New Foundations Charter School

Analysis

New Foundations Charter School is a registered charity in United States, based in Philadelphia, PA. It received its IRS tax-exemption ruling in March 2001, 25 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 Foundations Charter School reported income of $28.9m and spending of $28.3m, spending 98% of its income. Across the 6 years on record, from June 2018 to June 2023, income grew from $18.9m to $28.9m (+53%), an average of +8.9% a year. Over the whole period it spent 92% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, New Foundations Charter School sits at the 97th percentile: it is larger than about 97% of them. Against every charity in United States with reported income it ranks in the 98th percentile, and in the 97th percentile within PA. Charities of a similar size with the same main cause include Gordon Conwell Theological Seminary Inc ($28.8m), Moore College of Art and Design ($28.9m) and Christel House Academy Inc ($28.8m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 33% and program service revenue 67% of the total. Compensation of current officers, directors and key employees was $284k (1.0% of expenses). Other salaries and wages came to $12.8m. At year end it held assets of $40.6m against liabilities of $42.1m, net assets of -$1.5m. It reported 266 employees.