Is it real?
Yes. Never revoked by the IRS. Latest filing on record: FY2025. IRS ruling in Apr 1986.
IRS Pub. 78 · IRS Auto-Revocation List · IRS Business Master File
Where the money goes
86 cents of each dollar spent went to programs.
Form 990 Part IX, line 25, columns B–D. Every line is in By the numbers.
Something off? Claim to add context
Who runs it and what they're paid
53 people listed on the 990; $7.8M paid to officers and key staff.
Mark Diaz’s $786K as Interim EVP for Business and Operations (through January 2025) is at the 65th percentile of top reported officer pay among 674 $100M+ education nonprofits. Peer set: organizations in the same NTEE major field of work and revenue-size band, compared on each org’s own highest-paid officer/key-employee, from Form 990 Part VII / 990-PF Part VIII. Descriptive placement, not a verdict on whether the pay is appropriate.
Compensation history total reportable pay by year · 8 named individuals · Part VII
| Name | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 |
|---|---|---|---|---|---|---|
| David Van Zandt | — | — | — | $301,703 | $2,676,314 | $856,444 |
| Dwight a McBride | — | $623,760 | $904,331 | $815,044 | $547,287 | — |
| Mark Gibbel | — | — | — | — | $848,124 | $404,790 |
| Mark Diaz | $786,220 | $227,615 | — | — | — | — |
| Joel Towers | $658,344 | $350,719 | $322,617 | $258,018 | $305,493 | $360,994 |
| Rene White | $655,857 | $618,605 | $594,741 | — | — | — |
| Olatokumbo Shobowale | — | $409,213 | $527,400 | $604,440 | $468,009 | $429,337 |
| Tim Marshall | — | — | — | — | — | $592,181 |
Total reportable compensation (Form 990 Part VII column D / Schedule J column E) by filing year, matched by name within this organization. The Schedule J base / bonus / deferred breakdown is not parsed into this dataset.
See The New School executive salaries →Questions the 990 asks
The form asks each of these directly. These are the filed answers.
- Family or business ties among officersPt VI · Ln 2No
- Top official's pay set by an independent reviewPt VI · Ln 15aYes
Programs and updates
Provides higher education, academic support, and student services to prepare students to succeed in and contribute to a rapidly changing, more just society.
Questions for The New School
Your first name shows with your question. The New School answers here, for everyone.
Academic Program
The university's academic program is composed of instructional, research, and public service activities. The university awards baccalaureate, masters, and doctoral degrees. In academic year 2022-2023 it enrolled 10,941 degree students and 4,623 non-degree students.
Scholarship and Financial Aid
The new school seeks to make its education as affordable as possible by offering financial support to students based on financial need, academic achievement, and other qualifications through scholarships and work study programs, which are funded by institutional funds and federal, state and private grants.
Educational Support
The university's educational support program is composed of academic support and student services. Academic support provides support services, such as libraries, academic technology, and faculty and curriculum development, for its academic program.
Funders
Who pays for it.
From grant filings on record. Receipts are incomplete: individual donors are never listed.
Grants
Federal money
Plus 17 smaller programs.
The auditor reported no findings.
Plus 14 smaller programs.
The auditor reported no findings.
Plus 14 smaller programs.
The auditor reported no findings.
Plus 13 smaller programs.
The auditor reported no findings.
By the numbers
The FY2023 990, line by line.
