Collegiate School
Collegiate School: Declining Revenue, High Liabilities, and Negative Net Assets Raise Concerns
EIN: 221489906 · Passaic, NJ · NTEE: B24Z · Updated: 2026-04-04
About Collegiate School
Collegiate School (EIN: 221489906) is a nonprofit organization based in Passaic, NJ, classified under NTEE code B24Z. The organization reported total revenue of $1.7M and total assets of $355K according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Collegiate School's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
AI Transparency Report
Mission Effectiveness Score
NonprofitSpending's AI analysis rates Collegiate School with a Mission Score of 65 out of 100 (Good). This score reflects the organization's overall financial transparency, program spending efficiency, and governance indicators derived from IRS 990 public filings.
Spending Breakdown
- admin: 15%
- programs: 70%
- fundraising: 15%
According to IRS 990 filings, Collegiate School allocates its expenses as follows: admin: 15%, programs: 70%, fundraising: 15%. Approximately 70% goes to programs, indicating moderate mission focus.
Executive Compensation Analysis
Executive compensation is not transparently reported in the provided filings, consistently showing 'c0%', which makes a proper assessment impossible.
Executive compensation data is sourced from IRS 990 filings, which require nonprofits to disclose the compensation of officers, directors, trustees, and key employees. NonprofitSpending analyzes this data relative to the organization's total revenue and sector benchmarks to assess whether executive pay is reasonable.
Red Flags
The following concerns were identified during AI analysis of Collegiate School's IRS 990 filings:
- Consistent negative net assets and a declining trend over several years indicate potential long-term financial instability.
- Revenue has shown a general downward trend from $1,972,705 in 2021 to $1,671,980 in 2023, while expenses have remained high.
- The lack of specific executive compensation data ('c0%') is a significant red flag for transparency and accountability.
Strengths
The following positive indicators were identified for Collegiate School:
- Despite financial challenges, the organization has maintained operations over several years, suggesting resilience.
Frequently Asked Questions about Collegiate School
What does Collegiate School do?
Collegiate School is a nonprofit organization in the Education sector, located in Passaic, New Jersey. It is classified under NTEE code B24Z.
How much revenue does Collegiate School have?
Collegiate School reported total revenue of $1,722,333. Based on 13 IRS 990 filings on record.
What are Collegiate School's total assets?
Collegiate School holds total assets of $354,857 as reported in IRS 990 filings.
Where is Collegiate School located?
Collegiate School is based in Passaic, New Jersey.
What is Collegiate School's EIN?
Collegiate School's Employer Identification Number (EIN) is 221489906. This is the unique tax ID assigned by the IRS for tax-exempt organizations.
What type of nonprofit is Collegiate School?
Collegiate School is classified under NTEE code B24Z (Education).
Is Collegiate School a registered 501(c)(3)?
Yes, Collegiate School is recognized as a tax-exempt organization by the IRS. EIN: 221489906.
Does Collegiate School file IRS Form 990?
Yes, Collegiate School has 13 IRS Form 990 filings on record. The most recent covers tax period 202306.
What was Collegiate School's revenue in 2023?
In the 202306 filing period, Collegiate School reported total revenue of $1,671,980, total expenses of $1,850,891, and net assets of $387,735.
Is Collegiate School's revenue growing or declining?
Collegiate School's revenue is declining. Revenue went from $1,804,083 (202206) to $1,671,980 (202306), a -7.3% change. Based on 13 filings on record.
What is Collegiate School's most recent 990 filing?
The most recent IRS Form 990 filing for Collegiate School covers tax period 202306. It shows revenue of $1,671,980, expenses of $1,850,891, total assets of $387,735, and liabilities of $173,976.
How much does Collegiate School spend on programs vs administration?
Based on IRS 990 analysis, Collegiate School allocates approximately 70% of expenses to program services, 15% to administrative costs, and 15% to fundraising. Program spending is moderate relative to overhead.
Is Collegiate School a trustworthy charity?
Based on AI analysis of IRS 990 data, Collegiate School shows mixed signals. Mission Score: 65/100 (Good). 3 red flags identified. 1 strength noted.
What are the red flags for Collegiate School?
The following concerns were identified: Consistent negative net assets and a declining trend over several years indicate potential long-term financial instability.. Revenue has shown a general downward trend from $1,972,705 in 2021 to $1,671,980 in 2023, while expenses have remained high.. The lack of specific executive compensation data ('c0%') is a significant red flag for transparency and accountability.. These flags are based on automated analysis of IRS 990 public filings and should be verified independently.
What are Collegiate School's strengths?
