New Day Schools Inc
- Assets
- $16.3m
- Revenue
- $20.5m
- Investments
- $0.0
- Employees
- 264
- Location
- Memphis, TN
- Founding
- 09/2018
- Data as of
- 06/2022
- EIN
- 82-4087161
Organization Overview
New Day Schools Inc is located in Memphis, TN. The organization was established in 2018. According to its NTEE Classification (B29) the organization is classified as: Charter Schools, under the broad grouping of Education and related organizations. As of 06/2022, New Day Schools Inc employed 264 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. New Day Schools Inc 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 06/2022, New Day Schools Inc generated $20.5m in total revenue. All expenses for the organization totaled $14.4m during the year ending 06/2022. While expenses have increased by 162.0% per year over the past 5 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
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
PREPARE STUDENTS FOR COLLEGE AND LIFE-LONG SUCCESS BY DEVELOPING THE WHOLE CHILD THROUGH A FOCUS ON ACADEMIC EXCELLENCE, VALUES-BASED CHARACTER EDUCATION, AND SERVICE LEARNING IN THE COMMUNITY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PREPARE STUDENTS FOR COLLEGE AND LIFE-LONG SUCCESS BY DEVELOPING THE WHOLE CHILD THROUGH A FOCUS ON ACADEMIC EXCELLENCE, VALUES-BASED CHARACTER EDUCATION, AND SERVICE LEARNING IN THE COMMUNITY.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Kristi Baird Executive Director | Officer | 40 | $166,924 |
Elizabeth M Woodcock Chief Operating Officer | Officer | 40 | $114,071 |
Dr John Smarrelli Director | Trustee | 1 | $0 |
Teresa Sloyan Director | Trustee | 1 | $0 |
Bishop Emeritus J Terry Steib Director | Trustee | 1 | $0 |
Emily Greer Director | Trustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Instruction Partners Teacher Professional Development | 6/29/20 | $172,567 |
Pristine Clean Plus Llc Cleaning Services | 6/29/20 | $121,602 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $3,361,974 |
| All other contributions, gifts, grants, and similar amounts not included above | $4,287,613 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $7,649,587 |
| Total Program Service Revenue | $12,864,504 |
| 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 | $20,547,057 |
| 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. | $297,358 |
| Compensation of current officers, directors, key employees. | $145,201 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $8,213,343 |
| Pension plan accruals and contributions | $143,976 |
| Other employee benefits | $955,349 |
| Payroll taxes | $704,799 |
| Fees for services: Management | $90,281 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $130,000 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $286,415 |
| Advertising and promotion | $17,522 |
| Office expenses | $194,751 |
| Information technology | $14,610 |
| Royalties | $0 |
| Occupancy | $1,138,802 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $4,249 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $562,809 |
| Insurance | $0 |
| All other expenses | $287,418 |
| Total functional expenses | $14,353,930 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $3,876,880 |
| Savings and temporary cash investments | $288,821 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $661,925 |
| 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 | $11,705 |
| Net Land, buildings, and equipment | $5,841,442 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $99,043 |
| Other assets | $5,481,625 |
| Total assets | $16,261,441 |
| Accounts payable and accrued expenses | $684,761 |
| 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 | $3,477,669 |
| Total liabilities | $4,162,430 |
| Net assets without donor restrictions | $11,259,307 |
| Net assets with donor restrictions | $839,704 |
| 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 | $16,261,441 |