Newark Boys Chorus School
Newark Boys Chorus School: Financial Instability Amidst Mission Delivery
EIN: 221893378 · Newark, NJ · NTEE: B24Z · Updated: 2026-04-04
| Metric | Value |
|---|---|
| Total Revenue | $223K |
| Total Expenses | $758K |
| Program Spending | 70% |
| Net Assets | $-125,634 |
| Transparency Score | 75/100 |
Is Newark Boys Chorus School Legit?
Some Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Newark Boys Chorus School directs 70% of its spending to programs. This meets the industry benchmark of 65% for efficient nonprofits.
About Newark Boys Chorus School
Newark Boys Chorus School (EIN: 221893378) is a nonprofit organization based in Newark, NJ, classified under NTEE code B24Z. The organization reported total revenue of $223K and total assets of $89K according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Newark Boys Chorus School's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Newark Boys Chorus School is a small nonprofit that has been operating for 56 years, with 14 years of IRS 990 filings on record (2011–2024). Revenue has grown at a compound annual rate of -10.6%.
Key Financial Metrics (2024)
From the most recent IRS 990 filing on record:
| Total Revenue | $194K |
| Total Expenses | $758K |
| Surplus / Deficit | $-563,932 |
| Total Assets | $89K |
| Total Liabilities | $215K |
| Net Assets | $-125,634 |
| Operating Margin | -291.2% |
| Debt-to-Asset Ratio | 240.9% |
| Months of Reserves | 1.4 months |
Financial Health Grade: D
In 2024, Newark Boys Chorus School reported a deficit of $564K with expenses exceeding revenue, holds 1.4 months of operating reserves (limited), has a debt-to-asset ratio of 240.9% (high leverage).
Financial Trends
Over 14 years of filings (2011–2024), Newark Boys Chorus School's revenue has declined at a compound annual growth rate (CAGR) of -10.6%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2024 | -69.0% | -34.2% | -84.1% |
| 2023 | -29.5% | -3.1% | -52.4% |
| 2022 | -59.7% | +21.7% | -29.6% |
| 2021 | +64.3% | -11.7% | +287.7% |
| 2020 | +89.8% | -0.7% | -49.8% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 2000 |
| IRS Ruling Date | 1970 |
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 Newark Boys Chorus School with a Mission Score of 75 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, Newark Boys Chorus School allocates its expenses as follows: admin: 15%, programs: 70%, fundraising: 15%. Approximately 70% goes to programs, indicating moderate mission focus.
Key Financial Metrics (2024)
From the most recent IRS 990 filing on record:
- The organization reported a deficit of $564K, with expenses exceeding revenue.
- Debt-to-asset ratio: 240.9%.
Executive Compensation Analysis
Executive compensation cannot be assessed as specific figures are not provided in the available data.
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 Newark Boys Chorus School's IRS 990 filings:
- Significant decline in revenue from $2,196,384 in 2021 to $223,287 in 2024, raising concerns about sustainability.
- Net assets have decreased substantially from $1,670,876 in 2021 to $89,188 in 2024, indicating a weakening financial position.
- Expenses have consistently exceeded revenue in recent years, leading to a depletion of assets.
Strengths
The following positive indicators were identified for Newark Boys Chorus School:
- Long-standing presence in Newark, NJ, suggesting a commitment to its community.
- Despite financial challenges, the organization continues to operate and provide services.
Frequently Asked Questions about Newark Boys Chorus School
Is Newark Boys Chorus School a legitimate charity?
Based on AI analysis of IRS 990 filings, Newark Boys Chorus School (EIN: 221893378) some concerns. Mission Score: 75/100. 3 red flags identified, 2 strengths noted.
How does Newark Boys Chorus School spend its money?
Newark Boys Chorus School directs 70% of its spending to programs and services. The remaining budget covers administration and fundraising costs.
Are donations to Newark Boys Chorus School tax-deductible?
Newark Boys Chorus School is registered as a tax-exempt nonprofit (EIN: 221893378). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
What percentage of Newark Boys Chorus School's spending goes to programs?
Newark Boys Chorus School directs 70% to programs, 15% to fundraising. This meets the 65% industry benchmark for efficient nonprofits.
