Drexel Neumann Academy
- Assets
- $3.3m
- Revenue
- $2.2m
- Investments
- $0.0
- Employees
- 32
- Location
- Chester, PA
- Founding
- 03/1946
- Data as of
- 06/2023
- EIN
- 20-8083164
Organization Overview
Drexel Neumann Academy is located in Chester, PA. The organization was established in 1946. According to its NTEE Classification (B24) the organization is classified as: Primary & Elementary Schools, under the broad grouping of Education and related organizations. As of 06/2023, Drexel Neumann Academy employed 32 individuals. This organization is a subordinate organization within an affiliated group for tax-exemption purposes. Drexel Neumann 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 06/2023, Drexel Neumann Academy generated $2.2m in total revenue. This represents relatively stable growth, over the past 3 years the organization has increased revenue by an average of 0.2% each year. All expenses for the organization totaled $2.3m during the year ending 06/2023. While expenses have increased by 9.3% per year over the past 3 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
DREXEL NEUMANN ACADEMY IS COMMITTED TO PROVIDING A CATHOLIC ELEMENTARY SCHOOL EDUCATION IN A MULTICULTERAL ENVIRONMENT TO THE CHILDREN OF CHESTER
Describe the Organization's Program Activity:
Part 3 - Line 4a
EDUCATIONAL SERVICES, DREXEL NEUMANN ACADEMY IS AN INDEPENDENT CATHOLIC SCHOOL FOR STUDENTS IN GRADES PRE-KINDERGARTEN THROUGH EIGHTH GRADE, SPONSORED BY NEUMANN COLLEGE, THE ARCHDIOCESE OF PHILADELPHIA, KATHARINE DREXEL PARISH AND THE SISTER OF ST. FRANCIS OF PHILADELPHIA.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Robert Ianelli Board Member | $0 | ||
Sister Marian Leaf Board Member | $0 | ||
Gary Olsen Board Member | $0 | ||
Robert Keyes Vice President | $0 | ||
Gary Mccarthy ESQ Board Member | $0 | ||
Brian Mccloskey Board Member | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $202,986 |
| Related organizations | $190,500 |
| Government grants | $106,300 |
| All other contributions, gifts, grants, and similar amounts not included above | $507,498 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,007,284 |
| Total Program Service Revenue | $1,112,436 |
| Investment income | $105,450 |
| 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 | $2,225,170 |
| 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. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $1,348,888 |
| Pension plan accruals and contributions | $165,055 |
| Other employee benefits | $0 |
| Payroll taxes | $150,366 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $22,187 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $625 |
| Office expenses | $33,400 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $164,079 |
| Travel | $0 |
| 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 | $0 |
| Insurance | $3,747 |
| All other expenses | $29,486 |
| Total functional expenses | $2,256,907 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $1,353,708 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| 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 | $0 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $1,965,903 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $3,319,611 |
| Accounts payable and accrued expenses | $18,844 |
| Grants payable | $55,344 |
| 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 | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $74,188 |
| Net assets without donor restrictions | $2,224,170 |
| Net assets with donor restrictions | $1,021,253 |
| 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 | $3,319,611 |