The New School
- Assets
- $34.1m
- Revenue
- $7.2m
- Investments
- $0.0
- Employees
- 213
- Location
- Fayetteville, AR
- Founding
- 08/1972
- Data as of
- 06/2023
- EIN
- 71-0422196
Organization Overview
The New School is located in Fayetteville, AR. The organization was established in 1972. According to its NTEE Classification (B21) the organization is classified as: Preschools, under the broad grouping of Education and related organizations. As of 06/2023, New School employed 213 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. New 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 06/2023, New School generated $7.2m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 8 years, the organization has seen revenues fall by an average of (11.2%) each year. All expenses for the organization totaled $10.3m during the year ending 06/2023. 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
THE NEW SCHOOL, AN INDEPENDENT SCHOOL, IS DEDICATED TO INSPIRING A LOVE OF LEARNING AND EMPOWERING STUDENTS TO REACH THEIR POTENTIAL FOR ACADEMIC ACHIEVEMENT, CREATIVITY, AND CITIZENSHIP.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROVIDE SCHOOLING FOR PRE-SCHOOL THROUGH HIGH-SCHOOL AGED CHILDREN.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Edward Prewitt Treasurer | OfficerTrustee | 4 | $0 |
Michael Chaney Vice Chair | OfficerTrustee | 4 | $0 |
Bryan Hunt Secretary | OfficerTrustee | 4 | $0 |
John Wright Chair | OfficerTrustee | 4 | $0 |
Ayoola Carleton Board Member | Trustee | 2 | $0 |
Stacey Sturner Board Member | Trustee | 2 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Sage Dining Services Inc Dining Services | 6/29/23 | $725,230 |
Tiaa-cref Retirement Fund Processing | 6/29/23 | $284,151 |
Wired Technology Partners Technology Support | 6/29/23 | $179,798 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $193,901 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $430,083 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $623,984 |
| Total Program Service Revenue | $6,591,414 |
| Investment income | $36,204 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$32,351 |
| Net Income from Fundraising Events | -$33,934 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $7,197,573 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| 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. | $604,044 |
| Compensation of current officers, directors, key employees. | $158,673 |
| Compensation to disqualified persons | $4,483,503 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $426,857 |
| Payroll taxes | $347,059 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $15,231 |
| Fees for services: Accounting | $43,649 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $39,100 |
| Fees for services: Other | $169,215 |
| Advertising and promotion | $64,015 |
| Office expenses | $0 |
| Information technology | $37,495 |
| Royalties | $0 |
| Occupancy | $372,861 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $1,073,420 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $1,048,037 |
| Insurance | $112,968 |
| All other expenses | $371,819 |
| Total functional expenses | $10,259,650 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $2,316,539 |
| Savings and temporary cash investments | $3,200,797 |
| Pledges and grants receivable | $95,978 |
| Accounts receivable, net | $42,288 |
| 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 | $205,861 |
| Net Land, buildings, and equipment | $26,622,333 |
| Investments—publicly traded securities | $1,571,382 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $34,055,178 |
| Accounts payable and accrued expenses | $821,658 |
| Grants payable | $0 |
| Deferred revenue | $2,334,958 |
| 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 | $20,221,273 |
| Unsecured mortgages and notes payable | $100,000 |
| Other liabilities | $12,112 |
| Total liabilities | $23,490,001 |
| Net assets without donor restrictions | $8,836,826 |
| Net assets with donor restrictions | $1,728,351 |
| 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 | $34,055,178 |