New Key School Inc

Analysis

New Key School Inc is a registered charity in United States, based in Fort Worth, TX. It received its IRS tax-exemption ruling in October 2005, 21 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 July 2023, New Key School Inc reported income of $3.6m and spending of $3.8m, spending 106% of what it took in. Across the 5 years on record, from July 2019 to July 2023, income fell from $7.1m to $3.6m (-50%), an average of -16% a year. The sharpest change came in the year to July 2020, when income dropped by 31%. Over the whole period it spent 61% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, New Key School Inc sits at the 87th percentile: it is larger than about 87% of them. Against every charity in United States with reported income it ranks in the 90th percentile, and in the 93rd percentile within TX. Charities of a similar size with the same main cause include Phillips Brook House Association Incorporated ($3.6m), Plumbing and Pipefitting Educational Program ($3.6m) and Graduate Medical Education Inc ($3.6m).

On its Form 990 for the period ending July 2023, revenue came from contributions and grants 23% and program service revenue 73% of the total. Compensation of current officers, directors and key employees was $50k (1.3% of expenses). Other salaries and wages came to $1.9m. It paid $32k in professional fundraising fees. At year end it held assets of $11.9m against liabilities of $825k, net assets of $11.0m. It reported 59 employees.