New Classical Academy Incorporated
- Assets
- $1.1m
- Revenue
- $650.8k
- Investments
- $0.0
- Employees
- 14
- Location
- Asheville, NC
- Founding
- 09/2006
- Data as of
- 06/2022
- EIN
- 20-3546735
Organization Overview
New Classical Academy Incorporated is located in Asheville, NC. The organization was established in 2006. According to its NTEE Classification (B30) the organization is classified as: Vocational & Technical Schools, under the broad grouping of Education and related organizations. As of 06/2022, New Classical Academy Incorporated employed 14 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. New Classical Academy Incorporated 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 Classical Academy Incorporated generated $650.8k in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 8.7% each year. All expenses for the organization totaled $632.2k during the year ending 06/2022. While expenses have increased by 9.0% 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
PRIVATE SCHOOL SERVING GRADES K-8
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE SCHOOL OPERATES ON A STANDARD 5 DAY A WEEK SCHEDULE MONDAY THROUGH FRIDAY FROM 9 AM TO 3 PM; STUDENTS IN OUR TRADITIONAL PROGRAM WILL ATTEND ALL WEEK. IN ADDITION WE WILL OFFER A DISTANCE LEARNING PROGRAM AND A HOME SCHOOL ENRICHMENT PROGRAM. TRADITIONAL PROGRAM: FOR PARENTS WHO PREFER A TRADITIONAL FIVE DAY A WEEK SCHEDULE, WE ARE HERE TO MEET THAT NEED. HOWEVER, FRIDAYS WILL ALWAYS BE OPTIONAL. FOR PARENTS WHO NEED DOWNTIME IN IN THEIR LIVES, WOULD LIKE TO GO ON FAMILY VACATIONS OR PERHAPS JUST SCHEDULE A DOCTOR'S VISIT, REST ASSURED THAT THAT ON ANY FRIDAY YOUR FAMILY CAN TAKE THE TIME YOU NEED FOR YOURSELVES DISTANCE LEARNING PROGRAM: YOUR CHILD IS ENROLLED AS A PRIVATE SCHOOL STUDENT AND ATTENDS SCHOOL HALF OF THE TIME. WE HAVE OPTIONS FOR MONDAY, TUESDAY AND FRIDAY OR WEDNESDAY, THURSDAY AND FRIDAY. AGAIN, KEEP IN MIND THAT FRIDAYS ARE ALWAYS OPTIONAL. FOR THE OTHER TWO DAYS, THE STUDENT WILL COMPLETE THEIR ASSIGNED LESSONS AT HOME. ONCE IN MIDDLE SCHOOL, THIS PROGRAM ASSUMES A HIGH LEVEL OF ACADEMIC WORK AND INDIVIDUAL RESPONSIBILITY. AFTER ONE YEAR ENROLLED IN THIS PROGRAM IN MIDDLE SCHOOL, STUDENTS MUST MAINTAIN A 3.0 GPA. HOME SCHOOL ENRICHMENT PROGRAM: THE THIRD OPTION IS FOR HOME SCHOOL STUDENTS. THE STUDENT WILL ATTEND THE SCHOOL ON FRIDAYS FROM 9 AM TO 3 PM. THE STUDENT WILL REGISTER AS A HOME SCHOOL STUDENT WITH THE STATE AND WILL ATTEND THE SCHOOL AS AN ENRICHMENT PROGRAM, PARTICIPATING IN ALL ASPECTS OF THE SCHOOL DAY AND BEING SEAMLESSLY INTEGRATED INTO OUR SCHOOL COMMUNITY. WE WILL ALSO PROVIDE THESE PARENTS WITH HOME SCHOOL COUNSELING, THE OPPORTUNITY FOR HOME SCHOOL TESTING AND CURRICULUM RESOURCES.
SEE STATEMENT
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Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $12,421 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $12,421 |
| Total Program Service Revenue | $638,372 |
| Investment income | $1 |
| 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 | $650,794 |
| 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. | $73,042 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $368,409 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $34,738 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $5,676 |
| 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 | $27,261 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $2,395 |
| Interest | $40,015 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $20,499 |
| Insurance | $0 |
| All other expenses | $22,814 |
| Total functional expenses | $632,191 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $205,119 |
| Savings and temporary cash investments | $5,869 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $8,879 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $1,416 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $832,586 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $1,053,869 |
| Accounts payable and accrued expenses | $0 |
| Grants payable | $0 |
| Deferred revenue | $124,262 |
| 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 | $446,506 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $323,766 |
| Total liabilities | $894,534 |
| 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 |
| Retained earnings, endowment, accumulated income, or other funds | $159,335 |
| Total liabilities and net assets/fund balances | $1,053,869 |