cristo rey brooklyn high school's 2014 annual report

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2014 Annual Report A School Grows in Brooklyn

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Page 1: Cristo Rey Brooklyn High School's 2014 Annual Report

2014 Annual Report A School Grows in Brooklyn

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Page 2: Cristo Rey Brooklyn High School's 2014 Annual Report

Cristo Rey Brooklyn High Schooltransforms DREAMS into AMBITIONand AMBITION into REALITY.

More than 90% of Cristo Rey Brooklyn graduates enroll in college, more than twice the rate of minority graduates nationally. And students from a Cristo Rey school are twice as likely to graduate from college than their peers from the same economic background.

“The life circumstances of our students may be the reason that drew us to this mission, but that cannot afford to serve as an excuse for not expecting the very best from the young people to whose future we have been entrusted. They are not victims. We may not be able to rewrite their history, but we can help change their future.”

— Bill Henson, President, CRBHS

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Page 3: Cristo Rey Brooklyn High School's 2014 Annual Report

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Letter from The President and Board Chair

Dear Friends,

Over six years ago Lourdes Academy High School, ensconc ed in a former Bushwick, Brooklyn ele-mentary school dating back to WWI, first opened its doors. Days later Wall Street giant Lehman Brothers collapsed, signaling the “Great Recession”. For a NYC start-up school with no alumni, no track record, no public funding, creat-ed expressly for low income students, and depen-dent upon a distinctive work study model, it sig-naled disaster.

For three years, staff and supporters soldiered on, barely able to afford textbooks (never mind an Annual Report), determined to provide a safe, val-ues based college prep education to families who otherwise could not afford one. But reality finally caught up with the school. After much discussion and with support from the Cristo Rey Network and Brooklyn Diocese, the reconstituted board of directors initiated a major restructuring to help turn around the rechristened Cristo Rey Brooklyn High School.

Like a city boulevard after spring thaw, the journey was fraught with potholes. But thanks to numerous dedicated individuals and organiza tions, triumphs far outweighed disappointments. Enroll ment doubled. Leading firms such as Ameri can Express, Wall Street Journal, and Brook lyn Hospital joined early work study sponsors like JPMorgan and Skadden Arps. Original higher education partners, St. Francis and St. Joseph’s were joined by St. John’s, Brooklyn College, and NYU to offer a wealth of unique programs.

This year we aligned with two new organizations: thanks to the Mid-Atlantic Community of the Sisters of Mercy we moved into a legitimate high school facility twice the size of our previous home. We partnered with Boys Hope Girls Hope NY to offer a

boarding program for up to 50 students. Most important, our young people are translating this promise into tangible achievements: over 75% of the Class of 2014 are attending colleges ranked selective or higher, are having full financial need met and are first generation college students!

Three graduating classes, two major partners and one new facility later, the turnaround is largely complete. Cristo Rey Brooklyn is positioned to reach its vision and fulfill its mission. To that end, we launched the $5 million Campaign for Cristo Rey Brooklyn this past year, to provide the growth capital needed to reach even more economically disadvantaged students. In six months we raised more than 50% of our goal thanks to the gener-osity of our many friends.

Inspired and blessed by the commitment of our partners and benefactors, and the success of our young students whose lives are transformed as a result, we eagerly anticipate the successful completion of our campaign and a school growing in Brooklyn for many years to come. Thank you for your support.

Gratefully,

William P. Henson Robert B. Catell President Board Chair

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Page 4: Cristo Rey Brooklyn High School's 2014 Annual Report

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Our Mission and Vision

Cristo Rey Brooklyn is a Catholic high school open to students of all faiths. Our mission is to transform young people of limited economic means into men and women of faith, purpose, and service. By offering a rigorous curriculum, a unique work study experience, and the support of an inclusive school community, we prepare students to succeed in college and beyond with values essential to a fulfilling life.

Our vision is to be considered one of the best high schools in New York as measured by academic achievement, graduation rates, college acceptance and post-graduate success, and to do so without being constrained by labels, qualifiers or reduced expectations (e.g. “low-income,” “inner city,” “minority,” “faith-based”).

“In our minds, our students’ success will not only be measured by whether or not they will be able to be admitted into a competitive college or to move into a job that pays well. We also are committed to empowering students to look at their communities, by becoming the type of person that pays forward the opportunities granted to them for the larger good.”

— Andrew Ketchum, Teacher and Director of Campus Ministry, CRBHS

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Page 5: Cristo Rey Brooklyn High School's 2014 Annual Report

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Our School is Part of a Large, Dynamic and Growing Network

Cristo Rey Brooklyn High School is a member of the Cristo Rey Network: the largest national association of private high schools. Cristo Rey is on the forefront of educational reform, providing a quality, Catholic, college preparatory education to urban young people who live in communities with limited educational options.

The first Cristo Rey School was founded in Chicago by the Jesuits in 1996. It was so suc-cessful that the network has now grown to 28 schools across the country, with two new schools joining the movement in September 2015.

Cristo Rey schools have always been about giving a chance to students who may be short on opportunities but not on ambition, and Cristo Rey Brooklyn High School is no different.

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Page 6: Cristo Rey Brooklyn High School's 2014 Annual Report

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A School Grows in Brooklyn

Brooklyn is the most populous borough in New York. If it were an independent city, it would rank as the fourth largest city in the United States.

