2025-11-12T12:11:57-06:00 2025-06-30 331374517 PKF O'CONNOR DAVIES ADVISORY LLC 500 MAMARONECK AVENUE SUITE 301 HARRISON NY 105281633 990 2024-07-01 131635277 PROFESSIONAL CHILDRENS SCHOOL INC PROF 2125823116 132 WEST 60TH STREET NEW YORK NY 10023 JAMES DAWSON HEAD OF SCHOOL 2125823116 2025-11-12 1 1 GARRETT M HIGGINS P00543209 9143818900 2025-11-11 2024 2025-03-06 01:10:19Z JAMES DAWSON 132 WEST 60TH STREET NEW YORK NY 10023 16938262 0 X WWW.PCS-NYC.ORG X 1914 NY TO PROVIDE A CHALLENGING AND ENGAGING COLLEGE PREPARATORY PROGRAM FOR BUSY ARTISTS, ATHLETES AND OTHER YOUNG PEOPLE WHO ARE SERIOUS ABOUT THEIR STUDIES. 19 18 50 22 0 0 1299471 1446816 5897304 5941352 129706 803107 8530 2651 7335011 8193926 1448695 1454696 0 0 5527435 4669083 0 0 532813 2120188 2184384 9096318 8308163 -1761307 -114237 17608518 17200844 6199404 6058776 11409114 11142068 X THE MISSION OF PROFESSIONAL CHILDREN'S SCHOOL IS TO PROVIDE A CHALLENGING ACADEMIC EDUCATION FOR YOUNG PEOPLE WORKING IN OR STUDYING FOR CAREERS IN THE PERFORMING AND VISUAL ARTS, COMPETITIVE SPORTS AND OTHER ENDEAVORS; TO MEET THE DIVERSE NEEDS OF OUR STUDENTS; PROVIDE MASTERY OF FUNDAMENTAL SKILLS AND PREPARE THEM FOR COLLEGE OR OTHER POST-SECONDARY EDUCATION; TO TEACH YOUNG PEOPLE TO BALANCE THE DEMANDS OF THEIR PROFESSIONAL, PERSONAL AND ACADEMIC LIVES; TO PROVIDE SUPPORT FOR YOUNG PEOPLE WHO MUST OFTEN CONTEND WITH THE PRESSURES OF THE ADULT WORLD IN ADDITION TO THE NORMAL PRESSURES OF ADOLESCENCE; TO ENCOURAGE YOUNG PEOPLE TO RESPECT OTHERS OF DIVERSE ETHNIC, RACIAL, ECONOMIC, GEOGRAPHIC AND ARTISTIC BACKGROUNDS; TO BALANCE THEIR INDIVIDUAL NEEDS WITH THE NEEDS OF OTHERS AND TO ACCEPT RESPONSIBILITY FOR THEIR DECISIONS; TO FOSTER A COMMUNITY IN WHICH BOTH ACADEMIC AND ARTISTIC PURSUITS ARE VALUED. 0 0 6287364 1454696 5941352 PROFESSIONAL CHILDREN'S SCHOOL IS AN INDEPENDENT COEDUCATIONAL DAY SCHOOL FOR STUDENTS IN GRADES 4 THROUGH 12 WHO ARE PREPARING FOR OR ARE ALREADY PURSUING CAREERS IN THE PERFORMING ARTS, ENTERTAINMENT OR COMPETITIVE SPORTS, OR WHO ARE DRAWN TO A CREATIVE ENVIORNMENT SUPPORTIVE OF THE ARTS. THE SCHOOL ENROLLS APPROXIMATELY 125 STUDENTS AND GRADUATED 20 STUDENTS IN 2024. 