The New School FY2020 filing

Tax-deductible

Fayetteville, AR501(c)(3)Since 1971EIN 71-0422196Revenue $7.0M in FY2020

On file with the IRSthenewschool.org2514 N New School Pl, 72703-1821 · Fayetteville, ARTax-exempt since Aug 1972School — 170(b)(1)(A)(ii)

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The New School, an independent School, is dedicated to inspiring a love of learning and empowering students to reach their potential for academic achievement, creativity, and citizenship.

501(c)(3) charity; gifts are tax-deductible.
82¢ of each $1 spent went to programs.
$474K 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

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
0 of 6
filings with a surplus
Average deficit $1.9M a year · 24% of revenue · last 6 filings
Concern: a surplus in 0 of the last 6 filings.
Pt I · Ln 19 · 6 filings
Spent on programs
82%
of spending
Looks good: 82% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Pay to officers and key staff
$474K
to officers and key staff · 5% of spending
Looks good: pay to officers and key staff is 5% of spending; 15% or less.
Pt VII · Sec A
Cash reserves
6 mo
of spending, in cash
Looks good: 5.8 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
4
named funders · $54K
Looks good: 4 funders name it on their filings; 3 or more.
Funders’ Sch. I, 990-PF
Liabilities
$23.6M
56% of total assets
Fine: liabilities are 56% of assets; 50% to 65%.
Pt X · Ln 26
Independent board members
12
of 12 voting members
Looks good: 12 of 12 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$7.0M
Spent
$9.2M
To programs
82%
Net assets
$18.7M
By yearFY2020–FY2025
Revenue
$7.0M
FY2020
Tap a bar for its year
Revenue by fiscal year
FY2020$7.0M
FY2021$6.4M
FY2022$6.7M
FY2023$7.2M
FY2024$9.9M
FY2025$11.1M
Expenses
$9.2M
FY2020
Tap a bar for its year
Expenses by fiscal year
FY2020$9.2M
FY2021$8.9M
FY2022$9.2M
FY2023$10.3M
FY2024$10.8M
FY2025$11.4M
Net assets
$18.7M
FY2020
Tap a bar for its year
Net assets by fiscal year
FY2020$18.7M
FY2021$16.3M
FY2022$13.5M
FY2023$10.6M
FY2024$9.8M
FY2025$9.5M

From the FY2020 Form 990 (year ending June 2020) · figures checked against the IRS filing · 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 Aug 1972.

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

Where the money goes

82 cents of each dollar spent went to programs.

Program services 82% · $7.6M Management & general 15% · $1.4M Fundraising 3% · $262K

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

15 people listed on the 990; $474K 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
Head of School, Interim July 2019
$221,537Pt VII · Sec A
Head of School July 2019-June 2020
$137,500Pt VII · Sec A
Chief Financial Officer
$115,059Pt VII · Sec A
President
$0Pt VII · Sec A
Board Member
$0Pt VII · Sec A
Board Member
$0Pt VII · Sec A
Board Member
$0Pt VII · Sec A
$0Pt VII · Sec A

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

NameFY2025FY2024FY2023FY2022FY2021FY2020
Nancy Lang$402,985$414,308$357,101$342,410$342,283$137,500
Susan Groesbeck—————$221,537
Erin Goerke$144,086$137,276$132,761$130,970$125,251$115,059

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 →

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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 15aYes

Programs and updates

Inspires learning and empowers students for academic achievement, creativity, and citizenship.

Provided by the organization

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1 program · $7.6M · in their own filed words · FY2019
01

Provide schooling for pre-school through high-school aged children.

$7.6Mprogram 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 · FY2024
See all 4 funders →

By the numbers

The FY2020 990, line by line.