The need for a successful Cristo Rey school in Brooklyn is great because:

■■ Nearly half of Brooklyn’s residents live in or on the verge of poverty

■■ Five of the ten poorest census tracts in New York City are in Brooklyn

■■ In Brooklyn’s low-income neighborhoods, the percentage of young people between the ages of 16-24 who are neither in school nor working continues to grow

Who We ServeCristo Rey Brooklyn High School currently serves close to 300 low-income children from some of New York’s highest poverty, highest crime rate areas, including nearby neighborhoods like Bedford Stuyvesant, Brownsville, East New York, and Crown Heights, but also as far away as Co-Op City in the Bronx:

■■ Average per capita income of less than $10,000 per year

■■ Average disposable family income of negative $15,000

■■ Significant majority from single-parent homes

■■ 100% minority students

■■ Many students enter 9th grade below grade level

“The students that we accept are gritty; they’re willing to work.”

— Aris Clemons, Director of Admissions, CRBHS

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Page 7: Cristo Rey Brooklyn High School's 2014 Annual Report

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Meet RAJAE CLARKE Class of 2017 When Rajae Clarke thinks of Cristo Rey Brooklyn, he thinks of family. Rajae and his family moved from Jamaica in the middle of his freshmen year, and he was a rare mid-year transfer to CRBHS. From the moment he walked through the doors of 710 E 37th Street, his classmates, teachers, and staff welcomed him with open arms and helped him adjust to his new community.

“Coming from Jamaica and knowing no one in Brooklyn, everyone at Cristo Rey was very welcoming and became part of my extended family. All the students, teachers, and staff were so willing to help me no matter what.”

Now a sophomore, Rajae has become an integral part of the CRBHS com-munity. He is a star player on the soccer team, serves as student ambas-sador, and engages in various Campus Ministry activities. He credits Cristo Rey with helping him grow into a responsible, young man and pushing him to take on challenges outside of his comfort zone.

Meet ELIANA ALVAREZClass of 2014A freshman at Fordham University, Eliana Alvarez credits Cristo Rey Brooklyn with preparing her for college success. Both the college prep curriculum and the work study experience provided her with the necessary skills for her time at Fordham.

“My time at Cristo Rey Brooklyn taught me how to maintain profession-al relationships with everyone I meet. I am comfortable interacting with professors and deans at Fordham and know how to use these relation-ships to take advantage of all the available resources to help me succeed in college.”

She applies the professional skills learned through her jobs at the Brooklyn Botanic Garden, Cullen & Dykman, and Blackstone to her current work study job at Fordham.

“I know how to behave in a professional environment – to always take notes, to ask questions for clarification, and to always take initiative.”

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They are American.

Dominican. Ecuadorian. Multi-racial.

From Guiana.

They’re New Yorkers. Immigrants.

Living in East New York or Bed Stuy.

They represent a series of firsts.

The first in their family to go to college.

Maybe even high school.

The first to intern at a corporation.

And to earn their high school tuition.

They’re students. Dreamers. Survivors. Strivers.

They are next.

On the verge.

Buds to blossom forth.

Feet poised to run.

And with much to conquer.

They are ready.

— Poem written by the Class of 2013

These children have a far higher chance of being shut out from a quality education solely on the basis of their family income and circumstances. With the opportunities that come with Cristo Rey’s unique model, they transform from a product of their environment to a generation of firsts: the first to go to college, and the first to have the opportu-nity to use their education to rise above, uplifting not only themselves but their families and commu-nities around them.

After attending Cristo Rey Brooklyn, 80% of our students will be the first in their families to go to college.

A Generation of Firsts

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Page 9: Cristo Rey Brooklyn High School's 2014 Annual Report

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Meet MARIAMA BARRY Class of 2015Mariama Barry is still a senior in high school, but she has already spent time on multiple college campuses. During this past summer she attend-ed a three-week college immersion program at Georgetown University, a Cristo Rey Network university partner. With 44 students from other Cristo Rey schools, she took college-level courses, lived in a residence hall, explored Washington, D.C., and interacted with Georgetown students, fac-ulty, and administrators. She continued to take college-level courses back at Cristo Rey Brooklyn through a partnership with St. Joseph’s College.

Every Tuesday she travels with 15 other seniors to the St. Joseph’s campus in Clinton Hill to take a genetics class in the fall and a sociology class in the spring, in addition to a full course load at CRBHS.

Mariama is a part of our boarding program with Boys Hope Girls Hope, an experience that has also helped prepare her for college.

“Living in the dorm has prepared me to live away from home during college. I have been able to be independent and take responsibility for my own education. I have to manage my time to balance my homework, my extra-curricular activities, and other responsibilities.”

Meet ADALBERTO PENA Class of 2015During his four years at Cristo Rey Brooklyn, senior Adalberto Pena has grown into a responsible young man who is a leader both inside and outside the classroom. As an underclassman, he struggled academically, did not participate in class, and shied away from leadership opportunities. Today, he is an active participant in all his classes, consistently seeks out his teachers to improve his academic performance, and serves as both a student ambassador and a peer leader. Last summer, he was part of a group of nine students who traveled to the Dominican Republic on a service trip to help a local community build a sports court.

“Cristo Rey Brooklyn has helped me grow into the person I am today. The teachers and staff have helped me understand the value of this education, pushing me to take advantage of opportunities, and supporting me no matter what.”

“Our strength is the quality of the students we attract. What they lack in academic background, they make up for in motivation and eagerness to succeed.”

— Richard Reyes, Principal, CRBHS

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Page 10: Cristo Rey Brooklyn High School's 2014 Annual Report

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The Corporate Work Study Program that all students at Cristo Rey network schools participate in is an inno-vative educational and financial model enabling students to earn up to half of the cost of their education while gaining real-world experience through immersion in entry-level positions at leading corporations and non-profits.

