New American Academy Charter School

Analysis

New American Academy Charter School is a registered charity in United States, based in Brooklyn, NY. It received its IRS tax-exemption ruling in August 2014, 12 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 American Academy Charter School reported income of $5.6m and spending of $5.1m, spending 90% of its income. Across the 5 years on record, from June 2019 to June 2023, income fell from $6.0m to $5.6m (-5.8%), an average of -1.5% a year. Over the whole period it spent 95% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, New American Academy Charter School sits at the 90th percentile: it is larger than about 90% of them. Against every charity in United States with reported income it ranks in the 93rd percentile, and in the 90th percentile within NY. Charities of a similar size with the same main cause include Galaxy Education Inc ($5.6m), Bridge Educational Foundation ($5.6m) and Newark Campus Development Fund ($5.6m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 13% and program service revenue 87% of the total. Compensation of current officers, directors and key employees was $562k (11% of expenses). Other salaries and wages came to $2.6m. At year end it held assets of $3.3m against liabilities of $526k, net assets of $2.8m. It reported 46 employees.