New Hope Academy
Fiscal Year
Fiscal Year Start
07/01/2023
Fiscal Year End
06/30/2024
Projected Revenue
$2,814,170.00
Projected Expenses
$3,093,911.00
Organizational Budgets and Other Documents
IRS Letter of Exemption
| new hope academy irs ltr |
Detailed Financials
Revenue and Expenses
| Fiscal Year | 2023 | 2022 | 2021 |
|---|---|---|---|
| Total Revenue | $5,778,572.00 | $4,690,606.00 | |
| Total Expenses | $4,418,492.00 | $4,716,013.00 | |
| Revenue Less Expenses | ($-0.00) | $1,360,080.00 | ($25,407.00) |
Revenue Sources
| Fiscal Year | 2023 | 2022 | 2021 |
|---|---|---|---|
| Foundation and Corporation Contributions | $0.00 | $439,180.00 | |
| Government - Federal | $0.00 | $0.00 | |
| Government - State | $0.00 | $0.00 | |
| Government - Local | $0.00 | $0.00 | |
| Government - Unspecified | $900,007.00 | $280,721.00 | |
| Contributions, Gifts, and Grants | $1,637,088.00 | $911,410.00 | |
| Indirect Public Support | $0.00 | $5,000.00 | |
| Earned Revenue | $2,865,745.00 | $2,640,728.00 | |
| Investment Income, Net of Losses | $6,651.00 | $88,840.00 | |
| Membership Dues | $0.00 | $0.00 | |
| Special Events | $343,306.00 | $0.00 | |
| Revenue In-Kind | $25,777.00 | $0.00 | |
| Other | $0.00 | $0.00 |
Expense Allocation
| Fiscal Year | 2023 | 2022 | 2021 |
|---|---|---|---|
| Program Expense | $3,511,605.00 | $3,478,712.00 | |
| Administration Expense | $509,632.00 | $789,661.00 | |
| Fundraising Expense | $397,255.00 | $447,640.00 | |
| Total Revenue/Total Expenses | 131% | 99% | |
| Program Expense/Total Expenses | 79% | 74% | |
| Fundraising Expense/Contributed Revenue | 9% | 9% |
Top Funding Sources
| Fiscal Year | 2023 | 2022 | 2021 |
|---|---|---|---|
| Top Funding Source & Dollar Amount | $0.00 | Program Revenue $2,865,745.00 | Program Revenue $2,640,728.00 |
| Second Highest Funding Source & Dollar Amount | $0.00 | Contributions, Gifts, and Grants $1,637,088.00 | Contributions, Gifts, Grants $911,410.00 |
| Third Highest Funding Source & Dollar Amount | $0.00 | Government Grants $900,007.00 | Government Unspecified $280,721.00 |
Assets and Liabilities
| Fiscal Year | 2023 | 2022 | 2021 |
|---|---|---|---|
| Total Assets | $4,387,183.00 | $3,826,661.00 | |
| Current Assets | $2,101,926.00 | $1,439,866.00 | |
| Long-Term Liabilities | $0.00 | $900,007.00 | |
| Current Liabilities | $105,419.00 | $183,550.00 | |
| Total Net Assets | $4,281,764.00 | $2,743,104.00 |
Endowment Info
Do you have an endowment?
Yes
What is the value of the endowment?
$280,000.00
What is the spending policy for your endowment?
Income Only
Capital Campaign Info
Are you currently in a Capital Campaign?
No
Do you anticipate a campaign in the next 5 years?
Yes
Solicitation Permit Info
State Charitable Solicitations Permit
Exempt
Form 990s
Audit Documents
Foundation Staff Comments
| Financial figures are taken from the 990. Financial documents prepared by Blankenship CPA Group, PLLC. Comments provided by Hayley Sulfridge 8/8/23. |