Students also grow their self-confidence and realize the rele-vance, and real value of their education.

Putting Education to Work

“Our students’ unique experience in the workplace not only gives them exposure to the professional world, but also helps them to mature in ways other high school students do not. They go to college with an understanding of how to be successful as an adult and a kid at the same time.”

— Ed Davey, Director of Corporate Work Study Program, CRBHS

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Page 11: Cristo Rey Brooklyn High School's 2014 Annual Report

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How the Program WorksA team of five students covers one full-time equivalent position without missing class. They work 9:30–5:15 pm, Monday through Friday, from September to June, with an option to work year round.

Companies get motivated and reliable talent for entry level positions without the cost of additional benefits.

For students, it’s a hand-up, not a hand-out. Students obtain their education while gain-ing professional work experience as well as exposure to adult co-workers who have attended college.

Our diverse work study program consists of engaged corporate and non-profit partners who provide our students with paid work experiences. Our students work at businesses of all shapes and sizes — IT, legal, finance, health care, media, and more.

“Cristo Rey goes the next step. They are taking students and putting them into their futures.”

— Stephen Palmese, Massey Knakal, Corporate Work Study Partner, and CRBHS Board Member

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Page 12: Cristo Rey Brooklyn High School's 2014 Annual Report

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Introduction to Our Work Study ProgramAmerican Express: Five Students

Students at American Express work in the Global Real Estate and Workplace Enablement Departments. Students complete a wide variety of tasks including database organization, note keeping, conference room set up and reservations, and research on green initiatives. The students have gained advanced skills in Microsoft Excel and continue to challenge themselves daily.

Brooklyn Hospital: Five Students

At Brooklyn Hospital the students work in several different departments including Women’s Health, Dental, La Providencia Health Clinic, Ambulatory Services, and Volunteer Services. They complete primarily administrative tasks including filling, compiling files for new patients, confirming appointments, and receiving and welcoming patients. The students also have the opportunity to shadow doctors related to the students’ interest in a field of medicine.

JPMorgan Chase: Five Students

At JPMorgan Chase, the students spend a great deal of time on the computer in their role with Operations and Tech Support. They enter investor information into spreadsheets as well as create PowerPoint presentations with investor, portfolio, and budget data. These presentations and spreadsheets prepare the students’ colleagues for meetings and presentations. The student workers also maintain office supplies and support administrative staff.

NYC Service and Mayor’s Office of Special Events: Three Students

NYC Service, one of our newest sites, hosts three students. While the students do a fair amount of administrative work (fil-ing, copying, organizing calendars), they also have the oppor-tunity to assist in large scale service projects like Amazon’s Day of Service. NYC Service operates in conjunction with

the Mayor’s Office of Special Events so students were invited to assist at the Mayor’s Halloween party and the First Lady’s awards reception in October 2014. There, students took a lead-ing role in social media as well as working to prepare the office winter gathering.

Ridgewood Savings Bank: Five Students

At Ridgewood Savings Bank, students work in the Executive, Compliance, Training, and Operations Departments. These departments are in two different locations, both in Brooklyn. In the Training and Operations Department, the students complete data entry projects, create documents, and manage documents including extensive copying, shredding, and filing. In the Compliance Department, the students assist in meeting preparation, filing, and ensure office supplies are organized and available. In the Executive office, the students handle recep-tion extensively. They also assist the Marketing Department in preparing for special events such as the upcoming Costumes for Care event.

Wilson Elser: Four Students

At the law firm Wilson Elser Moskowitz Edelman and Dicker LLP, students serve as staff assistants. Their daily activities consist of data entry, file management, and document creation. Students are challenged to communicate and follow-up in a fast paced environment. They gain computer skills, strengthen their atten-tion to detail, and learn independence at Wilson Elser.

“The Cristo Rey work study program provides students with exposure to a professional environment that sets them both apart and ahead. They are prepared to take on future internships, college, and to enter the workforce with confidence.”

— Kelly Ong, Weitz & Luxemberg, Corporate Work Study Partner

2014$1,184,3962013

$1,033,3472012

$780,000

201459

2013462012

41

Revenue from CWSP Number of CWSP Sponsors

CWSP - pg 10 - no changes

Financial Statements - pg 14 - revised

Cost per student - pg 13 - revised

0

5,000

10,000

15,000

20,000

25,000

$30,000

2013 – 2014

Cost per student — Cristo Rey Brooklyn vs. NYC Public School

New York City

$21,235

$12,480

Cristo Rey Brooklyn

Sources: 1. Cristo Rey Brooklyn High School’s 2014

Consolidated Financial Statements. 2. Independent Budget Office; New York

Comptroller Comprehensive Annual Financial Report; New York City Department of Education

Corporate Work Study Program

Campaign Donations

Other Income/Sources

Fundraising

Tuition & Fees

2013–2014 Sources of Cash

Instruction and School Activities

General and Administrative

Development

Operations and Plant Management

2013–2014 Uses of Cash

Corporate Work Study Program

Campaign Donations

Other Income/Sources

Fundraising

Tuition & Fees

2013–2014 Sources of Cash

Instruction and School Activities

General and Administrative

Development

Operations and Plant Management

2013–2014 Uses of Cash

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Page 13: Cristo Rey Brooklyn High School's 2014 Annual Report

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Our New Boarding ProgramCristo Rey Brooklyn is the only school in the Cristo Rey Network to offer a boarding program. We have partnered with Boys Hope Girls Hope New York (BHGHNY) to offer a unique, on-campus residence program where up to 50 young women reside Sunday – Friday while school is in session. As part of the program they receive additional academic support, profes-sional development, and enrichment opportunities to complement their curriculum.

