New Summit Academy
| Fiscal year | Revenue | Expenses | Net | Reserve mo. | Staff % |
|---|---|---|---|---|---|
| 2016 | 100 | 0 | 100 | — | — |
| 2017 | 2,283 | 183 | 2,100 | 144.3 | — |
| 2018 | 641,449 | 515,850 | 125,599 | 3.0 | 0% |
| 2019 | 4,743,610 | 5,536,044 | −792,434 | -1.4 | 34% |
| 2020 | 5,554,980 | 7,158,443 | −1,603,463 | -3.8 | 2% |
| 2021 | 6,238,934 | 7,130,584 | −891,650 | -5.7 | 62% |
| 2022 | 6,609,108 | 6,087,308 | 521,800 | -5.7 | 50% |
| 2023 | 7,673,089 | 8,254,674 | −581,585 | -5.0 | 43% |
| 2024 | 8,271,163 | 8,820,755 | −549,592 | -5.5 | 43% |
In its most recent public year (2024), this organization spent $549,592 more than it brought in. Its liabilities exceeded its net assets — reserves were below zero (-5.5 months). Staff pay was 43% of spending. $300,000 of its net assets are donor-restricted.
Reserve months = net assets ÷ average monthly spending; net assets count everything the organization owns beyond its debts — buildings and donor-restricted funds included, not just cash. Staff pay = salaries, wages, and officer compensation; it excludes benefits and payroll taxes. The IRS releases this data years after the fact — this organization's newest public year is 2024. Years refer to the calendar year in which the organization's fiscal year ended. Short-form filers do not publicly report donor-restricted balances or staffing costs. Source filings
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