The Newman School
- Assets
- $15.5m
- Revenue
- $10.1m
- Investments
- $0.0
- Employees
- 73
- Location
- Boston, MA
- Founding
- 09/1967
- Data as of
- 06/2024
- EIN
- 04-2104773
Organization Overview
The Newman School is located in Boston, MA. The organization was established in 1967. According to its NTEE Classification (B25) the organization is classified as: Secondary & High Schools, under the broad grouping of Education and related organizations. As of 06/2024, Newman School employed 73 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Newman 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 06/2024, Newman School generated $10.1m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 2.8% each year. All expenses for the organization totaled $10.8m during the year ending 06/2024. While expenses have increased by 4.6% per year over the past 8 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
990T
Mission & Program ActivityExcerpts From the 990T Filing
TAX YEAR
2024
Describe the Organization's Mission:
Part 3 - Line 1
PREPARE YOUNG STUDENTS FROM ALL OVER THE WORLD FOR SUCCESS IN UNIVERSITY, COLLEGE STUDIES AND LIFE.
Describe the Organization's Program Activity:
OPERATION OF A SECONDARY SCHOOL SERVING 251 STUDENTS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
James G Keefe Chairman | OfficerTrustee | 10 | $0 |
Thomas S Drumm Treasurer | OfficerTrustee | 2 | $0 |
Jane Spaulding Clerk | OfficerTrustee | 2 | $0 |
Jean Silveri Vice Chairman | OfficerTrustee | 2 | $0 |
J Harry Lynch Trustee | Trustee | 2 | $0 |
Marie Cecchetto Trustee | Trustee | 2 | $0 |
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 | $314,014 |
| Noncash contributions included in lines 1a–1f | $25,892 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $314,014 |
| Total Program Service Revenue | $9,394,668 |
| Investment income | $310,874 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $37,916 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $10,057,472 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $1,601,094 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $4,955,725 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $695,508 |
| Payroll taxes | $370,296 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $391,326 |
| Advertising and promotion | $113,982 |
| Office expenses | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $64,971 |
| 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 | $171,892 |
| Insurance | $115,563 |
| All other expenses | $582,504 |
| Total functional expenses | $10,797,750 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $346,800 |
| Savings and temporary cash investments | $62,154 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| 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 | $261,386 |
| Net Land, buildings, and equipment | $1,502,749 |
| Investments—publicly traded securities | $9,434,552 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $3,854,437 |
| Total assets | $15,462,078 |
| Accounts payable and accrued expenses | $683,656 |
| Grants payable | $0 |
| Deferred revenue | $1,673,199 |
| 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 | $2,699,409 |
| Total liabilities | $5,056,264 |
| Net assets without donor restrictions | $10,405,814 |
| 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 | $15,462,078 |