Cristo Rey Brooklyn is pleased to welcome these young women into our family and is grateful for the support of BHGHNY that has enabled us to extend our admissions reach beyond the Brooklyn and Queens commu-nities, and to offer a viable residential alternative to female students who face especially challenging home situations.

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Page 14: Cristo Rey Brooklyn High School's 2014 Annual Report

On The Road to Success

12

After opening our doors six years ago, at the advent of the 2008 recession, and successfully overcoming the economic and enrollment chal-lenges of our start-up years, Cristo Rey Brooklyn is now poised to emerge as a preeminent and permanent college preparatory resource for many more underserved students and families in the New York metro area.

In our short history, Cristo Rey Brooklyn has a demonstrable track record of:

1. Academic Achievement:

■■ Two year, 30% gain in ACT scores at Cristo Rey Brooklyn (above the national average for minority students)

2. Enrollment:

■■ Tripled enrollment since 2010

3. College Access and Matriculation:

■■ 100% 4-year college acceptance for all three graduating classes

■■ The Class of 2014 received over 400 accept-ances from more than 125 colleges and univer-sities, and they earned $11 million in scholar-ships and grants

■■ 81% of the Class of 2014 is attending schools ranked selective or higher, including Providence College, Fordham University, College of the Holy Cross, Franklin & Marshall College, Georgetown University, Mt. Holyoke College, Syracuse University, and Villanova University

■■ Our 85% college persistency rate exceeds by a wide margin the retention rate for all students regardless of socio-economic status

“We have crafted an individualized college placement process that ensures that our graduates enroll at colleges that challenge them academically and support them financially: And our 85% retention rate (94% for our most recent graduates) says that they are largely succeeding once they get there.”

— Enuma Menkiti, Director of College Guidance, CRBHS

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Page 15: Cristo Rey Brooklyn High School's 2014 Annual Report

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A Financially Sustainable Model

Not only is the cost of education at Cristo Rey Brooklyn 59% (or less) of the cost of a New York City public school education ($12,480 CRBHS, grades 9-12 vs. $21,235 NYC, grades K-12), it provides New York taxpayers with significant savings given Cristo Rey’s lower cost and min-imal public funding. It also offers an innovative

and efficient economic model given its founda-tion in shared responsibility. Cristo Rey families pay between $750 – $2,000 per year, students contribute more than $6,000 themselves via their Corporate Work Study earnings, and contributions from generous supporters fund the balance.

“In a time when too many Catholic schools and nonprofits are closing as a result of financial challenges, Cristo Rey Brooklyn is achieving and refining our financial sustainability through the corporate work study model combined with savvy long term decisions like moving to a new building and launching a 5-year fundraising campaign.”

— Emily Cunningham, Director of Finance & Operations, CRBHS

2014$1,184,3962013

$1,033,3472012

$780,000

201459

2013462012

41

Revenue from CWSP Number of CWSP Sponsors

CWSP - pg 10 - no changes

Financial Statements - pg 14 - revised

Cost per student - pg 13 - revised

0

5,000

10,000

15,000

20,000

25,000

$30,000

2013 – 2014

Cost per student — Cristo Rey Brooklyn vs. NYC Public School

New York City

$21,235

$12,480

Cristo Rey Brooklyn

Sources: 1. Cristo Rey Brooklyn High School’s 2014

Consolidated Financial Statements. 2. Independent Budget Office; New York

Comptroller Comprehensive Annual Financial Report; New York City Department of Education

Corporate Work Study Program

Campaign Donations

Other Income/Sources

Fundraising

Tuition & Fees

2013–2014 Sources of Cash

Instruction and School Activities

General and Administrative

Development

Operations and Plant Management

2013–2014 Uses of Cash

Corporate Work Study Program

Campaign Donations

Other Income/Sources

Fundraising

Tuition & Fees

2013–2014 Sources of Cash

Instruction and School Activities

General and Administrative

Development

Operations and Plant Management

2013–2014 Uses of Cash

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Page 16: Cristo Rey Brooklyn High School's 2014 Annual Report

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Consolidated Statements of Financial Position June 30,

2014 2013AssetsCurrent Assets Cash and cash equivalents $ 84,004 $ 215,521 Tuition receivable 22,805 7,404 Contract receivable 57,483 34,250 Contributions receivable 588,500 100,000 Prepaid expense 4,967Other receivables 20,651 – Total Current Assets 773,443 362,142 Non Current Assets Contributions receivable 1,411,437 24,390 Property and equipment, net 112,437 232,334 Total Non Current Assets 1,523,874 256,724

$ 2,297,317 $ 618,866 Liabilities And Net AssetsCurrent Liabilities Accounts payable and accrued expenses $ 139,330 $ 4,963 Current portion of note payable 83,000 17,000 Deferred revenue 193,693 200,370 Straight line rent adjustment 40,412 – Other liabilities 91,456 71,562 Total Current Liabilities 547,891 353,895 Non Current Liabilities Due to Our Lady of Lourdes Parish – 91,657 Due to Diocese of Brooklyn – 641,572 Note payable, net of current portion 179,000 – Total Liabilities 726,891 1,087,124 Net Assets (Deficit) Unrestricted (429,511) (817,648) Temporarily restricted 1,999,937 349,390 Total Net Assets 1,570,426 (468,258)

$ 2,297,317 $ 618,866

Cristo Rey Brooklyn High School Consolidated StatementsJuly 1, 2013 – June 30, 2014

