The New School
The New School reported $630.6 million in revenue and $655.2 million in expenses for the fiscal year ending June 30, 2025. Of every $100 it spent, $85.44 went to program services, $13.81 to management and general costs and $0.75 to fundraising. Its largest source of revenue was program service revenue such as fees, sales and contracts: 84.5% of the total. The highest compensation it reported for one person was $903,614 (Interim EVP for Business and Operations (through January 2025)). 500 people received more than $100,000 in reportable compensation. Revenue rose 13% between FY2020 and FY2025. Source: Form 990, FY2025.
Where $100 of spending went
The fiscal year ending June 30, 2025 · Form 990, Part IX, line 25 · total expenses $655MFor context, the median across 5,499 covered education charities: $85.56 programs, $13.59 management, $0.85 fundraising (medians computed separately, so they may not sum to $100).
Where $100 of revenue came from
The fiscal year ending June 30, 2025 · Form 990, Part VIII · total revenue $631MThe 990 scorecard · same measures for every charity, no grades
| Measure | FY2025 | Median |
|---|---|---|
| Program services Part IX 25(B) ÷ 25(A) | 85.4% | 84.4% |
| Management & general Part IX 25(C) ÷ 25(A) | 13.8% | 13.4% |
| Fundraising Part IX 25(D) ÷ 25(A) | 0.7% | 0.8% |
| Fundraising cost per $1 of contributions Part IX 25(D) ÷ Part VIII 1h | $0.12 | $0.04 |
| Contributions & grants share of revenue Part VIII 1h ÷ 12 | 6.4% | 19.1% |
| Government grants share of revenue Part VIII 1e ÷ 12 | 1.3% | 1.1% |
| Program service revenue share Part VIII 2g ÷ 12 | 84.5% | 69.9% |
| Highest reported compensation Part VII-A, columns D–F | $903,614 | $331,578 |
| Highest compensation as share of expenses Part VII-A ÷ Part IX 25(A) | 0.14% | 1.28% |
| People paid over $100,000 Part VII, line 2 | 500 | 8 |
| Net assets, in months of expenses Part X 33(B) ÷ monthly expenses | 11.4 | 13.3 |
| Independent voting board members Part VI 1a–1b | 28 of 31 | 100.0% |
A median is context, not a target: hospitals, universities, food banks and grantmakers spend in very different ways. What these measures can and can't tell you.
What the money paid for, in its own words
FY2025 · Form 990, Part III · the three largest programs by expenseACADEMIC PROGRAM: The University's academic program is composed of instructional, research, and public service activies. The University awards baccalaureate, masters, and doctoral degrees. In academic year 2024-2025, it enrolled 9,880 degree students and 3,229 non-degree students. The University's research and public service activities enable faculty to explore new areas of education, learning and knowledge, and provides non-instructional services to individuals and groups external to The University
SCHOLARSHIP AND FINANCIAL AID: The New School seeks to make its education as affordable as possible by offering financial support to students based on financial need, academic achievement, and other qualifications through scholarship and work study programs, which are funded by institutional funds and federal, state and private grants. In academic year 2024-2025, 8,693 students received institutional support
Educational support: the university's educational support program is composed of academic support and student services. Academic support provides support services, such as libraries, academic technology, and faculty and curriculum development, for its academic program. Student services provides various services to students, which contribute to the students' emotional and physical well-being and to their intellectual, cultural, and social development outside the context of the university's formal instructional programs
Highest reported compensation
FY2025 · Form 990, Part VII, Section A · roles as filed; names are in the filing, not here| Role | From this org | From related orgs | Other | Total |
|---|---|---|---|---|
| Interim EVP for Business and Operations (through January 2025) Officer, 40.0 hrs/week | $786,220 | $0 | $117,394 | $903,614 |
| Interim President (through July 2024) Director/trustee, officer, 60.0 hrs/week | $476,496 | $0 | $289,889 | $766,385 |
| President (beginning August 2024) Director/trustee, officer, 60.0 hrs/week | $658,344 | $0 | $102,386 | $760,730 |
| Provost & Executive Vice President for Academic Affairs Officer, 40.0 hrs/week | $655,857 | $0 | $79,679 | $735,536 |
| SVP for Marketing and Business Development Officer, 40.0 hrs/week | $452,822 | $0 | $82,679 | $535,501 |
| General Counsel Officer, 40.0 hrs/week | $393,134 | $0 | $83,564 | $476,698 |
| Executive Dean Key employee, 40.0 hrs/week | $381,575 | $0 | $79,022 | $460,597 |
| Faculty Highest compensated employee, 40.0 hrs/week | $382,066 | $0 | $48,772 | $430,838 |
500 people received more than $100,000 in reportable compensation from The New School (Part VII, line 2). Compensation of current officers, directors and key employees totaled $7.5M (Part IX, line 5).