How does Newark Boys Chorus School compare to similar nonprofits?
With a transparency score of 75/100 (Good), Newark Boys Chorus School is above average for NTEE category B24Z nonprofits. The score reflects financial transparency, program spending efficiency, and governance quality based on IRS 990 data.
Where is Newark Boys Chorus School located?
Newark Boys Chorus School is headquartered in Newark, New Jersey and files with the IRS under EIN 221893378. It is classified under NTEE code B24Z.
How many years of IRS 990 filings does Newark Boys Chorus School have?
Newark Boys Chorus School 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 $223K in total revenue.
What does Newark Boys Chorus School do?
Newark Boys Chorus School is a nonprofit organization in the Education sector, located in Newark, New Jersey. It is classified under NTEE code B24Z.
How much revenue does Newark Boys Chorus School have?
Newark Boys Chorus School reported total revenue of $223,287. Based on 14 IRS 990 filings on record.
What are Newark Boys Chorus School's total assets?
Newark Boys Chorus School holds total assets of $89,188 as reported in IRS 990 filings.
Where is Newark Boys Chorus School located?
Newark Boys Chorus School is based in Newark, New Jersey.
What is Newark Boys Chorus School's EIN?
Newark Boys Chorus School's Employer Identification Number (EIN) is 221893378. This is the unique tax ID assigned by the IRS for tax-exempt organizations.
What type of nonprofit is Newark Boys Chorus School?
Newark Boys Chorus School is classified under NTEE code B24Z (Education).
Is Newark Boys Chorus School a registered 501(c)(3)?
Yes, Newark Boys Chorus School is recognized as a tax-exempt organization by the IRS. EIN: 221893378.
Does Newark Boys Chorus School file IRS Form 990?
Yes, Newark Boys Chorus School has 14 IRS Form 990 filings on record. The most recent covers tax period 202406.
What was Newark Boys Chorus School's revenue in 2024?
In the 202406 filing period, Newark Boys Chorus School reported total revenue of $193,679, total expenses of $757,611, and net assets of $89,188.
Is Newark Boys Chorus School's revenue growing or declining?
Newark Boys Chorus School's revenue is declining. Revenue went from $624,381 (202306) to $193,679 (202406), a -69.0% change. Based on 14 filings on record.
What is Newark Boys Chorus School's most recent 990 filing?
The most recent IRS Form 990 filing for Newark Boys Chorus School covers tax period 202406. It shows revenue of $193,679, expenses of $757,611, total assets of $89,188, and liabilities of $214,822.
How much does Newark Boys Chorus School spend on programs vs administration?
Based on IRS 990 analysis, Newark Boys Chorus 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 Newark Boys Chorus School a trustworthy charity?
Based on AI analysis of IRS 990 data, Newark Boys Chorus School appears trustworthy. Mission Score: 75/100 (Good). 3 red flags identified. 2 strengths noted.
What are the red flags for Newark Boys Chorus School?
The following concerns were identified: Significant decline in revenue from $2,196,384 in 2021 to $223,287 in 2024, raising concerns about sustainability.. Net assets have decreased substantially from $1,670,876 in 2021 to $89,188 in 2024, indicating a weakening financial position.. Expenses have consistently exceeded revenue in recent years, leading to a depletion of assets.. These flags are based on automated analysis of IRS 990 public filings and should be verified independently.
What are Newark Boys Chorus School's strengths?
Positive indicators for Newark Boys Chorus School include: Long-standing presence in Newark, NJ, suggesting a commitment to its community.. Despite financial challenges, the organization continues to operate and provide services.. These findings are derived from AI analysis of the organization's financial filings.
How does Newark Boys Chorus School compensate executives?
Executive compensation cannot be assessed as specific figures are not provided in the available data. Executive compensation data is sourced from IRS 990 filings, which require disclosure of officer, director, and key employee pay.
What specific factors contributed to the drastic decline in revenue and net assets between 2021 and 2024?
