FRIENDS OF PROSPECT SCHOOLS NY INC

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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

2018

Legal Domicile

Principal Officer

DANIEL RUBENSTEIN

Phone

7186431086

Tax Period

2023-07-01 to 2024-06-30

FRIENDS OF PROSPECT SCHOOLS NY INC, founded in 2018, is a mid-sized nonprofit in the Education sector that reported $17.0M in total revenue in fiscal year 2023. Revenue surged 25% from the prior year, signaling strong growth momentum.

Mission

TO SUPPORT THE OPERATIONS OF BROOKLYN PROSPECT CHARTER SCHOOL (THE "SCHOOL") BY MANAGING THE SCHOOL'S REAL ESTATE AND FACILITIES-RELATED NEEDS, AND BY RAISING FUNDS AND RESOURCES THAT WILL ENABLE THE ORGANIZATION TO PROVIDE SUPPORT TO THE SCHOOL AND TO ENHANCE THE EXPERIENCE OF THE SCHOOL'S STUDENTS.

Program Service Accomplishments

Program 1

Expenses: $16,563,473 Revenue: $17,047,837

FRIENDS OF PROSPECT SCHOOLS NY, INC. IS A NOT-FOR-PROFIT CORPORATION INCORPORATED IN NEW YORK STATE ON APRIL 9, 2018. THE ORGANIZATION SUPPORTS THE OPERATIONS OF BROOKLYN PROSPECT CHARTER SCHOOL, AN EDUCATIONAL CORPORATION THAT OPERATES THREE CHARTER SCHOOLS IN THE BOROUGH OF BROOKLYN, NY. FRIENDS OF PROSPECT SCHOOLS NY SUBLEASES FACILITIES TO THE SCHOOL. RENTAL INCOME UNDER THE SUBLEASES AMOUNTED TO $16,834,146 DURING THE FISCAL YEAR.

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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 $0

Program Service Revenue $17,047,837

Investment Income $9

Other Revenue $0

TOTAL REVENUE $17,047,846

Expense Breakdown

Grants Paid $0

Salaries & Benefits $0

Fundraising Expenses $0

Program Expenses $16,563,473

Other Expenses $17,179,816

TOTAL EXPENSES $17,179,816

Year-over-Year Comparison

	2023	2022	Change
Revenue	$17,047,846	$13,587,814	+0.3%
Expenses	$17,179,816	$14,007,769	+0.2%
Net Income	$-131,970	$-419,955	-0.7%

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

N/A

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

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
DANIEL RUBENSTEIN	CHAIR	1.00	Officer Director	$0	$0	$0
DAVID VON SPRECKELSEN	SECRETARY	1.00	Officer Director	$0	$0	$0
CHRISTINA DE ROSE	TREASURER	1.00	Officer Director	$0	$0	$0

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	$17,047,846	$17,179,816	$200,264,507	$-131,970
2023	$14,921,814	$13,903,341	$170,940,643	$1,018,473
2023	$13,587,814	$14,007,769	$173,033,319	$-419,955
2022	$8,522,248	$8,619,471	$4,585,951	$-97,223
2021	$6,161,838	$5,427,807	$3,486,838	$734,031
2020	$6,132,634	$5,120,709	$1,467,531	$1,011,925
2019	$1,965,042	$1,616,221	$373,675	$348,821