6287364 1 1 0 0 0 0 0 0 0 1 1 0 0 0 1 1 1 0 1 0 0 0 0 0 1 0 0 0 1 1 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 12 0 50 1 0 0 0 0 0 1 1 0 0 0 0 0 0 X 19 18 0 0 0 0 0 0 0 1 1 0 0 0 1 1 1 1 1 1 0 0 X PAUL KANE 2125823116 132 WEST 60TH STREET NEW YORK NY 10023 JAMES DAWSON HEAD OF SCHOOL 40.00 X X 447807 0 54997 MELANIE HARRIS CHAIR 1.00 X X 0 0 0 STEPHANIE J HULL TREASURER 1.00 X X 0 0 0 ERIN SCANLON TRUSTEE THRU AUG 2024), SECRETARY AFTER 1.00 X X 0 0 0 DIANE KENNEY SECRETARY (THRU AUG 2024) 1.00 X X 0 0 0 AMANDA BHALLA TRUSTEE 0.50 X 0 0 0 DONALD B BRANT JR TRUSTEE 0.50 X 0 0 0 MARIAN BROWN TRUSTEE 0.50 X 0 0 0 ANTHONY ROTH COSTANZO TRUSTEE 0.30 X 0 0 0 ISAAC S GREANEY TRUSTEE 0.50 X 0 0 0 ALYSSA GRIKSCHEIT TRUSTEE 0.50 X 0 0 0 SONJA KOSTICH TRUSTEE (THRU AUG 2024) 0.30 X 0 0 0 ROBERT LAUDER TRUSTEE 0.30 X 0 0 0 ELEENA MELAMUD TRUSTEE 0.50 X 0 0 0 BOB MUSIKER TRUSTEE 0.30 X 0 0 0 ERICA MARKS PANUSH TRUSTEE 0.50 X 0 0 0 SONYA SCHROEDER TRUSTEE 0.50 X 0 0 0 MELISSA VLAK TRUSTEE 0.50 X 0 0 0 JASON WEINBERG TRUSTEE 0.50 X 0 0 0 BARBARA WOOD TRUSTEE 0.50 X 0 0 0 SIMONE ZEKO TRUSTEE 0.50 X 0 0 0 PAUL Q KANE DIRECTOR OF FINANCE 55.00 X 228486 0 28823 SARAH RUTLEDGE HEAD OF UPPER SCHOOL 40.00 X 191770 0 4804 REEM ABU-AMARA DIRECTOR OF TECHNOLOGY 40.00 X 175055 0 22711 WILLIAM HIRT DIRECTOR OF COLLEGE COUNSELING 40.00 X 171653 0 22208 LORI MURPHY DIRECTOR OF ADMISSIONS 40.00 X 138472 0 42282 DANIA LAWRO HEAD OF MIDDLE SCHOOL 40.00 X 137273 0 21022 1490516 0 196847 15 0 1 0 FLIKCOMPASS GROUP USA PO BOX 417632 BOSTON MA 022417632 FOOD SERVICE 396974 1 150160 218936 1077720 8221 1446816 TUITION AND FEES 611600 5937332 5937332 AUXILIARY INCOME 611600 4020 4020 5941352 312692 312692 58379 24021 34358 34358 34358 9145921 8655506 490415 490415 490415 32750 150160 64809 -32059 -32059 OTHER INCOME 900099 352 352 352 8193926 5941352 0 805758 1454696 1454696 785042 103851 473488 207703 3065215 2688764 242689 133762 74678 53066 20395 1217 453848 350569 69932 33347 290300 218608 50450 21242 22717 22717 47735 47735 28920 28920 45590 33576 4013 8001 29637 14819 14818 84364 37416 20544 26404 131930 103308 14311 14311 367828 234819 111440 21569 2547 2547 144325 82819 51532 9974 525132 330833 162791 31508 68754 43315 21314 4125 CAFETERIA EXPENSES 383652 383652 INSTRUCTIONAL EXPENSES 123075 117411 5664 BAD DEBT 85070 85070 BOOKS 31638 31638 61470 4204 37616 19650 8308163 6287364 1487986 532813 487292 730046 56376 354956 305700 216000 25823 6245 39148 33709 47763 58402 16872809 8475981 8794966 8396828 7849482 7402690 1968 1968 17608518 17200844 538358 431094 784491 1068794 4630703 4313343 245852 245545 6199404 6058776 X 7100211 7002426 4308903 4139642 