Newark Academy
Newark Academy reported $45.7 million in revenue and $41.8 million in expenses for the fiscal year ending June 30, 2025. Of every $100 it spent, $76.19 went to program services, $21.25 to management and general costs and $2.56 to fundraising. Its largest source of revenue was program service revenue such as fees, sales and contracts: 83.6% of the total. The highest compensation it reported for one person was $785,390 (BOARD MEMBER/HEAD OF SCHOOL). 72 people received more than $100,000 in reportable compensation. Revenue rose 38% 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 $42MFor 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 $46MThe 990 scorecard · same measures for every charity, no grades
| Measure | FY2025 | Median |
|---|---|---|
| Program services Part IX 25(B) ÷ 25(A) | 76.2% | 84.4% |
| Management & general Part IX 25(C) ÷ 25(A) | 21.2% | 13.4% |
| Fundraising Part IX 25(D) ÷ 25(A) | 2.6% | 0.8% |
| Fundraising cost per $1 of contributions Part IX 25(D) ÷ Part VIII 1h | $0.26 | $0.04 |
| Contributions & grants share of revenue Part VIII 1h ÷ 12 | 9.2% | 19.1% |
| Government grants share of revenue Part VIII 1e ÷ 12 | 0.0% | 1.1% |
| Program service revenue share Part VIII 2g ÷ 12 | 83.6% | 69.9% |
| Highest reported compensation Part VII-A, columns D–F | $785,390 | $331,578 |
| Highest compensation as share of expenses Part VII-A ÷ Part IX 25(A) | 1.88% | 1.28% |
| People paid over $100,000 Part VII, line 2 | 72 | 8 |
| Net assets, in months of expenses Part X 33(B) ÷ monthly expenses | 33.9 | 13.3 |
| Independent voting board members Part VI 1a–1b | 23 of 24 | 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 expenseNewark Academy (the "academy") is an independent school located in livingston, nj that offers an academically rigorous college preparatory program to a student body composed of diverse, multi-cultural, international group of young people. Tuition represents the academy's primary source of revenue
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 |
|---|---|---|---|---|
| BOARD MEMBER/HEAD OF SCHOOL Director/trustee, officer, 60.00 hrs/week | $681,122 | $0 | $104,268 | $785,390 |
| DIRECTOR OF BUSINESS & FIN Key employee, 50.00 hrs/week | $336,657 | $0 | $67,406 | $404,063 |
| MIDDLE SCHOOL PRINCIPAL Key employee, 50.00 hrs/week | $256,485 | $0 | $30,164 | $286,649 |
| CHIEF ADVANCEMENT OFFICER Key employee, 40.00 hrs/week | $222,960 | $0 | $26,642 | $249,602 |
| CHIEF STRATEGY OFFICER Key employee, 40.00 hrs/week | $182,989 | $0 | $55,429 | $238,418 |
| ASST. HEAD OF SCHOOL FOR TEACHING Key employee, 40.00 hrs/week | $176,943 | $0 | $48,031 | $224,974 |
| US PRINCIPAL Highest compensated employee, 40.00 hrs/week | $168,883 | $0 | $46,995 | $215,878 |
| TEACHER Highest compensated employee, 40.00 hrs/week | $161,514 | $0 | $49,005 | $210,519 |
72 people received more than $100,000 in reportable compensation from Newark Academy (Part VII, line 2). Compensation of current officers, directors and key employees totaled $2.0M (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–1b24 · 23 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 11aNo
- Family or business ties among insiders Part VI 2No
- 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 4No
- Over $15,000 of professional fundraising services Part IV 18No
- Over $10,000 of activity outside the U.S. Part IV 14bNo
- Employees Part I, line 5341
- Volunteers Part I, line 685
Largest outside contractors
FY2025 · Form 990, Part VII, Section B · businesses only| NATOLI CONSTRUCTION Construction | $1,423,852 |
| BELAIR TRANSPORTATION Transportation | $406,930 |
| HARVARD CLEANING Cleaning | $332,964 |
| SUNBELT RENTAL Rental | $242,426 |
Individuals listed as contractors are left out. 25 contractors were paid more than $100,000 in all.
Private foundation grants it received
27 private foundations reported grants to Newark Academy totaling $883K 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 Newark Academy's own Form 990. If one doesn't match the filing, that's our error and we'll fix it. If you work for Newark Academy, you can publish a response that is linked from this page.
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Of every $100 Newark Academy spent in FY2025, $76.19 went to programs. The full breakdown, from its IRS Form 990:
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Similar-sized charities in this cause
- Charlotte Christian SchoolCharlotte, NC · revenue $46M · programs 79.6% · FY2025
- University of Northwestern OhioLima, OH · revenue $46M · programs 79.4% · FY2025
- GlenwoodBirmingham, AL · revenue $46M · programs 84.3% · FY2025
- Associated Students of San Diego State UniversitySan Diego, CA · revenue $46M · programs 84.4% · FY2025
- Rockford UniversityRockford, IL · revenue $46M · programs 94.1% · FY2025
Questions people ask
How much of Newark Academy's spending goes to programs?
In the fiscal year ending June 30, 2025, Newark Academy reported that 76.2% of its $41.8 million in expenses went to program services, 21.2% to management and general and 2.6% to fundraising (Form 990, Part IX).
How much does Newark Academy pay its top executive?
The largest total compensation Newark Academy reported for one person in the fiscal year ending June 30, 2025 was $785,390, for the role of BOARD MEMBER/HEAD OF SCHOOL (Form 990, Part VII, including compensation from related organizations and other compensation).
Where does Newark Academy get its money?
Of $45.7 million in revenue in the fiscal year ending June 30, 2025, 9.2% came from contributions and grants and 83.6% from program service revenue (Form 990, Part VIII).
Is Newark Academy a registered charity?
The IRS lists EIN 22-1487270 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 202611359349315441 · read the filing · XML
- FY2024: Form 990 for the fiscal year ending June 30, 2024, object 202541349349303404 · read the filing
- FY2023: Form 990 for the fiscal year ending June 30, 2023, object 202401309349304320 · read the filing
- FY2022: Form 990 for the fiscal year ending June 30, 2022, object 202331359349306328 · read the filing
- FY2021: Form 990 for the fiscal year ending June 30, 2021, object 202241339349306454 · read the filing
- FY2020: Form 990 for the fiscal year ending June 30, 2020, object 202131349349307923 · read the filing
All filings for EIN 22-1487270: ProPublica Nonprofit Explorer · IRS Tax Exempt Organization Search. Figures are as the organization reported them; we have not audited them.