Download 990
| Line | FY23 | FY22 | FY21 | FY20 | FY19 |
|---|---|---|---|---|---|
| End of yearLn 1g | $449.9M | $421.8M | $481.7M | $393.5M | $399.3M |
| Given inLn 1b | $4.4M | $6.5M | $7.9M | $6.4M | $5.4M |
| SpentLn 1d–1f | $19.1M | $19.9M | $16.4M | $16.2M | $16.2M |
| Line | Start FY23 | End FY23 |
|---|---|---|
| Cash and savingsLn 1–2 | $7.5M | $2.2M |
| InvestmentsLn 11–13 | $446.1M | $466.3M |
| Land, buildings, equipmentLn 10c | $808.0M | $802.3M |
| Total assetsLn 16 | $1.71B | $1.71B |
| LiabilitiesLn 26 | $1.15B | $1.12B |
| Net assetsLn 32 | $560.0M | $590.2M |
| Line | Total | Programs | Management | Fundraising |
|---|---|---|---|---|
| Grants to domestic individualsLn 2 | $159.2M | $159.2M | ||
| Pay of current officers, directors and key staffLn 5 | $6.9M | $1.9M | $4.5M | $503K |
| Pay of disqualified personsLn 6 | $1.3M | $874K | $442K | |
| Other salaries and wagesLn 7 | $195.3M | $169.3M | $23.7M | $2.3M |
| Pension plan contributionsLn 8 | $16.0M | $13.8M | $1.9M | $191K |
| Other employee benefitsLn 9 | $38.5M | $33.4M | $4.7M | $461K |
| Payroll taxesLn 10 | $13.8M | $12.0M | $1.7M | $166K |
| Legal feesLn 11b | $2.0M | $587K | $1.4M | |
| Accounting feesLn 11c | $270K | $270K | ||
| Lobbying feesLn 11d | $2K | $2K | ||
| Investment management feesLn 11f | $4.7M | $4.7M | ||
| Other fees for servicesLn 11g | $22.0M | $16.1M | $5.8M | $41K |
| Advertising and promotionLn 12 | $4.7M | $1.7M | $2.9M | $21K |
| Office expensesLn 13 | $11.2M | $9.9M | $1.3M | $38K |
| Information technologyLn 14 | $8.1M | $3.6M | $4.4M | $57K |
| RoyaltiesLn 15 | $1.2M | $595K | $633K | $8K |
| OccupancyLn 16 | $44.2M | $41.2M | $2.9M | $100K |
| TravelLn 17 | $3.5M | $3.3M | $201K | $35K |
| Conferences, conventions and meetingsLn 19 | $2.3M | $2.1M | $164K | $101K |
| InterestLn 20 | $23.6M | $19.6M | $4.0M | |
| Depreciation, depletion and amortizationLn 22 | $26.9M | $23.5M | $3.3M | |
| InsuranceLn 23 | $3.5M | $3.5M | ||
| Other expenses (24a–d)Ln 24 | $19.0M | $15.1M | $3.9M | |
| All other expensesLn 24e | $5.6M | $2.3M | $3.3M | $270 |
| Total functional expensesLn 25 | $613.8M | $530.1M | $79.7M | $4.1M |
Filing history
| Year | Money in | Money out | In minus out | Net assets | Download |
|---|---|---|---|---|---|
| FY2025 Latest | $630.6M | $655.2M | −$24.5M | $621.2M | 990 PDF |
| FY2024Filed with the IRS May 15, 2025 | $588.1M | $639.4M | −$51.3M | $600.4M | 990 PDF |
| FY2023 ViewingFiled with the IRS May 15, 2024 | $602.9M | $613.8M | −$10.9M | $590.2M | 990 PDF |
| FY2022 | $625.5M | $627.1M | −$1.7M | $557.2M | 990 PDF |
| FY2021Filed with the IRS May 12, 2022 | $468.4M | $539.3M | −$70.9M | $593.1M | 990 PDF |
| FY2020Filed with the IRS May 14, 2021 | $559.0M | $579.3M | −$20.3M | $564.6M | 990 PDF |
Schedules filed Part IV
See the full FY2023 990 (6 parts)
Part I · Summary $602,901,362 revenue, 12 lines filed
Part VI · Governance 29 of 30 board members independent, no flags
Part VIII · Statement of revenue $602,901,362 across 13 lines filed
Part IX · Statement of functional expenses $613,832,450 across 24 lines filed
Part X · Balance sheet $1,706,553,269 assets, 20 lines filed
Part XI · Reconciliation of net assets $590,189,963 net assets at year end
Form 990 e-file (XML) FY2023 from the IRS · Classification, formation year and address from the IRS Business Master File
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