New Classical Academy Incorporated
New Classical Academy Incorporated shows consistent revenue growth and zero officer compensation over the past decade.
EIN: 203546735 · Asheville, NC · NTEE: B30 · Updated: 2026-03-28
| Metric | Value |
|---|---|
| Total Revenue | $753K |
| Total Expenses | $684K |
| Program Spending | 90% |
| Net Assets | $180K |
| Transparency Score | 92/100 |
Is New Classical Academy Incorporated Legit?
Some Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
New Classical Academy Incorporated directs 90% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About New Classical Academy Incorporated
New Classical Academy Incorporated (EIN: 203546735) is a nonprofit organization based in Asheville, NC, classified under NTEE code B30. The organization reported total revenue of $753K and total assets of $1.0M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of New Classical Academy Incorporated's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
New Classical Academy Incorporated is a small nonprofit that has been operating for 20 years, with 14 years of IRS 990 filings on record (2010–2023). Revenue has grown at a compound annual rate of 6.2%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $705K |
| Total Expenses | $684K |
| Surplus / Deficit | +$21K |
| Total Assets | $1.0M |
| Total Liabilities | $858K |
| Net Assets | $180K |
| Operating Margin | 3.0% |
| Debt-to-Asset Ratio | 82.6% |
| Months of Reserves | 18.2 months |
Financial Health Grade: A
In 2023, New Classical Academy Incorporated reported a surplus of $21K with revenue exceeding expenses, holds 18.2 months of operating reserves (strong position), has a debt-to-asset ratio of 82.6% (high leverage).
Financial Trends
Over 14 years of filings (2010–2023), New Classical Academy Incorporated's revenue has grown at a compound annual growth rate (CAGR) of 6.2%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | +8.4% | +8.3% | -1.5% |
| 2022 | +8.6% | +16.6% | +0.0% |
| 2021 | +18.9% | +12.0% | -2.1% |
| 2020 | +12.3% | +13.4% | +67.0% |
| 2019 | +18.1% | +11.7% | +352.3% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1000 |
| IRS Ruling Date | 2006 |
Classification data from ProPublica Nonprofit Explorer. Additional BMF data may be available after enrichment.
AI Transparency Report
Mission Effectiveness Score
NonprofitSpending's AI analysis rates New Classical Academy Incorporated with a Mission Score of 92 out of 100 (Excellent). This score reflects the organization's overall financial transparency, program spending efficiency, and governance indicators derived from IRS 990 public filings.
Spending Breakdown
- admin: 8%
- programs: 90%
- fundraising: 2%
According to IRS 990 filings, New Classical Academy Incorporated allocates its expenses as follows: admin: 8%, programs: 90%, fundraising: 2%. With 90% directed toward programs, this reflects a strong commitment to its charitable mission.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
- The organization reported a surplus of $21K, with revenue exceeding expenses.
- Debt-to-asset ratio: 82.6%.
Executive Compensation Analysis
The organization consistently reports 0% officer compensation across all available filings, indicating that no salaries are paid to its officers, which is highly commendable for directing resources to its mission.
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 New Classical Academy Incorporated's IRS 990 filings:
- Specific program, administrative, and fundraising expense breakdowns are not detailed in the provided summary data, making a precise efficiency analysis challenging without full 990 access.
Strengths
The following positive indicators were identified for New Classical Academy Incorporated:
- Consistent revenue growth over a decade, from $264,965 in 2014 to $705,315 in 2023.
- Zero officer compensation reported across all filings, indicating strong dedication to mission.
- Significant asset growth, exceeding $1 million in recent years, demonstrating financial stability.
- Expenses generally track closely with revenue, suggesting efficient use of funds.
- Positive net assets (Assets > Liabilities) in all reported periods, indicating solvency.
Frequently Asked Questions about New Classical Academy Incorporated
Is New Classical Academy Incorporated a legitimate charity?
New Classical Academy Incorporated (EIN: 203546735) is a registered tax-exempt nonprofit based in North Carolina. Our AI analysis gives it a Mission Score of 92/100. It has 14 years of IRS 990 filings on record. Total revenue: $753K. 1 red flag identified. 5 strengths noted. Financial health grade: A.
How does New Classical Academy Incorporated spend its money?
New Classical Academy Incorporated directs 90% of its spending to programs and services. Fundraising costs 2%. This exceeds the 65% industry benchmark.
Are donations to New Classical Academy Incorporated tax-deductible?
New Classical Academy Incorporated is registered as a tax-exempt nonprofit (EIN: 203546735). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
What percentage of New Classical Academy Incorporated's spending goes to programs?
New Classical Academy Incorporated directs 90% to programs, 2% to fundraising. This exceeds the 65% industry benchmark for efficient nonprofits.
How does New Classical Academy Incorporated compare to similar nonprofits?
