CHALLENGE PREPARATORY CHARTER SCHO… - Form 990 Financial Data

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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

2010

Legal Domicile

Principal Officer

DR LESLIE MULLINGS

Phone

7183271352

Tax Period

2024-07-01 to 2025-06-30

CHALLENGE PREPARATORY CHARTER SCHOOL, founded in 2010, is a mid-sized nonprofit in the Education sector that reported $29.6M in total revenue in fiscal year 2024.

Mission

TO PREPARE STUDENTS FROM THE GREATER FAR ROCKAWAY AREA OF NEW YORK CITY TO EXCEL ACADEMICALLY, TO DEMONSTRATE MASTERY OF THE NEW YORK STATE AND COMMON CORE LEARNING STANDARDS, AND TO ACHIEVE THEIR CAREER ASPIRATIONS.

Program Service Accomplishments

Program 1

Expenses: $28,870,761 Revenue: $28,251,902

THE MISSION OF CHALLENGE PREPARATORY CHARTER SCHOOL (CHALLENGE) IS TO PREPARE STUDENTS FROM THE GREATER FAR ROCKAWAY COMMUNITY TO EXCEL ACADEMICALLY, TO DEMONSTRATE MASTERY OF THE NYS AND NEXT...

THE MISSION OF CHALLENGE PREPARATORY CHARTER SCHOOL (CHALLENGE) IS TO PREPARE STUDENTS FROM THE GREATER FAR ROCKAWAY COMMUNITY TO EXCEL ACADEMICALLY, TO DEMONSTRATE MASTERY OF THE NYS AND NEXT GENERATION LEARNING STANDARDS AND TO ACHIEVE THEIR CAREER ASPIRATIONS. CHALLENGE CULTIVATES AND SUPPORTS THE INTELLECTUAL, AESTHETIC, SOCIAL, EMOTIONAL AND ETHICAL DEVELOPMENT OF ITS STUDENTS AND PREPARES THEM TO BE RESPONSIBLE 21ST CENTURY CITIZENS. TO ACCOMPLISH ITS MISSION, CHALLENGE OFFERS A RIGOROUS INSTRUCTIONAL PROGRAM IN A SAFE, SUPPORTIVE, TECHNOLOGY-INFUSED AND DATA-ENRICHED SCHOOL ENVIRONMENT.SINCE 2010, CHALLENGE PREPARATORY CHARTER SCHOOL HAS SERVED FAMILIES IN FAR ROCKAWAY, NY OFFERING EXCELLENCE IN EDUCATION IN A SUPPORTIVE AND RIGOROUS LEARNING ENVIRONMENT. WE ARE THE ONLY SCHOOL ON THE PENINSULA TO OFFER KINDERGARTEN THROUGH EARLY COLLEGE EDUCATION. FOR THE 2024-2025 SCHOOL YEAR, THE SCHOOL SERVED APPROXIMATELY 1,194 STUDENTS IN GRADES KINDERGARTEN TO 12TH.

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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 (2024)

Revenue Breakdown

Contributions & Grants $1,264,503

Program Service Revenue $28,251,902

Investment Income $47,665

Other Revenue $11,952

TOTAL REVENUE $29,576,022

Expense Breakdown

Grants Paid $0

Salaries & Benefits $18,242,419

Fundraising Expenses $68,019

Program Expenses $28,870,761

Other Expenses $13,793,353

TOTAL EXPENSES $32,050,945

Year-over-Year Comparison

	2024	2023	Change
Revenue	$29,576,022	$29,515,217	+0.0%
Expenses	$32,050,945	$30,682,199	+0.0%
Net Income	$-2,474,923	$-1,166,982	+1.1%

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

246

Volunteers

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

$512,993

Total Directors

Key Employees

$738,205

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
FREDERICA JEFFRIES	CHAIR	1.00	Officer Director	$0	$0	$0
ANDREW BARNES III	VICE-CHAIR	0.50	Officer Director	$0	$0	$0
LINDA PLUMMER	TREASURER	1.00	Officer Director	$0	$0	$0
KARON MCFARLANE	SECRETARY	1.00	Officer Director	$0	$0	$0
DR MICHELLE DANIEL-ROBERTSON	TRUSTEE	0.50	Director	$0	$0	$0
GERTRUDIS HERNANDEZ	TRUSTEE	0.50	Director	$0	$0	$0
BEN WAXMAN	TRUSTEE	0.50	Director	$0	$0	$0
DR LESLIE MULLINGS	CEO/FOUNDER	50.00	Officer	$272,907	$48,793	$321,700
DONNA WEBSTER	DIRECTOR OF FINANCE	40.00	Officer	$158,405	$32,888	$191,293
MAVGAR MONDESIR-GORDON	SR. DIRECTOR, TEACHING & LEARNING	50.00	Key Emp	$289,265	$40,644	$329,909
KENTIA COREUS	SR. DIRECTOR, TEACHING & LEARNING	50.00	Key Emp	$209,340	$34,191	$243,531
TAMEEKA RICHARDS DIRECTOR OF	PUPIL PERSONNEL SERVICES	40.00	Key Emp	$159,183	$5,582	$164,765
GASNER VIL	PRINCIPAL	50.00	Highest	$152,668	$29,170	$181,838
SHEILA LYLE	ASSISTANT PRINCIPAL	40.00	Highest	$133,801	$31,400	$165,201
HUMMA QURESHI	ASSISTANT PRINCIPAL	40.00	Highest	$175,144	$23,301	$198,445
VALENCIA KIRNON	ASSISTANT PRINCIPAL	40.00	Highest	$140,705	$15,978	$156,683
JACQUELINE WARD-BREW	ASSISTANT PRINCIPAL	40.00	Highest	$136,543	$19,385	$155,928

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	$29,576,022	$32,050,945	$90,594,036	$-2,474,923
2024	$29,515,217	$30,682,199	$94,813,006	$-1,166,982
2023	$27,091,306	$28,743,800	$104,697,339	$-1,652,494
2022	$22,900,061	$25,944,095	$6,794,762	$-3,044,034
2021	$17,577,725	$15,960,291	$9,906,286	$1,617,434
2020	$16,296,082	$15,096,813	$7,533,339	$1,199,269
2019	$14,786,659	$15,235,832	$4,313,830	$-449,173

CHALLENGE PREPARATORY CHARTER SCHOOL