The provided data shows a sharp drop in revenue from $2,196,384 in 2021 to $223,287 in 2024, and net assets from $1,670,876 to $89,188 over the same period. Without further detailed financial statements, the exact causes (e.g., loss of major grants, changes in fundraising strategy, economic downturns) remain unclear.
How is the organization managing to cover its expenses with such significantly reduced revenue, and what is the long-term plan for financial stability?
With expenses consistently exceeding revenue (e.g., $757,611 in expenses vs. $193,679 in revenue in 2024), the organization appears to be drawing down its remaining assets. A long-term plan for financial stability would likely involve a significant increase in fundraising, reduction in operational costs, or a combination of both to reverse the trend of asset depletion.
Filing History
IRS 990 filing history for Newark Boys Chorus School showing financial trends over 14 years of public records:
Over 14 years of IRS 990 filings (2011–2024), Newark Boys Chorus School's revenue has declined by 76.6%, moving from $829K to $194K. Total assets decreased by 94.2% over the same period, from $1.5M to $89K. Total functional expenses fell by 34.5%, from $1.2M to $758K. In its most recent filing year (2024), Newark Boys Chorus School reported a deficit of $564K, with expenses exceeding revenue. The organization holds $215K in liabilities against $89K in assets (debt-to-asset ratio: 240.9%), resulting in net assets of $-125,634.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2024 | $194K | $758K | $89K | $215K | — | — |
| 2023 | $624K | $1.2M | $559K | $232K | — | — |
| 2022 | $886K | $1.2M | $1.2M | $320K | — | View 990 |
| 2021 | $2.2M | $977K | $1.7M | $389K | — | View 990 |
| 2020 | $1.3M | $1.1M | $431K | $368K | — | View 990 |
| 2019 | $704K | $1.1M | $859K | $1.0M | — | View 990 |
| 2018 | $699K | $889K | $497K | $258K | — | View 990 |
| 2017 | $828K | $859K | $568K | $138K | — | View 990 |
| 2016 | $788K | $915K | $496K | $36K | — | View 990 |
| 2015 | $678K | $1000K | $628K | $41K | — | View 990 |
| 2014 | $1.3M | $1.1M | $933K | $25K | — | View 990 |
| 2013 | $892K | $1.2M | $782K | $13K | — | View 990 |
| 2012 | $817K | $1.2M | $1.1M | $19K | — | View 990 |
| 2011 | $829K | $1.2M | $1.5M | $80K | — | View 990 |
Year-by-Year Financial Summary
- 2024: Revenue of $194K, expenses of $758K, and assets of $89K (revenue -69.0% year-over-year).
- 2023: Revenue of $624K, expenses of $1.2M, and assets of $559K (revenue -29.5% year-over-year).
- 2022: Revenue of $886K, expenses of $1.2M, and assets of $1.2M (revenue -59.7% year-over-year).
- 2021: Revenue of $2.2M, expenses of $977K, and assets of $1.7M (revenue +64.3% year-over-year).
- 2020: Revenue of $1.3M, expenses of $1.1M, and assets of $431K (revenue +89.8% year-over-year).
- 2019: Revenue of $704K, expenses of $1.1M, and assets of $859K (revenue +0.8% year-over-year).
- 2018: Revenue of $699K, expenses of $889K, and assets of $497K (revenue -15.7% year-over-year).
- 2017: Revenue of $828K, expenses of $859K, and assets of $568K (revenue +5.1% year-over-year).
- 2016: Revenue of $788K, expenses of $915K, and assets of $496K (revenue +16.2% year-over-year).
- 2015: Revenue of $678K, expenses of $1000K, and assets of $628K (revenue -47.2% year-over-year).
- 2014: Revenue of $1.3M, expenses of $1.1M, and assets of $933K (revenue +44.0% year-over-year).
- 2013: Revenue of $892K, expenses of $1.2M, and assets of $782K (revenue +9.1% year-over-year).
- 2012: Revenue of $817K, expenses of $1.2M, and assets of $1.1M (revenue -1.4% year-over-year).
- 2011: Revenue of $829K, expenses of $1.2M, and assets of $1.5M.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Newark Boys Chorus School:
Data Sources and Methodology
This transparency report for Newark Boys Chorus 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.