2024-02-08T14:12:32-06:00 2023-06-30 WithumSmithBrown PC ONE TOWER CENTER BLVD 14TH FL EAST BRUNSWICK NJ 08816 990 2022-07-01 135562268 LITTLE RED SCHOOL HOUSE INC % JOSHUA MARKS LITT 2124775316 40 CHARLTON STREET NEW YORK NY 10014 JOSHUA MARKS CFO 2124775316 2024-02-05 true JOSHUA MARKS 999009999 Catherine Bendall P00521196 7328281614 2024-02-05 2 2022 2023-04-26 12:10:37Z PHIL KASSEN 40 CHARLTON STREET NEW YORK NY 10014 37112950 false X WWW.LREI.ORG X 1932 NY A leader in progressive education since 1921, LREI teaches children to be independent thinkers who work together to solve complex problems. See Schedule O for full statement. 35 35 293 150 0 5182180 2421670 31237812 31463407 342919 209102 153029 385260 36915940 34479439 7414216 6802573 0 0 20417563 20874304 0 13000 967196 10133730 9858428 37965509 37548305 -1049569 -3068866 50588811 53056791 24117101 27675009 26471710 25381782 X A LEADER IN PROGRESSIVE EDUCATION SINCE 1921, LREI TEACHES CHILDREN TO BE INDEPENDENT THINKERS WHO WORK TOGETHER TO SOLVE COMPLEX PROBLEMS. (SEE SCHEDULE O FOR FULL MISSION STATEMENT) false false 27080746 6802573 31463407 See Schedule O for LREI program description. 27080746 true true false false false false false false false true true false false false true true true false true false false false false false true false false false true true true false false false false false false true false false false true false false false false false false false false true 40 0 true 293 true false false false false false true true false false false false false false X 35 35 true false false false false false false true true false false true true true true true true true true false X JOSHUA MARKS 2124775316 40 CHARLTON STREET NEW YORK NY 10014 Phil Kassen Director 40.0 0.0 X 441075 0 54597 Jennifer Weil Director of Advancement 40.0 0.0 X 179492 0 148841 Josh Marks CFO 40.0 0.0 X 264687 0 30338 Allison Isbell Assistant Director 40.0 0.0 X 179189 0 107896 Margaret Andrews Middle School Asst Principal 40.0 0.0 X 185694 0 29964 Cari Kosins Dir Of Summer & Afterschool 40.0 0.0 X 148976 0 33159 Margaret Magee Paul High School Principal 40.0 0.0 X 154545 0 15781 Nathan Sokol-Margolis MIDDLE SCHOOL Principal 40.0 0.0 X 76095 0 61504 Heather McKay Lower School Principal 40.0 0.0 X 85175 0 15655 James Harris Chair 1.0 0.0 X X 0 0 0 Anh-Van Nguyen Vice Chair 1.0 0.0 X X 0 0 0 Eunu Chun Secretary 1.0 0.0 X X 0 0 0 Dave Olsen Treasurer 1.0 0.0 X X 0 0 0 Susie Scher At Large 1.0 0.0 X X 0 0 0 Jamal Young At Large 1.0 0.0 X X 0 0 0 Analisa Cipriano TRUSTEE 1.0 0.0 X 0 0 0 Ken Cornick TRUSTEE 1.0 0.0 X 0 0 0 Shira Cornfeld TRUSTEE 1.0 0.0 X 0 0 0 Dawn Eig TRUSTEE 1.0 0.0 X 0 0 0 Kellie Ferguson TRUSTEE 1.0 0.0 X 0 0 0 James French TRUSTEE 1.0 0.0 X 0 0 0 Kai-Anasa George TRUSTEE 1.0 0.0 X 0 0 0 Amanda Goodwin TRUSTEE 1.0 0.0 X 0 0 0 Francis Greenburger TRUSTEE 1.0 0.0 X 0 0 0 Julia Heaton TRUSTEE 1.0 0.0 X 0 0 0 Deborah Hodge TRUSTEE 1.0 0.0 X 0 0 0 Shoy McKen TRUSTEE 1.0 0.0 X 0 0 0 Ruth Jurgensen TRUSTEE 1.0 0.0 X 0 0 0 Ceci Loebl Van Blerkom TRUSTEE 1.0 0.0 X 0 0 0 Alejandro Montoya TRUSTEE 1.0 0.0 X 0 0 0 Yukie Ohta TRUSTEE 1.0 0.0 X 0 0 0 Sean Paroff TRUSTEE 1.0 0.0 X 0 0 0 Kasey Picayo TRUSTEE 1.0 0.0 X 0 0 0 Hope Reeves TRUSTEE 1.0 0.0 X 0 0 0 Robert Rosenthal TRUSTEE 1.0 0.0 X 0 0 0 Halee Sage TRUSTEE 1.0 0.0 X 0 0 0 Jennifer Sagum TRUSTEE 1.0 0.0 X 0 0 0 Louis Sharpe TRUSTEE 1.0 0.0 X 0 0 0 Eve Stuart TRUSTEE 1.0 0.0 X 0 0 0 Harriette Thomas TRUSTEE 1.0 0.0 X 0 0 0 Kimbrough Towles TRUSTEE 1.0 0.0 X 0 0 0 Rodney White TRUSTEE 1.0 0.0 X 0 0 0 Jamal Young TRUSTEE 1.0 0.0 X 0 0 0 Amy Zimmerman TRUSTEE 1.0 0.0 X 0 0 0 1714928 0 497735 