The New School

Analysis

The New School is a registered charity in United States, based in Fayetteville, AR. It received its IRS tax-exemption ruling in August 1972, 54 years ago. 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, The New School reported income of $7.2m and spending of $10.3m, spending 143% of what it took in. Across the 5 years on record, from June 2019 to June 2023, income grew from $6.8m to $7.2m (+5.9%), an average of +1.4% a year. Over the whole period it spent 139% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, The New School sits at the 94th percentile: it is larger than about 94% of them. Against every charity in United States with reported income it ranks in the 94th percentile, and in the 94th percentile within AR. Charities of a similar size with the same main cause include Purple Heart Homes Inc ($7.2m), Ohio Living Quaker Heights ($7.2m) and Brent House Corporation ($7.2m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 8.7% and program service revenue 92% of the total. Compensation of current officers, directors and key employees was $604k (5.9% of expenses). At year end it held assets of $34.1m against liabilities of $23.5m, net assets of $10.6m. It reported 213 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.