PREP FOR PREP

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Financial Vulnerability Assessment (Tuckman-Chang)

4 risk indicators measuring financial stability and operational resilience

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Financial Trends

Organization Details

Formation Year

1968

Legal Domicile

Principal Officer

RUTH JURGENSEN

Phone

2125791390

Tax Period

2023-07-01 to 2024-06-30

PREP FOR PREP, founded in 1968, is a mid-sized nonprofit in the Education sector that reported $14.4M in total revenue in fiscal year 2023. Revenue decreased 13% compared to the prior year. Net assets of $62.0M represent 52 months of operating reserves.

Mission

PREP FOR PREP'S MISSION IS TO DEVELOP FUTURE LEADERS BY CREATING ACCESS FOR YOUNG PEOPLE OF COLOR TO FIRST-RATE EDUCATIONAL, LEADERSHIP DEVELOPMENT AND PROFESSIONAL ADVANCEMENT OPPORTUNITIES.

Program Service Accomplishments

Program 1

Expenses: $4,613,987

PREPARATORY PROGRAMS : PREP REDEFINES OPPORTUNITY FOR TOP STUDENTS OF COLOR IN NYC PUBLIC SCHOOLS THROUGH EXCEPTIONAL ACADEMIC AND SOCIAL PREPAREDNESS PROGRAMMINGA RIGOROUS 14-MONTH COURSE OF...

PREPARATORY PROGRAMS : PREP REDEFINES OPPORTUNITY FOR TOP STUDENTS OF COLOR IN NYC PUBLIC SCHOOLS THROUGH EXCEPTIONAL ACADEMIC AND SOCIAL PREPAREDNESS PROGRAMMINGA RIGOROUS 14-MONTH COURSE OF STUDYTHAT RESULTS IN PLACING APPROXIMATELY 200 STUDENTS ANNUALLY IN LEADING NYC INDEPENDENT SCHOOLS (IN 7TH GRADE) AND NORTHEASTERN BOARDING SCHOOLS (IN 9TH GRADE). OUR ORGANIZATIONAL BUDGET INVESTMENT IN OUR STUDENTS LEVERAGES ROUGHLY $35 MILLION IN FINANCIAL AID FOR OVER 700 STUDENTS (GRADES 7-12) ANNUALLY COMMITTED BY OUR PARTNER SCHOOLS TO MEET STUDENTS' NEEDS BASED ON FAMILY HOUSEHOLD INCOME.

Program 2

Expenses: $3,811,358

COUNSELING: PREP PROVIDES INDIVIDUAL COUNSELING FOR APPROXIMATELY 700 STUDENTS ANNUALLY THROUGHOUT THEIR TIME (RANGING FROM 4-6 YEARS) IN INDEPENDENT DAY AND BOARDING SCHOOLS. OUR COUNSELING TEAM...

COUNSELING: PREP PROVIDES INDIVIDUAL COUNSELING FOR APPROXIMATELY 700 STUDENTS ANNUALLY THROUGHOUT THEIR TIME (RANGING FROM 4-6 YEARS) IN INDEPENDENT DAY AND BOARDING SCHOOLS. OUR COUNSELING TEAM MONITORS STUDENTS' ACADEMIC AND SOCIAL-EMOTIONAL PROGRESS AND PROVIDES ASSISTANCE, INCLUDING TUTORING AND EMERGENCY FUND SUPPORT, TO STUDENTS AND THEIR FAMILIES AS NEEDED. THE TEAM WORKS TO EQUIP STUDENTS, WHO ARE ALSO NAVIGATING ADOLESCENCE, TO ADDRESS ISSUES RANGING FROM IMPOSTER SYNDROME TO MICRO-AGGRESSIONS; FROM PERFECTIONISM TO ANXIETY AND DEPRESSION; FROM CULTURAL DIVIDES TO ASSIMILATION AND GENDER IDENTITY. SERVICES AND SUPPORT ARE ALSO MADE AVAILABLE TO APPROXIMATELY 600 COLLEGE STUDENTS ANNUALLY THROUGH OUR UNDERGRADUATE AFFAIRS TEAM.

