-A or II-B, receive compensation from any other organizations, whether tax exempt or taxable, that are related to the organization?Yes
Does the organization have a written conflict of interest policy?Yes
Other Information
Did the organization have unrelated business gross income of $1,000 or more during the year covered by this return, and has it filed a tax return on Form 990-T for this year?No
Was there a liquidation, dissolution, termination, or substantial contraction during the year?No
Is the organization related (other than by association with a statewide or nationwide organization) through common membership, governing bodies, trustees, officers, etc., to any other exempt or nonexempt organization?Yes
Direct and indirect political expenditures$0
Did the organization file Form 1120-POL for this year?No
Were substantially all dues nondeductible by members?
Did the organization make only in-house lobbying expenditures of $2,000 or less?
Dues, assessments, and similar amounts from members$0
Section 162(e) lobbying and political expenditures$0
Aggregate nondeductible amount of section 6033(e)(1)(A) dues notices$0
Taxable amount of lobbying and political expenditures$0
Does the organization elect to pay the section 6033(e) tax on the amount above?
If section 6033(e)(1)(A) dues notices were sent, does the organization agree to add the amount above to its reasonable estimate of dues allocable to nondeductible lobbying and political expenditures for the following tax year?
Initiation fees and capital contributions$0
Gross receipts for public use of club facilities$0
At any time during the year, did the organization, directly or indirectly, own a controlled entity within the meaning of section 512(b)(13)?No
Amount of tax imposed on the organization during the year under: section 4911$0
Amount of tax imposed on the organization during the year under: section 4912$0
Amount of tax imposed on the organization during the year under: section 4955$0
Did the organization engage in any section 4958 excess benefit transaction during the year or did it become aware of an excess benefit transaction from a prior year?No
Amount of tax imposed on the organization managers or disqualified persons during the year under sections 4912, 4955, and 4958$0
Amount of tax above, reimbursed by the organization$0
At any time during the tax year, was the organization a party to a prohibited tax shelter transaction?No
Did the organization acquire a direct or indirect interest in any applicable insurance contract?No
Did the supporting organization, or a fund maintained by a sponsoring organization, have excess business holdings at any time during the year?No
Number of employees employed in the pay period that includes March 12, 20064
Analysis of Income-Producing Activities (for 2007)
Unrelated business incomeExcluded by section 512, 513, or 514Related or exempt function income
Business codeAmountExclusion codeAmount
Total$0$102,984$0
Program service revenue
Program service revenue 1000000$000$0$0
Program service revenue 2000000$000$0$0
Program service revenue 3000000$000$0$0
Program service revenue 4000000$000$0$0
Program service revenue 5000000$000$0$0
Medicare/Medicaid payments000000$000$0$0
Fees and contracts from government agencies000000$000$0$0
Membership dues and assessments000000$000$0$0
Interest on savings and temporary cash investments000000$0Dividends, interest, payments with respect to securities loans, annuities, income from notional principal contracts, loan commitment fees, and other substantially similar income from ordinary and routine investments excluded by section 512(b)(1)$66,618$0
Dividends and interest from securities000000$000$0$0
Net rental income or (loss) from real estate
debt-financed property000000$0Income exempt from debt-financed (section 514) provisions because at least 85% of the use of the property is for the organization's exempt purposes (Note: This code is only for income from the 15% or less non-exempt purpose use.) (section 514(b)(1)(A))$-12,044$0
not debt-financed property000000$000$0$0
Net rental income or (loss) from personal property000000$000$0$0
Other investment income000000$000$0$0
Gain or (loss) from sales of assets other than inventory000000$0Gain (or loss, to the extent allowed) from the sale of investments and other non-inventory property and from certain property acquired from financial institutions that are in conservatorship or receivership (sections 512(b)(5) and 512(b)(16)(A))$236$0
Net income or (loss) from special events000000$0Income from an activity that is not regularly carried on (section 512(a)(1))$-9,097$0
Gross profit or (loss) from sales of inventory000000$000$0$0
Other revenue000000$0Income from an activity that is not regularly carried on (section 512(a)(1))$57,271$0
Information Regarding Taxable Subsidiaries and Disregarded Entities (for 2007)
EIN of corporation, partnership, or disregarded entityPercentage of ownership interestTotal incomeEnd-of-year assets
0%$0$0
0%$0$0
0%$0$0
0%$0$0
Compensation of the Five Highest Paid Employees Other Than Officers, Directors, and Trustees (for 2007)
CompensationContributions to employee benefit plans & deferred compensationExpense account and other allowances
$0$0$0
$0$0$0
$0$0$0
$0$0$0
$0$0$0
Total number of other employees paid over $50,0000
Statements About Activities (for 2007)
Expenses paid or incurred in connection with the lobbying activities$0
Did the organization receive or hold an easement for conservation purposes, including easements to preserve open space, the environment, historic land areas or historic structures?No
