The New Classical Academy Inc
Nonprofit profile at a glance
- EIN
- 203546735
- IRS 990 coverage
- 2015–2024
- Forms available
- Form 990 2024
- Location
- Asheville, NC, USA
- Phone
- 8282251993
- Rating
- 75
- Verdict
- SUPPORTED
- Rating confidence
- Moderate
- Sector
- Vocational, Technical Schools
Reported finances
- Revenue
- $788,462
- Expenses
- $788,809
- Assets
- $992,684
- Liabilities
- $826,546
Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.
Leadership & pay
1 person listed
Highest reported compensation
- ANDREW M CROSS (DIRECTOR): $96,438 total reported compensation
Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.
Overview
Mission
Private school serving grades k-8
What it reported doing in 2024
The school operates on a standard 5 day a week schedule monday through friday from 9 am to 3 pm; students in our traditional program will attend all week. In addition we will offer a distance learning program and a home school enrichment program. Traditional program: for parents who prefer a traditional five day a week schedule, we are here to meet that need. However, fridays will always be optional. For parents who need downtime in in their lives, would like to go on family vacations or perhaps just schedule a doctor's visit, rest assured that that on any friday your family can take the time you need for yourselves distance learning program: your child is enrolled as a private school student and attends school half of the time. We have options for monday, tuesday and friday or wednesday, thursday and friday. Again, keep in mind that fridays are always optional. For the other two days, the student will complete their assigned lessons at home. Once in middle school, this program assumes a high level of academic work and individual responsibility. After one year enrolled in this program in middle school, students must maintain a 3.0 gpa. Home school enrichment program: the third option is for home school students. The student will attend the school on fridays from 9 am to 3 pm. The student will register as a home school student with the state and will attend the school as an enrichment program, participating in all aspects of the school day and being seamlessly integrated into our school community. We will also provide these parents with home school counseling, the opportunity for home school testing and curriculum resources.
Operating model
- Revenue model
- Other-operating. 99% of the money available for current operations came from other operating revenue.
- Distribution model
- Direct operator. The filing allocates 100% of reported program-service expenses outside its grant, affiliate-payment, and member-benefit lines. This expense classification does not rule out separately announced grant awards.
The verdict
SUPPORTED - A large share of available resources goes toward mission work and the filed numbers largely add up. A relatively small share of voting board members are independent and some filing-based governance responses are negative or unanswered.
Rating breakdown
- Financial Efficiency: 97
- Transparency & Controls: 90
- Accountability: 10
- Sustainability: 36
- Growth: 100
Detailed rating inputs
Financial Efficiency
- Mission deployment rate: 100%; rating input score 100
- Program expense ratio: 100%; rating input score 100
- Fundraising efficiency: $34.02 raised per $1 spent on fundraising; rating input score 71; 71st percentile among comparable filings
Transparency & Controls
- Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
- Pay-setting controls: Limited
- Foreign activity oversight: Limited
- Grant itemization coverage: Limited
- Major donor itemization: Limited
- Related-party transparency: Limited
Accountability
- Independent voting board: 0%; rating input score 0; 5th percentile among comparable filings
- Governance controls: 2 of 8 controls in place; rating input score 25
- Conflict-of-interest policy: Pass
- Whistleblower policy: Fail
- Document-retention policy: Fail
- CEO compensation review process: NotApplicable
- Other executive compensation review process: Fail
- Form 990 shared with the board: Fail
- Board meeting minutes documented: Pass
- Audit committee oversight: Missing
- Independent financial-statement audit: Fail
Sustainability
- Operating margin: -0%; rating input score 35; 35th percentile among comparable filings
- Total-asset coverage ratio: 1.26; rating input score 50; 50th percentile among comparable filings
- Liabilities to assets ratio: 0.83; rating input score 8; 8th percentile among comparable filings
- Officer compensation ratio: 12.2%; rating input score 30; 30th percentile among comparable filings
Growth
- Program expense growth: 11% per year; rating input score 100; 66th percentile among comparable filings
- Revenue growth: 9.8% per year; rating input score 100; 66th percentile among comparable filings
- Asset growth: 16.8% per year; rating input score 100; 76th percentile among comparable filings
Details
- Where the money goes: 100% of revenue deployed · 100% of spending went to programs
- Governance: 0 of 1 board members independent · 2 of 8 filing controls reported
- Programs: 2 filed program accomplishments · $789K in reported program spending
- Leadership: top reported pay $96K · 1 people listed
- Consistency: 20 of 20 current checks pass
- Schedules: 4 filed schedules
- Filing history: 10 filing years from 2015 to 2024
- Contacts: How to reach this organization
- Money network: 1 filed money-flow record
- Grant readiness: Federal tax and exclusion status, award history, and grant-maker relationships.
- People: Everyone the filings name, and which of them the filings identify by more than a name.
Key Signals
Signals prioritize questions for review. They are not findings of misconduct.
- High — Accountability: Independent voting board scored 0/100.
- High — Accountability: Governance controls: 5 of 7 not reported.
- Moderate — Sustainability: Operating margin scored 35/100.
- Review — Sustainability: Total-asset coverage ratio scored 50/100.
- High — Sustainability: Liabilities to assets ratio scored 8/100.
- Moderate — Sustainability: Officer compensation ratio scored 30/100.