Newberry College

Analysis

Newberry College is a registered charity in United States, based in Newberry, SC. It received its IRS tax-exemption ruling in August 1940, 86 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, Newberry College reported income of $62.7m and spending of $59.4m, spending 95% of its income. Across the 5 years on record, from June 2019 to June 2023, income grew from $48.2m to $62.7m (+30%), an average of +6.8% a year. The sharpest change came in the year to June 2023, when income rose by 21%. Over the whole period it spent 98% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Newberry College sits at the 99th percentile: it is larger than about 98% of them. Against every charity in United States with reported income it ranks in the 99th percentile, and in the 99th percentile within SC. Charities of a similar size with the same main cause include Abraham Joshua Heschel School ($62.7m), Hollins University Corporation ($62.7m) and Maharishi International University ($62.6m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 17% and program service revenue 79% of the total. Compensation of current officers, directors and key employees was $581k (1.0% of expenses). Other salaries and wages came to $13.1m. At year end it held assets of $79.2m against liabilities of $43.1m, net assets of $36.1m. It reported 566 employees.