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Nonprofit · EIN 85-3616971

FRIENDS OF VALENCE PREP INC

Tax-exempt · QUEENS, NY 11374

Financials

$3.3M$3.1M2022$3.4M$3.2M2023$3.3M$3.6M2024
Revenue Expenses · by fiscal year end
Financials of FRIENDS OF VALENCE PREP INC by year, from its e-filed returns
Year endedFormRevenueExpensesNet incomeTotal assetsLiabilitiesNet assets
June 30, 2025990$3,275,088$3,557,182-$282,094$45,737,414$45,330,168$407,246
June 30, 2024990$3,430,406$3,232,588$197,818$46,244,872$45,555,532$689,340
June 30, 2023990$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.

NameTitleHours / weekCompensation
LUKE DEGROSSICHAIR
Trustee or director, Officer
1$0
BESK PRYORTREASURER
Trustee or director, Officer
1$0
ANGELA GUERREROSECRETARY
Trustee or director, Officer
1$0
990 for the year ended June 30, 2024: 3 people
NameTitleHours / weekCompensation
LUKE DE GROSSICHAIR
Trustee or director, Officer
1$0
BESK PRYORTREASURER
Trustee or director, Officer
1$0
ANGELA GUERREROSECRETARY
Trustee or director, Officer
1$0
990 for the year ended June 30, 2023: 3 people
NameTitleHours / weekCompensation
LUKE DE GROSSICHAIR
Trustee or director, Officer
1$0
BESK PRYORTREASURER
Trustee or director, Officer
1$0
ANGELA GUERREROSECRETARY
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
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

990 for the year ended June 30, 2025

Program accomplishments

  • RENTAL OF BUILDING TO THE CHARTER SCHOOL
    Expenses $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 yearYear endedDueIRS public records
2025June 30, 2026November 16, 2026Not due yet
2024June 30, 2025November 17, 2025990 on file
2023June 30, 2024November 15, 2024990 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

FormYear endedRevenueExpensesAssetsReturn
990June 2025$3,275,088$3,557,182$45,737,414IRS
990June 2024$3,430,406$3,232,588$46,244,872IRS
990June 2023$3,332,459$3,118,305$46,099,444XML
990June 2022$3,132,834$2,925,308$1,442,930IRS

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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