1The main four
Money inPt VIII
$7.0M
Ln 12
Fees for servicesLn 2g$5.3M
Gifts and grantsLn 1h$1.5M
Other incomeLn 4–11$100K
Money outPt IX
$9.2M
Ln 25
Programscol B$7.6M
Managementcol C$1.4M
Fundraisingcol D$262K
Owns and owesPt X
$18.7M
net assets · Ln 32
Cash and savingsLn 1–2$4.5M
Total assetsLn 16$42.3M
LiabilitiesLn 26$23.6M
PeoplePt VI, VII
15
listed · VII A
PaidVII A3
Voting boardVI 1a12
IndependentVI 1b12
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$1.5M
Government grantsLn 1e$1.0M
Fees for servicesLn 2g$5.3M
Investment incomeLn 3$70K
Other incomeLn 4–11$100K
Gains on assetsLn 7$47K
Total revenueLn 12$7.0M
Assets in detailPt X, end of year
CashLn 1$4.5M
Cash and savings togetherLn 1–2$4.5M
InvestmentsLn 11–13$1.5M
Land, buildings, equipmentLn 10c$29.4M
Other assetsLn 15$90K
Total assetsLn 16$42.3M
LiabilitiesLn 26$23.6M
Net assetsLn 32$18.7M
OperationsPt I, VI
EmployeesI 5192
VolunteersI 650
Fiscal year endsHeaderJune
Conflict-of-interest policyVI 12aYes
Whistleblower policyVI 13Yes
Records policyVI 14Yes
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY20End FY20
Cash and savingsLn 1–2$4.3M$4.5M
InvestmentsLn 11–13$1.4M$1.5M
Land, buildings, equipmentLn 10c$30.3M$29.4M
Total assetsLn 16$45.2M$42.3M
LiabilitiesLn 26$24.3M$23.6M
Net assetsLn 32$20.9M$18.7M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Pay of current officers, directors and key staffLn 5$475K$338K$137K
Other salaries and wagesLn 7$4.5M$3.5M$803K$159K
Other employee benefitsLn 9$395K$319K$64K$12K
Payroll taxesLn 10$343K$274K$59K$10K
Legal feesLn 11b$14K$14K
Accounting feesLn 11c$40K$40K
Investment management feesLn 11f$27K$12K$603$14K
Other fees for servicesLn 11g$34K$34K
Advertising and promotionLn 12$75K$30K$45K
Information technologyLn 14$20K$20K
OccupancyLn 16$243K$243K
InterestLn 20$745K$745K
Depreciation, depletion and amortizationLn 22$1.2M$1.2M
InsuranceLn 23$105K$70K$35K
Other expenses (24a–d)Ln 24$810K$711K$92K$7K
All other expensesLn 24e$239K$166K$59K$14K
Total functional expensesLn 25$9.2M$7.6M$1.4M$262K

