Nonprofit · EIN 85-3616971
FRIENDS OF VALENCE PREP INC
Tax-exempt · QUEENS, NY 11374
Financials
| Year ended | Form | Revenue | Expenses | Net income | Total assets | Liabilities | Net assets |
|---|---|---|---|---|---|---|---|
| June 30, 2025 | 990 | $3,275,088 | $3,557,182 | -$282,094 | $45,737,414 | $45,330,168 | $407,246 |
| June 30, 2024 | 990 | $3,430,406 | $3,232,588 | $197,818 | $46,244,872 | $45,555,532 | $689,340 |
| June 30, 2023 | 990 | $3,332,459 | $3,118,305 | $214,154 | $46,099,444 | $45,682,764 | $416,680 |
Financial details: 990 for the year ended June 30, 2025
Revenue
- Contributions, gifts and grants
- $0
- Program service revenue
- $3,275,088
- Investment income
- $0
- Other revenue
- $0
Expenses
- Grants and similar amounts paid
- $0
- Salaries, compensation and benefits (total)
- $0
- Professional fundraising fees
- $0
- Accounting fees
- $25,200
- Occupancy
- $3,124,820
- Program services (functional)
- $3,531,982
- Management and general (functional)
- $25,200
Balance sheet and other
- Total assets, start of year
- $46,244,872
- Total assets, end of year
- $45,737,414
- Total liabilities, end of year
- $45,330,168
- Net assets, end of year
- $407,246
- Net assets without donor restrictions
- $407,246
- Gross receipts
- $3,275,088
- Employees
- 0
- Volunteers
- 3
- Year formed
- 2021
- State of legal domicile
- NY
From the e-filed returns the IRS publishes as XML (latest three processing years; amended returns replace the original). PDF copies at the IRS.
Officers, directors and key employees
As listed on the 990 for the year ended June 30, 2025, highest compensation first.
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| LUKE DEGROSSI | CHAIR Trustee or director, Officer | 1 | $0 |
| BESK PRYOR | TREASURER Trustee or director, Officer | 1 | $0 |
| ANGELA GUERRERO | SECRETARY Trustee or director, Officer | 1 | $0 |
990 for the year ended June 30, 2024: 3 people
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| LUKE DE GROSSI | CHAIR Trustee or director, Officer | 1 | $0 |
| BESK PRYOR | TREASURER Trustee or director, Officer | 1 | $0 |
| ANGELA GUERRERO | SECRETARY Trustee or director, Officer | 1 | $0 |
990 for the year ended June 30, 2023: 3 people
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| LUKE DE GROSSI | CHAIR Trustee or director, Officer | 1 | $0 |
| BESK PRYOR | TREASURER Trustee or director, Officer | 1 | $0 |
| ANGELA GUERRERO | SECRETARY Trustee or director, Officer | 1 | $0 |
Address and contacts
- Address (IRS master file)
- 97-29 64TH RD, QUEENS, NY 11374-2259
- In care of
- % MITCHELL FLAX
- Principal officer (990 for 2024)
- LUKE DEGROSSI, 97-29 64TH RD, QUEENS, NY 11374
- Signed the 990
- LUKE DE GROSSI, BOARD CHAIR
- Phone
- (646) 854-8414
- Website
- WWW.VALENCECOLLEGEPREP.ORG
- Return prepared by
- SAX ADVISORS LLC
Mission
THE ORGANIZATION WAS ESTABLISHED TO PROVIDE FINANCIAL AND TECHNICAL SUPPORT TO, AND FURTHER THE EDUCATIONAL AND CHARITABLE PURPOSES OF VALENCE COLLEGE PREP CHARTER SCHOOL IN THE STATE OF NEW YORK
Program accomplishments
- RENTAL OF BUILDING TO THE CHARTER SCHOOLExpenses $3,531,982 · revenue $3,275,088
What it must file and when
IRS records say it files Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N. Its accounting year ends in June, so each return is due on the 15th day of the 5th month after that.
| Tax year | Year ended | Due | IRS public records |
|---|---|---|---|
| 2025 | June 30, 2026 | November 16, 2026 | Not due yet |
| 2024 | June 30, 2025 | November 17, 2025 | 990 on file |
| 2023 | June 30, 2024 | November 15, 2024 | 990 on file |
IRS record
- EIN
- 85-3616971
- Tax-exempt status
- 501(c)(3): Charitable, religious, educational or scientific organization
- Foundation status
- Publicly supported organization (509(a)(2))
- Donations deductible (Pub 78)
- Public charity, 50% deduction limit
- Exempt since
- 2022
- Accounting year ends
- June
- Files
- Form 990 or 990-EZ
- Category (NTEE)
- Education (B02)
- Assets (IRS master file)
- $45,737,414
- Income (IRS master file)
- $3,275,088
Filing history
| Form | Year ended | Revenue | Expenses | Assets | Return |
|---|---|---|---|---|---|
| 990 | June 2025 | $3,275,088 | $3,557,182 | $45,737,414 | IRS |
| 990 | June 2024 | $3,430,406 | $3,232,588 | $46,244,872 | IRS |
| 990 | June 2023 | $3,332,459 | $3,118,305 | $46,099,444 | XML |
| 990 | June 2022 | $3,132,834 | $2,925,308 | $1,442,930 | IRS |
990-N: the IRS bulk file holds only the latest e-Postcard per organization; earlier years come from archived copies of that file since 2020 and can have gaps (the IRS e-Postcard search lists every one). 990, 990-EZ, 990-PF, 990-T: every e-filed return in the IRS e-file index since 2019; XML for the latest three processing years, amounts from the IRS Statistics of Income extracts before that. PDF copies and determination letters at the IRS (search EIN 85-3616971).
Questions about FRIENDS OF VALENCE PREP INC
- What is the EIN of FRIENDS OF VALENCE PREP INC?
- The employer identification number (EIN) of FRIENDS OF VALENCE PREP INC is 85-3616971.
- Is FRIENDS OF VALENCE PREP INC tax-exempt?
- Yes. The IRS lists it as tax-exempt under section 501(c)(3) since 2022.
- Are donations to FRIENDS OF VALENCE PREP INC tax-deductible?
- Yes. It is listed in IRS Publication 78 (Public charity, 50% deduction limit).
- Which annual return does FRIENDS OF VALENCE PREP INC file?
- Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N.
- When is the next return of FRIENDS OF VALENCE PREP INC due?
- The return for tax year 2025 (the year ending June 30, 2026) is due November 16, 2026. Form 8868 extends it by six months; the 990-N cannot be extended.
- When did FRIENDS OF VALENCE PREP INC last file with the IRS?
- The latest return in the IRS public files is the 990 for the year ended June 2025.
- Who is the principal officer of FRIENDS OF VALENCE PREP INC?
- The 990 for the year ended June 30, 2025 names LUKE DEGROSSI.
- Who are the officers and directors of FRIENDS OF VALENCE PREP INC?
- The 990 for the year ended June 30, 2025 lists 3 people; 0 received compensation from the organization.
- How much revenue does FRIENDS OF VALENCE PREP INC have?
- On its 990 for the year ended June 30, 2025 it reported revenue of $3,275,088, expenses of $3,557,182 and total assets of $45,737,414 at year end.
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