New Classical Academy Incorporated FY2020 filing

Tax-deductible

Asheville, NC501(c)(3)EducationEIN 20-3546735Revenue $504K in FY2020

On file with the IRSthenewclassicalacademy.org671 Sand Hill Rd, 28806-1527 · Asheville, NCTax-exempt since Sep 2006School — 170(b)(1)(A)(ii)

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Private school serving grades k-8

501(c)(3) charity; gifts are tax-deductible.
100¢ of each $1 spent went to programs.
$61K paid to officers and key staff.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX · Pay: Part VII

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FY2020 · Form 990Independent: from IRS data, not the org
Download 990
IRS status
501(c)(3)
not on the IRS revocation list
Looks good: listed by the IRS and not on the revocation list.
IRS BMF · Auto-Revocation List
Tax-deductible gifts
Yes
Donations are tax-deductible
Looks good: the IRS lists gifts to it as deductible.
IRS Pub. 78 · IRS BMF
Latest return
FY2025
latest Form 990
Looks good: the latest return is for FY2025, 1 tax year back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
4 of 6
filings with a surplus
Average surplus $17K a year · 3% of revenue · last 6 filings
Fine: a surplus in 4 of the last 6 filings.
Pt I · Ln 19 · 6 filings
Spent on programs
100%
of spending
Looks good: 100% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Pay to officers and key staff
$61K
to officers and key staff · 13% of spending
Looks good: pay to officers and key staff is 13% of spending; 15% or less.
Pt VII · Sec A
Cash reserves
5 mo
of spending, in cash
Looks good: 4.9 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
1
named funder · $253
Fine: 1 funder names it on their filings; under 3.
Funders’ Sch. I, 990-PF
Liabilities
$993K
92% of total assets
Concern: liabilities are 92% of assets; over 80%.
Pt X · Ln 26
Independent board members
0
of 1 voting members
Concern: none of 1 voting members are independent.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$504K
Spent
$484K
To programs
100%
Net assets
$84K
By yearFY2020–FY2025
Revenue
$504K
FY2020
Tap a bar for its year
Revenue by fiscal year
FY2020$504K
FY2021$599K
FY2022$651K
FY2023$705K
FY2024$753K
FY2025$788K
Expenses
$484K
FY2020
Tap a bar for its year
Expenses by fiscal year
FY2020$484K
FY2021$542K
FY2022$632K
FY2023$684K
FY2024$767K
FY2025$789K
Net assets
$84K
FY2020
Tap a bar for its year
Net assets by fiscal year
FY2020$84K
FY2021$141K
FY2022$159K
FY2023$180K
FY2024$166K
FY2025$166K

From the FY2020 Form 990 (year ending June 2020) · see the original

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You’re viewing the FY2020 filing — not the latest on file. See the latest (FY2025) →

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2025. IRS ruling in Sep 2006.

IRS Pub. 78 · IRS Auto-Revocation List · IRS Business Master File

Where the money goes

100 cents of each dollar spent went to programs.

Program services 100% · $483K Fundraising 0% · $865

Form 990 Part IX, line 25, columns B–D. Every line is in By the numbers.

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Who runs it and what they're paid

1 person listed on the 990; $61K paid to officers and key staff.

Part VII, Section A · reportable compensation · most recent filed roster (FY2019); the FY2020 filing did not itemize Part VII
$60,562Pt VII · Sec A

Andrew M Cross’s $96K as Director is at the 82nd percentile of top reported officer pay among 1612 $100K–1M 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 · 1 named individual · Part VII

NameFY2025FY2024FY2023FY2022FY2021FY2020
Andrew M Cross$96,438$90,442$75,838$73,042$63,980$60,562

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.

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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 15aNo

Programs and updates

Educates children in kindergarten through eighth grade.

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Provided by the organization

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1 program · $483K · in their own filed words · FY2019
01

The school operates on a standard 5 day a week schedule monday through friday from 9 am to 3 PM; students in our traditional program will attend all week. In addition we will offer a distance learning program and a home school enrichment program.

$483Kprogram expense

Funders

Who pays for it.

From grant filings on record. Receipts are incomplete: individual donors are never listed.

Grants

Schedule I · funders on record
Grants received · FY2023
Total grants receivedfrom 1 funder$253

By the numbers

The FY2020 990, line by line.