Program 3

Expenses: $2,805,619

LEADERSHIP DEVELOPMENT: PREP OFFERS LEADERSHIP DEVELOPMENT AND PROFESSIONAL ADVANCEMENT OPPORTUNITIES DURING HIGH SCHOOL AND COLLEGE TO ROUGHLY 1,300 STUDENTS ANNUALLY. ACTIVITIES INCLUDE: SLEEP-AWAY CAMP; A PREP-SOTHEBY'S PARTNERSHIP FOR OUR SUMMER ARTS ACADEMY; A PREP-GOOGLE PARTNERSHIP FOR OUR INSTITUTE FOR ENTREPRENEURSHIP (IFE); A NEW ENTREPRENEURSHIP CAMP FOR MIDDLE SCHOOL STUDENTS; COLLEGE GUIDANCE (INCLUDING CAMPUS VISITS); STUDENT LEADERSHIP RETREATS; SUMMER INTERNSHIPS AND CAREER SEMINARS WITH LEADING FIRMS, COMPANIES, NONPROFITS, AND PUBLIC SERVICE AGENCIES; EXPOSURE TO STEM FIELDS AND COMPUTER CODING; TRAVEL ABROAD, INTERNATIONAL LIVING, AND EXPERIENTIAL LEARNING; AND OTHER PROGRAMS AIMED AT EXPANDING STUDENT HORIZONS. THESE OPPORTUNITIES INCREASE STUDENTS' SENSE OF BELONGING, BROADEN UNDERSTANDING OF LIFE'S POSSIBILITIES, AND BUILD A STRONGER SELF-IDENTITY.

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Trantor Score

Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

Financial Overview (2023)

Revenue Breakdown

Contributions & Grants $10,783,843

Program Service Revenue $0

Investment Income $3,610,823

Other Revenue $5,159

TOTAL REVENUE $14,399,825

Expense Breakdown

Grants Paid $0

Salaries & Benefits $9,909,848

Fundraising Expenses $542,479

Program Expenses $13,140,273

Other Expenses $5,550,440

TOTAL EXPENSES $15,460,288

Year-over-Year Comparison

	2023	2022	Change
Revenue	$14,399,825	$16,518,747	-0.1%
Expenses	$15,460,288	$14,880,016	+0.0%
Net Income	$-1,060,463	$1,638,731	-1.6%

Key Indicators

✗ Grants to Organizations ✗ Grants to Individuals ✗ Lobbying ✗ Political Activity ✗ Foreign Activities ✗ Donor Advised Fund ✓ Schedule B Required

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Financial Health Indicators

Comprehensive financial analysis: Altman Z-Score, liquidity, solvency, sustainability, efficiency, and growth metrics

Financial Distress Indicator

Liquidity & Cash Position

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Altman Z-Score • Liquidity Ratios • Solvency Analysis • Growth Indicators • Efficiency Metrics

