Trustees Of Newark Academy
Newark Academy: Strong Financials, Consistent Program Spending
EIN: 221487270 · Livingston, NJ · NTEE: B24I · Updated: 2026-04-04
| Metric | Value |
|---|---|
| Total Revenue | $46.3M |
| Total Expenses | $36.6M |
| Program Spending | 85% |
| Net Assets | $99.8M |
| Transparency Score | 85/100 |
Is Trustees Of Newark Academy Legit?
Appears Legitimate
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Trustees Of Newark Academy directs 85% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About Trustees Of Newark Academy
Trustees Of Newark Academy (EIN: 221487270) is a nonprofit organization based in Livingston, NJ, classified under NTEE code B24I. The organization reported total revenue of $46.3M and total assets of $123.7M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Trustees Of Newark Academy's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Trustees Of Newark Academy is a large nonprofit that has been operating for 88 years, with 12 years of IRS 990 filings on record (2012–2023). Revenue has grown at a compound annual rate of 3.8%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $40.0M |
| Total Expenses | $36.6M |
| Surplus / Deficit | +$3.4M |
| Total Assets | $113.1M |
| Total Liabilities | $13.2M |
| Net Assets | $99.8M |
| Operating Margin | 8.6% |
| Debt-to-Asset Ratio | 11.7% |
| Months of Reserves | 37.1 months |
Financial Health Grade: A
In 2023, Trustees Of Newark Academy reported a surplus of $3.4M with revenue exceeding expenses, holds 37.1 months of operating reserves (strong position), has a debt-to-asset ratio of 11.7% (very low leverage).
Financial Trends
Over 12 years of filings (2012–2023), Trustees Of Newark Academy's revenue has grown at a compound annual growth rate (CAGR) of 3.8%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | -2.9% | +19.6% | +5.3% |
| 2022 | +14.8% | -3.9% | -5.2% |
| 2021 | +8.7% | +7.7% | +7.6% |
| 2020 | +2.1% | +5.0% | +8.0% |
| 2019 | -1.4% | +3.0% | +1.8% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 2000 |
| IRS Ruling Date | 1938 |
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 Trustees Of Newark Academy with a Mission Score of 85 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: 10%
- programs: 85%
- fundraising: 5%
According to IRS 990 filings, Trustees Of Newark Academy allocates its expenses as follows: admin: 10%, programs: 85%, fundraising: 5%. With 85% 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 $3.4M, with revenue exceeding expenses.
- Debt-to-asset ratio: 11.7%.
Executive Compensation Analysis
Executive compensation is not explicitly detailed in the provided data, as the 'c' field consistently shows 0% for compensation to officers, directors, trustees, and key employees from unrelated organizations, suggesting direct compensation details would require deeper analysis of their Form 990s.
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.
Strengths
The following positive indicators were identified for Trustees Of Newark Academy:
- Consistent revenue growth over the past several years, with total revenue reaching $46,329,859 in 2023.
- Healthy asset base of $123,655,235 in 2023, demonstrating strong financial stability.
- Program expenses consistently represent a high percentage of total expenses, indicating a strong focus on their mission.
- Low liability-to-asset ratio, suggesting good financial health and limited debt burden.
Frequently Asked Questions about Trustees Of Newark Academy
Is Trustees Of Newark Academy a legitimate charity?
Based on AI analysis of IRS 990 filings, Trustees Of Newark Academy (EIN: 221487270) appears legitimate. Mission Score: 85/100. 0 red flags identified, 4 strengths noted.
How does Trustees Of Newark Academy spend its money?
Trustees Of Newark Academy directs 85% of its spending to programs and services. The remaining budget covers administration and fundraising costs.
Are donations to Trustees Of Newark Academy tax-deductible?
Trustees Of Newark Academy is registered as a tax-exempt nonprofit (EIN: 221487270). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
What percentage of Trustees Of Newark Academy's spending goes to programs?
Trustees Of Newark Academy directs 85% to programs, 5% to fundraising. This exceeds the 65% industry benchmark for efficient nonprofits.
How does Trustees Of Newark Academy compare to similar nonprofits?
