The New School
- Assets
- $1.7b
- Revenue
- $468.4m
- Investments
- $238.8m
- Employees
- 6,201
- Location
- New York, NY
- Founding
- 04/1986
- Data as of
- 06/2021
- EIN
- 13-3297197
Organization Overview
The New School is located in New York, NY. The organization was established in 1986. According to its NTEE Classification (B43) the organization is classified as: Universities, under the broad grouping of Education and related organizations. As of 06/2022, New School employed 6,201 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 06/2021, New School generated $468.4m in total revenue. The organization has seen a slow decline revenue. Over the past 6 years, revenues have fallen by an average of (1.3%) each year. All expenses for the organization totaled $539.3m during the year ending 06/2021. 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
THE NEW SCHOOL'S MISSION IS TO PREPARE OUR STUDENTS TO UNDERSTAND, CONTRIBUTE TO, AND SUCCEED IN A RAPIDLY CHANGING SOCIETY, AND THUS MAKE THE WORLD A BETTER AND MORE JUST PLACE.
Describe the Organization's Program Activity:
Part 3 - Line 4a
ACADEMIC PROGRAM: THE UNIVERSITY'S ACADEMIC PROGRAM IS COMPOSED OF INSTRUCTIONAL, RESEARCH, AND PUBLIC SERVICE ACTIVITIES. THE UNIVERSITY AWARDS BACCALAUREATE, MASTERS, AND DOCTORAL DEGREES. IN ACADEMIC YEAR 2021-2022 IT ENROLLED 11,385 DEGREE STUDENTS AND 4,684 NON-DEGREE STUDENTS. THE UNIVERSITY'S RESEARCH AND PUBLIC SERVICE ACTIVITIES ENABLE FACULTY TO EXPLORE NEW AREAS OF EDUCATION, LEARNING AND KNOWLEDGE AND PROVIDES NON-INSTRUCTIONAL SERVICES TO INDIVIDUALS AND GROUPS EXTERNAL TO THE UNIVERSITY.
AUXILIARY REVENUE FOR DORMITORIES AND DINING SERVICES
SCHOLARSHIP AND FINANCIAL AID: THE NEW SCHOOL SEEKS TO MAKE ITS EDUCATION AS AFFORDABLE AS POSSIBLE BY OFFERING FINANCIAL SUPPORT TO STUDENTS BASED ON FINANCIAL NEED, ACADEMIC ACHIEVEMENT, AND OTHER QUALIFICATIONS THROUGH SCHOLARSHIPS AND WORK STUDY PROGRAMS, WHICH ARE FUNDED BY INSTITUTIONAL FUNDS AND FEDERAL, STATE AND PRIVATE GRANTS. IN ACADEMIC YEAR 2021-2022, 9058 STUDENTS RECEIVED INSTITUTIONAL SCHOLARSHIPS AND 9,084 STUDENTS RECEIVED AT LEAST ONE FORM OF INSTITUTIONAL OR PUBLIC SCHOLARSHIPS, GRANTS, LOANS, OR WORK STUDY AWARDS.
EDUCATIONAL SUPPORT: THE UNIVERSITY'S EDUCATIONAL SUPPORT PROGRAM IS COMPOSED OF ACADEMIC SUPPORT AND STUDENT SERVICES. ACADEMIC SUPPORT PROVIDES SUPPORT SERVICES, SUCH AS LIBRARIES, ACADEMIC TECHNOLOGY, AND FACULTY AND CURRICULUM DEVELOPMENT, FOR ITS PRIMARY MISSIONS OF INSTRUCTION, RESEARCH AND PUBLIC SERVICE. STUDENT SERVICES PROVIDE VARIOUS SERVICES TO STUDENTS, WHICH CONTRIBUTE TO THE STUDENTS' EMOTIONAL AND PHYSICAL WELL-BEING AND TO THEIR INTELLECTUAL, CULTURAL, AND SOCIAL DEVELOPMENT OUTSIDE THE CONTEXT OF THE UNIVERSITY'S FORMAL INSTRUCTIONAL PROGRAMS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Name Not Listed President | OfficerTrustee | 60 | $815,044 |
Name Not Listed Vice Chair | OfficerTrustee | 1 | $0 |
Name Not Listed Vice Chair | OfficerTrustee | 1 | $0 |
Name Not Listed Chair | OfficerTrustee | 1 | $0 |
Name Not Listed Vice Chair | OfficerTrustee | 1 | $0 |
Name Not Listed Trustee | Trustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Compass Group Usa Inc Food Service | 6/29/22 | $4,116,294 |
Perfect Parties By Robin Inc Events Consultation | 6/29/22 | $2,715,712 |
East End Advisors Llc Consulting | 6/29/22 | $2,184,168 |
Qwest Contracting Corp Contractor | 6/29/22 | $2,088,304 |
H Brickman & Sons Contractor | 6/29/22 | $2,039,197 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $43,723,946 |
| Investment income | $110,112 |
| Tax Exempt Bond Proceeds | $94,978 |
| Royalties | $0 |
| Net Rental Income | $12,454,725 |
| Net Gain/Loss on Asset Sales | -$420,295 |
| Net Income from Fundraising Events | -$435,115 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $468,399,427 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic individuals. | $151,621,598 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $11,386,706 |
| Compensation to disqualified persons | $4,478,810 |
| Other salaries and wages | $163,387,052 |
| Pension plan accruals and contributions | $4,241,858 |
| Other employee benefits | $26,790,238 |
| Payroll taxes | $12,065,981 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $876,862 |
| Fees for services: Accounting | $189,000 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $5,662,452 |
| Fees for services: Other | $16,402,752 |
| Advertising and promotion | $3,507,705 |
| Office expenses | $47,989,768 |
| Information technology | $5,834,110 |
| Royalties | $30,921 |
| Occupancy | $13,088,155 |
| Travel | $301,307 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $160,917 |
| Interest | $22,953,870 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $26,325,746 |
| Insurance | $1,950,765 |
| All other expenses | $0 |
| Total functional expenses | $539,301,555 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $4,135,625 |
| Savings and temporary cash investments | $321,436 |
| Pledges and grants receivable | $30,124,791 |
| Accounts receivable, net | $23,412,392 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $217,406 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $12,775,816 |
| Investments—publicly traded securities | $248,011,457 |
| Investments—other securities | $238,837,594 |
| Investments—program-related | $1,998,199 |
| Intangible assets | $0 |
| Other assets | $409,835,644 |
| Total assets | $1,684,598,012 |
| Accounts payable and accrued expenses | $68,224,661 |
| Grants payable | $0 |
| Deferred revenue | $21,548,030 |
| Tax-exempt bond liabilities | $573,282,085 |
| 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 | $428,403,536 |
| Total liabilities | $1,091,458,312 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Total liabilities and net assets/fund balances | $593,139,700 |