New School
- Assets
- $662.1k
- Revenue
- $540.7k
- Investments
- $0.0
- Employees
- 17
- Location
- Kennebunk, ME
- Founding
- 09/2002
- Data as of
- 06/2022
- EIN
- 01-0547297
Organization Overview
New School is located in Kennebunk, ME. The organization was established in 2002. According to its NTEE Classification (B25) the organization is classified as: Secondary & High Schools, under the broad grouping of Education and related organizations. As of 06/2022, New School employed 17 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. New School is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 06/2022, New School generated $540.7k in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 4.8% each year. All expenses for the organization totaled $512.5k during the year ending 06/2022. While expenses have increased by 3.4% per year over the past 7 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
TO PROVIDE AN EMPOWERING HIGH SCHOOL EDUCATION IN A DEMOCRATIC, SELF-DIRECTED LEARNING ENVIRONMENT.
Describe the Organization's Program Activity:
Part 3 - Line 4a
ALTERNATIVE EDUCATION AT THE HIGH SCHOOL LEVEL FOR 30-40 STUDENTS PER YEAR.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Jonathan Goldberg Trustee | Trustee | 1 | $0 |
David Jones Treasurer | OfficerTrustee | 3.5 | $0 |
Amy Wentworth Secretary | OfficerTrustee | 1 | $0 |
Nancy Goldberg Vice Chair | OfficerTrustee | 1.5 | $0 |
John Harcourt Trustee | Trustee | 1 | $0 |
Thomas Kittredge Chair | OfficerTrustee | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | -$3,038 |
| Related organizations | $0 |
| Government grants | $70,000 |
| All other contributions, gifts, grants, and similar amounts not included above | $123,080 |
| Noncash contributions included in lines 1a–1f | $1,010 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $190,042 |
| Total Program Service Revenue | $261,766 |
| Investment income | $8,278 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $240 |
| Net Gain/Loss on Asset Sales | -$21 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $74,253 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $540,701 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $38,462 |
| Compensation of current officers, directors, key employees. | $28,847 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $256,061 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $1,100 |
| Payroll taxes | $23,189 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $7,858 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $20,526 |
| Office expenses | $0 |
| Information technology | $4,208 |
| Royalties | $0 |
| Occupancy | $12,915 |
| Travel | $2,768 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $23,244 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $25,658 |
| Insurance | $15,528 |
| All other expenses | $3,926 |
| Total functional expenses | $512,455 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $23,458 |
| Savings and temporary cash investments | $111,897 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $16,832 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $10,000 |
| Prepaid expenses and deferred charges | $3,846 |
| Net Land, buildings, and equipment | $357,593 |
| Investments—publicly traded securities | $138,492 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $662,118 |
| Accounts payable and accrued expenses | $56,946 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $503,894 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $560,840 |
| Net assets without donor restrictions | -$128,292 |
| Net assets with donor restrictions | $229,570 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $662,118 |