61 false true false CATER TO YOU 665 Broadway Suite 503 NEW YORK NY 10012 FOOD SERVICE 1273209 Albeiro Contracting Group 32-18 104th Street ELMHURST NY 11369 Construction/Repairs 300382 Wells Fargo Vendor Financial Serv 800 Walnut St DES MOINES IA 50309 TECHNOLOGY SUPPLIES 137788 Blackbaud 65 Fairchild Street CHARLESTON NC 29492 enrollment managemen 107777 4 X 215618 336898 1869154 212933 2421670 TUITION 611710 30447542 30447542 AFTER SCHOOL PROGRAMS 611710 424093 424093 SUMMER CAMP FEES 611710 370620 370620 OTHER FEES 611710 221152 221152 31463407 398992 398992 0 0 383128 383128 0 383128 383128 2368756 2558646 -189890 -189890 -189890 74865 290483 74865 0 0 0 0 0 0 BAD DEBT RECOVERIES 2132 2132 2132 34479439 31848667 209102 0 6802573 6802573 0 0 1438923 867931 494844 76148 0 15340995 10286099 4564583 490313 818619 544835 245119 28665 1997595 1283419 643784 70392 1278172 846779 387984 43409 0 74022 74022 75270 75270 0 13000 13000 102578 102578 291445 291445 0 1155642 612116 396709 146817 651702 651702 0 1127021 834419 263159 29443 0 0 101465 71936 29529 665563 42883 620482 2198 0 1967259 1303294 597154 66811 367404 367404 SUMMER CAMP EXPENSE 218670 218670 LUNCH ROOM & FOOD SERVICE 1233897 1233897 STUDENT ACTIVITIES 859229 859229 AFTER SCHOOL PROGRAMS 186760 186760 780501 434204 346297 37548305 27080746 9500363 967196 X 3000 3000 3477203 4897852 3098030 1189572 914468 397642 0 0 0 0 0 0 0 0 245690 110121 51576283 27941922 25387989 23634361 17324675 20734551 0 0 0 0 0 0 137756 2089692 50588811 53056791 2203553 2310992 0 0 9886383 11240679 7776182 7734000 0 0 0 0 4197983 3999134 0 0 53000 2390204 24117101 27675009 X 22492000 23253850 3979710 2127932 26471710 25381782 50588811 53056791 X -3068866 1908245 70693 X false true X true false X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 16687146 2159034 2010972 71760 20785392 17973129 1320277 -2606260 0 16687146 12530342 2728085 2831922 117221 17973128 10031688 1930305 845582 277233 12530342 7081840 2665485 999426 715063 10031688 0.03500 0.96500 false false 857823 857823 49200345 26656198 22544147 288432 167371 121061 845966 793206 52760 383717 325147 58570 23634361 0 SECURITY DEPOSIT PAYABLE 53000 LEASE LIABILITIES 2337204 2390204 X 29553226 1908245 70693 1978938 27574288 102578 6802573 6905151 34479439 30643154 30643154 102578 6802573 6905151 37548305 SCHEDULE D, PART XI & XII, LINE 4b Scholarship expenses of $6,802,573 were netted with tuition revenue on the audited financial statements. The scholarships were included as expenses in the form 990 resulting in an increase in both revenue and expense as shown on line 4b. SCHEDULE D, PART X, LINE 2 THE SCHOOL IS EXEMPT FROM FEDERAL AND STATE INCOME TAXES AND ACCORDINGLY, NO PROVISION FOR INCOME TAXES HAS BEEN RECORDED IN THE STATEMENTS OF ACTIVITIES AND CHANGES IN NET ASSETS. THE SCHOOL HAD NO UNRECOGNIZED TAX BENEFITS AS OF AND FOR THE YEARS ENDED JUNE 30, 2023 AND 2022. THE SCHOOL HAS NO INCOME TAX RELATED PENALTIES OR INTEREST FOR THE PERIODS REPORTED IN THE FINANCIAL STATEMENTS. SCHEDULE D, PART V, LINE 4 THE OVERALL FINANCIAL OBJECTIVES OF THE BOARD DESIGNATED FUNDS ARE TO SUPPORT THE CURRENT AND FUTURE OPERATIONS OF THE SCHOOL AND TO PRESERVE AND ENHANCE THE PURCHASING POWER OF THE BOARD DESIGNATED FUNDS. THE BOARD IS RESPONSIBLE FOR THE INVESTMENT OF THE BOARD DESIGNATED ENDOWMENT FUNDS. Schedule D, Part XI, line 2d the unrealized gain on the swap agreement of $70,693 has been shown as an other adjustment in part XI, reconciliation of net assets and has been adjusted from total revenue from the audited financial statements. true true true true true true true false false false false false