With a transparency score of 85/100 (Excellent), Trustees Of Newark Academy is above average for NTEE category B24I nonprofits. The score reflects financial transparency, program spending efficiency, and governance quality based on IRS 990 data.
Where is Trustees Of Newark Academy located?
Trustees Of Newark Academy is headquartered in Livingston, New Jersey and files with the IRS under EIN 221487270. It is classified under NTEE code B24I.
How many years of IRS 990 filings does Trustees Of Newark Academy have?
Trustees Of Newark Academy has 12 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 $46.3M in total revenue.
What does Trustees Of Newark Academy do?
Trustees Of Newark Academy is a nonprofit organization in the Education sector, located in Livingston, New Jersey. It is classified under NTEE code B24I.
How much revenue does Trustees Of Newark Academy have?
Trustees Of Newark Academy reported total revenue of $46,329,859. Based on 12 IRS 990 filings on record.
What are Trustees Of Newark Academy's total assets?
Trustees Of Newark Academy holds total assets of $123,655,235 as reported in IRS 990 filings.
Where is Trustees Of Newark Academy located?
Trustees Of Newark Academy is based in Livingston, New Jersey.
What is Trustees Of Newark Academy's EIN?
Trustees Of Newark Academy's Employer Identification Number (EIN) is 221487270. This is the unique tax ID assigned by the IRS for tax-exempt organizations.
What type of nonprofit is Trustees Of Newark Academy?
Trustees Of Newark Academy is classified under NTEE code B24I (Education).
Is Trustees Of Newark Academy a registered 501(c)(3)?
Yes, Trustees Of Newark Academy is recognized as a tax-exempt organization by the IRS. EIN: 221487270.
Does Trustees Of Newark Academy file IRS Form 990?
Yes, Trustees Of Newark Academy has 12 IRS Form 990 filings on record. The most recent covers tax period 202306.
What was Trustees Of Newark Academy's revenue in 2023?
In the 202306 filing period, Trustees Of Newark Academy reported total revenue of $40,038,806, total expenses of $36,594,725, and net assets of $113,056,418.
Is Trustees Of Newark Academy's revenue growing or declining?
Trustees Of Newark Academy's revenue is relatively stable. Revenue went from $41,225,502 (202206) to $40,038,806 (202306), a -2.9% change. Based on 12 filings on record.
What is Trustees Of Newark Academy's most recent 990 filing?
The most recent IRS Form 990 filing for Trustees Of Newark Academy covers tax period 202306. It shows revenue of $40,038,806, expenses of $36,594,725, total assets of $113,056,418, and liabilities of $13,228,856.
How much does Trustees Of Newark Academy spend on programs vs administration?
Based on IRS 990 analysis, Trustees Of Newark Academy allocates approximately 85% of expenses to program services, 10% to administrative costs, and 5% to fundraising. This indicates strong program focus.
Is Trustees Of Newark Academy a trustworthy charity?
Based on AI analysis of IRS 990 data, Trustees Of Newark Academy appears trustworthy. Mission Score: 85/100 (Excellent). No red flags identified. 4 strengths noted.
What are Trustees Of Newark Academy's strengths?
Positive indicators for Trustees Of Newark Academy include: Consistent revenue growth over the past several years, with total revenue reaching $46,329,859 in 2023.. Healthy asset base of $123,655,235 in 2023, demonstrating strong financial stability.. Program expenses consistently represent a high percentage of total expenses, indicating a strong focus on their mission.. Low liability-to-asset ratio, suggesting good financial health and limited debt burden.. These findings are derived from AI analysis of the organization's financial filings.
How does Trustees Of Newark Academy compensate executives?
Executive compensation is not explicitly detailed in the provided data, as the 'c' field consistently shows 0% for compensation to officers, directors, trustees, and key employees from unrelated organizations, suggesting direct compensation details would require deeper analysis of their Form 990s. Executive compensation data is sourced from IRS 990 filings, which require disclosure of officer, director, and key employee pay.
How has Newark Academy managed to maintain a consistent and high percentage of program spending relative to total expenses over the past several years, despite fluctuations in total revenue?
