New Heights Academy Charter School

Analysis

New Heights Academy Charter School is a registered charity in United States, based in New York, NY. It received its IRS tax-exemption ruling in March 2007, 19 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 Heights Academy Charter School reported income of $14.6m and spending of $17.1m, spending 118% of what it took in. Across the 4 years on record, from June 2020 to June 2023, income fell from $14.8m to $14.6m (-1.5%), an average of -0.5% a year. The sharpest change came in the year to June 2021, when income rose by 18%. Over the whole period it spent 101% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, New Heights Academy Charter School sits at the 95th percentile: it is larger than about 95% of them. Against every charity in United States with reported income it ranks in the 96th percentile, and in the 95th percentile within NY. Charities of a similar size with the same main cause include Chime Institute ($14.6m), Brooklyn College Foundation Inc ($14.6m) and Horizon Science Academy of Lorain ($14.6m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 6.7% and program service revenue 93% of the total. Compensation of current officers, directors and key employees was $611k (3.6% of expenses). Other salaries and wages came to $8.1m. At year end it held assets of $35.9m against liabilities of $30.7m, net assets of $5.2m. It reported 121 employees.