1The main four
Money inPt VIII
$504K
Ln 12
Fees for servicesLn 2g$489K
Gifts and grantsLn 1h$16K
Investment incomeLn 3$1
Money outPt IX
$484K
Ln 25
Programscol B$483K
Fundraisingcol D$865
Owns and owesPt X
$84K
net assets · Ln 32
Cash and savingsLn 1–2$198K
Total assetsLn 16$1.1M
LiabilitiesLn 26$993K
PeoplePt VI, VII
1
listed · VII A
PaidVII A1
Voting boardVI 1a1
IndependentVI 1b0
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$16K
Fees for servicesLn 2g$489K
Investment incomeLn 3$1
Total revenueLn 12$504K
Assets in detailPt X, end of year
CashLn 1$192K
SavingsLn 2$6K
Cash and savings togetherLn 1–2$198K
Land, buildings, equipmentLn 10c$874K
Total assetsLn 16$1.1M
LiabilitiesLn 26$993K
Net assetsLn 32$84K
OperationsPt I, VI
EmployeesI 513
Fiscal year endsHeaderJune
Conflict-of-interest policyVI 12aYes
Whistleblower policyVI 13No
Records policyVI 14No
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY20End FY20
Cash and savingsLn 1–2$103K$198K
Land, buildings, equipmentLn 10c$185K$874K
Total assetsLn 16$644K$1.1M
LiabilitiesLn 26$581K$993K
Net assetsLn 32$63K$84K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Pay of current officers, directors and key staffLn 5$61K$61K
Other salaries and wagesLn 7$251K$251K
Payroll taxesLn 10$24K$24K
Accounting feesLn 11c$6K$6K
OccupancyLn 16$16K$16K
Conferences, conventions and meetingsLn 19$4K$4K
InterestLn 20$50K$50K
Depreciation, depletion and amortizationLn 22$17K$17K
Other expenses (24a–d)Ln 24$35K$35K
All other expensesLn 24e$21K$21K$865
Total functional expensesLn 25$484K$483K$0$865

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2025 Latest $788K$789K−$347$166K 990 PDF
FY2024 $753K$767K−$14K$166K 990 PDF
FY2023 $705K$684K$21K$180K 990 PDF
FY2022 $651K$632K$19K$159K 990 PDF
FY2021 $599K$542K$57K$141K 990 PDF
FY2020 Viewing $504K$484K$20K$84K 990 PDF

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Schedules filed Part IV

III · Programs I · Grants R · Related orgs G · Fundraising L · Interested persons A · Public support F · Foreign M · Noncash
See the full FY2020 990 (6 parts)
Part I · Summary $504,275 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $25,893$15,755
I-9 Program service revenuePrior year $423,084$488,519
I-10 Investment incomePrior year $2$1
I-11 Other revenue$0
I-12 Total revenuePrior year $448,979$504,275
I-13 Grants and similar amounts paid$0
I-14 Benefits paid to members$0
I-15 Salaries and benefitsPrior year $287,776$335,434
I-16a Professional fundraising fees$0
I-17 Other expensesPrior year $139,026$148,702
I-18 Total expensesPrior year $426,802$484,136
I-19 Revenue less expensesPrior year $22,177$20,139
Part VI · Governance 0 of 1 board members independent, 3 to look at
VI-1a Voting members of the governing body1
VI-1b Independent voting members0
VI-13 Written whistleblower policyNo
VI-14 Document retention and destruction policyNo
VI-15a Process for setting top official's payNo
VI-2 Family or business relationship among officers or directorsNo
VI-12a Written conflict of interest policyYes
Part VIII · Statement of revenue $504,275 across 5 lines filed
VIII-1f All other contributions, gifts and grants$15,755
VIII-1h Total contributions, gifts and grants$15,755
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $488,519$488,519
VIII-3 Investment incomeRelated to mission $1$1
VIII-12 Total revenueRelated to mission $488,520$504,275
Part IX · Statement of functional expenses $484,136 across 10 lines filed
IX-5 Pay of current officers, directors and key staffPrograms $60,561$60,561
IX-7 Other salaries and wagesPrograms $250,912$250,912
IX-10 Payroll taxesPrograms $23,961$23,961
IX-11c Accounting feesPrograms $5,584$5,584
IX-16 OccupancyPrograms $15,860$15,860
IX-19 Conferences, conventions and meetingsPrograms $3,672$3,672
IX-20 InterestPrograms $49,727$49,727
IX-22 Depreciation, depletion and amortizationPrograms $17,155$17,155
IX-24 Other expenses (24a–d)Programs $35,236$35,236
IX-24e All other expensesPrograms $20,603 · Fundraising $865$21,468
IX-25 Total functional expensesPrograms $483,271 · Management $0 · Fundraising $865$484,136
Part X · Balance sheet $1,076,468 assets, 10 lines filed
X-1 Cash, non-interest-bearingStart of year $96,726$192,151
X-2 Savings and temporary cash investmentsStart of year $5,866$5,868
X-4 Accounts receivableStart of year $1,695$3,566
X-8 Inventories for sale or useStart of year $1,195$1,176
X-10c Land, buildings and equipment, netStart of year $185,449$873,707
X-16 Total assetsStart of year $644,491$1,076,468
X-19 Deferred revenueStart of year $94,412$177,037
X-26 Total liabilitiesStart of year $581,094$992,933
X-32 Total net assets or fund balancesStart of year $63,397$83,535
X-33 Total liabilities and net assetsStart of year $644,491$1,076,468
Part XI · Reconciliation of net assets $83,535 net assets at year end
XI-1 Total revenue$504,275
XI-2 Total expenses$484,136
XI-3 Revenue less expenses$20,139
XI-4 Net assets at start of year$63,397
XI-9 Other changes in net assets−$1
XI-10 Net assets at end of year$83,535

Form 990 e-file (XML) FY2020 from the IRS · Classification, formation year and address from the IRS Business Master File

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