Governance

Voting Members

Independent Members

Employees

241

Volunteers

420

Governance Policies

✓ Conflict of Interest Policy

✓ Whistleblower Policy

✓ Document Retention Policy

Special Practices & Reported Activities

✗ Operated a School

✗ Operated a Hospital

✗ Provided First Class Travel

⚠ Reported Conflict of Interest

✗ Reported Asset Diversion

✗ Excess Benefit Transaction

✗ Made Political Expenditures

✗ Engaged in Lobbying

✗ Operated Donor Advised Fund

✗ Maintained Art Collections

✗ Filed Form 720

Compensation of Officers, Directors & Key Employees

Total Officers

$990,344

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
MARTIN LIPTON	CHAIR EMERITUS (NONVOTING)	1.00	Director	$0	$0	$0
JOHN L VOGELSTEIN	CHAIR EMERITUS (NONVOTING)	1.00	Director	$0	$0	$0
SCOTT L BOK	CHAIR EMERITUS	1.00	Director	$0	$0	$0
LISA SMITH CASHIN	CHAIR	1.00	Director	$0	$0	$0
YAHONNES CLEARY	PRESIDENT	1.00	Director	$0	$0	$0
CHRISTOPHER JAMES	PRESIDENT	1.00	Director	$0	$0	$0
SUE MENG	EXECUTIVE VICE PRESIDENT & SECRETARY	1.00	Director	$0	$0	$0
DANIEL M NEIDICH	EXECUTIVE VICE PRESIDENT	1.00	Director	$0	$0	$0
FRANK K BYNUM JR	VICE PRESIDENT	1.00	Director	$0	$0	$0
MARGARET MUNZER LOEB	VICE PRESIDENT	1.00	Director	$0	$0	$0
KENNETH CAPLAN	VICE PRESIDENT	1.00	Director	$0	$0	$0
JOHN H HALL ESQ	VICE PRESIDENT	1.00	Director	$0	$0	$0
NATALIE SWABY HUTCHINSON	VICE PRESIDENT	1.00	Director	$0	$0	$0
NICOLE ARNABOLDI	VICE PRESIDENT	1.00	Director	$0	$0	$0
CHRISTOPHER ORTEGA	VICE PRESIDENT	1.00	Director	$0	$0	$0
PETER ANZALONE	VICE PRESIDENT & TREASURER	1.00	Director	$0	$0	$0
RICHARD D'ALBERT	VICE PRESIDENT & ASSISTANT TREASURER	1.00	Director	$0	$0	$0
JOHN ALLMAN	TRUSTEE, EX-OFFICIO	1.00	Director	$0	$0	$0
DALE ALLSOPP	TRUSTEE	1.00	Director	$0	$0	$0
CONOR BASTABLE	TRUSTEE	1.00	Director	$0	$0	$0
ANSON H BEARD	TRUSTEE	1.00	Director	$0	$0	$0
JORGE CALDERON	TRUSTEE	1.00	Director	$0	$0	$0
ALEX CLAVEL	TRUSTEE	1.00	Director	$0	$0	$0
DIOGENES BRITO	CEO	1.00	Director	$0	$0	$0
KATHRYN M DEANE	TRUSTEE	1.00	Director	$0	$0	$0
JAMES P DEMARE	TRUSTEE	1.00	Director	$0	$0	$0
ERIC DERFNER	TRUSTEE	1.00	Director	$0	$0	$0
PASCAL DESROCHES	TRUSTEE	1.00	Director	$0	$0	$0
ALEXANDER R EDLICH	TRUSTEE	1.00	Director	$0	$0	$0
PATRICIA FARMAN-FARMAIAN	TRUSTEE	1.00	Director	$0	$0	$0
KEVIN FERRO	TRUSTEE	1.00	Director	$0	$0	$0
KAREEM COOK	TRUSTEE	1.00	Director	$0	$0	$0
CARL D HARNICK	TRUSTEE	1.00	Director	$0	$0	$0
FRANCIS IDEHEN	TRUSTEE	1.00	Director	$0	$0	$0
JAMES R MAHER	TRUSTEE	1.00	Director	$0	$0	$0
ERIC A ROTHFELD	TRUSTEE	1.00	Director	$0	$0	$0
ANTHONY KIM	TRUSTEE	1.00	Director	$0	$0	$0
ROBIN KRASNY	TRUSTEE	1.00	Director	$0	$0	$0
LAURENCE C LEEDS JR	TRUSTEE	1.00	Director	$0	$0	$0
FRANK J LOVERRO	TRUSTEE	1.00	Director	$0	$0	$0
R TYLER MORSE	TRUSTEE	1.00	Director	$0	$0	$0
JEANNEMARIE O'BRIEN	TRUSTEE	1.00	Director	$0	$0	$0
SANDY OSBORNE	TRUSTEE	1.00	Director	$0	$0	$0
LISSA PERLMAN	TRUSTEE	1.00	Director	$0	$0	$0
TREVOR PRICE	TRUSTEE	1.00	Director	$0	$0	$0
RICHARD SCHAPS	TRUSTEE	1.00	Director	$0	$0	$0
