FRIENDS OF NEW WORLD PREP INC

EIN: 832051523 501(c)(3) Education

STATEN ISLAND, NY

Total Revenue
$2,250,120
Total Expenses
$1,311,430
Total Assets
$73,781,458
Net Assets
$14,351,474
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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
NY
Principal Officer
ANGELO APONTE
Phone
7187058990
Tax Period
2023-07-01 to 2024-06-30

FRIENDS OF NEW WORLD PREP INC, founded in 2018, is a community nonprofit in the Education sector that reported $2.3M in total revenue in fiscal year 2023. Revenue fell 62% from the prior year — a significant decline worth monitoring. The organization ran a surplus of $939K, a strong 42% operating margin.

Mission

OUR MISSION IS TO SUPPORT THE EDUCATIONAL PURPOSES OF NEW WORLD PREPARATORY CHARTER SCHOOL BY ACQUIRING, LEASING, CONSTRUCTING, RENOVATING AND MAINTAINING REAL ESTATE AND OTHER FACILITIES FOR THE USE OF THE STUDENTS AND FACULTY OF NEW WORLD PREPARATORY CHARTER SCHOOL. AND BY UNDERTAKING OR FUNDING OTHER ACTIVITIES AND SERVICES THAT ENHANCE, AUGMENT AND COMPLEMENT NEW WORLD PREPARATORY CHARTER SCHOOL'S EDUCATIONAL PROGRAMS AND ACTIVITIES.

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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%)

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Financial Overview (2023)

Revenue Breakdown

Contributions & Grants $0
Program Service Revenue $1,077,426
Investment Income $1,172,694
Other Revenue $0
TOTAL REVENUE $2,250,120

Expense Breakdown

Grants Paid $0
Salaries & Benefits $0
Fundraising Expenses $120,000
Program Expenses $1,118,006
Other Expenses $1,311,430
TOTAL EXPENSES $1,311,430

Year-over-Year Comparison

2023 2022 Change
Revenue $2,250,120 $5,943,807 -0.6%
Expenses $1,311,430 $1,052,944 +0.2%
Net Income $938,690 $4,890,863 -0.8%
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

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Governance

Voting Members
5
Independent Members
5
Employees
N/A
Volunteers
5

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
4
$0
Total Directors
5
$0
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
ANGELO APONTE Treasurer 1.00
Officer Director
$0 $0 $0
TERRY TROIA Secretary 0.50
Officer Director
$0 $0 $0
HENRY SALMON Trustee 0.50
Director
$0 $0 $0
COLLEEN SORRENTINO BOARD PRESIDENT 0.50
Officer Director
$0 $0 $0
LARRY MIRALDI Vice President 0.50
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 $2,250,120 $1,311,430 $73,781,458 $938,690
2023 $5,943,807 $1,052,944 $71,541,177 $4,890,863
2022 $4,092,380 $103,780 $66,670,232 $3,988,600
2021 $4,247,091 $44,172 $64,103,072 $4,202,919
2020 $375,000 $44,598 $4,723,539 $330,402
2019 No data No data $3,690,715 No data
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