2014$1,184,3962013

$1,033,3472012

$780,000

201459

2013462012

41

Revenue from CWSP Number of CWSP Sponsors

CWSP - pg 10 - no changes

Financial Statements - pg 14 - revised

Cost per student - pg 13 - revised

0

5,000

10,000

15,000

20,000

25,000

$30,000

2013 – 2014

Cost per student — Cristo Rey Brooklyn vs. NYC Public School

New York City

$21,235

$12,480

Cristo Rey Brooklyn

Sources: 1. Cristo Rey Brooklyn High School’s 2014

Consolidated Financial Statements. 2. Independent Budget Office; New York

Comptroller Comprehensive Annual Financial Report; New York City Department of Education

Corporate Work Study Program

Campaign Donations

Other Income/Sources

Fundraising

Tuition & Fees

2013–2014 Sources of Cash

Instruction and School Activities

General and Administrative

Development

Operations and Plant Management

2013–2014 Uses of Cash

Corporate Work Study Program

Campaign Donations

Other Income/Sources

Fundraising

Tuition & Fees

2013–2014 Sources of Cash

Instruction and School Activities

General and Administrative

Development

Operations and Plant Management

2013–2014 Uses of Cash

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Page 17: Cristo Rey Brooklyn High School's 2014 Annual Report

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Consolidated Statements of Activities Year ended, June 30

2014 2013RevenueSchool Revenue Tuition, net of scholarships of $203,948 and $223,236 $ 298,052 $ 158,384 Sponsor contracts (CWSP) 1,184,396 1,033,347 Forgiveness of debt 508,229 – Student lunch fees 107,770 – Other 108,068 58,579 Total School Revenue 2,206,515 1,250,310 Public Support Donations 2,768,535 1,010,267 Special fundraising events, net of expenses of $41,722 and $33,437 165,438 98,345 In-kind donations 18,146 3,130 Net assets released from restriction – – Total Public Support 2,952,119 1,111,742 Investment Income Interest income 83 78 Total Revenue 5,158,717 2,362,130 ExpensesProgram Services Instruction and school activities 1,759,204 1,391,681 Operation and maintenance of plant 564,008 329,939Supporting Services General and administrative 627,205 498,615 Development 169,616 135,283 Total Expenses 3,120,033 2,355,518 Change in Net Assets 2,038,684 6,612Net Assets (Deficit)Beginning of year (468,258) (474,870)

End of year $ 1,570,426 $ (468,258)

Consolidated Statements of Cash Flow Year ended, June 30

2014 2013

Change in net assets $ 2,038,684 $ 6,612Adjustments to reconcile change in net assets to net cash from operating activities Depreciation 30,214 49,350 Forgiveness of debt (508,229) (1,500) Loss on abandoment of fixed assets 130,984 – Changes in operating assets and liabilities Tuition receivable (15,401) (3,459) Contract receivable (23,233) (34,250) Contributions receivable (1,875,547) (124,390) Prepaid expense 4,967 (4,967) Other receivables (20,651) – Accounts payable and accrued expenses 74,367 16,090 Deferred revenue (6,677) 66,420 Due to Our Lady of Lourdes Parish – 30,118 Due to Diocese of Brooklyn (225,000) 104,213 Straight line rent adjustment 40,412 – Other liabilities 19,894 (13,975) Net Cash from Operating Activities (335,216) 90,262

Cash Flows From Investing Activities Purchase of property and equipment (41,301) (8,452)

Cash Flows From Financing ActivitiesBorrowings under loan payable 250,000 –Payments on notes payable (5,000) – Net Cash from Financing Activities 245,000 – Change in Cash and Cash Equivalents (131,517) 81,810

Cash And Cash Equivalents Beginning of year 215,521 133,711

End of year $ 84,004 $ 215,521

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Page 18: Cristo Rey Brooklyn High School's 2014 Annual Report

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“Our core mission is as much, if not more, one of morality, values, and character as it is of reading, writing, and arithmetic. If successful with the former, the latter becomes far easier.”

— Bill Henson, President, CRBHS

■■ Maintain family affordability with low required tuition contributions, including growing the num-ber of our corporate work study partnerships so that revenue contribution is increased from 40% to more than 50% within the next five years

■■ Significantly grow enrollment to 400 students within the next five years

■■ Expand our boarding program and partnership with BHGHNY

■■ Provide a robust, well-rounded learning environ-ment with necessary resources, including great-er technology, a more varied and challenging curriculum, and enhanced academic support and extra-curricular programs

■■ Recruit, develop, and retain an expanded faculty

Our Future Goals

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Page 19: Cristo Rey Brooklyn High School's 2014 Annual Report

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“From an educational investor perspective, you have the best of both worlds; you have the excitement of something in its growth stage, but not the same risk. We’re part of a proven network.”

— Danielle DiCerbo, Director of Advancement, CRBHS

Cristo Rey Brooklyn High School 2013 – 2014Board of DirectorsRobert B. Catell,

Chair and Chief Executive Officer, KeySpan Corporation (Retired)

Nicholas Caiazzo Partner, Wilson Elser

Moskowitz Edelman & Dicker LLP

Arthur F. Dignam Chief Executive Officer,

DeSales Media Group Inc.Thomas F. Flood Vice President for

Development, St. Francis College

Daniel Geoghan Partner, Cole, Schotz,

Meisel, Forman & Leonard P.A.

Reverend Monsignor Kieran E. Harrington, V.E.

Vicar for Communications, Diocese of Brooklyn & President and Chairman, DeSales Media Group Inc.

