New Academy

Analysis

New Academy is a registered charity in United States, based in Los Angeles, CA. It received its IRS tax-exemption ruling in July 2004, 22 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 Academy reported income of $19.8m and spending of $17.1m, spending 86% of its income. Across the 5 years on record, from June 2019 to June 2023, income grew from $12.2m to $19.8m (+62%), an average of +13% a year. The sharpest change came in the year to June 2023, when income rose by 21%. Over the whole period it spent 89% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, New Academy sits at the 96th percentile: it is larger than about 96% of them. Against every charity in United States with reported income it ranks in the 97th percentile, and in the 97th percentile within CA. Charities of a similar size with the same main cause include California Virtual Academy at Sutter ($19.8m), Ernst & Young Foundation ($19.8m) and York Academy Regional Charter School ($19.8m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 100% and program service revenue 0.0% of the total. Compensation of current officers, directors and key employees was $242k (1.4% of expenses). Other salaries and wages came to $6.1m. At year end it held assets of $23.4m against liabilities of $8.2m, net assets of $15.2m. It reported 65 employees.