The New School

Analysis

The New School is a registered charity in United States, based in New York, NY. It received its IRS tax-exemption ruling in April 1986, 40 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, The New School reported income of $602.9m and spending of $613.8m, spending 102% of its income. Across the 5 years on record, from June 2019 to June 2023, income grew from $562.8m to $602.9m (+7.1%), an average of +1.7% a year. The sharpest change came in the year to June 2022, when income rose by 34%. Over the whole period it spent 104% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, The New School sits at the 100th percentile: it is one of the largest 1% in its cause. Against every charity in United States with reported income it ranks in the 100th percentile, and in the 100th percentile within NY. Charities of a similar size with the same main cause include Research Foundation of the City University of New York ($600.3m), President-Board of Trustees Santa Clara College ($622.0m) and Everglades College Inc ($598.7m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 5.9% and program service revenue 92% of the total. Compensation of current officers, directors and key employees was $6.9m (1.1% of expenses). Other salaries and wages came to $195.3m. At year end it held assets of $1.71bn against liabilities of $1.12bn, net assets of $590.2m. It reported 7,031 employees.

Data notes from the register: Spending has exceeded income in each of the last three reported years, so the charity has been drawing on reserves or other funds.