Newu Inc is located in Washington, DC. The organization was established in 2019. According to its NTEE Classification (B42) the organization is classified as: Undergraduate Colleges, under the broad grouping of Education and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Newu Inc is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
Form
990EZ
Mission & Program ActivityExcerpts From the 990EZ Filing
TAX YEAR
2023
Describe the Organization's Program Activity:
Part 3
NEWU UNIVERSITY'S FIRST COHORT OF STUDENTS ENROLLED IN FALL 2022. NEWU SERVES STUDENTS WHO DESIRE TO GET A COLLEGE DEGREE BUT ARE AT A DISADVANTAGE IN THE COLLEGE ADMISSIONS PROCESS OR CANNOT AFFORD THE COST OF COLLEGE EDUCATION ELSEWHERE. THAT IS WHY NEWU HAS A VERY HIGH NUMBER OF FIRST GENERATION, UNDER-RESOURCED, AND PREDOMINANTLY AFRICAN-AMERICAN OR BLACK AND HISPANIC OR LATINO STUDENTS. THE FIRST COHORT COMPRISED OF 60 PERCENT AFRICAN-AMERICAN OR BLACK, 30 PERCENT HISPANIC OR LATINO STUDENTS, AND 10 PERCENT OF STUDENTS OF TWO OR MORE RACES. FIFTY PERCENT WERE MALE, 44 PERCENT WERE WOMEN, AND 6 PERCENT SELF-IDENTIFIED. NINETY-FOUR PERCENT WERE TRADITIONAL AGED COLLEGE STUDENTS, ALMOST 70 PERCENT OF WHOM REPORTED THAT THEY WOULD NOT BE IN COLLEGE IF NOT FOR NEWU UNIVERSITY. THE MAJORITY ARE FIRST GENERATION STUDENTS. NONE OF THE STUDENTS TAKE STUDENT LOANS TO AFFORD THEIR NEWU EDUCATION. BECAUSE NEWU IS THE FIRST COLLEGE IN THE US TO OFFER FULLY IN-PERSON 3-YEAR BACHELOR'S DEGREES PROGRAMS - WITHOUT SUMMER OR WINTER SEMESTERS, OR COURSE OVERLOADING- THE STUDENTS WILL GRADUATE IN SPRING 2025. NEWU ALSO ADMITTED A SECOND COHORT OF STUDENTS FOR FALL 2023.
Statement of Revenue | |
---|---|
Total Revenue from Contributions, Gifts, Grants & Similar | $1,630 |
Total Program Service Revenue | $109,600 |
Membership dues | $0 |
Investment income | $0 |
Gain or Loss | $0 |
Net Income from Gaming & Fundraising | $0 |
Other Revenue | $0 |
Total Revenue | $111,230 |
Statement of Expenses | |
---|---|
Grants and similar amounts paid | $0 |
Benefits paid to or for members | $0 |
Salaries, other compensation, and employee benefits | $59,728 |
Professional fees and other payments to independent contractors | $5,387 |
Occupancy, rent, utilities, and maintenance | $53,716 |
Printing, publications, postage, and shipping | $24 |
Other expenses | $74,738 |
Total expenses | $193,593 |
Balance Sheet | |
---|---|
Cash, savings, and investments | $8,819 |
Other assets | $0 |
Total assets | $60,882 |
Total liabilities | $429,137 |
Net assets or fund balances | -$368,255 |