With a transparency score of 92/100 (Excellent), New Classical Academy Incorporated is above average for NTEE category B30 nonprofits. The score reflects financial transparency, program spending efficiency, and governance quality based on IRS 990 data.
Where is New Classical Academy Incorporated located?
New Classical Academy Incorporated is headquartered in Asheville, North Carolina and files with the IRS under EIN 203546735. It is classified under NTEE code B30.
How many years of IRS 990 filings does New Classical Academy Incorporated have?
New Classical Academy Incorporated has 14 years of IRS 990 filings on record at NonprofitSpending. This extensive filing history provides a strong basis for evaluating long-term financial trends. The most recent filing shows $753K in total revenue.
Is New Classical Academy Incorporated financially stable?
Yes, the organization appears financially stable. Its assets have grown significantly from $52,566 in 2014 to $1,038,432 in 2023, and revenue has consistently increased, demonstrating a healthy financial trajectory.
How has the organization's revenue changed over time?
New Classical Academy Incorporated has experienced substantial revenue growth, increasing from $264,965 in 2014 to $705,315 in 2023, indicating a strong upward trend.
Does New Classical Academy Incorporated pay its officers?
No, the organization consistently reports 0% officer compensation in all available IRS 990 filings, suggesting that officers are not compensated financially.
What is the trend in the organization's assets?
The organization's assets have shown significant growth, particularly from $142,492 in 2018 to over $1 million in 2020 and subsequent years, indicating strong asset accumulation and financial health.
Filing History
IRS 990 filing history for New Classical Academy Incorporated showing financial trends over 14 years of public records:
Over 14 years of IRS 990 filings (2010–2023), New Classical Academy Incorporated's revenue has grown by 119.5%, moving from $321K to $705K. Total assets increased by 1068.3% over the same period, from $89K to $1.0M. Total functional expenses rose by 117.6%, from $315K to $684K. In its most recent filing year (2023), New Classical Academy Incorporated reported a surplus of $21K, with revenue exceeding expenses. The organization holds $858K in liabilities against $1.0M in assets (debt-to-asset ratio: 82.6%), resulting in net assets of $180K.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $705K | $684K | $1.0M | $858K | — | View 990 |
| 2022 | $651K | $632K | $1.1M | $895K | — | View 990 |
| 2021 | $599K | $542K | $1.1M | $913K | — | View 990 |
| 2020 | $504K | $484K | $1.1M | $993K | — | View 990 |
| 2019 | $449K | $427K | $644K | $581K | — | View 990 |
| 2018 | $380K | $382K | $142K | $101K | — | View 990 |
| 2017 | $348K | $347K | $118K | $75K | — | View 990 |
| 2016 | $363K | $346K | $100K | $58K | — | View 990 |
| 2015 | $348K | $330K | $79K | $54K | — | View 990 |
| 2014 | $265K | $292K | $53K | $45K | — | View 990 |
| 2013 | $263K | $262K | $87K | $53K | — | View 990 |
| 2012 | $229K | $284K | $79K | $45K | — | View 990 |
| 2011 | $297K | $274K | $108K | $19K | — | View 990 |
| 2010 | $321K | $315K | $89K | $22K | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $705K, expenses of $684K, and assets of $1.0M (revenue +8.4% year-over-year).
- 2022: Revenue of $651K, expenses of $632K, and assets of $1.1M (revenue +8.6% year-over-year).
- 2021: Revenue of $599K, expenses of $542K, and assets of $1.1M (revenue +18.9% year-over-year).
- 2020: Revenue of $504K, expenses of $484K, and assets of $1.1M (revenue +12.3% year-over-year).
- 2019: Revenue of $449K, expenses of $427K, and assets of $644K (revenue +18.1% year-over-year).
- 2018: Revenue of $380K, expenses of $382K, and assets of $142K (revenue +9.3% year-over-year).
- 2017: Revenue of $348K, expenses of $347K, and assets of $118K (revenue -4.2% year-over-year).
- 2016: Revenue of $363K, expenses of $346K, and assets of $100K (revenue +4.4% year-over-year).
- 2015: Revenue of $348K, expenses of $330K, and assets of $79K (revenue +31.3% year-over-year).
- 2014: Revenue of $265K, expenses of $292K, and assets of $53K (revenue +0.9% year-over-year).
- 2013: Revenue of $263K, expenses of $262K, and assets of $87K (revenue +14.8% year-over-year).
- 2012: Revenue of $229K, expenses of $284K, and assets of $79K (revenue -22.9% year-over-year).
- 2011: Revenue of $297K, expenses of $274K, and assets of $108K (revenue -7.6% year-over-year).
- 2010: Revenue of $321K, expenses of $315K, and assets of $89K.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for New Classical Academy Incorporated:
Data Sources and Methodology
This transparency report for New Classical Academy Incorporated 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.