Positive indicators for Collegiate School include: Despite financial challenges, the organization has maintained operations over several years, suggesting resilience.. These findings are derived from AI analysis of the organization's financial filings.
How does Collegiate School compensate executives?
Executive compensation is not transparently reported in the provided filings, consistently showing 'c0%', which makes a proper assessment impossible. Executive compensation data is sourced from IRS 990 filings, which require disclosure of officer, director, and key employee pay.
Given the consistent negative net assets and declining revenue, what is the long-term sustainability plan for Collegiate School?
The provided data does not detail a sustainability plan, but the trend suggests a need for significant financial restructuring or increased fundraising to address the deficit and declining income.
Filing History
IRS 990 filing history for Collegiate School showing financial trends over 13 years of public records:
Over 13 years of IRS 990 filings (2011–2023), Collegiate School's revenue has declined by 20.7%, moving from $2.1M to $1.7M. Total assets increased by 60.7% over the same period, from $241K to $388K. Total functional expenses fell by 9.4%, from $2.0M to $1.9M. In its most recent filing year (2023), Collegiate School reported a deficit of $179K, with expenses exceeding revenue. The organization holds $174K in liabilities against $388K in assets (debt-to-asset ratio: 44.9%), resulting in net assets of $214K.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. | |
|---|---|---|---|---|---|---|
| 2023 | $1.7M | $1.9M | $388K | $174K | — | View 990 |
| 2022 | $1.8M | $1.9M | $570K | $178K | — | View 990 |
| 2021 | $2.0M | $1.6M | $717K | $277K | — | View 990 |
| 2020 | $1.7M | $1.7M | $573K | $463K | — | View 990 |
| 2019 | $1.9M | $1.7M | $377K | $262K | — | View 990 |
| 2018 | $1.8M | $1.8M | $229K | $294K | — | View 990 |
| 2017 | $1.9M | $1.9M | $168K | $277K | — | View 990 |
| 2016 | $2.0M | $1.9M | $210K | $286K | — | View 990 |
| 2015 | $1.9M | $2.0M | $198K | $314K | — | View 990 |
| 2014 | $2.0M | $2.0M | $228K | $290K | — | View 990 |
| 2013 | $1.9M | $1.9M | $253K | $327K | — | View 990 |
| 2012 | $2.0M | $2.0M | $315K | $353K | — | View 990 |
| 2011 | $2.1M | $2.0M | $241K | $208K | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $1.7M, expenses of $1.9M, and assets of $388K (revenue -7.3% year-over-year).
- 2022: Revenue of $1.8M, expenses of $1.9M, and assets of $570K (revenue -8.5% year-over-year).
- 2021: Revenue of $2.0M, expenses of $1.6M, and assets of $717K (revenue +13.5% year-over-year).
- 2020: Revenue of $1.7M, expenses of $1.7M, and assets of $573K (revenue -7.8% year-over-year).
- 2019: Revenue of $1.9M, expenses of $1.7M, and assets of $377K (revenue +4.5% year-over-year).
- 2018: Revenue of $1.8M, expenses of $1.8M, and assets of $229K (revenue -5.2% year-over-year).
- 2017: Revenue of $1.9M, expenses of $1.9M, and assets of $168K (revenue -3.2% year-over-year).
- 2016: Revenue of $2.0M, expenses of $1.9M, and assets of $210K (revenue +2.1% year-over-year).
- 2015: Revenue of $1.9M, expenses of $2.0M, and assets of $198K (revenue -3.9% year-over-year).
- 2014: Revenue of $2.0M, expenses of $2.0M, and assets of $228K (revenue +5.9% year-over-year).
- 2013: Revenue of $1.9M, expenses of $1.9M, and assets of $253K (revenue -3.5% year-over-year).
- 2012: Revenue of $2.0M, expenses of $2.0M, and assets of $315K (revenue -7.0% year-over-year).
- 2011: Revenue of $2.1M, expenses of $2.0M, and assets of $241K.
Data Sources and Methodology
This transparency report for Collegiate School is generated by NonprofitSpending's AI analysis engine. The data is sourced from publicly available IRS 990 filings accessed through the ProPublica Nonprofit Explorer API and IRS electronic filing records. The Mission Score, spending breakdown, and other analytical insights are produced by artificial intelligence and should be used as one of multiple factors when evaluating a nonprofit organization.
IRS 990 forms are annual information returns that most tax-exempt organizations must file with the IRS. These forms provide detailed financial information including revenue, expenses, assets, liabilities, and compensation of officers. NonprofitSpending processes this data to provide accessible transparency reports for donors, researchers, and the general public.
Disclaimer
AI-generated analysis based on IRS public records. Not financial or legal advice. Verify information directly with the organization.