New Independence Academy EIN 46-3248813 Form 990 (PDF) Claim this org

New Independence Academy

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Prepares children with autism and related disorders for happy, independent lives through skill-building and social integration. For fiscal year 2024 it reported $183K in revenue, $181K in expenses, and $125K in net assets.Pt I

Founded
2014
Type
Public charity (501(c)(3)) · Education
Location
Goldsboro, NC
Website
www.newindependence.org
Filings
4 on file (2021–2024)
Revenue
$183KFY2024
Expenses
$181K
Net assets
$125K
People
2
Filings
4
Updates
0
More identity details & actions ⌄
EIN  46-3248813 Public charity (501(c)(3)) Goldsboro, NC Founded 2014
Form 990 (PDF)
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Size
$100K–1M
What they do
Prepares children with autism and related disorders for happy, independent lives through skill-building and social integration.
Leadership
Victor Boyd · Vice Predident
Money in and out
$183K revenue, $181K expenses
Bottom line
8% program efficiency
Where the money goes · FY2024
Total revenue
$183K
Pt VIII · Ln 12
Total expenses
$181K
Pt IX · Ln 25
Net assets
$125K
Pt X · Ln 32
Revenue less expenses (Pt I · Ln 19): $2K
Where spending went · Part IX cols B–D
Program services $0.08 Management & general $0.92
Program efficiency
8%
of spending reaches programs▼ -41% vs prior filing year
Operating runway
8.3mo
months of highly liquid reserves at operating expense rate▲ +60% vs prior filing year
Surplus margin
+1%
revenue over expenses, this year▲ +103% vs prior filing year

Summary of the Filing

Part I · fiscal year 2024 · Form 990
Revenue
$183K
FY2024▼ -14%
Expenses
$181K
FY2024▼ -37%
Total assets
$125K
FY2024▼ -3%
Total liabilities
$0
FY2024▼ -100%
Total revenue
$183K
Pt VIII · Ln 12
Total expenses
$181K
Pt IX · Ln 25
Net assets
$125K
Pt X · Ln 32
Revenue less expensesPt I · Ln 19$2K
Total assetsPt X · Ln 16$125K
Program-expense ratioPt IX · col B8%
Voting members of governing bodyPt I · Ln 36
Independent voting membersPt I · Ln 4pending

Identity & Classification

Form 990 Header · IRS Business Master File
Legal nameHdr · item CNew Independence Academy
EINHdr · item D46-3248813
Principal addressHdr · item CGoldsboro, NC
WebsiteHdr · item Jwww.newindependence.org
Year of formationHdr · item L2014
State of legal domicileHdr · item MNC
Exempt statusHdr · item I501(c)(3) · active
NTEE classificationIRS BMFEducation (B28)
Ruling yearIRS BMFJul 2014

Governance & Policies

Part VI
Voting members of the governing bodyPt VI · Ln 1a6
Independent voting membersPt VI · Ln 1bpending
Conflict-of-interest policyPt VI · Ln 12aNo
Whistleblower policyPt VI · Ln 13No
Document retention policyPt VI · Ln 14Yes
CEO/top-official compensation independently reviewedPt VI · Ln 15aNo
Family or business relationships among officers/directorsPt VI · Ln 2No

Officers, Directors & Key Employees

Part VII, Section A · reportable compensation
Vice Predident
$0Pt VII · Sec A
President
$0Pt VII · Sec A
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Mission & Programs · Part III

Where the work happens

1 program service, described in the organization's own filed words · FY2024.
01

Our mission is to help prepare children diagnosed with high functioning autism and other pervasive development disorders to lead happy independent lives by creating an environment in which they can learn the skills necessary to integrate successfully into society

Pt IX · col B

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Statement of Revenue

Part VIII
Program service revenue$180K · 98%
Contributions & grants$3K · 2%
Program service revenue98%$180K
Contributions & grants2%$3K
Total revenueLn 12$183K

Statement of Functional Expenses

Part IX · allocated across program, management, and fundraising
Allocation · columns B–D
Program services $0.08 Management & general $0.92
Program services8%$15K
Management & general92%$166K
Total functional expensesLn 25$181K

Balance Sheet

Part X · end of year
CashLn 1$125K
Total assetsLn 16$125K
Total liabilitiesLn 26$0
Total net assetsLn 32$125K
Months of cash on handcomputed8.3

Financial Metrics

Form 990 · FY2024 · each ratio shown with the dollars behind it
Liquidity & Payout
Operating runway
Highly liquid reserves $125K · Operating expenses/yr $181K
8.3 months
Where the money goes
Program services
Program services $15K · Total expenses $181K
8%
Management & General
Management & general $166K · Total expenses $181K
92%
Fundraising
Fundraising $0 · Total expenses $181K
0%
Cost to raise $1
Fundraising expense (2-yr avg) $170 · Solicited contributions (2-yr avg) $1K
Solicited contributions below reporting floor
Where the money comes from
Contribution dependence
Contributions & grants $3K · Total revenue $183K
2%
Government reliance
Government grants — · Total revenue $183K
Earned-income share
Program service revenue $180K · Total revenue $183K
98%
Investment reliance
Investment income $0 · Total revenue $183K
0%
Program self-sufficiency
Program service revenue $180K · Total expenses $181K
100%
Growth & trend
Revenue growth (YoY)
This year $183K · Prior year $212K
-14%
Revenue CAGR
FY2020 $238K · FY2024 $183K
-6%
Net-asset trend (YoY)
End of year $125K · Beginning of year —
Beginning net assets not meaningfully positive — showing dollar change
Balance sheet
Surplus Margin
Revenue $183K · Expenses $181K
+1%
Liabilities-to-Assets
Total liabilities — · Total assets $125K
Net-asset ratio
Net assets $125K · Total assets $125K
100%
Marketable Investment Share
Publicly traded securities (Pt X, ln 11) — · Other securities (Pt X, ln 12) — · Total assets (Pt X, ln 16) $125K
Excludes program-related investments (Pt X, ln 13)
People & payroll
Highest Reported Total Compensation
Individual Victor Boyd · Reported title VICE PREDIDENT · Highest reported compensation $0 · Total expenses $181K
0%
Personnel share
Salaries, benefits & payroll (Pt IX 5-10) $143K · Total expenses $181K
79%
Peer comparison

Same NTEE category, revenue band, and state where available. Descriptive — not a grade.

MetricThis orgPeer medianPercentile
Program ratio 8%
Overhead ratio 92%
Revenue growth -14%

Straight from the Form 990 — descriptive, not an evaluation. A ratio is hidden when its base is zero or too small to be meaningful; the dollars are always shown.

Grants

Schedule I · funders on record
Grants received · FY2023
Total grants receivedfrom 1 funder$115

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Filings & Schedule Manifest

Part IV
III · Programs I · Grants R · Related orgs G · Fundraising L · Interested persons A · Public support F · Foreign M · Noncash
FY2024 (Latest)$183K revenue · viewing · ⤓ 990 PDF
FY2023$212K revenue · ⤓ 990 PDF
FY2022$222K revenue · ⤓ 990 PDF
FY2021$238K revenue · ⤓ 990 PDF

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Sources

Every figure above is drawn from these filings
Form 990 e-file (XML) · FY2024IRS
Classification, formation year, addressIRS Business Master File
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