New School of Monmouth County Inc

Analysis

New School of Monmouth County Inc is a registered charity in United States, based in Holmdel, NJ. It received its IRS tax-exemption ruling in May 1971, 55 years ago. 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 August 2023, New School of Monmouth County Inc reported income of $373k and spending of $383k, spending 102% of its income. Across the 5 years on record, from August 2019 to August 2023, income fell from $452k to $373k (-17%), an average of -4.6% a year. The sharpest change came in the year to August 2022, when income rose by 116%. Over the whole period it spent 131% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, New School of Monmouth County Inc sits at the 64th percentile: it is larger than about 64% of them. Against every charity in United States with reported income it ranks in the 65th percentile, and in the 71st percentile within NJ. Charities of a similar size with the same main cause include Hebrew Free Loan Association of District of Columbia ($373k), Saml S Fleisher 9 Res ($373k) and Kidron Volunteer Fire Department Inc ($373k).

On its Form 990 for the period ending August 2023, revenue came from contributions and grants 0.4% and program service revenue 96% of the total. Other salaries and wages came to $275k. At year end it held assets of $298k against liabilities of $133k, net assets of $165k. It reported 11 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.