Newberry Academy INC

Tax-deductible

Newberry, SC501(c)(3)Since 1966EIN 57-0479013Revenue $1.7M in FY2024

On file with the IRSnewberryacademy.com2055 Smith Rd, 29108-2224 · Newberry, SCTax-exempt since Aug 1966School — 170(b)(1)(A)(ii)

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To operate a private, independent, k-12 school.

501(c)(3) charity; gifts are tax-deductible.
76¢ of each $1 spent went to programs.
$71K paid to officers and key staff.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX · Pay: Part VII

Before you give

FY2024 · 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
FY2024
latest Form 990
Looks good: the latest return is for FY2024, 2 tax years back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
4 of 5
filings with a surplus
Average surplus $178K a year · 12% of revenue · last 5 filings
Fine: a surplus in 4 of the last 5 filings.
Pt I · Ln 19 · 5 filings
Spent on programs
76%
of spending
Looks good: 76% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Pay to officers and key staff
$71K
to officers and key staff · 4% of spending
Looks good: pay to officers and key staff is 4% of spending; 15% or less.
Pt VII · Sec A
Cash reserves
6 mo
of spending, in cash
Looks good: 6.2 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
1
named funder · $10K
Fine: 1 funder names it on their filings; under 3.
Funders’ Sch. I, 990-PF
Liabilities
$535K
32% of total assets
Looks good: liabilities are 32% of assets; 50% or less.
Pt X · Ln 26
Independent board members
6
of 6 voting members
Looks good: 6 of 6 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$1.7M
+9% vs prior year
Spent
$1.6M
To programs
76%
Net assets
$1.2M
By yearFY2019–FY2024
Revenue
$1.7M
FY2024▲ +9%
Tap a bar for its year
Revenue by fiscal year
FY2019$1.2M
FY2020$1.2M
FY2021$1.5M
FY2023$2.0M
FY2024$1.6M
FY2024$1.7M
Expenses
$1.6M
FY2024▼ -3%
Tap a bar for its year
Expenses by fiscal year
FY2019$1.1M
FY2020$1.1M
FY2021$1.1M
FY2023$1.6M
FY2024$1.7M
FY2024$1.6M
Net assets
$1.2M
FY2024▲ +11%
Tap a bar for its year
Net assets by fiscal year
FY2019$19K
FY2020$113K
FY2021$532K
FY2023$1.1M
FY2024$1.0M
FY2024$1.2M

From the FY2024 Form 990 · figures checked against the IRS filing · see the original

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Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2024. IRS ruling in Aug 1966.

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

Where the money goes

76 cents of each dollar spent went to programs.

Program services 76% · $1.2M Management & general 24% · $388K

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

7 people listed on the 990; $71K paid to officers and key staff.

Part VII, Section A · reportable compensation
Head of School
$71,317Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
Board Chairman
$0Pt VII · Sec A
Financial Chairman
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A

Compensation history total reportable pay by year · 3 named individuals · Part VII

NameFY2024FY2024FY2023FY2021FY2020FY2019
Nicole May——$73,833$60,100$58,925$18,328
Travis Gilliam$71,317$65,000————
Brian Fitzgerald—————$63,040

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 from kindergarten through twelfth grade in a private, independent school setting.

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Provided by the organization

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1 program · $1.2M · in their own filed words · FY2024
01

Successfully operated a private, independent school offering preschool individuals, starting at the age of 3, and students through grade 12, a high quality educational learning experience. The school is accredited by the south carolina independent school association (scisa).

$1.2Mprogram 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 · FY2025
Total grants receivedfrom 1 funder$10K

By the numbers

The FY2024 990, line by line.