Eric M. Hellige Partner, Pryor Cashman LLPWilliam Henson, Ex-officio member,

President, Cristo Rey Brooklyn High School

Andrew T. Hughes VP Relationship Manager,

Commercial Lending of TD Bank

William Jacobi Chairman of Nielsen Media

(Retired)

Joan Murphy Director, Development and

Public Affairs, Catholic Charities of Brooklyn (Retired)

David Napell Founder, Encore Promotions

(Retired)Catherine O’Hara Director, Head of Consultant

Relationships, State StreetStephen Palmese Vice President of Sales,

Massey Knakal Realty Services

Ian Ruddle Principal, Deloitte Consulting

LLP (Retired)Brian J. Smith Co-Founder and CEO, Argent

Development GroupMichael Strauss Chairman and CEO,

BSafeElectric, Inc

Advisory CommitteeDan Geoghan, ChairLauren AltermanDennis BarrettMichelle ConleyStephanie CraneEmily CunninghamDanielle DiCerboSteve FloresMatt FreimuthWill HensonKaren HoganKatie KennyMolly KerwinKathleen KetchumMatthew LaurinoKathleen MarrenMatt McConnellAlex NordholmKevin O’NeillRoger Oliver

Peter OtokiMeagan PaganoDmitri PchelinstevJamie PoskinPatrick SheaBrittany TaylorElizabeth WalmsleyEleanor Winn

Higher Education PartnersBrooklyn CollegeFordham UniversityNew York UniversitySt. Francis CollegeSt. John’s UniversitySt. Joseph’s College

Corporate Work Study Program Sponsors ACE GroupAECOMAlzheimer’s Foundation

of AmericaAmerican ExpressAnimal Medical CenterAvison YoungBlackstone GroupBlue Pearl Veterinary PartnersBoys Hope Girls Hope

New YorkBrooklyn Borough President’s

OfficeBrooklyn Botanic GardenBrooklyn Chamber of

CommerceBrooklyn CollegeBrooklyn District Attorney’s

OfficeBrooklyn Hospital CenterBrooklyn Law SchoolBrooklyn Music SchoolBulldog VenturesCatholic Foundation of

Brooklyn & Queens

CITYarts, Inc. Colleran, O’Hara & MillsColumbia Utilities Congresswoman VelaquezCullen and DykmanDeSales Media GroupDesign Development NYCDime Savings Bank of

WilliamsburghDiocese of BrooklynDr. De Costa Medical PracticeDr. Jeffers Medical PracticeDr. Plotycia Medical PracticeEmpire Blue Cross Blue ShieldExpeditors InternationalFamily Services Network

of New YorkFlatbush Development CorpFlatbush Services Network

of New YorkFlatbush YMCAFlushing Financial CorporationForest City RatnerHudson Clean Energy PartnersIdeal Department StoreJones DayJPMorgan ChaseJunior Achievement

of New YorkKatten Muchin RosenmanLatham & WatkinsLewis Johs Avallone Aviles Live Person, Inc. Long Island UniversityMacy’s Mark Morris Dance GroupMassey Knakal Realty

ServicesMeaden & MooreMenaker and HerrmannMercy Home New YorkMitchell Martin, Inc.

Muriel & Bert Brodsky Family Foundation

National GridNational Urban FellowsNew York Community

Bank Corp New York University Northfield BankOur Lady of RefugePlatinum MaintenanceProtiviti, Inc.Pryor CashmanRichmond County Savings

FoundationRidgewood Savings BankRiverway Senior CenterRocklyn Asset CorpScopia Capital Management

LLCSkadden, Arps, Slate,

Meagher & FlomSt. Boniface ChurchSt. Francis CollegeSt. Jerome ChurchSt. Louis Senior CenterSt. Vincent FerrerTD BankTDF FoundationUnited States Federal

District CourtUnited Way of Long IslandUnited Way of New York CityWall Street JournalWeil Gotshal & MangesWeitz & Luxenberg Zoetis (formerly Pfizer

Animal Health)

Thank You

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Donors$100,000+: Catherine McAuley CircleThe Carson Family

Charitable Trust Robert CatellDeSales Media Group, Inc.

$50,000 - $99,999: Our Lady of Lourdes Circle The Louis Calder Foundation Empire Blue Cross Blue ShieldWilliam & Mary HensonNational Grid Foundation

$25,000 - $49,999: St. Ignatius Loyola CircleColleran, O’Hara & Mills, LLPColumbia Utilities, LLCAndrew & Mary Ellen CoyneFidelis Care New YorkForest City Ratner CompaniesFutures in EducationHudson Clean Energy PartnersING Financial ServicesWilliam & Anne JacobiNorthfield BankPfizer Animal HealthDavid & Sue Viniar

$10,000 - $24,999: St. Vincent Ferrer CircleBruce Ratner Family FundKinney Memorial FoundationLoras CollegeStephen PalmeseThe Patrina Foundation Richmond County Savings

FoundationMichael StraussTDF FoundationTwo Trees Management Co.James & Julie Tynion United Way of Long Island

$5,000 - $9,999: Sr. Mary Vincent Haire Circle Black & Indian Mission

Committee Bert & Muriel BrodskyBulldog VenturesFrank Della FeraJohn & Catherine DoughertyThomas & Eileen FloodElizabeth JamesFrank & Kathleen Lauinger Rita MurrayLewis RanieriRichard & Stacey RosenthalBrian Smith & Patricia RyanBrian & Erika Tucker

$1,000 - $4,999: St. Martin of Tours CircleThad Alston & Kari GloverGeorge BilicicBoys Hope Girls Hope of

New York, Inc.John Brennan & Fran SullivanJim & Patricia BurnsNicholas CaiazzoCity Employees Union

