THE NEWMAN SCHOOL

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Financial Vulnerability Assessment (Tuckman-Chang)

4 risk indicators measuring financial stability and operational resilience

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Financial Trends

Organization Details

Formation Year

1945

Legal Domicile

Principal Officer

MICHAEL SCHAFER

Phone

6172674530

Tax Period

2023-07-01 to 2024-06-30

THE NEWMAN SCHOOL, founded in 1945, is a mid-sized nonprofit in the Education sector that reported $10.1M in total revenue in fiscal year 2023.

Mission

FOUNDED IN 1945, THE NEWMAN SCHOOL, AN INDEPENDENT DAY SCHOOL IN THE CATHOLIC TRADITION, PREPARES YOUNG WOMEN AND MEN FROM GREATER BOSTON AND AROUND THE WORLD FOR SUCCESS IN UNIVERSITY AND COLLEGE STUDIES AND LIFE.WITH A SCHOOL CULTURE THAT IS UNIQUELY WELCOMING AND SUPPORTIVE, NEWMAN PROVIDES STUDENTS FROM BROADLY DIVERSE BACKGROUNDS AN OPPORTUNITY TO PURSUE SERIOUS STUDIES IN THE COMPANY OF LIKE-MINDED PEERS AND INSTRUCTORS. STUDIES ARE ORGANIZED AROUND THE PRINCIPLES OF THE INTERNATIONAL BACCALAUREATE DIPLOMA PROGRAMME, AND STUDENTS HAVE THE OPTION OF PURSUING THE ENTIRE IB DIPLOMA OR THOSE PORTIONS OF IT WHICH MEET THEIR NEEDS AND ASPIRATIONS.GUIDED BY CARDINAL NEWMAN'S MOTTO, COR AD COR LOQUITUR - HEART SPEAKS TO HEART, THE SCHOOL BELIEVES THAT STUDENTS ARE ABLE TO ACHIEVE THEIR POTENTIAL WHEN PURSUING THEIR STUDIES IN AN ENVIRONMENT OF MUTUAL RESPECT, INTEGRITY, SERIOUSNESS OF PURPOSE, AND CIVIC RESPONSIBILITY.

Program Service Accomplishments

Program 1

Expenses: $8,181,220 Revenue: $9,432,584

OPERATION OF A SECONDARY SCHOOL SERVING 251 STUDENTS.

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Trantor Score

Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

Financial Overview (2023)

Revenue Breakdown

Contributions & Grants $314,014

Program Service Revenue $9,394,668

Investment Income $348,790

Other Revenue $0

TOTAL REVENUE $10,057,472

Expense Breakdown

Grants Paid $1,601,094

Salaries & Benefits $6,021,529

Fundraising Expenses $185,213

Program Expenses $8,181,220

Other Expenses $3,175,127

TOTAL EXPENSES $10,797,750

Year-over-Year Comparison

	2023	2022	Change
Revenue	$10,057,472	$9,640,568	+0.0%
Expenses	$10,797,750	$9,353,741	+0.2%
Net Income	$-740,278	$286,827	-3.6%

Key Indicators

✗ Grants to Organizations ✓ Grants to Individuals ✗ Lobbying ✗ Political Activity ✗ Foreign Activities ✗ Donor Advised Fund ✓ Schedule B Required

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Financial Health Indicators

Comprehensive financial analysis: Altman Z-Score, liquidity, solvency, sustainability, efficiency, and growth metrics

Financial Distress Indicator

Liquidity & Cash Position

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Altman Z-Score • Liquidity Ratios • Solvency Analysis • Growth Indicators • Efficiency Metrics

Governance

Voting Members

Independent Members

Employees

Volunteers

Governance Policies

✓ Conflict of Interest Policy

✗ Whistleblower Policy

✓ Document Retention Policy

Special Practices & Reported Activities

✓ Operated a School

✗ Operated a Hospital

✗ Provided First Class Travel

✗ Reported Conflict of Interest

✗ Reported Asset Diversion

✗ Excess Benefit Transaction

✗ Made Political Expenditures

✗ Engaged in Lobbying

✗ Operated Donor Advised Fund

✗ Maintained Art Collections

✗ Filed Form 720

Compensation of Officers, Directors & Key Employees

Total Officers

Total Directors

$422,000

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
JAMES G KEEFE	CHAIRMAN	10.00	Officer Director	$0	$0	$0
THOMAS S DRUMM	TREASURER	2.00	Officer Director	$0	$0	$0
JANE SPAULDING	CLERK	2.00	Officer Director	$0	$0	$0
JEAN SILVERI	VICE CHAIRMAN	2.00	Officer Director	$0	$0	$0
J HARRY LYNCH	TRUSTEE	2.00	Director	$0	$0	$0
MARIE CECCHETTO	TRUSTEE	2.00	Director	$0	$0	$0
REGINALD A NUNALLY	TRUSTEE	2.00	Director	$0	$0	$0
ELLEN WOODS	TRUSTEE	2.00	Director	$0	$0	$0
JOHN GALLAGHER	TRUSTEE	2.00	Director	$0	$0	$0
SCOTT BABKA	TRUSTEE	2.00	Director	$0	$0	$0
PAUL CIAMPA	TRUSTEE	5.00	Director	$0	$0	$0
DAVID MACLAUGHLIN	TRUSTEE	5.00	Director	$0	$0	$0
RICHARD MCCARTHY	TRUSTEE	2.00	Director	$0	$0	$0
SOFIE NIZIAK	TRUSTEE	2.00	Director	$0	$0	$0
WALTER SULLIVAN	TRUSTEE	2.00	Director	$0	$0	$0
MICHAEL SCHAFER	HEAD OF SCHOOL	40.00	Director	$295,000	$127,000	$422,000
SCOTT BABKA	TRUSTEE	2.00	Director	$0	$0	$0
WALTER SULLIVAN	TRUSTEE	2.00	Director	$0	$0	$0
MELISSA BACON	DIRECTOR OF ADMISSIONS	40.00	Highest	$140,500	$13,312	$153,812
JULIA PORRAZI	ASSISTANT HEAD OF SCHOOL	40.00	Highest	$140,000	$13,312	$153,312
REBECCA WITTE	SCHOOL COUNSELOR	40.00	Highest	$100,550	$5,027	$105,577
MARTA O'MALLEY	BUSINESS OFFICER	40.00	Highest	$100,500	$23,000	$123,500

Note: Compensation data is self-reported by the organization on their Form 990. "Reportable Comp" includes salary, bonuses, and other reportable compensation from the organization and related organizations. "Other Comp" includes benefits, deferred compensation, and non-taxable benefits.

Historical Data

Year	Revenue	Expenses	Assets	Net Income
2025	No data	No data	No data	No data
2024	$10,057,472	$10,797,750	$15,462,078	$-740,278
2023	$9,640,568	$9,353,741	$11,970,868	$286,827
2022	$8,351,226	$7,878,271	$11,310,210	$472,955
2021	$6,664,235	$7,113,546	$11,815,609	$-449,311
2020	$6,469,650	$7,024,772	$10,059,444	$-555,122
2019	$7,507,552	$7,701,818	$10,402,660	$-194,266