1The main four
Money inPt VIII
$1.7M
Ln 12
Fees for servicesLn 2g$1.5M
Gifts and grantsLn 1h$160K
Other incomeLn 4–11$57K
Money outPt IX
$1.6M
Ln 25
Programscol B$1.2M
Managementcol C$388K
Owns and owesPt X
$1.2M
net assets · Ln 32
Cash and savingsLn 1–2$845K
Total assetsLn 16$1.7M
LiabilitiesLn 26$535K
PeoplePt VI, VII
7
listed · VII A
PaidVII A1
Voting boardVI 1a6
IndependentVI 1b6
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$160K
Government grantsLn 1e$116K
Fees for servicesLn 2g$1.5M
Investment incomeLn 3$8K
Other incomeLn 4–11$57K
Total revenueLn 12$1.7M
Assets in detailPt X, end of year
CashLn 1$745K
SavingsLn 2$100K
Cash and savings togetherLn 1–2$845K
Land, buildings, equipmentLn 10c$831K
Total assetsLn 16$1.7M
LiabilitiesLn 26$535K
Net assetsLn 32$1.2M
OperationsPt I, VI
EmployeesI 548
VolunteersI 60
Fiscal year endsHeaderDecember
Conflict-of-interest policyVI 12aNo
Whistleblower policyVI 13No
Records policyVI 14Yes
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY24End FY24
Cash and savingsLn 1–2$738K$845K
Land, buildings, equipmentLn 10c$794K$831K
Total assetsLn 16$1.6M$1.7M
LiabilitiesLn 26$532K$535K
Net assetsLn 32$1.0M$1.2M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Pay of current officers, directors and key staffLn 5$71K$50K$21K
Other salaries and wagesLn 7$949K$664K$285K
Pension plan contributionsLn 8$13K$9K$4K
Other employee benefitsLn 9$17K$12K$5K
Payroll taxesLn 10$74K$52K$22K
Advertising and promotionLn 12$7K$7K
Office expensesLn 13$22K$11K$11K
OccupancyLn 16$66K$66K
InterestLn 20$2K$753$753
Depreciation, depletion and amortizationLn 22$74K$52K$22K
InsuranceLn 23$26K$26K
Other expenses (24a–d)Ln 24$227K$212K$14K
All other expensesLn 24e$79K$76K$3K
Total functional expensesLn 25$1.6M$1.2M$388K$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 $1.6M$1.7M−$93K$1.0M 990 PDF
FY2023 $2.0M$1.6M$409K$1.1M 990 PDF
FY2022 Not on file
FY2021 $1.5M$1.1M$414K$532K 990 PDF
FY2020 $1.2M$1.1M$93K$113K 990 PDF
FY2019 $1.2M$1.1M$64K$19K 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 FY2024 990 (6 parts)
Part I · Summary $1,740,368 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $146,534$160,363
I-9 Program service revenuePrior year $1,405,323$1,515,347
I-10 Investment incomePrior year $13,704$7,941
I-11 Other revenuePrior year $24,974$56,717
I-12 Total revenuePrior year $1,590,535$1,740,368
I-13 Grants and similar amounts paidPrior year $500$0
I-14 Benefits paid to membersPrior year $0$0
I-15 Salaries and benefitsPrior year $1,134,943$1,123,910
I-16a Professional fundraising feesPrior year $0$0
I-17 Other expensesPrior year $547,846$502,248
I-18 Total expensesPrior year $1,683,289$1,626,158
I-19 Revenue less expensesPrior year −$92,754$114,210
Part VI · Governance 6 of 6 board members independent, 3 to look at
VI-1a Voting members of the governing body6
VI-1b Independent voting members6
VI-12a Written conflict of interest policyNo
VI-13 Written whistleblower policyNo
VI-15a Process for setting top official's payNo
VI-2 Family or business relationship among officers or directorsNo
VI-14 Document retention and destruction policyYes
Part VIII · Statement of revenue $1,740,368 across 8 lines filed
VIII-1b Membership dues$31,082
VIII-1e Government grants$115,658
VIII-1f All other contributions, gifts and grants$13,623
VIII-1h Total contributions, gifts and grants$160,363
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $1,515,347$1,515,347
VIII-3 Investment incomeExcluded from tax $7,941$7,941
VIII-8 Net income from fundraising eventsExcluded from tax $56,717$56,717
VIII-12 Total revenueRelated to mission $1,515,347 · Unrelated business $0 · Excluded from tax $64,658$1,740,368
Part IX · Statement of functional expenses $1,626,158 across 13 lines filed
IX-5 Pay of current officers, directors and key staffPrograms $49,922 · Management $21,395$71,317
IX-7 Other salaries and wagesPrograms $664,089 · Management $284,610$948,699
IX-8 Pension plan contributionsPrograms $8,873 · Management $3,803$12,676
IX-9 Other employee benefitsPrograms $11,873 · Management $5,089$16,962
IX-10 Payroll taxesPrograms $51,979 · Management $22,277$74,256
IX-12 Advertising and promotionPrograms $6,738$6,738
IX-13 Office expensesPrograms $11,047 · Management $11,047$22,094
IX-16 OccupancyPrograms $65,919$65,919
IX-20 InterestPrograms $753 · Management $753$1,506
IX-22 Depreciation, depletion and amortizationPrograms $52,092 · Management $22,325$74,417
IX-23 InsurancePrograms $26,253$26,253
IX-24 Other expenses (24a–d)Programs $212,353 · Management $14,431$226,784
IX-24e All other expensesPrograms $75,900 · Management $2,637$78,537
IX-25 Total functional expensesPrograms $1,237,791 · Management $388,367 · Fundraising $0$1,626,158
Part X · Balance sheet $1,697,901 assets, 10 lines filed
X-1 Cash, non-interest-bearingStart of year $643,002$744,542
X-2 Savings and temporary cash investmentsStart of year $95,020$100,266
X-4 Accounts receivableStart of year $49,279$22,401
X-10c Land, buildings and equipment, netStart of year $793,532$830,692
X-16 Total assetsStart of year $1,580,833$1,697,901
X-19 Deferred revenueStart of year $483,729$513,190
X-26 Total liabilitiesStart of year $532,400$535,258
X-27 Net assets without donor restrictionsStart of year $1,048,433$1,162,643
X-32 Total net assets or fund balancesStart of year $1,048,433$1,162,643
X-33 Total liabilities and net assetsStart of year $1,580,833$1,697,901
Part XI · Reconciliation of net assets $1,162,643 net assets at year end
XI-1 Total revenue$1,740,368
XI-2 Total expenses$1,626,158
XI-3 Revenue less expenses$114,210
XI-4 Net assets at start of year$1,048,433
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$1,162,643

Form 990 e-file (XML) FY2024 from the IRS · Classification, formation year and address from the IRS Business Master File

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