New College Foundation Incorporated

Analysis

New College Foundation Incorporated is a registered charity in United States, based in Sarasota, FL. It received its IRS tax-exemption ruling in March 1966, 60 years ago. Its declared purposes cover education, which this site groups under education and training. The IRS classifies it as a publicly supported organisation (donations from the general public) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending June 2023, New College Foundation Incorporated reported income of $4.7m and spending of $5.9m, spending 126% of what it took in. Across the 5 years on record, from June 2019 to June 2023, income fell from $7.5m to $4.7m (-38%), an average of -11% a year. The sharpest change came in the year to June 2021, when income rose by 451%. Over the whole period it spent 75% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, New College Foundation Incorporated sits at the 89th percentile: it is larger than about 89% of them. Against every charity in United States with reported income it ranks in the 92nd percentile, and in the 93rd percentile within FL. Charities of a similar size with the same main cause include Synergy School ($4.7m), Fulton Leadership Academy Inc ($4.7m) and Fort Worth Academy for the Education of Children & Youth ($4.7m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 62% of the total. Compensation of current officers, directors and key employees was $895k (15% of expenses). Other salaries and wages came to $580k. At year end it held assets of $49.8m against liabilities of $1.7m, net assets of $48.1m. It reported 14 employees.