11409114 11142068 17608518 17200844 X -114237 -127380 74571 -100000 X X 0 1 X 1 0 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 7166415 609381 976076 6799720 6869808 576607 280000 7166415 6887276 500000 440032 957500 6869808 7516269 500000 -830396 298597 6887276 6339516 1176753 7516269 0.45220 0.19764 0.35017 0 0 73819 73819 16058095 7827403 8230692 682594 648578 34016 58301 58301 8396828 457(B) PLAN LIABILITY 187502 CAPITAL LEASE OBLIGATIONS 58043 245545 X 6747131 -127380 800 163401 36821 6710310 28920 1454696 1483616 8193926 7014177 800 188830 189630 6824547 28920 1454696 1483616 8308163 PART V, LINE 4: ENDOWMENT FUNDS ARE USED TO GENERATE INCOME THAT CAN BE USED FOR RESTRICTED AND UNRESTRICTED OPERATIONAL EXPENDITURES. PART X, LINE 2: THE SCHOOL RECOGNIZES THE EFFECT OF INCOME TAX POSITIONS ONLY IF THOSE POSITIONS ARE MORE LIKELY THAN NOT TO BE SUSTAINED. MANAGEMENT HAS DETERMINED THAT THE SCHOOL HAD NO UNCERTAIN TAX POSITIONS THAT WOULD REQUIRE FINANCIAL STATEMENT RECOGNITION OR DISCLOSURE. THE SCHOOL IS NO LONGER SUBJECT TO EXAMINATIONS BY THE APPLICABLE TAXING JURISDICTIONS FOR YEARS PRIOR TO JUNE 30, 2022. PART XI, LINE 2D - OTHER ADJUSTMENTS: RENTAL EXPENSE - REPORTED ON PART VIII, LINE 6B 24,021. FUNDRAISING EXPENSES INCLUDED ON PART VIII, LINE 8B 64,809. PRIOR PERIOD ADJUSTMENT 74,571. PART XI, LINE 4B - OTHER ADJUSTMENTS: FINANCIAL AID RECLASSED TO PART IX, LINE 2 1,454,696. PART XII, LINE 2D - OTHER ADJUSTMENTS: RENTAL EXPENSE - REPORTED ON PART VIII, LINE 6B 24,021. FUNDRAISING EXPENSES INCLUDED ON PART VIII, LINE 8B 64,809. WRITE OFF OF UNCOLLECTIBLE PLEDGE 100,000. PART XII, LINE 4B - OTHER ADJUSTMENTS: FINANCIAL AID RECLASSED TO PART IX, LINE 2 1,454,696. 1 1 1 1 1 1 1 0 0 0 0 0 0 0 0 1 0 1 SCHEDULE E, PART I, LINE 3 THE SCHOOL PUBLICIZES ITS RACIALLY NONDISCRIMINATORY POLICY ALONG WITH OTHER NEW YORK CITY INDEPENDENT SCHOOLS IN THE NEW YORK TIMES ON A YEARLY BASIS AS WELL ON ALL PRINT ADS. IN ADDITION, THE SCHOOL DISCLOSES THE NON DISCRIMINATION POLICY ON THE HOMEPAGE OF ITS WEBSITE - HTTPS://WWW.PCS-NYC.ORG/ SCHEDULE E, PART I, LINE 6 STATE AID: $212,411 AND FEDERAL AID: $6,525 INCLUDED IN FORM 990, PART VIII, LINE 1. BENEFIT GALA 180700 147950 32750 49525 9227 6057 ALUMNI REUNION 2210 2210 182910 150160 32750 49525 9227 6057 64809 -32059 1 FINANCIAL AID 42 1454696 PART I, LINE 2: ALL THE PROFESSIONAL CHILDREN'S SCHOOL'S (PCS) FUNDS PROVIDED TO ITS STUDENTS ARE