New Century Academy
- Assets
- $6.2m
- Revenue
- $3.0m
- Investments
- $0.0
- Employees
- 53
- Location
- Hutchinson, MN
- Founding
- 08/2002
- Data as of
- 06/2022
- EIN
- 02-0574622
Organization Overview
New Century Academy is located in Hutchinson, MN. The organization was established in 2002. According to its NTEE Classification (B29) the organization is classified as: Charter Schools, under the broad grouping of Education and related organizations. As of 06/2022, New Century Academy employed 53 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. New Century Academy 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 Century Academy generated $3.0m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 6.5% each year. All expenses for the organization totaled $2.8m during the year ending 06/2022. While expenses have increased by 7.1% 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 ENGAGE STUDENTS IN CRITICAL THINKING AND TEAMWORK THAT EMPOWERS THEM TO LIFE-LONG LEARNING.
Describe the Organization's Program Activity:
Part 3 - Line 4a
GENERAL EDUCATION: NEW CENTURY HAS BUILT A STRONG CORE ACADEMIC PROGRAM, ELECTIVE COURSES FOR STUDENTS TO EXPLORE, AND PROJECT-BASED OPPORTUNITIES TO HELP KIDS BEGIN DISCOVERING THEIR PASSIONS AND DREAMS. WE ARE FOCUSED ON LEARNING FIRST, GROWING EVERY DAY, AND PREPARING GLOBAL CITIZENS FOR AN EVER-CHANGING 21ST CENTURY. NEW CENTURY IS A PLACE WHERE EXPECTATIONS ARE HIGH AND LEARNING IS EXCITING! AVERAGE DAILY MEMBERSHIP WAS APPROXIMATELY 129 STUDENTS FOR THE YEAR ENDED JUNE 30, 2022.
FOOD SERVICE: NEW CENTURY OFFERS ALL STUDENTS A HOT LUNCH EACH DAY. THE SCHOOL PARTICIPATES IN THE NATIONAL LUNCH PROGRAM.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Jason Becker Executive Director | OfficerTrustee | 40 | $89,228 |
Kelsey Dolge Vice Chair/teacher | OfficerTrustee | 42 | $49,321 |
Kathy Prellwitz Chair | OfficerTrustee | 6 | $0 |
Jetta Mylykangas Treasurer | OfficerTrustee | 2 | $0 |
Traci Shutz Secretary | OfficerTrustee | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $2,534,198 |
| All other contributions, gifts, grants, and similar amounts not included above | $15,477 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $2,549,675 |
| Total Program Service Revenue | $96,703 |
| Investment income | $1,406 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $375,000 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | -$40 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $3,025,339 |
| 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. | $148,083 |
| Compensation of current officers, directors, key employees. | $95,818 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $853,541 |
| Pension plan accruals and contributions | $64,300 |
| Other employee benefits | $0 |
| Payroll taxes | $90,695 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $2,044 |
| Fees for services: Accounting | $41,820 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $173,951 |
| Advertising and promotion | $0 |
| Office expenses | $112,937 |
| Information technology | $2,795 |
| Royalties | $0 |
| Occupancy | $28,947 |
| Travel | $390,239 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $15,812 |
| Interest | $263,526 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $85,476 |
| Insurance | $55,257 |
| All other expenses | $0 |
| Total functional expenses | $2,804,512 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $537,592 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $598,945 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $34,729 |
| Net Land, buildings, and equipment | $4,569,049 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $489,331 |
| Total assets | $6,229,646 |
| Accounts payable and accrued expenses | $185,555 |
| Grants payable | $0 |
| Deferred revenue | $40,000 |
| 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 | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $6,245,422 |
| Total liabilities | $6,470,977 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | -$318,229 |
| Paid-in or capital surplus, or land, building, or equipment fund | $76,898 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $6,229,646 |