Trustees Of Newark Academy
- Assets
- $113.3m
- Revenue
- $35.9m
- Investments
- $0.0
- Employees
- 298
- Location
- Livingston, NJ
- Founding
- 02/1938
- Data as of
- 06/2021
- EIN
- 22-1487270
Organization Overview
Trustees Of Newark Academy is located in Livingston, NJ. The organization was established in 1938. 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 06/2021, Trustees Of Newark Academy employed 298 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Trustees Of Newark 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, Trustees Of Newark Academy generated $35.9m in total revenue. This represents relatively stable growth, over the past 6 years the organization has increased revenue by an average of 3.8% each year. All expenses for the organization totaled $31.8m during the year ending 06/2021. While expenses have increased by 4.8% 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
NEWARK ACADEMY WILL CONTRIBUTE TO SOCIETY THOUGHTFUL & COMPASSIONATE CITIZENS WHO EMBRACE THEIR RESPONSIBILITIES AS ETHICAL, INTELLECTUAL & CIVIC STEWARDS IN THE GLOBAL ENVIRONMENT.
Describe the Organization's Program Activity:
Part 3 - Line 4a
NEWARK ACADEMY (THE "ACADEMY") IS AN INDEPENDENT SCHOOL LOCATED IN LIVINGSTON, NJ THAT OFFERS AN ACADEMICALLY RIGOROUS COLLEGE PREPARATORY PROGRAM TO A STUDENT BODY COMPOSED OF DIVERSE, MULTI-CULTURAL, INTERNATIONAL GROUP OF YOUNG PEOPLE. TUITION REPRESENTS THE ACADEMY'S PRIMARY SOURCE OF REVENUE.
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PDF Copies of 990 Filings
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Donald M Austin Board Member/head Of School | OfficerTrustee | 60 | $566,125 |
Samuel Goldfischer Director Of Business & Finance | 55 | $286,068 | |
Lisa Grider Director Of Advancement | 40 | $253,829 | |
Thomas Ashburn Middle School Principal | 40 | $203,002 | |
Robert Mallalieu Head Librarian | 40 | $155,823 | |
Richard Dibianca Principal | 40 | $151,010 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Harvard Cleaning Cleaning Services | 6/29/21 | $204,828 |
Belair Transportation Transportation | 6/29/21 | $234,570 |
Sage Dining Food Service | 6/29/21 | $870,142 |
Joseph A Natoli Construction Construction | 6/29/21 | $4,002,018 |
Asbestos And Mold Services Corp Abatement | 6/29/21 | $237,683 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $2,791,800 |
| All other contributions, gifts, grants, and similar amounts not included above | $1,553,394 |
| Noncash contributions included in lines 1a–1f | $388,812 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $4,345,194 |
| Total Program Service Revenue | $29,362,454 |
| Investment income | $617,677 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $113,438 |
| Net Gain/Loss on Asset Sales | $1,299,522 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | -$902 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $35,913,632 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $3,116,586 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $566,126 |
| Compensation of current officers, directors, key employees. | $151,723 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $13,040,775 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $3,700,157 |
| Payroll taxes | $985,967 |
| 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 | $81,074 |
| Information technology | $500,079 |
| Royalties | $0 |
| Occupancy | $596,189 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $166,126 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $1,669,479 |
| Insurance | $355,551 |
| All other expenses | $4,838,407 |
| Total functional expenses | $31,830,675 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $34,709,492 |
| Pledges and grants receivable | $1,361,031 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $193,800 |
| Inventories for sale or use | $40,202 |
| Prepaid expenses and deferred charges | $105,380 |
| Net Land, buildings, and equipment | $34,247,120 |
| Investments—publicly traded securities | $42,579,427 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $92,455 |
| Total assets | $113,328,907 |
| Accounts payable and accrued expenses | $2,824,914 |
| Grants payable | $0 |
| Deferred revenue | $8,913,849 |
| 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 | $3,313,250 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $3,611,459 |
| Total liabilities | $18,663,472 |
| Net assets without donor restrictions | $51,234,757 |
| Net assets with donor restrictions | $43,430,678 |
| 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 | $113,328,907 |
Grants Recieved
Over the last fiscal year, we have identified 12 grants that Trustees Of Newark Academy has recieved totaling $167,939.
| Awarding Organization | Amount |
|---|---|
The Kogan Charitable Foundation Inc Morristown, NJ PURPOSE: GENERAL | $50,000 |
Paragano Family Foundation Inc Philadelphia, PA PURPOSE: 2840 - RISE & FLOURISH | $50,000 |
Goldman Sachs Charitable Gift Fund New York, NY PURPOSE: SCHOLARSHIPS & FINANCIAL AID | $27,000 |
Schwab Charitable Fund San Francisco, CA PURPOSE: EDUCATION | $14,100 |
Goldman Sachs Philanthropy Fund New York, NY PURPOSE: EDUCATION | $7,500 |
Givinga Foundation Inc Wellesley, MA PURPOSE: PROGRAM SUPPORT | $6,000 |
Endowment Analysis
| Beg. Balance | $32,795,759 |
| Earnings | $8,583,980 |
| Net Contributions | $43,825 |
| Grants | $231,307 |
| Ending Balance | $41,192,257 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Archway Charter School Of Chester Inc Chester, PA | $43,430,171 | $101,905,393 |
Democracy Prep New York Charter Schools Bronx, NY | $67,527,043 | $86,404,779 |
Grace Church School New York, NY | $124,238,513 | $52,477,666 |
Haverford School Haverford, PA | $200,207,536 | $63,658,264 |
Calhoun School Inc New York, NY | $66,556,667 | $39,561,327 |
Marion P Thomas Charter School Inc Newark, NJ | $17,560,259 | $37,041,604 |
Saint Davids School New York, NY | $170,289,488 | $33,366,978 |
Trustees Of Newark Academy Livingston, NJ | $113,328,907 | $35,913,632 |
Philadelphia Independent Mission Schools Philadelphia, PA | $39,191,945 | $38,175,969 |
Hewitt School New York, NY | $78,957,035 | $33,976,072 |
Lakewood Chedar School Lakewood, NJ | $43,735,740 | $33,402,068 |
Buckley School In The City Of New York New York, NY | $138,732,019 | $33,895,115 |