NEED BASED FINANCIAL AID (FA). THE AWARDED FINANCIAL AID IS APPLIED DIRECTLY TO THE STUDENT'S TUITION, AND THIS IS TRACKED BY THE ADMISSIONS AND BUSINESS OFFICE. DETERMINING NEED BASED FINANCIAL AID REQUIRES THAT A FAMILY FIRST APPLY THROUGH A THIRD-PARTY SCHOOL MANAGEMENT SYSTEM, CLARITY. WHEN A FAMILY APPROACHES THE DIRECTOR OF ADMISSIONS REQUESTING FINANCIAL AID, THE FAMILY IS DIRECTED TO SET UP AN ACCOUNT ON CLARITY. CLARITY THEN TRACKS, ON AN ENCRYPTED SITE, WHEN ALL REQUESTED FA DOCUMENTATION IS SUBMITTED, INCLUDING: - APPLICATION (REQUIRED) - FAMILY TAX FILINGS FOR THE PREVIOUS YEAR (REQUIRED) - W2S, 1099S OR OTHER FORMS REFLECTING INCOME EARNED (REQUIRED) - A LETTER WITH ADDITIONAL NEED INFORMATION (NOT REQUIRED) ONCE THE INFORMATION IS ENTERED, CLARITY THEN PROVIDES AN ASSESSMENT OF A FAMILY'S FINANCIAL SITUATION AND ESTIMATES WHAT A FAMILY COULD PAY TOWARDS TUITION. THE FINANCIAL AID COMMITTEE (FAC) IS PROVIDED A BUDGET AS APPROVED BY THE BOARD OF TRUSTEES OF TOTAL FINANCIAL AID THAT CAN BE DISTRIBUTED FOR THE FY. THERE ARE OCCASIONALLY ADDITIONAL FUNDS AVAILABLE FROM TEMPORARILY RESTRICTED NET ASSETS, WHICH CAN BE APPLIED BEYOND THE ANNUAL BUDGET, IF NEEDED. WITH THIS INFORMATION, THE DIRECTOR OF ADMISSIONS CALLS TOGETHER THE FAC (WHICH INCLUDES THE DIRECTOR OF ADMISSIONS, HEAD OF SCHOOL, DIRECTOR OF FINANCE, AND THE BUSINESS OFFICE AND ADMISSIONS COORDINATOR). THE FAC MEET, DURING THE PEAK OF ADMISSIONS SEASON (BETWEEN JANUARY-JUNE), ON A WEEKLY BASIS, TO REVIEW FAMILY FILES AND DETERMINE THE FA AWARD BASED ON FINANCIAL NEED AND WITHIN THE FY YEAR BUDGET. THE HIGHEST AWARD THE SCHOOL GAVE IN 2024-2025 WAS $55,095 FROM THE FA BUDGET, BUT IF A FAMILY SHOWED ADDITIONAL NEED, SUPPLEMENTAL FINANCIAL AID WAS DRAWN FROM TEMPORARILY RESTRICTED NET ASSETS TO SUPPORT THEIR ATTENDING PCS. PROFESSIONAL CHILDREN'S SCHOOL DOES NOT DISCRIMINATE ON THE BASIS OF RACE, CREED, NATIONAL OR ETHNIC ORIGIN, GENDER OR SEXUAL ORIENTATION IN EMPLOYMENT PRACTICES, ADMISSIONS CRITERIA OR THE DAY-TO-DAY FUNCTIONING OF THE SCHOOL. X 1 1 X X X 0 0 0 0 0 0 0 0 0 JAMES DAWSON HEAD OF SCHOOL 447807 0 0 0 0 0 2027 0 52970 0 502804 0 0 0 PAUL Q KANE DIRECTOR OF FINANCE 228486 0 0 0 0 0 997 0 27826 0 257309 0 0 0 REEM ABU-AMARA DIRECTOR OF TECHNOLOGY 175055 0 0 0 0 0 748 0 21963 0 197766 0 0 0 SARAH RUTLEDGE HEAD OF UPPER SCHOOL 191770 0 0 0 0 0 833 0 3971 0 196574 0 0 0 WILLIAM HIRT DIRECTOR OF COLLEGE COUNSELING 