New Century Academy

Analysis

New Century Academy is a registered charity in United States, based in Hutchinson, MN. It received its IRS tax-exemption ruling in August 2002, 24 years ago. Its declared purposes cover education, which this site groups under education and training. The IRS classifies it as a school under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending June 2023, New Century Academy reported income of $2.2m and spending of $2.3m, spending 106% of what it took in. Across the 5 years on record, from June 2019 to June 2023, income fell from $2.7m to $2.2m (-17%), an average of -4.7% a year. The sharpest change came in the year to June 2023, when income dropped by 27%. Over the whole period it spent 97% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, New Century Academy sits at the 83rd percentile: it is larger than about 83% of them. Against every charity in United States with reported income it ranks in the 87th percentile, and in the 86th percentile within MN. Charities of a similar size with the same main cause include Insight at San Diego ($2.2m), Njcpa Education Foundation Inc ($2.2m) and Pittsburgh Area Community Schools Inc ($2.2m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 99% and program service revenue 0.9% of the total. Compensation of current officers, directors and key employees was $161k (6.9% of expenses). Other salaries and wages came to $810k. At year end it held assets of $1.3m against liabilities of $1.6m, net assets of -$365k. It reported 24 employees.