The New School
- Assets
- $39.8m
- Revenue
- $6.4m
- Investments
- $0.0
- Employees
- 203
- Location
- Fayetteville, AR
- Founding
- 08/1972
- Data as of
- 06/2021
- EIN
- 71-0422196
Organization Overview
The New School is located in Fayetteville, AR. The organization was established in 1972. According to its NTEE Classification (B21) the organization is classified as: Preschools, under the broad grouping of Education and related organizations. As of 06/2021, New School employed 203 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. New School 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 School generated $6.4m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 6 years, the organization has seen revenues fall by an average of (16.3%) each year. All expenses for the organization totaled $8.9m during the year ending 06/2021. 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
THE NEW SCHOOL, AN INDEPENDENT SCHOOL, IS DEDICATED TO INSPIRING A LOVE OF LEARNING AND EMPOWERING STUDENTS TO REACH THEIR POTENTIAL FOR ACADEMIC ACHIEVEMENT, CREATIVITY, AND CITIZENSHIP.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROVIDE SCHOOLING FOR PRE-SCHOOL THROUGH HIGH-SCHOOL AGED CHILDREN.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Nancy Lang Head Of School | Officer | 60 | $342,283 |
Erin Goerke Chief Financial Officer | Officer | 50 | $125,251 |
Edward Prewitt Treasurer | OfficerTrustee | 4 | $0 |
Michael Chaney Vice Chair | OfficerTrustee | 4 | $0 |
John Wright Chair | OfficerTrustee | 4 | $0 |
Bryan Hunt Secretary | OfficerTrustee | 4 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Sage Dining Services Inc Dining Services | 6/29/21 | $588,151 |
Tiaa-cref Retirement Fund Processing | 6/29/21 | $198,899 |
Consolidated Admin Services Employee Benefit Service | 6/29/21 | $105,860 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $27,105 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $1,347,651 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,374,756 |
| Total Program Service Revenue | $4,813,377 |
| Investment income | $20,819 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $94,168 |
| Net Income from Fundraising Events | $59,686 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $6,395,577 |
| 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. | $443,600 |
| Compensation of current officers, directors, key employees. | $140,300 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $4,317,640 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $383,824 |
| Payroll taxes | $324,308 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $33,571 |
| Fees for services: Accounting | $33,000 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $31,527 |
| Fees for services: Other | $29,904 |
| Advertising and promotion | $69,655 |
| Office expenses | $0 |
| Information technology | $38,303 |
| Royalties | $0 |
| Occupancy | $267,258 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $724,473 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $1,078,464 |
| Insurance | $88,330 |
| All other expenses | $291,789 |
| Total functional expenses | $8,929,243 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $3,717,465 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $5,746,291 |
| Accounts receivable, net | $10,637 |
| 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 | $28,414,025 |
| Investments—publicly traded securities | $1,696,630 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $170,907 |
| Total assets | $39,755,955 |
| Accounts payable and accrued expenses | $728,376 |
| Grants payable | $0 |
| Deferred revenue | $1,533,640 |
| 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 | $21,171,904 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $1,939 |
| Total liabilities | $23,435,859 |
| Net assets without donor restrictions | $14,553,213 |
| Net assets with donor restrictions | $1,766,883 |
| 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 | $39,755,955 |
Grants Recieved
Over the last fiscal year, we have identified 3 grants that The New School has recieved totaling $15,409.
| Awarding Organization | Amount |
|---|---|
Schwab Charitable Fund San Francisco, CA PURPOSE: EDUCATION | $10,000 |
Us Lacrosse Inc Sparks, MD PURPOSE: TO PROVIDE GENERAL SUPPORT FOR YOUTH LACROSSE DEVELOPMENT. | $5,377 |
Amazonsmile Foundation Seattle, WA PURPOSE: GENERAL SUPPORT | $32 |
Endowment Analysis
| Beg. Balance | $1,482,033 |
| Earnings | $214,597 |
| Ending Balance | $1,696,630 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Economic Security Corporation Of Southwest Area Joplin, MO | $10,642,309 | $18,556,997 |
Child Inc Austin, TX | $5,389,599 | $17,643,504 |
Southwest Christian School Inc Fort Worth, TX | $45,808,415 | $19,471,207 |
Southwest Louisiana Charter Academy Foundation Inc Lake Charles, LA | $44,512,602 | $16,859,571 |
Trinity School Of Midland Texas Midland, TX | $27,961,554 | $15,122,842 |
Livingston Byrdstown Jamestown And Cookeville Development Corporation Cookeville, TN | $2,043,241 | $13,554,742 |
Dallas International School Dallas, TX | $26,054,966 | $13,430,563 |
Hope Montessori Academy St Louis, MO | $759,290 | $12,407,556 |
Washington County Opportunities Inc Greenville, MS | $2,892,910 | $12,059,595 |
Tulsa Christian Education Corporation Tulsa, OK | $13,603,997 | $12,564,074 |
Fort Worth Christian School Inc North Richland Hills, TX | $26,990,918 | $13,008,195 |
Columbia Academy School Columbia, TN | $17,513,853 | $13,288,512 |