false false false true false true SCHEDULE 3, LINE 3 The LREI diversity statement is provided in all communications and is included with the mission statement on the LREI webpage at lrei.org Diversity Statement on the website: Since 1921, LREI's commitment to social justice, equity and activism has ensured that every community member has access to the full LREI experience. Our 14-year program explores, celebrates, and encourages differences and commonalities, and the challenges and opportunities they present. We view these efforts as integral to the personal and intellectual growth of each member of our school. LREI is committed to each of its community members, each of whom has a responsibility to both the community and to the wider world. This is as important now as it was when LREI was founded. Fundr. Event 62535 25999 36536 36536 Art Auction 227948 189619 38329 38329 0 290483 215618 74865 74865 74865 true SCHOLARSHIPS and tuition remission 177 0 6802573 Book Value Scholarships PART I, LINE 2 All grants of financial aid or merit scholarships are allocated by discounting the nominal tuition by the amount of the aid or scholarship. Therefore, no cash is given, but rather, for example, a student who would otherwise pay $30,000 receives financial aid of $10,000 and therefore pays the net amount owed of $20,000. All grants of financial aid are decided by LREI's Tuition Remission Committee and are based on an objective determination of financial need. The amount of any financial aid or scholarship is documented in the enrollment contract and both tuition and financial aid are entered into our accounts receivable module so that we can track the net amount that must be paid by a particular student. X X X X false false false false false false false false false Phil Kassen Director 441075 0 0 40744 13853 495672 Josh Marks CFO 264687 0 0 15912 14426 295025 Allison Isbell Assistant Director 179189 0 0 16380 91516 287085 Jennifer Weil Director of Advancement 179492 0 0 16848 131993 328333 Cari Kosins Dir Of Summer & Afterschool 148976 0 0 15912 17247 182135 Margaret Magee Paul High School Principal 154545 0 0 15026 755 170326 Margaret Andrews Middle School Asst Principal 185694 0 0 14850 15114 215658 A Build NYC Resource Corporation 454040561 2023-03-28 7734000 Refinance false false false A 0 0 7579744 0 0 0 154256 0 0 0 0 0 2013 true false true true A false false false 0.00000 0.00000 0.00000 false false false false A false false false true false false 0 false 0 true A true Jennifer Weil Director of Advancement 91334 Tuition Remission EDUCATION Allison Isbell Assistant Director 91334 Tuition Remission EDUCATION Nathan Sokol-Margolis MIDDLE SCHOOL Principal 45677 Tuition Remission EDUCATION SCHEDULE L, PAGE 1, PART III tuition remission is provided to employees as part of their benefit package for the cost of tuition for their children that attend the school. X 10 212933 FMV false true false Schedule M, line 9b The number of items contributed represents the number of stock donations received rather than the number of shares of stock. FORM 990, PART VI, SECTION B - POLICIES, #11B MANAGEMENT REVIEWS the DRAFT COPy OF THE 990 FOR ACCURACY BEFORE CIRCULATING A DRAFT COPY TO THE audit and risk COMMITTEE OF THE BOARD OF TRUSTEES. THE audit and risk COMMITTEE REVIEWS THE DRAFT FOR ACCURACY AND THEN POSITIVELY RECOMMENDS THE DRAFT TO THE BOARD OF TRUSTEES, WHICH IN TURN REVIEWS AND DISCUSSES THE DRAFT AT A REGULARLY SCHEDULED BOARD MEETING. AFTER THIS GOVERNANCE PROCESS, THE 990 IS FINALIZED FOR FILING. FORM 990, PART VI, SECTION B - POLICIES, #15 A&B THE ORGANIZATION OBTAINS THE COMPENSATION DATA RELATING TO