New Schools Fund
- Assets
- $55.4m
- Revenue
- $41.2m
- Investments
- $48.7m
- Employees
- 48
- Location
- Oakland, CA
- Founding
- 02/1998
- Data as of
- 12/2021
- 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 12/2021, Newschools Venture Fund employed 48 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 12/2021, Newschools Venture Fund generated $41.2m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 7 years, the organization has seen revenues fall by an average of (4.3%) each year. All expenses for the organization totaled $46.7m during the year ending 12/2021. As we would expect to see with falling revenues, expenses have declined by (2.1%) per year over the past 7 years. You can explore the organizations financials more deeply in the financial statements section below.
Since 2015, Newschools Venture Fund has awarded 842 individual grants totaling $242,717,921. 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
2021
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 AND RACIAL EQUITY.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Frances Messano President/secretary | Officer | 40 | $420,199 |
Amy Omand Cfo/treasurer | Officer | 40 | $270,232 |
Heather Mcmanus Chief People Officer | Officer | 40 | $240,694 |
Miho Kubagawa Partner | 40 | $216,935 | |
Jason Atwood Director | 40 | $208,215 | |
Lionel Bialis-White Partner | 40 | $203,987 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Education Analytics Inc Project Consulting | 12/30/21 | $380,000 |
Kelvin Education Inc Project Consulting | 12/30/21 | $310,800 |
Edsolutions Inc Project Consulting | 12/30/21 | $265,000 |
Bellwether Education Partners Project Consulting | 12/30/21 | $288,318 |
Nwea Project Consulting | 12/30/21 | $299,995 |
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 | $35,927,290 |
| Noncash contributions included in lines 1a–1f | $7,523,356 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $35,927,290 |
| Total Program Service Revenue | $1,177,819 |
| Investment income | $93,434 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $4,020,151 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $41,218,694 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $33,496,000 |
| 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. | $1,513,556 |
| Compensation of current officers, directors, key employees. | $396,926 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $4,477,468 |
| Pension plan accruals and contributions | $290,491 |
| Other employee benefits | $700,331 |
| Payroll taxes | $414,080 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $18,484 |
| Fees for services: Accounting | $75,933 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $3,562,131 |
| Advertising and promotion | $109,376 |
| Office expenses | $76,843 |
| Information technology | $644,782 |
| Royalties | $0 |
| Occupancy | $564,339 |
| Travel | $26,588 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $50,217 |
| Interest | $5,846 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $76,093 |
| Insurance | $18,563 |
| All other expenses | $576,365 |
| Total functional expenses | $46,697,486 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $572,659 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $150,000 |
| Accounts receivable, net | $410,991 |
| 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 | $77,035 |
| Net Land, buildings, and equipment | $45,137 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $48,723,098 |
| Investments—program-related | $5,388,401 |
| Intangible assets | $0 |
| Other assets | $30,000 |
| Total assets | $55,397,321 |
| Accounts payable and accrued expenses | $789,078 |
| Grants payable | $422,500 |
| Deferred revenue | $186,439 |
| 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 | $0 |
| Total liabilities | $1,398,017 |
| Net assets without donor restrictions | $53,999,304 |
| 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 | $55,397,321 |
Grants Awarded
Over the last fiscal year, New Schools Fund has awarded $33,486,000 in support to 159 organizations.
| Grant Recipient | Amount |
|---|---|
Tukwila, WA PURPOSE: INNOVATIVE SCHOOLS | $565,500 |
ALDINE INDEPENDENT SCHOOL DISTRICT PURPOSE: INNOVATIVE SCHOOLS | $525,000 |
Hastingsonhudson, NY PURPOSE: LEARNING SOLUTIONS | $517,500 |
New Haven, CT PURPOSE: LEARNING SOLUTIONS | $505,000 |
Boston, MA PURPOSE: LEARNING SOLUTIONS | $500,000 |
New Orleans, LA PURPOSE: LEARNING SOLUTIONS | $500,000 |
Grants Recieved
Over the last fiscal year, we have identified 12 grants that New Schools Fund has recieved totaling $18,081,570.
| Awarding Organization | Amount |
|---|---|
Chan Zuckerberg Initiative Foundation Palo Alto, CA PURPOSE: MATH EXECUTIVE FUNCTION PROJECT | $4,770,000 |
Bill & Melinda Gates Foundation Seattle, WA PURPOSE: K-12 EDUCATION | $3,300,355 |
Benificus Foundation San Carlos, CA PURPOSE: GENERAL PURPOSE | $3,010,636 |
Silicon Valley Community Foundation Mountain View, CA PURPOSE: Education | $2,600,000 |
Bill & Melinda Gates Foundation Seattle, WA PURPOSE: K-12 EDUCATION | $1,875,379 |
Bill & Melinda Gates Foundation Seattle, WA PURPOSE: K-12 EDUCATION | $1,500,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
University Enterprises Inc Sacramento, CA | $150,298,368 | $99,291,560 |
University Of California Irvine Foundation Irvine, CA | $884,006,067 | $143,548,070 |
U C San Diego Foundation La Jolla, CA | $1,658,962,820 | $199,905,173 |
California State University Fresno Foundation Fresno, CA | $305,581,286 | $82,049,002 |
University Of Hawaii Foundation Honolulu, HI | $548,406,506 | $76,733,850 |
University Corporation At Monterey Bay Seaside, CA | $199,917,843 | $49,155,763 |
San Jose State University Research Foundation San Jose, CA | $57,091,451 | $53,661,013 |
University Of Nevada-Reno Foundation Reno, NV | $310,760,494 | $35,673,494 |
The U C Davis Foundation Davis, CA | $716,342,130 | $110,976,640 |
Southwestern Law School Los Angeles, CA | $126,801,745 | $54,692,632 |
Associated Students Ucla Los Angeles, CA | $54,580,827 | $39,327,069 |
Csu Fullerton Auxiliary Services Corporation Fullerton, CA | $104,352,109 | $45,637,535 |