New Beginnings School Foundation
- Assets
- $1.8m
- Revenue
- $18.0m
- Investments
- $0.0
- Employees
- 294
- Location
- New Orleans, LA
- Founding
- 10/2004
- Data as of
- 06/2020
- EIN
- 20-0998872
Organization Overview
New Beginnings School Foundation is located in New Orleans, LA. The organization was established in 2004. According to its NTEE Classification (B29) the organization is classified as: Charter Schools, under the broad grouping of Education and related organizations. As of 06/2020, New Beginnings School Foundation employed 294 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. New Beginnings School Foundation 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 06/2020, New Beginnings School Foundation generated $18.0m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 6 years, the organization has seen revenues fall by an average of (3.4%) each year. All expenses for the organization totaled $18.9m during the year ending 06/2020. As we would expect to see with falling revenues, expenses have declined by (1.9%) per year over the past 6 years. 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
2020
Describe the Organization's Mission:
Part 3 - Line 1
NEW BEGINNINGS SCHOOLS FOUNDATION IS A PRE-K THROUGH 12TH GRADE LEARNING COMMUNITY THAT INNNOVATIVELY PREPARES EVERY CHILD, EVERY DAY FOR SUCCESS IN LIFE, COLLEGE AND CAREERS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
NEW BEGINNINGS SCHOOLS FOUNDATION SHALL PROVIDE EDUCATIONAL STANDARDS ESTABLISHED BY LAW, THE CHARTER CONTRACT AND THE CHARTER APPLICATION/PROPOSAL , MEASURE PUPIL PROGRESSW TOWARD STATED GOALS, AND PARTICIPATE IN PUPIL ASSESSMENTS REQUIRED BY LAW, REGULATION AND BESE POLICY.
NEW BEGINNINGS SCHOOLS FOUNDATION SHALL PROVIDE EDUCATIONAL STANDARDS ESTABLISHED BY LAW, THE CHARTER CONTRACT AND THE CHARTER APPLICATION/PROPOSAL , MEASURE PUPIL PROGRESSW TOWARD STATED GOALS, AND PARTICIPATE IN PUPIL ASSESSMENTS REQUIRED BY LAW, REGULATION AND BESE POLICY.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Kevin George CEO | Officer | 40 | $192,222 |
Raphael Gang President | OfficerTrustee | 2 | $0 |
Tamara Wyre Vice President | OfficerTrustee | 2 | $0 |
Nichole Bevrotte Academic Chair | OfficerTrustee | 2 | $0 |
Michael Hubbard Treasurer | OfficerTrustee | 2 | $0 |
Kim Ramsey Treasurer | OfficerTrustee | 2 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Security Experts And Leaders Security Services | 6/29/19 | $153,509 |
Scholar's First Llc Transportation | 6/29/19 | $1,733,473 |
Hubbard And Tennyson Speech Services | 6/29/19 | $138,132 |
Johnson Controls Inc Hvac Maintenance | 6/29/19 | $113,666 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $17,863,529 |
| Investment income | $0 |
| 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 | $18,016,749 |
| Statement of Expenses | |
|---|---|
| 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. | $192,222 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $8,472,610 |
| Pension plan accruals and contributions | $2,202,559 |
| Other employee benefits | $895,375 |
| Payroll taxes | $214,944 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $258,850 |
| Fees for services: Accounting | $73,050 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $2,745,160 |
| Advertising and promotion | $31,221 |
| Office expenses | $1,021,385 |
| Information technology | $653,152 |
| Royalties | $0 |
| Occupancy | $1,139,150 |
| 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 | $0 |
| Insurance | $323,173 |
| All other expenses | $0 |
| Total functional expenses | $18,941,330 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $462,215 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $935,229 |
| 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 | $405,324 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $1,802,768 |
| Accounts payable and accrued expenses | $904,882 |
| 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 | $0 |
| Other liabilities | $300,105 |
| Total liabilities | $1,204,987 |
| Net assets without donor restrictions | $0 |
| 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 |
| Total liabilities and net assets/fund balances | $597,781 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that New Beginnings School Foundation has recieved totaling $30,164.
| Awarding Organization | Amount |
|---|---|
Youth Force Nola New Orleans, LA PURPOSE: CAREER-CONNECTED LEARNING | $30,164 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Collegiate Academies New Orleans, LA | $15,386,568 | $45,139,366 |
Renew-Reinventing Education New Orleans, LA | $11,254,190 | $34,978,044 |
Foundation For Louisiana Students Baton Rouge, LA | $21,702,876 | $38,265,312 |
East Texas Advanced Academies Longview, TX | $2,379,457 | $32,700,344 |
Basis Texas Charter Schools Inc San Antonio, TX | $92,451,409 | $31,933,223 |
Discovery Health Sciences Foundation Inc Kenner, LA | $11,194,982 | $30,168,997 |
Arkansas Virtual Academy Little Rock, AR | $3,075,159 | $27,721,037 |
Algiers Charter School Association Inc New Orleans, LA | $11,545,116 | $21,416,188 |
Einstein Group New Orleans, LA | $9,740,028 | $21,533,973 |
Golden Rule Schools Inc Desto, TX | $72,016,277 | $20,883,674 |
Advocates For Arts Based Educationinc New Orleans, LA | $25,052,581 | $22,710,552 |
Lighthouse Academies Of Arkansas Inc North Little Rock, AR | $582,799 | $18,301,867 |