New Schools Fund

Analysis

New Schools Fund is a registered charity in United States, based in Oakland, CA. It received its IRS tax-exemption ruling in February 1998, 28 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 December 2023, New Schools Fund reported income of $49.1m and spending of $54.5m, spending 111% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income fell from $56.2m to $49.1m (-13%), an average of -3.3% a year. The sharpest change came in the year to December 2022, when income rose by 81%. Over the whole period it spent 86% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, New Schools Fund sits at the 98th 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 CA. Charities of a similar size with the same main cause include Blair Academy ($49.0m), Mater Academy of Nevada ($49.2m) and Summit Academy Management ($49.0m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 92% of the total. Compensation of current officers, directors and key employees was $1.9m (3.5% of expenses). Other salaries and wages came to $7.0m. At year end it held assets of $66.4m against liabilities of $2.4m, net assets of $63.9m. It reported 53 employees.