New World Preparatory Charter School

Analysis

New World Preparatory Charter School is a registered charity in United States, based in Staten Island, NY. It received its IRS tax-exemption ruling in May 2011, 15 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 World Preparatory Charter School reported income of $19.7m and spending of $21.6m, spending 109% of what it took in. Across the 5 years on record, from June 2019 to June 2023, income grew from $9.0m to $19.7m (+119%), an average of +22% a year. The sharpest change came in the year to June 2020, when income rose by 41%. 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, New World Preparatory Charter School 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 96th percentile within NY. Charities of a similar size with the same main cause include Student Freedom Initiative Inc ($19.7m), De Toledo High School ($19.7m) and Little Wound School Board Inc ($19.7m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 7.9% and program service revenue 91% of the total. Compensation of current officers, directors and key employees was $1.3m (6.0% of expenses). Other salaries and wages came to $8.5m. At year end it held assets of $10.3m against liabilities of $9.7m, net assets of $610k. It reported 201 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.