171653 0 0 0 0 0 734 0 21474 0 193861 0 0 0 LORI MURPHY DIRECTOR OF ADMISSIONS 138472 0 0 0 0 0 693 0 41589 0 180754 0 0 0 DANIA LAWRO HEAD OF MIDDLE SCHOOL 137273 0 0 0 0 0 582 0 20440 0 158295 0 0 0 PART I, LINE 1A THE DISCRETIONARY FUND WAS BUDGETED AT $2,500 IN 24-25 AND IS USED FOR SCHOOL RELATED EXPENSES SUCH AS TRAVEL OR ENTERTAINMENT RELATED TO FUNDRAISING, SUPPORTING STUDENTS WITH SCHOOL SUPPLIES, ETC. ALL RECEIPTS MUST BE APPROVED BY THE FINANCE CHAIR. IN 2024-2025, THE HEAD OF SCHOOL INCURRED EXPENSES OF $0. IT IS NONTAXABLE. A BUILD NYC RESOURCE CORP 454040561 000000000 2017-05-01 6856000 SEE BELOW 0 0 0 A 2282191 6856000 108482 1807518 4940000 2018 1 0 1 1 A 0 0 1 1 0 0.00000 0.00000 0.00000 0 0 1 A 0 0 1 0 0 0 0 0 1 A 1 PART I, LINE A, COLUMN F: REFINANCING OF PRIOR NYC IDA BOND, FINANCING OF THE RENOVATION AND REPLACEMENT OF CERTAIN EXTERIOR WINDOWS AT THE FACILITY, PAYMENT OF ANY REDEMPTION PREMIUM, AND PAYMENT OF CERTAIN ISSUANCE COSTS. PART III, COLUMN A, QUESTION 7: AS PROVIDED IN TREASURY REGULATION SECTION 1.1414( C)(2)(I)(B) THE AMOUNT OF PRIVATE PAYMENTS TAKEN INTO ACCOUNT UNDER THE PRIVATE PAYMENT TEST MAY NOT EXCEED THE AMOUNT OF PRIVATE BUSINESS USE AND/OR UNRELATED TRADE OR BUSINESS USE. ACCORDINGLY, THE AMOUNT OF PRIVATE PAYMENTS FOR THE REPORTING PERIOD DOES NOT EXCEED THE AMOUNT STATED IN PART III, LINE 6. THE ORGANIZATION HAS NOT UNDERTAKEN AN ANALYSIS OF THE PRIVATE SECURITY TEST WITH RESPECT TO THE BONDS, AS THE LEVEL OF PRIVATE BUSINESS USE AND/OR UNRELATED TRADE OR BUSINESS REPORTED IN PART III, LINE 6, IS NOT IN EXCESS OF THE AMOUNTS PERMITTED UNDER SECTION 145 OF THE CODE. FORM 990, PART VI, SECTION B, LINE 11B THE ORGANIZATION HAS ITS FORM 990 PREPARED BY AN OUTSIDE ACCOUNTING FIRM AND HAS ESTABLISHED THE FOLLOWING REVIEW PROCESS TO ENSURE THAT THE INFORMATION REPORTED IS COMPLETE AND ACCURATE. WHEN THE FORM 990 HAS BEEN PREPARED, REVIEWED BY THE AUDIT COMMITTEE AND IS READY TO BE FILED WITH THE INTERNAL REVENUE SERVICE, A PUBLIC DISCLOSURE COPY IS ELECTRONICALLY SENT TO THE BOARD MEMBERS OF THE ORGANIZATION FOR ANY COMMENTS. ANY COMMENTS ARE THEN GROUPED, SUMMARIZED AND PROVIDED TO THE OUTSIDE ACCOUNTANTS. EACH ISSUE IS DOCUMENTED AND ADDRESSED UNTIL THE RETURN IS FINALIZED AND APPROVED FOR FILING. A FULL COPY OF THE FORM 990 IS ALSO MADE AVAILABLE TO ANY TRUSTEE WISHING TO VIEW THE FULL RETURN INCLUDING SCHEDULE B INFORMATION. FORM 990, PART