6 years of filings
Form 990, Parts I, VII, IX and X · each row is that year's own filing, linkedGovernance answers, as filed
FY2025 · the organization's own yes/no answers; explanations, if any, are in Schedule O of the filing · what each means- Voting board members, and how many are independent Part VI, lines 1a–1b31 · 28 independent
- Audited financial statements Part XII 2bYes
- Conflict-of-interest policy Part VI 12aYes
- Whistleblower policy Part VI 13Yes
- Document retention policy Part VI 14Yes
- Independent process for top executive pay Part VI 15aYes
- Board given the 990 before filing Part VI 11aYes
- Family or business ties among insiders Part VI 2Yes
- Aware of a significant diversion of assets Part VI 5No
- Excess benefit transaction with an insider Part IV 25aNo
- Loans to or from insiders outstanding Part IV 26No
- Lobbying, or a 501(h) election in effect Part IV 4Yes
- Over $15,000 of professional fundraising services Part IV 18No
- Over $10,000 of activity outside the U.S. Part IV 14bYes
- Employees Part I, line 56,964
- Volunteers Part I, line 6187
Largest outside contractors
FY2025 · Form 990, Part VII, Section B · businesses only| Cross Management Corporation Construction Services | $21,810,924 |
| Compass Group USA Inc Food Service | $6,256,829 |
| East End Advisors LLC Consulting | $2,358,487 |
| EAB Global Inc Marketing and Enrollment services | $2,010,593 |
| Perfect Parties by Robin Inc Events Consultation | $1,730,153 |
Individuals listed as contractors are left out. 172 contractors were paid more than $100,000 in all.
Private foundation grants it received
46 private foundations reported grants to The New School totaling $8.9M on their tax year 2023 Form 990-PF returns. See which foundations, on WHOFUNDS.
Source: WHOFUNDS open grant graph, matched from Form 990-PF Part XV.
Correct a figure or respond
Every number above is copied from The New School's own Form 990. If one doesn't match the filing, that's our error and we'll fix it. If you work for The New School, you can publish a response that is linked from this page.
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Of every $100 The New School spent in FY2025, $85.44 went to programs. The full breakdown, from its IRS Form 990:
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Similar-sized charities in this cause
- University of Illinois FoundationChampaign, IL · revenue $614M · programs 80.0% · FY2025
- Seton Hall UniversitySouth Orange, NJ · revenue $657M · programs 88.3% · FY2025
- The Big 12 ConferenceIrving, TX · revenue $611M · programs 96.4% · FY2025
- Quinnipiac UniversityHamden, CT · revenue $659M · programs 87.2% · FY2025
- Harmony Public SchoolsHouston, TX · revenue $610M · programs 93.4% · FY2025
Questions people ask
How much of The New School's spending goes to programs?
In the fiscal year ending June 30, 2025, The New School reported that 85.4% of its $655.2 million in expenses went to program services, 13.8% to management and general and 0.7% to fundraising (Form 990, Part IX).
How much does The New School pay its top executive?
The largest total compensation The New School reported for one person in the fiscal year ending June 30, 2025 was $903,614, for the role of Interim EVP for Business and Operations (through January 2025) (Form 990, Part VII, including compensation from related organizations and other compensation).
Where does The New School get its money?
Of $630.6 million in revenue in the fiscal year ending June 30, 2025, 6.4% came from contributions and grants (including 1.3% from government grants) and 84.5% from program service revenue (Form 990, Part VIII).
Is The New School a registered charity?
The IRS lists EIN 13-3297197 as a 501(c)(3) organization (school), and its records show contributions as tax-deductible. Form 990 filings on record here cover tax years 2019, 2020, 2021, 2022, 2023, 2024. A filing shows what the organization reported; it doesn't by itself show whether a program works.
Sources
- FY2025: Form 990 for the fiscal year ending June 30, 2025, object 202611359349307671 · read the filing · XML
- FY2024: Form 990 for the fiscal year ending June 30, 2024, object 202541359349304204 · read the filing
- FY2023: Form 990 for the fiscal year ending June 30, 2023, object 202421369349309032 · read the filing
- FY2022: Form 990 for the fiscal year ending June 30, 2022, object 202301359349306540 · read the filing
- FY2021: Form 990 for the fiscal year ending June 30, 2021, object 202221329349305012 · read the filing
- FY2020: Form 990 for the fiscal year ending June 30, 2020, object 202101349349301830 · read the filing
All filings for EIN 13-3297197: ProPublica Nonprofit Explorer · IRS Tax Exempt Organization Search. Figures are as the organization reported them; we have not audited them.