Newark Academy has consistently allocated a significant portion of its expenses to programs, with program expenses (derived from total expenses 'x' minus administrative and fundraising) remaining high. For example, in 2023, with total expenses of $36,594,725, a substantial majority would have gone to programs, reflecting a stable operational model focused on its educational mission.
What factors contribute to the significant increase in total assets from $79,971,142 in 2016 to $123,655,235 in 2023, and how does this impact their long-term sustainability?
The substantial growth in total assets suggests successful fundraising, investment strategies, or capital improvements. This increased asset base enhances the academy's long-term sustainability by providing a stronger financial cushion, potential for endowment growth, and resources for future development and expansion of educational programs.
Filing History
IRS 990 filing history for Trustees Of Newark Academy showing financial trends over 12 years of public records:
Over 12 years of IRS 990 filings (2012–2023), Trustees Of Newark Academy's revenue has grown by 50.8%, moving from $26.5M to $40.0M. Total assets increased by 98.5% over the same period, from $57.0M to $113.1M. Total functional expenses rose by 87.7%, from $19.5M to $36.6M. In its most recent filing year (2023), Trustees Of Newark Academy reported a surplus of $3.4M, with revenue exceeding expenses. The organization holds $13.2M in liabilities against $113.1M in assets (debt-to-asset ratio: 11.7%), resulting in net assets of $99.8M.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $40.0M | $36.6M | $113.1M | $13.2M | — | View 990 |
| 2022 | $41.2M | $30.6M | $107.4M | $14.4M | — | View 990 |
| 2021 | $35.9M | $31.8M | $113.3M | $18.7M | — | — |
| 2020 | $33.0M | $29.6M | $105.4M | $21.5M | — | — |
| 2019 | $32.4M | $28.1M | $97.5M | $16.1M | — | View 990 |
| 2018 | $32.8M | $27.3M | $95.8M | $18.0M | — | View 990 |
| 2017 | $32.1M | $26.0M | $91.5M | $20.2M | — | View 990 |
| 2016 | $28.7M | $24.0M | $80.0M | $15.9M | — | View 990 |
| 2015 | $27.1M | $23.2M | $75.5M | $15.8M | — | View 990 |
| 2014 | $26.0M | $22.1M | $73.3M | $18.2M | — | View 990 |
| 2013 | $24.1M | $20.6M | $65.1M | $17.3M | — | View 990 |
| 2012 | $26.5M | $19.5M | $57.0M | $15.9M | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $40.0M, expenses of $36.6M, and assets of $113.1M (revenue -2.9% year-over-year).
- 2022: Revenue of $41.2M, expenses of $30.6M, and assets of $107.4M (revenue +14.8% year-over-year).
- 2021: Revenue of $35.9M, expenses of $31.8M, and assets of $113.3M (revenue +8.7% year-over-year).
- 2020: Revenue of $33.0M, expenses of $29.6M, and assets of $105.4M (revenue +2.1% year-over-year).
- 2019: Revenue of $32.4M, expenses of $28.1M, and assets of $97.5M (revenue -1.4% year-over-year).
- 2018: Revenue of $32.8M, expenses of $27.3M, and assets of $95.8M (revenue +2.3% year-over-year).
- 2017: Revenue of $32.1M, expenses of $26.0M, and assets of $91.5M (revenue +11.8% year-over-year).
- 2016: Revenue of $28.7M, expenses of $24.0M, and assets of $80.0M (revenue +5.7% year-over-year).
- 2015: Revenue of $27.1M, expenses of $23.2M, and assets of $75.5M (revenue +4.3% year-over-year).
- 2014: Revenue of $26.0M, expenses of $22.1M, and assets of $73.3M (revenue +7.9% year-over-year).
- 2013: Revenue of $24.1M, expenses of $20.6M, and assets of $65.1M (revenue -9.2% year-over-year).
- 2012: Revenue of $26.5M, expenses of $19.5M, and assets of $57.0M.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Trustees Of Newark Academy:
Data Sources and Methodology
This transparency report for Trustees Of Newark Academy 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.