New Schools Fund
- Assets
- $66.4m
- Revenue
- $49.1m
- Investments
- $36.3m
- Employees
- 53
- Location
- Oakland, CA
- Founding
- 02/1998
- Data as of
- 12/2023
- EIN
- 94-3281780
Organization Overview
New Schools Fund, operating under the name Newschools Venture Fund, is located in Oakland, CA. The organization was established in 1998. According to its NTEE Classification (B11) the organization is classified as: Single Organization Support, under the broad grouping of Education and related organizations. As of 12/2023, Newschools Venture Fund employed 53 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Newschools Venture Fund 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 12/2023, Newschools Venture Fund generated $49.1m in total revenue. The organization has seen a slow decline revenue. Over the past 9 years, revenues have fallen by an average of (1.5%) each year. All expenses for the organization totaled $54.5m during the year ending 12/2023. You can explore the organizations financials more deeply in the financial statements section below.
Since 2015, Newschools Venture Fund has awarded 1,184 individual grants totaling $315,143,551. If you would like to learn more about the grant giving history of this organization, scroll down to the grant profile section of this page.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2023
Describe the Organization's Mission:
Part 3 - Line 1
NEW SCHOOLS FUND'S MISSION IS TO IMPROVE PUBLIC EDUCATION.
Describe the Organization's Program Activity:
Part 3 - Line 4a
VENTURE FUNDING AND SUPPORT: NEWSCHOOLS RAISES PHILANTHROPIC DOLLARS AND INVESTS THEM IN ENTREPRENEURS AND TEAMS OF EDUCATORS. WE FIND, FUND, AND SUPPORT ORGANIZATIONS THAT ARE REIMAGINING EDUCATION. IN ADDITION TO PROVIDING FINANCIAL ASSISTANCE, NEWSCHOOLS ALSO PROVIDES ADDITIONAL RESOURCES INCLUDING CONVENINGS, ACCESS TO RESEARCH, PARTICIPATION IN A COHORT, AND MANAGMEENT ASSISTANCE, OUR INVESTMENT AREAS ARE INNOVATIVE PUBLIC SCHOOLS, DIVERSE LEADERS, LEARNING SOLUTIONS, RACIAL EQUITY AND LEARNING DIFFERENCES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Frances Messano CEO (as Of 1/23) | OfficerTrustee | 40 | $491,743 |
Paula Sneed Board Chair | OfficerTrustee | 2 | $0 |
Ime Archibong Board Member | Trustee | 2 | $0 |
Michelle Boyers Board Member | Trustee | 2 | $0 |
Brook Byers Board Member | Trustee | 2 | $0 |
Stacey Childress Board Member | Trustee | 2 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Catalyst Education Project Consulting | 12/30/23 | $1,640,200 |
Bellwether Education Partners Project Consulting | 12/30/23 | $1,377,478 |
Kelvin Education Inc Project Consulting | 12/30/23 | $612,500 |
Education Analytics Inc Project Consulting | 12/30/23 | $500,000 |
Nwea Project Consulting | 12/30/23 | $273,621 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $45,026,641 |
| Noncash contributions included in lines 1a–1f | $5,062,648 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $45,026,641 |
| Total Program Service Revenue | $0 |
| Investment income | $1,591,920 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $8,400 |
| Net Gain/Loss on Asset Sales | $2,401,509 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $49,069,499 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $32,051,500 |
| 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. | $1,933,406 |
| Compensation of current officers, directors, key employees. | $635,450 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $6,953,873 |
| Pension plan accruals and contributions | $446,307 |
| Other employee benefits | $916,254 |
| Payroll taxes | $588,201 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $985 |
| Fees for services: Accounting | $211,535 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $7,209,026 |
| Advertising and promotion | $231,621 |
| Office expenses | $111,231 |
| Information technology | $405,910 |
| Royalties | $0 |
| Occupancy | $818,967 |
| Travel | $441,555 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $114,865 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $30,709 |
| Insurance | $23,214 |
| All other expenses | $2,031,036 |
| Total functional expenses | $54,520,195 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,162,541 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $20,759,942 |
| Accounts receivable, net | $393,051 |
| 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 | $179,079 |
| Net Land, buildings, and equipment | $244,830 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $36,318,455 |
| Investments—program-related | $5,968,227 |
| Intangible assets | $0 |
| Other assets | $1,367,295 |
| Total assets | $66,393,420 |
| Accounts payable and accrued expenses | $882,661 |
| Grants payable | $125,000 |
| 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 | $0 |
| Other liabilities | $1,440,614 |
| Total liabilities | $2,448,275 |
| Net assets without donor restrictions | $43,016,636 |
| Net assets with donor restrictions | $20,928,509 |
| 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 | $66,393,420 |
Grants Awarded
Over the last fiscal year, New Schools Fund has awarded $31,996,500 in support to 156 organizations.
| Grant Recipient | Amount |
|---|---|
A SCHOOLS PITTSBURGH'S COMMUNITY ALLIANCE FOR PUBLIC EDUCATION PURPOSE: DIVERSE LEADERS & RACIAL EQUITY | $260,000 |
4TH-DIMENSION LEADERS PURPOSE: DIVERSE LEADERS & RACIAL EQUITY | $200,000 |
40 SCHOOLS PURPOSE: DIVERSE LEADERS & RACIAL EQUITY | $150,000 |
ACHIEVERS EARLY COLLEGE PREP CHARTER SCHOOL PURPOSE: INNOVATIVE SCHOOLS | $100,000 |
ADVANCE RURAL EDUCATION FOUNDATION PURPOSE: INNOVATIVE SCHOOLS | $215,000 |
ALABAMA AEROSPACE AND AVIATION SCHOOLS INC PURPOSE: INNOVATIVE SCHOOLS | $140,000 |