New Life Charter Academies

Analysis

New Life Charter Academies is a registered charity in United States, based in Ft Lauderdale, FL. It received its IRS tax-exemption ruling in June 2016, 10 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 Life Charter Academies reported income of $1.3m and spending of $1.4m, spending 107% of what it took in. Across the 5 years on record, from June 2019 to June 2023, income fell from $1.4m to $1.3m (-6.1%), an average of -1.6% a year. Over the whole period it spent 102% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, New Life Charter Academies sits at the 78th percentile: it is larger than about 78% of them. Against every charity in United States with reported income it ranks in the 82nd percentile, and in the 84th percentile within FL. Charities of a similar size with the same main cause include Schools That Can ($1.3m), Mesorah High School for Girls Inc ($1.3m) and Educational Summer Center ($1.3m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 88% and program service revenue 12% of the total. Other salaries and wages came to $566k. At year end it held assets of $152k against liabilities of $149k, net assets of $3,240.

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.