Reach Prep Inc
- Assets
- $4.0m
- Revenue
- $1.6m
- Investments
- $0.0
- Employees
- 22
- Location
- Stamford, CT
- Founding
- 04/1996
- Data as of
- 06/2021
- EIN
- 06-1438889
Organization Overview
Reach Prep Inc is located in Stamford, CT. The organization was established in 1996. According to its NTEE Classification (B99) the organization is classified as: Education N.E.C., under the broad grouping of Education and related organizations. As of 06/2021, Reach Prep Inc employed 22 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Reach Prep Inc is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 06/2021, Reach Prep Inc generated $1.6m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 6 years, the organization has seen revenues fall by an average of (3.9%) each year. All expenses for the organization totaled $2.0m during the year ending 06/2021. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
PROVIDE TRANSFORMATIVE EDUCATIONAL EXPERIENCES THAT EMPOWER UNDERSERVED STUDENTS
Describe the Organization's Program Activity:
Part 3 - Line 4a
MIDDLE, HIGH SCHOOL, AND COLLEGE PROGRAMS AND SERVICES (SEE SCHEDULE O):
ADMISSION AND PREP ACADEMY PROGRAM (SEE SCHEDULE O):
SUMMER OPPORTUNITIES (SEE SCHEDULE O):
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Gina Lucas Chief Executive Officer | Officer | 40 | $186,840 |
Lynn Sorensen Director Of Education | 40 | $128,616 | |
Rosa Ortiz Deputy Director | 40 | $104,936 | |
Paul L Triggiani Chair | OfficerTrustee | 2 | $0 |
Stephen Toy Treasurer | OfficerTrustee | 2 | $0 |
Judith Collins Secretary | OfficerTrustee | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $475,667 |
| Related organizations | $0 |
| Government grants | $221,100 |
| All other contributions, gifts, grants, and similar amounts not included above | $979,844 |
| Noncash contributions included in lines 1a–1f | $59,639 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,676,611 |
| Total Program Service Revenue | $0 |
| Investment income | $32,827 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$133,728 |
| Net Income from Fundraising Events | $9,324 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,585,034 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $213,000 |
| Compensation of current officers, directors, key employees. | $11,875 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $931,346 |
| Pension plan accruals and contributions | $42,409 |
| Other employee benefits | $49,803 |
| Payroll taxes | $90,178 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $842 |
| Fees for services: Accounting | $17,458 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $21,000 |
| Fees for services: Investment Management | $7,763 |
| Fees for services: Other | $1,520 |
| Advertising and promotion | $0 |
| Office expenses | $35,496 |
| Information technology | $36,117 |
| Royalties | $0 |
| Occupancy | $193,979 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $8,219 |
| Insurance | $0 |
| All other expenses | $0 |
| Total functional expenses | $2,006,826 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $468,283 |
| Savings and temporary cash investments | $1,164,719 |
| Pledges and grants receivable | $155,748 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $6,752 |
| Net Land, buildings, and equipment | $13,528 |
| Investments—publicly traded securities | $2,161,624 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $18,961 |
| Total assets | $3,989,615 |
| Accounts payable and accrued expenses | $113,080 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $235,862 |
| Total liabilities | $348,942 |
| Net assets without donor restrictions | $2,720,073 |
| Net assets with donor restrictions | $920,600 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $3,989,615 |
Grants Recieved
Over the last fiscal year, we have identified 2 grants that Reach Prep Inc has recieved totaling $35,000.
| Awarding Organization | Amount |
|---|---|
Skk Foundation Inc Atlanta, GA PURPOSE: GENERAL OPERATING SUPPORT | $25,000 |
Niner Foundation Inc Jackson, WY PURPOSE: SUPPORT OF ORGANIZATION | $10,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
John A Coleman School Yonkers, NY | $5,649,439 | $19,245,814 |
Halo Network Inc Amityville, NY | $5,984,377 | $20,823,404 |
Ascend Learning Inc Brooklyn, NY | $10,949,837 | $20,246,927 |
Pike School Inc Andover, MA | $31,746,911 | $18,230,890 |
Workforce Development Corp New York, NY | $20,852,099 | $12,566,315 |
International School Of Brooklyn Brooklyn, NY | $6,521,944 | $15,095,239 |
Watershed Agricultural Council Of The New York City Watersheds Inc Walton, NY | $8,601,609 | $14,819,769 |
North Atlantic States Carpenters Labor Management Program Boston, MA | $29,841,142 | $12,688,057 |
Purpose Foundation Island Park, NY | $1,585,866 | $11,041,724 |
Together Education Inc New York, NY | $57,079,543 | $31,828,853 |
St Stephens School Corporation New York, NY | $22,745,119 | $12,506,958 |
Aids Community Resources Syracuse, NY | $5,910,589 | $11,647,992 |