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2025 Latest $11.1M$11.4M−$335K$9.5M 990 PDF
FY2024 $9.9M$10.8M−$884K$9.8M 990 PDF
FY2023 $7.2M$10.3M−$3.1M$10.6M 990 PDF
FY2022 $6.7M$9.2M−$2.5M$13.5M 990 PDF
FY2021 $6.4M$8.9M−$2.5M$16.3M 990 PDF
FY2020 Viewing $7.0M$9.2M−$2.2M$18.7M 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 $7,007,388 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $407,202$1,525,652
I-9 Program service revenuePrior year $6,310,029$5,311,549
I-10 Investment incomePrior year $38,926$70,371
I-11 Other revenuePrior year $38,662$99,816
I-12 Total revenuePrior year $6,794,819$7,007,388
I-13 Grants and similar amounts paidPrior year $0$0
I-14 Benefits paid to membersPrior year $0$0
I-15 Salaries and benefitsPrior year $5,565,356$5,689,492
I-16a Professional fundraising feesPrior year $0$0
I-17 Other expensesPrior year $4,174,473$3,523,659
I-18 Total expensesPrior year $9,739,829$9,213,151
I-19 Revenue less expensesPrior year −$2,945,010−$2,205,763
Part VI · Governance 12 of 12 board members independent, no flags
VI-1a Voting members of the governing body12
VI-1b Independent voting members12
VI-2 Family or business relationship among officers or directorsNo
VI-12a Written conflict of interest policyYes
VI-13 Written whistleblower policyYes
VI-14 Document retention and destruction policyYes
VI-15a Process for setting top official's payYes
Part VIII · Statement of revenue $7,007,388 across 9 lines filed
Lines not itemized here account for $11,993 of total revenue; see the IRS return.
VIII-1e Government grants$1,042,100
VIII-1f All other contributions, gifts and grants$483,552
VIII-1h Total contributions, gifts and grants$1,525,652
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $5,311,549$5,311,549
VIII-3 Investment incomeExcluded from tax $22,937$22,937
VIII-7 Net gain or loss on sales of assetsExcluded from tax $47,434$47,434
VIII-8 Net income from fundraising eventsExcluded from tax $74,704$74,704
VIII-11a-d Other revenue, itemized rows (sum of 11a–11d as filed)Related to mission $13,119$13,119
VIII-12 Total revenueRelated to mission $5,336,661 · Unrelated business $0 · Excluded from tax $145,075$7,007,388
Part IX · Statement of functional expenses $9,213,151 across 16 lines filed
IX-5 Pay of current officers, directors and key staffPrograms $337,500 · Management $137,212$474,712
IX-7 Other salaries and wagesPrograms $3,513,801 · Management $803,428 · Fundraising $159,096$4,476,325
IX-9 Other employee benefitsPrograms $318,787 · Management $64,480 · Fundraising $12,022$395,289
IX-10 Payroll taxesPrograms $274,130 · Management $58,831 · Fundraising $10,205$343,166
IX-11b Legal feesManagement $13,744$13,744
IX-11c Accounting feesManagement $40,424$40,424
IX-11f Investment management feesPrograms $11,969 · Management $603 · Fundraising $14,410$26,982
IX-11g Other fees for servicesManagement $34,003$34,003
IX-12 Advertising and promotionManagement $29,628 · Fundraising $45,070$74,698
IX-14 Information technologyManagement $20,217$20,217
IX-16 OccupancyPrograms $242,761$242,761
IX-20 InterestPrograms $744,810$744,810
IX-22 Depreciation, depletion and amortizationPrograms $1,172,132$1,172,132
IX-23 InsurancePrograms $70,078 · Management $35,000$105,078
IX-24 Other expenses (24a–d)Programs $710,926 · Management $91,630 · Fundraising $7,062$809,618
IX-24e All other expensesPrograms $166,392 · Management $58,664 · Fundraising $14,136$239,192
IX-25 Total functional expensesPrograms $7,563,286 · Management $1,387,864 · Fundraising $262,001$9,213,151
Part X · Balance sheet $42,347,790 assets, 15 lines filed
X-1 Cash, non-interest-bearingStart of year $4,287,993$4,456,449
X-3 Pledges and grants receivableStart of year $9,063,764$6,945,223
X-4 Accounts receivableStart of year $57,294$18,636
X-10c Land, buildings and equipment, netStart of year $30,317,148$29,355,816
X-11 Publicly traded securitiesStart of year $1,396,558$1,482,033
X-15 Other assetsStart of year $119,765$89,633
X-16 Total assetsStart of year $45,242,522$42,347,790
X-17 Accounts payable and accrued expensesStart of year $646,762$651,179
X-19 Deferred revenueStart of year $1,358,247$1,186,070
X-25 Other liabilitiesStart of year $26,147$3,031
X-26 Total liabilitiesStart of year $24,327,097$23,608,448
X-27 Net assets without donor restrictionsStart of year $19,462,495$17,204,498
X-28 Net assets with donor restrictionsStart of year $1,452,930$1,534,844
X-32 Total net assets or fund balancesStart of year $20,915,425$18,739,342
X-33 Total liabilities and net assetsStart of year $45,242,522$42,347,790
Part XI · Reconciliation of net assets $18,739,342 net assets at year end
XI-1 Total revenue$7,007,388
XI-2 Total expenses$9,213,151
XI-3 Revenue less expenses−$2,205,763
XI-4 Net assets at start of year$20,915,425
XI-5 Net unrealized gains (losses) on investments$29,680
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$18,739,342

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

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