WILLIAM A SHUTZER	TRUSTEE	1.00	Director	$0	$0	$0
PEG SULLIVAN	TRUSTEE	1.00	Director	$0	$0	$0
MICHAEL WEST	TRUSTEE	1.00	Director	$0	$0	$0
ANITA VOLZ WIEN	TRUSTEE	1.00	Director	$0	$0	$0
BRIAN C WILLE	TRUSTEE	1.00	Director	$0	$0	$0
KARESSA L CAIN	TRUSTEE	1.00	Director	$0	$0	$0
KEVIN OTERO XII	TRUSTEE	1.00	Director	$0	$0	$0
EVAN SCHWARTZBERG	TRUSTEE	1.00	Director	$0	$0	$0
MELANIE DOW UNTIL 63024	TRUSTEE	1.00	Director	$0	$0	$0
PARISA JAFFER	TRUSTEE	1.00	Director	$0	$0	$0
MEDHI MAHMUD UNTIL 63024	TRUSTEE	1.00	Director	$0	$0	$0
DUSTY PHILIP	TRUSTEE	1.00	Director	$0	$0	$0
NANCY REYES	TRUSTEE	1.00	Director	$0	$0	$0
ARUN ALAGAPPAN	TRUSTEE	1.00	Director	$0	$0	$0
CATHERINE COLE	TRUSTEE	1.00	Director	$0	$0	$0
LORENCE KIM	TRUSTEE	1.00	Director	$0	$0	$0
JULIAN LIAU	TRUSTEE	1.00	Director	$0	$0	$0
RAQUEL ODEN UNTIL 93023	TRUSTEE	1.00	Director	$0	$0	$0
CHARLES F STEWART	TRUSTEE	1.00	Director	$0	$0	$0
NYSSA FAJARDOO LEE	TRUSTEE	1.00	Director	$0	$0	$0
MICHAEL MITCHELL	TRUSTEE	1.00	Director	$0	$0	$0
MARIAMA N' DIAYE	TRUSTEE	1.00	Director	$0	$0	$0
JOSEPH PABON	TRUSTEE	1.00	Director	$0	$0	$0
DANTE PEARSON	TRUSTEE	1.00	Director	$0	$0	$0
MO SAKURAI	TRUSTEE	1.00	Director	$0	$0	$0
DAVID GREENBERG	TRUSTEE	1.00	Director	$0	$0	$0
VAUGHN CALDON	TRUSTEE	1.00	Director	$0	$0	$0
ISOLDE BRIELMAIER FROM 101723	TRUSTEE	1.00	Director	$0	$0	$0
JOCELYN GAILLIOT FROM 101723	TRUSTEE	1.00	Director	$0	$0	$0
NICOLE LEVIN MESARD FROM 101723	TRUSTEE	1.00	Director	$0	$0	$0
ARTHUR MAGNUS FROM 011624	TRUSTEE	1.00	Director	$0	$0	$0
NNAMDI ORAKWUEVII FROM 101723	TRUSTEE	1.00	Director	$0	$0	$0
KEVIN SCHWARTZ FROM 011624	TRUSTEE	1.00	Director	$0	$0	$0
JOHNNY SKUMPUA FROM 07123	TRUSTEE	1.00	Director	$0	$0	$0
RUTH JURGENSEN	CHIEF EXECUTIVE OFFICER	40.00	Officer	$409,429	$23,990	$433,419
JACKSON COLLINS	EXECUTIVE DIRECTOR	40.00	Officer	$266,642	$28,347	$294,989
SHARON MADISON	CHIEF OPERATING OFFICER	40.00	Officer	$234,206	$27,730	$261,936
NIKOLE SMITH	DIRECTOR OF ACADEMIC PROGRAM	40.00	Highest	$191,996	$30,161	$222,157
JOHANNA RODRIGUEZ	DIRECTOR OF ADMISSIONS	40.00	Highest	$184,937	$25,227	$210,164
CINDY PEREZ	DIRECTOR OF LEADERSHIP DEV	40.00	Highest	$166,670	$29,368	$196,038
REBECCA ERVEY	DIRECTOR OF DEVELOPMENT AN	40.00	Highest	$218,075	$22,126	$240,201
ROBERTA OSORIO FROM 07122	DIRECTOR POST PLACEMENT COUNSELING	40.00	Highest	$172,701	$10,985	$183,686

Note: Compensation data is self-reported by the organization on their Form 990. "Reportable Comp" includes salary, bonuses, and other reportable compensation from the organization and related organizations. "Other Comp" includes benefits, deferred compensation, and non-taxable benefits.

Historical Data

Year	Revenue	Expenses	Assets	Net Income
2025	No data	No data	No data	No data
2024	$14,399,825	$15,460,288	$63,219,416	$-1,060,463
2023	$16,518,747	$14,880,016	$62,950,296	$1,638,731
2022	$10,691,357	$12,199,010	$57,748,705	$-1,507,653
2021	$11,458,262	$10,865,077	$67,702,952	$593,185
2020	$9,132,318	$12,286,315	$56,649,003	$-3,153,997
2019	$8,698,497	$12,388,833	$60,402,689	$-3,690,336