New Day Schools Inc
- Assets
- $9.1m
- Revenue
- $16.1m
- Investments
- $0.0
- Employees
- 231
- Location
- Memphis, TN
- Founding
- 09/2018
- Data as of
- 06/2021
- EIN
- 82-4087161
Organization Overview
New Day Schools Inc is located in Memphis, TN. The organization was established in 2018. According to its NTEE Classification (B29) the organization is classified as: Charter Schools, under the broad grouping of Education and related organizations. As of 06/2021, New Day Schools Inc employed 231 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. New Day Schools Inc 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 Day Schools Inc generated $16.1m in total revenue. All expenses for the organization totaled $13.6m during the year ending 06/2021. While expenses have increased by 229.0% per year over the past 4 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
PREPARE STUDENTS FOR COLLEGE AND LIFE-LONG SUCCESS BY DEVELOPING THE WHOLE CHILD THROUGH A FOCUS ON ACADEMIC EXCELLENCE, VALUES-BASED CHARACTER EDUCATION, AND SERVICE LEARNING IN THE COMMUNITY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PREPARE STUDENTS FOR COLLEGE AND LIFE-LONG SUCCESS BY DEVELOPING THE WHOLE CHILD THROUGH A FOCUS ON ACADEMIC EXCELLENCE, VALUES-BASED CHARACTER EDUCATION, AND SERVICE LEARNING IN THE COMMUNITY.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Kristi Baird Executive Director | Officer | 40 | $167,553 |
Allison Leslie Former Chief Academic Officer | 40 | $131,733 | |
Elizabeth M Woodcock Chief Operating Officer | 40 | $103,731 | |
Dr Richard Potts Chair | OfficerTrustee | 1 | $0 |
Marty Petrusek Treasurer | OfficerTrustee | 1 | $0 |
Emily Greer Secretary | OfficerTrustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Instruction Partners Teacher Professional Development | 6/29/20 | $172,567 |
Pristine Clean Plus Llc Cleaning Services | 6/29/20 | $121,602 |
Instruction Partners Teacher Professional Development | 6/29/20 | $172,567 |
Pristine Clean Plus Llc Cleaning Services | 6/29/20 | $121,602 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $2,147,510 |
| All other contributions, gifts, grants, and similar amounts not included above | $2,032,413 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $4,179,923 |
| Total Program Service Revenue | $11,846,270 |
| Investment income | $27,477 |
| 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 | $16,072,586 |
| 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. | $172,900 |
| Compensation of current officers, directors, key employees. | $17,290 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $8,800,555 |
| Pension plan accruals and contributions | $35,665 |
| Other employee benefits | $664,486 |
| Payroll taxes | $702,072 |
| Fees for services: Management | $90,000 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $123,700 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $195,660 |
| Advertising and promotion | $0 |
| Office expenses | $606,716 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $869,051 |
| 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 | $401,324 |
| Insurance | $0 |
| All other expenses | -$201 |
| Total functional expenses | $13,606,296 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $4,664,729 |
| Savings and temporary cash investments | $196,329 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $1,222,214 |
| 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 | $18,731 |
| Net Land, buildings, and equipment | $1,206,122 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $1,777,556 |
| Total assets | $9,085,681 |
| Accounts payable and accrued expenses | $799,731 |
| Grants payable | $0 |
| 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 | $876,775 |
| Other liabilities | $609,992 |
| Total liabilities | $2,286,498 |
| Net assets without donor restrictions | $5,092,431 |
| Net assets with donor restrictions | $1,706,752 |
| 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 | $9,085,681 |
Grants Recieved
Over the last fiscal year, we have identified 6 grants that New Day Schools Inc has recieved totaling $2,310,392.
| Awarding Organization | Amount |
|---|---|
Community Foundation Of Greater Memphis Inc Memphis, TN PURPOSE: GENERAL OPERATIONAL SUPPORT | $2,238,750 |
Day Foundation Memphis, TN PURPOSE: OPERATING SUPPORT | $35,000 |
The Urban Child Institute Memphis, TN PURPOSE: PROGRAM SUPPORT | $25,000 |
Network For Good Inc Washington, DC PURPOSE: UNRESTRICTED | $5,877 |
J R Hyde Iii Foundation Memphis, TN PURPOSE: SUPPORT FOR THE 2021-22 NETWORK FOR GOOD JUMPSTART PROGRAM AND GENERAL OPERATING SUPPORT | $5,628 |
Amazonsmile Foundation Seattle, WA PURPOSE: GENERAL SUPPORT | $137 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Drew Charter School Inc Atlanta, GA | $34,692,137 | $41,952,542 |
North Carolina Charter Educational Foundation Inc Mooresville, NC | $93,431,533 | $35,029,413 |
Lead Public Schools Inc Nashville, TN | $24,033,254 | $42,742,487 |
Kipp Nashville Nashville, TN | $80,824,528 | $47,985,945 |
Georgia Connections Academy Charter School Inc Duluth, GA | $22,514,475 | $38,349,918 |
Arkansas Virtual Academy Little Rock, AR | $3,075,159 | $27,721,037 |
Kindezi School Inc Atlanta, GA | $19,750,427 | $21,363,051 |
Kipp Enc Public Schools Gaston, NC | $35,993,575 | $43,410,261 |
Gestalt Community Schools Memphis, TN | $46,137,229 | $27,266,737 |
Foothills Education Center Inc Athens, GA | $29,237,884 | $30,776,964 |
Kipp Memphis Inc Memphis, TN | $24,468,081 | $25,479,805 |
Valor Collegiate Academies Nashville, TN | $48,008,126 | $29,376,935 |