Newberry Academy
- Assets
- $1.7m
- Revenue
- $2.0m
- Investments
- $0.0
- Employees
- 52
- Location
- Newberry, SC
- Founding
- 08/1966
- Data as of
- 07/2023
- EIN
- 57-0479013
Organization Overview
Newberry Academy is located in Newberry, SC. The organization was established in 1966. According to its NTEE Classification (B99) the organization is classified as: Education N.E.C., under the broad grouping of Education and related organizations. As of 07/2023, Newberry Academy employed 52 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Newberry 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 07/2023, Newberry Academy generated $2.0m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 9.0% each year. All expenses for the organization totaled $1.6m during the year ending 07/2023. While expenses have increased by 5.2% 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
TO OPERATE A PRIVATE, INDEPENDENT, K-12 SCHOOL.
Describe the Organization's Program Activity:
Part 3 - Line 4a
OPERATED A PRIVATE, INDEPENDENT, SCHOOL OFFERING 3 YEAR OLD PRESCHOOL THROUGH GRADE 12, AS ACCREDITED BY THE SOUTH CAROLINA INDEPENDENT SCHOOL ASSOCIATION (SCISA).
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Doyle Waites Chairman | Trustee | 0 | $0 |
Walt Shealy Member | Trustee | 0 | $0 |
Becky Kinard Member | Trustee | 0 | $0 |
Lindsay Piersol Member | Trustee | 0 | $0 |
Scott Joyner Vice-Chairman | Trustee | 0 | $0 |
Scott Mayer Financial Chair | Trustee | 0 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $19,020 |
| Fundraising events | $52,952 |
| Related organizations | $0 |
| Government grants | $251,350 |
| All other contributions, gifts, grants, and similar amounts not included above | $68,914 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $392,236 |
| Total Program Service Revenue | $1,618,884 |
| Investment income | $13,438 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$156 |
| Net Income from Fundraising Events | $20,979 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $2,045,381 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $1,000 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $73,833 |
| Compensation of current officers, directors, key employees. | $22,150 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $940,994 |
| Pension plan accruals and contributions | $15,652 |
| Other employee benefits | $10,264 |
| Payroll taxes | $74,319 |
| 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 | $1,779 |
| Office expenses | $14,115 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $57,505 |
| 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 | $36,122 |
| Insurance | $22,628 |
| All other expenses | $75,017 |
| Total functional expenses | $1,636,027 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $712,049 |
| Savings and temporary cash investments | $349,992 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $45,012 |
| 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 | $620,714 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $1,727,767 |
| Accounts payable and accrued expenses | $0 |
| Grants payable | $0 |
| Deferred revenue | $517,864 |
| 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 | $74,423 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $592,287 |
| Net assets without donor restrictions | $1,135,480 |
| 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 | $1,727,767 |