TOP MANAGEMENT OF SIMILAR ORGANIZATIONS WHEN CONSIDERING THE INITIAL SALARY AND BENEFITS OF KEY EMPLOYEES, AS WELL AS INCREASES ON COMPENSATION. THE ORGANIZATION ALSO REGULARLY CONSIDERS INDUSTRY TRENDS REGARDING MANAGEMENT compensation. ONCE THE APPROPRIATE DATA HAS BEEN OBTAINED, IT IS ANALYZED AND approved AT A REGULARLY SCHEDULED MEETING OF THE EXECUTIVE COMMITTEE OF THE BOARD OF TRUSTEES. ACCORDINGLY, LREI SATISFIES THE IRS CRITERIA WITH RESPECT TO THE REBUTTABLE PRESUMPTION OF REASONABLENESS. FORM 990, PART VI, SECTION C- DISCLOSURE #19 THE ORGANIZATION MAKES ITS GOVERNING DOCUMENTS AND FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC UPON WRITTEN REQUEST. FORM 990, PART VI, SECTION B- POLICIES, #12C LREI CIRCULATES ITS CONFLICT OF INTEREST AND WHISTLEBLOWER POLICY TO TRUSTEES ON AN ANNUAL BASIS. EACH TRUSTEE IS ASKED TO ACKNOWLEDGE RECEIPT OF THE POLICY AND TO INDICATE COMPLIANCE WITH IT. IF ANY CONFLICT OF INTEREST IS INDICATED ON THE ACKNOWLEDGEMENT, OR IF ANY CONFLICT OF INTEREST OTHERWISE ARISES, THE ISSUE IS ADDRESSED BY THE DIRECTOR OF LREI AND THE CHAIR OF THE BOARD OF TRUSTEES, WHO MAY CONSULT WITH DISINTERESTED MEMBERS OF THE EXECUTIVE COMMITTEE ON THE MATTER. FORM 990, PART III, LINE 1 A leader in progressive education since 1921, LREI teaches children to be independent thinkers who work together to solve complex problems. Students graduate from our diverse community as active participants in our democratic society, with the creativity, integrity, and courage to bring meaningful change to the world. FORM 990, PART III, LINE 4a At LREI (Little Red School House & Elisabeth Irwin High School) we understand that students learn best when they are engaged. Our 14 year progressive program is rooted in a fundamental love of learning and a connection to the real world. Our teachers, experts in their fields, encourage children to use their curiosity, compassion and imagination to think deeply and to participate in finding solutions to real problems. We understand that the world around us - particularly our ever-vibrant home, New York City - is the best place to learn. You'll find our students asking questions about green design at the High Line, filming a documentary on Coney Island's boardwalk and volunteering at the local food pantry we've partnered with for years. We provide a rich and challenging progressive program for bright, inquisitive students who bring a range of abilities and interests to their collective study of the world. Our school is a community built on understanding and respect for others. Like New York City, this community is diverse in every sense, with a variety of family structures and beliefs, as well as other, more familiar definitions of diversity (racial, ethnic, socio-economic, religious). Our interdisciplinary curriculum and school-wide social justice initiatives promote understanding of many cultures. As individual achievement is encouraged and rewarded, our program underscores the value of shared goals and cooperation in mastering difficult tasks. By the time LREI students graduate, they are ready to make their marks on their university campuses because they have learned to be active citizens in their school, city and global communities. FORM 990, PART XI, LINE 9 In connection with the issuance of the Revenue Bonds, Series 2013, in October 2013, the School had an interest rate swap agreement with notional amounts indexed to the outstanding principal of the debt which resulted in an unrealized gain of $70,693 in fiscal year 2023 with the full cancellation of the swap agreement as the related bonds were refinanced during the year ended June 30, 2023.