VI, SECTION B, LINE 12C THE SCHOOL CURRENTLY HAS IN PLACE A CONFLICT OF INTEREST POLICY, WHICH THE BOARD ANNUALLY MONITORS AND ENFORCES. THE BOARD MANDATES EACH TRUSTEE, OFFICER AND KEY EMPLOYEE (IF ANY) OF THE SCHOOL TO ANNUALLY SIGN A CONFLICT OF INTEREST POLICY AND DISCLOSE ANY POTENTIAL OR ACTUAL CONFLICTS THAT MAY EXIST. IN CONNECTION WITH ANY ACTUAL OR POSSIBLE CONFLICT OF INTEREST, AN INTERESTED PERSON DISCLOSES THE EXISTENCE OF THE INTEREST AND BE GIVEN THE OPPORTUNITY TO DISCLOSE ALL MATERIAL FACTS TO THE TRUSTEES AND MEMBERS OF THE COMMITTEES CONSIDERING THE PROSED TRANSACTION OR ARRANGEMENT. AFTER DISCLOSURE OF THE INTEREST AND ALL OTHER MATERIAL FACTS, AND AFTER ANY DISCUSSION WITH THE INTERESTED PERSON, THE INTERESTED PERSON IS NOT TO BE PRESENT AT ANY POINT WHILE THE DETERMINATION OF CONFLICT OF INTEREST IS DISCUSSED AND VOTED UPON BY REMAINING THE BOARD OR COMMITTEE MEMBERS. THE MINUTES OF THE MEETINGS OF THE BOARD AND ITS COMMITTEES WILL REFLECT THE BOARD'S DELIBERATIONS AND VOTING PROCESS ON THE CONFLICT OF INTEREST. FORM 990, PART VI, SECTION B, LINE 15A THE COMPENSATION OF THE HEAD OF SCHOOL IS SET BY THE EXECUTIVE COMMITTEE OF THE BOARD OF TRUSTEES. THE EXECUTIVE COMMITTEE DETERMINES THE COMPENSATION OF THE HEAD OF SCHOOL USING ANNUAL PERFORMANCE EVALUATION AND COMPARABLE DATA. THE CHAIR OF THE BOARD GATHERS PEER INSTITUTION COMPENSATION DATA FROM AT LEAST TWO SOURCES, ALWAYS INCLUDING NATIONAL ASSOCIATION OF INDEPENDENT SCHOOLS (NAIS) AND NYS ASSOCIATION OF INDEPENDENT SCHOOLS (NYSAIS) FOR THE HEAD OF SCHOOL AND PROVIDES THE DATA TO THE EXECUTIVE COMMITTEE FOR REVIEW. THE EXECUTIVE COMMITTEE USES THE INFORMATION PROVIDED TO DETERMINE THE HEAD OF SCHOOL'S SALARY AND BENEFIT AND SUBMIT THE RECOMMENDATION TO THE BOARD OF TRUSTEES FOR FINAL APPROVAL. THIS PROCESS WAS LAST CONDUCTED IN APRIL 2024 AND DOCUMENTED IN THE MINUTES OF THE GOVERNANCE COMMITTEE MEETING. FORM 990, PART VI, SECTION C, LINE 19 THE SCHOOL MAKES ITS FORM 990 AVAILABLE FOR PUBLIC INSPECTION AS REQUIRED UNDER SECTION 6104 OF THE INTERNAL REVENUE CODE. THE FORM 990 IS POSTED ON GUIDESTAR.ORG AND OTHER SIMILAR TYPES OF WEBSITES. IN ADDITION, THE FINANCIAL STATEMENTS, CONFLICT OF INTEREST POLICY, ARTICLES OF INCORPORATION, A COPY OF THE FORM 990, AND BY-LAWS ARE ALSO AVAILABLE UPON WRITTEN REQUEST OR BY CALLING THE ORGANIZATION DIRECTLY. FORM 990, PART XI, LINE 9: WRITE OFF OF UNCOLLECTIBLE PLEDGE -100,000.