New Academy
- Assets
- $12.0m
- Revenue
- $13.6m
- Investments
- $0.0
- Employees
- 55
- Location
- Los Angeles, CA
- Founding
- 07/2004
- Data as of
- 06/2021
- EIN
- 20-0201111
Organization Overview
New Academy is located in Los Angeles, CA. The organization was established in 2004. According to its NTEE Classification (B29) the organization is classified as: Charter Schools, under the broad grouping of Education and related organizations. As of 06/2021, New Academy employed 55 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. New 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 06/2021, New Academy generated $13.6m in total revenue. This represents relatively stable growth, over the past 6 years the organization has increased revenue by an average of 4.4% each year. All expenses for the organization totaled $11.9m during the year ending 06/2021. While expenses have increased by 4.1% per year over the past 6 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
TO ENABLE STUDENTS TO BECOME COMPETENT CONTRIBUTING MEMBERS OF SOCIETY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
OPERATION OF PUBLIC CHARTER SCHOOLS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Dr Eric Todd Principal - Nasa | Officer | 40 | $112,473 |
Victor Gil President | OfficerTrustee | 2 | $0 |
Brent Bradley Treasurer | OfficerTrustee | 2 | $0 |
Martha Arias Vice President | OfficerTrustee | 2 | $0 |
Patricia Didonato Secretary | OfficerTrustee | 2 | $0 |
Dr Clara Guerreo Principal - Nacp | Officer | 40 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
The Cruz Center Occupational Therapy | 6/29/21 | $121,826 |
Dr Marta E Sanchez Medical Services | 6/29/21 | $108,000 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $13,375,429 |
| All other contributions, gifts, grants, and similar amounts not included above | $96,310 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $13,471,739 |
| Total Program Service Revenue | $0 |
| Investment income | $135,541 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| 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 | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $13,607,280 |
| 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. | $112,473 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $4,597,526 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $1,684,008 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $1,998 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $38,132 |
| Insurance | $0 |
| All other expenses | $388,871 |
| Total functional expenses | $11,894,555 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $4,731,144 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $3,261,250 |
| 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 | $124,513 |
| Net Land, buildings, and equipment | $209,686 |
| Investments—publicly traded securities | $3,583,140 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $54,343 |
| Total assets | $11,964,076 |
| Accounts payable and accrued expenses | $602,682 |
| Grants payable | $0 |
| Deferred revenue | $624,062 |
| 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 | $0 |
| Total liabilities | $1,226,744 |
| Net assets without donor restrictions | $10,737,332 |
| 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 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $11,964,076 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Lifelong Learning Administration Corporation Lancaster, CA | $25,266,460 | $53,959,766 |
Wonderful College Prep Academy Delano, CA | $24,794,533 | $50,280,007 |
California Virtual Academies At Los Angeles Simi Valley, CA | $29,684,011 | $46,331,896 |
Cabrillo Point Academy Poway, CA | $23,203,988 | $48,389,829 |
Vaughn Next Century Learning Center San Fernando, CA | $201,824,802 | $53,063,832 |
Pacific Coast Academy Poway, CA | $20,772,611 | $44,078,486 |
Birmingham Community Charter High School Van Nuys, CA | $42,319,173 | $47,098,171 |
Education For Change Oakland, CA | $46,722,136 | $44,379,557 |
Mojave River Academy Schools Oro Grande, CA | $19,432,116 | $42,903,299 |
Isana Los Angeles, CA | $25,748,660 | $48,465,580 |
Legacy Traditional Schools - Nevada Inc Chandler, AZ | $98,471,077 | $39,227,732 |
Fenton Charter Public Schools Sun Valley, CA | $39,044,614 | $44,887,355 |