Capital Preparatory Schools

Legal name: Capital Preparatory Schools Inc

Nonprofit profile at a glance

EIN
434669846
IRS 990 coverage
2014–2024
Official website data refreshed
Sep 2026
Forms available
Form 990 2024
Location
Bridgeport, CT, US
Phone
(917) 838-3684
Rating
75
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Management & Technical Assistance

Official website

Reported finances

Revenue
$6,238,108
Expenses
$6,381,119
Assets
$6,479,203
Liabilities
$1,575,460

Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.

Leadership & pay

19 people listed

Executive titles in this filing

  • DR STEPHEN PERRY (CHIEF EXECUTIVE OFFICER)

Highest reported compensation

  • DR STEPHEN PERRY (CHIEF EXECUTIVE OFFICER): $312,112 total reported compensation
  • PAULA ALTIERI (CHIEF FINANCIAL OFFICER): $307,890 total reported compensation
  • JILL CUTLER-HODGMAN (CHIEF OF STAFF): $307,530 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

Capital Preparatory Schools is a Charter Management Organization operating tuition-free, public charter schools across New York and Connecticut, focusing on college prep with a social justice lens.

What it reported doing in 2024

Capital preparatory schools, inc. Provided educational and management services to the following schools: capital preparatory harbor school, capital preparatory harlem charter school, capital preparatory bronx charter school and capital preparatory new rochelle charter school.

Operating model

Revenue model
Mixed. Its operating money came from several sources; no one source provided a clear majority.
Distribution model
Direct operator. The filing allocates 93% of reported program-service expenses outside its grant, affiliate-payment, and member-benefit lines. This expense classification does not rule out separately announced grant awards.

The verdict

SUPPORTED - The filed numbers largely add up and most voting board members are independent. Fundraising costs are high for each dollar raised and expenses are high relative to revenue.

Rating breakdown

  • Financial Efficiency: 58
  • Transparency & Controls: 87
  • Accountability: 95
  • Sustainability: 28
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 61.2%; rating input score 61
  • Program expense ratio: 59.9%; rating input score 60
  • Fundraising efficiency: $10.1 raised per $1 spent on fundraising; rating input score 38; 38th percentile among comparable filings

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
  • Pay-setting controls: 4 of 6 controls in place; rating input score 67
    • Compensation committee: Missing
    • Independent consultant: Pass
    • Other Form 990s reviewed: Pass
    • Written employment contract: Missing
    • Compensation survey or study: Pass
    • Board or committee approval: Pass
  • Foreign activity oversight: Limited
  • Grant itemization coverage: 100%; rating input score 100; 72nd percentile among comparable filings
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 63rd percentile among comparable filings
  • Governance controls: 8 of 9 controls in place; rating input score 89
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: Pass
    • Other executive compensation review process: Pass
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Fail
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: -2.3%; rating input score 26; 26th percentile among comparable filings
  • Total-asset coverage ratio: 1.02; rating input score 37; 37th percentile among comparable filings
  • Liabilities to assets ratio: 0.24; rating input score 39; 39th percentile among comparable filings
  • Officer compensation ratio: 48.9%; rating input score 1; 1st percentile among comparable filings

Growth

  • Program expense growth: 18.5% per year; rating input score 100; 83rd percentile among comparable filings
  • Revenue growth: 16.8% per year; rating input score 100; 84th percentile among comparable filings
  • Asset growth: 17.7% per year; rating input score 100; 80th percentile among comparable filings

Details

  • What they do: 1 programs and campaigns described on the official site · 6 operating locations identified
  • Where the money goes: 61.2% of revenue deployed · 59.9% of spending went to programs
  • Governance: 5 of 5 board members independent · 8 of 9 filing controls reported
  • Programs: 1 filed program accomplishment · $3.8M in reported program spending
  • Leadership: top reported pay $312K · 19 people listed · 4 of 6 pay-setting controls reported
  • Consistency: 30 of 30 current checks pass
  • Schedules: 6 filed schedules · includes major donors, grants, and executive pay
  • Filing history: 9 filing years from 2014 to 2024
  • Contacts: How to reach this organization
  • Money network: 15 filed money-flow records
  • Related organizations: 1 filed related-organization link
  • Grant readiness: Federal tax and exclusion status, award history, and grant-maker relationships.
  • People: Everyone the filings name, and which of them the filings identify by more than a name.

Key Signals

Signals prioritize questions for review. They are not findings of misconduct.

  • Moderate — Financial Efficiency: Fundraising efficiency scored 38/100.
  • High — Sustainability: Operating margin scored 26/100.
  • Moderate — Sustainability: Total-asset coverage ratio scored 37/100.
  • Review — Accountability: Governance controls: Audit committee oversight not reported.
  • High — Sustainability: Officer compensation ratio scored 1/100.
  • Moderate — Sustainability: Liabilities to assets ratio scored 39/100.