Did the organization provide credit counseling, debt management, credit repair, or debt negotiation services?No
Did the organization maintain any donor advised funds?No
Did the organization make any taxable distributions under section 4966?No
Did the organization make a distribution to a donor, donor advisor, or related person?No
Enter the total number of donor advised funds owned at the end of the tax year$0
Enter the aggregate value of assets held in all donor advised funds owned at the end of the tax year$0
Enter the total number of separate funds or accounts owned at the end of the tax year (excluding donor advised funds included above) where donors have the right to provide advice on the distribution or investment of amounts in such funds or accounts$0
Enter the aggregate value of assets held in all funds or accounts included above at the end of the tax year$0
Reason for Non-Private Foundation Status
The organization is not a private foundation because it isNot controlled by disqualified persons/supports non private foundation
Type of supporting organization4
Information about the supported organizations
Employer identification number (EIN)Name of organizationType of organizationIs the supported organization listed in the supporting organization's governing documents?Amount of support
061581474Bronx Preparatory Charter SchoolYes$962,738
Total$962,738
Support Schedule
200020012002200420052006
Total$0$0$0$0$0$0
Gifts, grants, and contributions received$0$0$0$0$0$0
Membership fees received$0$0$0$0$0$0
Gross receipts from admissions, merchandise sold or services performed, or furnishing of facilities in any activity that is related to the organization's charitable, etc., purpose$0$0$0$0$0$0
Gross income from interest, dividends, amounts received from payments on securities loans (section 512(a)(5)), rents, royalties, and unrelated business taxable income (less section 511 taxes) from businesses acquired by the organization after June 30, 1975$0$0$0$0$0$0
Net income from unrelated business activities not included above$0$0$0$0$0$0
Tax revenues levied for the organization's benefit and either paid to it or expended on its behalf$0$0$0$0$0$0
The value of services or facilities furnished to the organization by a governmental unit without charge. Do not include the value of services or facilities generally furnished to the public without charge$0$0$0$0$0$0
Other income$0$0$0$0$0$0
Lobbying Expenditures by Electing Public Charities (for 2007)
Total exempt purpose expenditures$0
Total lobbying expenditures$0
Total lobbying expenditures to influence public opinion (grassroots lobbying)$0
Total lobbying expenditures to influence a legislative body (direct lobbying)$0
Other exempt purpose expenditures$0
Lobbying nontaxable amount$0
Grassroots nontaxable amount$0
Statements Regarding Other IRS Filings and Tax Compliance (for 2011)
Did the organization have unrelated business gross income of $1,000 or more during the year?No
Initiation fees and capital contributions$0
Gross receipts for public use of club facilities $0
Gross income from members or shareholders$0
Gross income from other sources$0
Statement of Revenue (for 2011)
Total revenue$251,801
Contributions, Gifts, Grants and Other Similar Amounts$235,048
Program Service Revenue$0
Other Revenue
Investment income (including dividends, interest, and other similar amounts)$4,513
Income from investment of tax-exempt bond proceeds$0
Royalties$0
Net rental income$11,790
Gross rents (Real / Personal)$704,100 / $0
Less: rental expenses (Real / Personal)$692,310 / $0
Rental income or (loss) (Real / Personal)$11,790 / $0
Net gain from sales of assets other than inventory$0
Net income from fundraising events$0
Net income from gaming activities$0
Net income from sales of inventory$0
Miscellaneous Revenue$450
Statement of Functional Expenses (for 2011)
Total functional expenses$390,494
Compensation of current officers, directors, trustees, and key employees$119,321
Other salaries and wages$89,850
Payroll taxes$13,135
Professional fundraising services$0
Other$168,188
Balance Sheet (for 2011)
Total assets$18,864,154
Total liabilities$3,318,342
Tax-exempt bond liabilities$0
Secured mortgages and notes payable to unrelated third parties$3,280,168
Unsecured notes and loans payable to unrelated third parties$0
Other$38,174
Total net assets or fund balances$15,545,812
Retained earnings, endowment, accumulated income, or other funds$0
Reason for Public Charity Status (for 2011)
The organization is not a private foundation because it is:An organization organized and operated exclusively for the benefit of, to perform the functions of, or to carry out the purposes of one or more publicly supported organizations described in section 509(a)(1) or section 509(a)(2)
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Number of organizations performing similar types of work
Alaska19
Alabama45
Arkansas38
Arizona182
California797
Colorado145
Connecticut153
District of Columbia8
Delaware26
Florida250
Georgia162
Hawaii25
Iowa74
Idaho35
Illinois288
Indiana208
Kansas57
Kentucky90
Louisiana31
Massachusetts343
Maryland71
Maine35
Michigan266
Minnesota162
Missouri106
Mississippi29
Montana18
North Carolina236
North Dakota6
Nebraska40
New Hampshire36
New Jersey363
New Mexico37
Nevada30
New York343
Ohio367
Oklahoma44
Oregon132
Pennsylvania263
Rhode Island35
South Carolina103
South Dakota9
Tennessee184
Texas595
Utah18
Virginia164
Vermont27
Washington512
Wisconsin169
West Virginia18
Wyoming5
International6
Total7,405

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