Local 237Clad Rex, Inc.Stephen & Joni CordyMichael DaddioAlfonse D’AmatoEd & Patricia DaveyPeter & Maureen DiCapuaLaurence & Claire DonnellyBrendan & Barbara DuganEllen EliaPatrick FarrellFrank & Mary FitzpatrickSteve & Susanna FloresBrian & Diane FlynnMatt & Renee FreimuthBill GarrettRobert & Peggy Gartland

John & Paula GavinEdward & Kathleen GentnerDaniel & Connie GeoghanJoseph & DeAnne GeoghanMsgr. Jamie GigantielloFranklin Green &

Joan Shapiro GreenJohn & Rebecca HalleronDavid & Brenda HarmsMark & Pam HensonTom & Liz HensonHinman Straub P.C.Hofstra UniversityAndrew & Sarah HughesRichard & Mary Beth KetchumLCG Community Services, IncElizabeth MarrenGeorge & Mary Jane

McCartneyPeter & Carol McNierneyJeremy & Anne MindichTerence MullinKyle & Tracy MumfordEmily NammacherDavid & Elsie NapellNew York Athletic Club

Athlete’s FundCatherine O’HaraOxford & Simpson Realty

Services, IncJoseph & Mary PiscinaPitta & Giblin LLPThe Posillico FoundationColin PowellJoseph & Carol ReillyRidgewood Savings BankBrad & Elizabeth RobinsGregory & Linda SerioBrian SheaNancy SheaSean & Nancy SullivanElizabeth SummerhayesTimothy & Gretchen Teran

James ThompsonPaul J. TonnaEdith Van SlyckGeorge Ward & Sandra

GuralnickWeitz & Luxenberg PCJane B. & Eugene E. White

Family FoundationJohn & Stephanie WhittierMark & Patty Willis

$500 - $999: San Damiano CircleStephen AbbaAlex and Ani, LLCDebra AllenRobert & Lori AnzilottiBounds Equity Partners, LLCMichael CastilloKathleen CondonJohn & Holly CunninghamTerence & Allison CurleyAnthony & Frances

DeLaurentisJoseph Drucker & Kathleen

Stoddart DruckerMichael DuganRichard & Christine EmersonZach & Heather FehstRyan & Kerri FitzgeraldRichard FunessLauren GradyBrian & Ellen HennesseyMark & Sue HoldenKathleen KetchumJohn LoconsoloDennis & Lucy LucRichard LuftLaurence LynchMarsh & McLennan

CompaniesFrank MarzanoMatt McConnellGeorge & Patricia McEachern

Arthur & Kim McGinnisMitchell Martin, Inc.Mike & Janny NealyNew York Community BancorpOkapi Partners, LLCJohn & Rhonda OllquistCraig & Julie O’NeillJim Parisi & Sophie

Jacobi ParisiSteve & Roberta PlotyciaEugene & Frances PorcaroPryor Cashman LLPThomas & Seraphim ReycraftIan RuddleAndreas SchlaepferSt. Vincent Ferrer R.C. ChurchSeymour SternbergVictor Wright

Up to $499: Friends of Cristo ReyAlexandra AmodeiEileen AcuriJoseph & Lisa ArgentoRob ArmstrongBenj & Anne BahrElizabeth BaltzDennis BarrettSean Barry & Elizabeth MarrenMelissa BenjaminThomas & Bridget BennettKaitlyn BergGary & Donna BorgeseBrenda BowenDavid & Cynthia BrownMark BullerRalph BumbacaElizabeth BurnsRaymond BurnsDiana ByrneThomas & Paula CanningJohn CaroselliJennifer Carson

“More often than not, when talking to a Cristo Rey student, they will tell you that one of their favorite things about being a student at a Cristo Rey school is the Corporate Work Study Program. Their story usually starts something like, ‘I used to be shy and nervous talking to adults, but now I am confident.’ Students also get enlightened as to what career path they really want to pursue.”

— Emma Andrews, Math Teacher, CRBHS

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Leslie CaulfieldEdward & Janet CavanaghWarren ChengDon ChoiRonald & Mimsie CieciuchGinine CilentiKenneth & Carol ClancyAris ClemonsTimothy & Amy ClyneMichael CohenRichard ConleyNatalie CorderoStephanie CraneJohn CroninEmily CunninghamJay & Beth CunninghamAnthony CuomoJoseph CzerniawskiBrian DalyPJ DamelioMike & Ruth DavinFausto De la Rosa ManonGerald De MaioBill & Rita DeLaurentisCaitlin DeLaurentisJohn DellipriscoliStephanie DesangesDeutsche Bank Americas

FoundationDanielle DiCerboBishop Nicholas DiMarzioKara DooleyBill DoranChris DormentMike DoyleThomas & Michelle DoylePatrick & Marysol DuffyJoseph DuganAnne EdwardsMargaret EllisonSean EnglesKristy Everington

Caitlin FaganChristine Fehst & George

Schwartz IIIWalter & Linda FehstAlan & Lois FieldsFillmore Real Estate,

A.R. Conelly Inc.Joel & Lisa FisherFlorence FotiKathryn GaglioneSophia GarciaMegan GeckleJohn GilchristLaura GoodmanJohn & Alice GordonAramis GrantEve GrimaldiVeRonica HarrisWilliam HarveyJ. & Rosemary HaysEric & Katherine HellgrenMargaret HellgrenEric & Susan HelligePatricia HensonWill HensonCliff & Anne HesseJoseph HirschKaren HoganThomas & Susan HoganDavid HurstFelix & Consuelo IglesiasSal & Vicki IngrassiaOliver JacobiFred & Lisa JamesKathleen JamesGuthrie JonesKevin M. KearneyTom Keith & Barbara BurgerCourtney KemperCarolyn KennyMolly KerwinAndrew Ketchum

John & Lisa KiernanKevin KitsonJen KrasowskiJohn & Linda KrasowskiLisa LaGrattaRobert & Norma LandisJennifer LanzaJohn & Mary LavelleThomas & Elizabeth LavinJea LeeMeghan LeeMichael LeFortNicole LeissingLincoln Middle SchoolJoseph LoefflerHoward & Gayle LucksDarren Luft & Christine RomanMaggie MacdonaldKenneth MalikPatrick ManningRoy & Charon MardenWilliam & Claire MarmionEmily MartucciLyn MaxnerMarielizabeth McKeonDorothea MehlRuth MelsbachEnuma MenkitiGeoffrey MiddletonTom & Louise MiddletonRichard MilinShoshana MillerPaul & Annette MoralesHelen MoslanderJohn MullerEric Munson & Kathy SheaPatrick MurphyVincent Murray & Jody

FitzpatrickNina NelsonAlex NordholmJohn Notaro

Msgr. Joseph NugentErica OleskeKevin O’NeillJon & Colleen O’RourkePeter OtokiRocco PapandreaBruce & Carol PattersonMelissa PaulMax PaulsenDmitri PchelintsevAaron PereiraGarrett PhilbinJames PoskinStephen & Mary QuintinAlexandra RaponiChristopher RavnKatie ReillyHoward & Claire RennellPeter RestlerMegan RiceAndrew RiellyFrederico Riera-MarsaBrandon & Sarah RobertsPaige RobertsonHelen RocheJean SchaefleLouis & Amanda SchedeSandra SchlaepferClinton Schmieg, Jr.Jeremiah SchneiderTimm SchneiderAlexander ShilkrutMichael & Margaret SilaneDonald & Cecilia SkalaEdward & Cathy SmithBenjamin SokolySt. Jerome Roman

Catholic ChurchElizabeth StarkMark & Kimberly StewartKevin TarcaBrittany Taylor

George & Marilyn TippettRuss & Naomi TorrisiBob & Marie TracyNicole ValentineLiz VazquezHoward & Barbara WadzukBruno & Kathy WalmsleyKevin WenzelHeidi WheelerDavid WhelanWilliam WhelanKeith WilliamsAlbert Wiltshire

In-Kind Donations16 HandlesAlignAmaliAmple Hills CreameryBenj & Anne BahrBalzer & BraySean Barry & Elizabeth MarrenChristopher BastaBodumBRICBrightful Day SpaBrooklyn Botanic GardenBrooklyn FlavorsBrooklyn NetsBrooklyn Slate Co.Megan CaceresRobert CatellCathy’s Biscotti &

Sweet TreatsChildren’s Museum of the ArtsAnthony & Frances

DeLaurentisDesign Development NYC, Inc.Empire State Building

ObservatoryPatrick FarrellRyan & Kerri FitzgeraldThomas Flood

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Get Involved

“Some of Cristo Rey’s strengths are the ability to dream big and grow. We started off a small school of about 100 students in an elementary school building, but now we have almost 300 students in a high school building.”

— Ralph Meristil, Class of 2015, CRBHS

Joseph & Kathleen GeoghanJohn Gilchrist Giorgio ArmaniGlen Head Flower ShopGlobal Works, Inc.Harbor Fitness GymWilliam & Mary HensonBrittany HerreraK Sports & EntertainmentKevin M. KearneyPatricia LaPortaJennifer LiseoAlan LoefflerWilliam LopaMacmillan Children’s

Publishing GroupMacy’sManhattan Theatre ClubDavid MarrenElizabeth MarrenKathleen MarrenMohonk Mountain HouseMohonk PreserveTerence MullinEric Munson & Kathy SheaJoan Murphy Music for AardvarksNew York Theatre BalletNickelodeonCatherine O’HaraChris & Kelly O’HaraOkemo Mountain ResortParc 55 Wyndham

San Francisco Union SquareDean PollJames PoskinSilk Day SpaSusan SiminowBrian Smith & Patricia RyanSoulCycle

Southampton Publick HouseSpiff for MenStrand BookstoreTimothy & Gretchen TeranTerme di Saturnia at Studio 57

Skin & Body Care, Inc. The Cooper Spirits CompanyThe Irish Repertory Theatre

Company, Inc.Tom Ford International, LLCTwo Little Red HensVineyard VinesWalin & WolffWestminster Kennel ClubWhistlePig Straight

Rye WhiskeyWildlife Conservation Society

In order to provide more opportu-nities to more students, we seek more individuals, companies, and organizations to partner with us. Your support of our mission through donation, as a work study sponsor or volunteering is invaluable in help-ing us instill in our young people the confidence, the skills, and the determination to assume successful ownership for their education and their future.

Please visit us at www.http://cristoreybrooklyn.org to find out how you can help our students thrive.

In-Kind Donations, (continued)

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Page 23: Cristo Rey Brooklyn High School's 2014 Annual Report

Cristo Rey Brooklyn High School wishes to thank the Taproot Foundation for its service grant support in preparing this Annual Report.

Color Photography: Alejandro Barragan

Background photography: Alejandro Barragan; Stanley Kulp

Cover photography: Howard Beach Studios; Stanley Kulp

Annual Report Published by Cristo Rey Brooklyn High School

Copyright ©2015 Cristo Rey Brooklyn High School.

All rights reserved.

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