NEW SCHOOLS FOR VIRGINIA

EIN: 884064070 501(c)(3) Education

RICHMOND, VA

Total Revenue
$1,895,493
Total Expenses
$274,541
Total Assets
$1,627,699
Net Assets
$1,620,952
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Financial Trends

Organization Details

Formation Year
2022
Legal Domicile
VA
Principal Officer
SARAH CRAIG
Phone
8042880135
Tax Period
2023-01-01 to 2023-12-31

NEW SCHOOLS FOR VIRGINIA, founded in 2022, is a community nonprofit in the Education sector that reported $1.9M in total revenue in fiscal year 2023. The organization ran a surplus of $1.6M, a strong 86% operating margin.

Mission

NEW SCHOOLS FOR VIRGINIA WORKS WITH PARENTS, STUDENTS, EDUCATORS AND THE COMMUNITY TO IMPROVE EDUCATIONAL OUTCOMES BY DESIGNING NEW SCHOOLS AND BY SUPPORTING EXISTING SCHOOLS TO IMPROVE OUTCOMES.

Program Service Accomplishments

Program 1
Expenses: $183,896

THE HARBOR SCHOOL. DURING 2023, NEW SCHOOLS FOR VIRGINIA CONDUCTED EDUCATIONAL RESEARCH AND MET WITH PARENTS AND COMMUNITY MEMBERS TO CREATE THE HARBOR SCHOOL PUBLIC CHARTER SCHOOL APPLICATION. THE...

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THE HARBOR SCHOOL. DURING 2023, NEW SCHOOLS FOR VIRGINIA CONDUCTED EDUCATIONAL RESEARCH AND MET WITH PARENTS AND COMMUNITY MEMBERS TO CREATE THE HARBOR SCHOOL PUBLIC CHARTER SCHOOL APPLICATION. THE HARBOR SCHOOL IS A PUBLIC CHARTER MIDDLE SCHOOL DESIGNED BY AND WITH RICHMOND FAMILIES FOR STUDENTS WHO HAVE NOT YET EXCELLED IN TRADITIONAL MODELS OF SCHOOL. IT IS A COMPETENCY-BASED, PERSONALIZED MODEL OF SCHOOL WHERE STUDENTS EXPERIENCE AUTHENTIC LEARNING, BOTH AT THEIR PACE AND IN COLLABORATIVE, MULTIDISCIPLINARY PROJECTS.

Program 2
Expenses: $23,048 Revenue: $15,000

CIVIC EDUCATION. DURING 2023, NEW SCHOOLS FOR VIRGINIA UNDERTOOK RESEARCH TO UNDERSTAND VARIOUS PATHWAYS TO CREATE INNOVATIVE PUBLIC SCHOOLS. WE HOSTED MEETINGS WITH DOZENS OF CIVIC LEADERS PARENTS...

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CIVIC EDUCATION. DURING 2023, NEW SCHOOLS FOR VIRGINIA UNDERTOOK RESEARCH TO UNDERSTAND VARIOUS PATHWAYS TO CREATE INNOVATIVE PUBLIC SCHOOLS. WE HOSTED MEETINGS WITH DOZENS OF CIVIC LEADERS PARENTS AND COMMUNITY MEMBERS IN RICHMOND TO SHARE THESE PATHWAYS, AND TO GAIN INSIGHT FROM THEM REGARDING THE CURRENT STATE OF PUBLIC EDUCATION BASED ON THEIR EXPERIENCES. THIS EFFORT RESULTED IN INCREASING SUPPORT FOR NEW MODELS OF SCHOOL AND A MANDATE TO RESEARCH THE LONG-TERM PERFORMANCE OF RICHMOND PUBLIC SCHOOLS IN 2024.

Program 3
Expenses: $12,260

SUPPORT FOR PATRICK HENRY SCHOOL FOR THE SCIENCES AND ART. PHSSA IS A PUBLIC CHARTER ELEMENTARY SCHOOL IN RICHMOND, VA. AS A PART OF THE PUBLIC SCHOOL DISTRICT, BUT ALSO HAVING INDEPENDENT...

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SUPPORT FOR PATRICK HENRY SCHOOL FOR THE SCIENCES AND ART. PHSSA IS A PUBLIC CHARTER ELEMENTARY SCHOOL IN RICHMOND, VA. AS A PART OF THE PUBLIC SCHOOL DISTRICT, BUT ALSO HAVING INDEPENDENT OPERATIONS, PHSSA IS RESPONSIBLE TO TAKE CARE OF THEIR BUILDING AND OPERATIONS. NEW SCHOOLS FOR VIRGINIA PARTNERED WITH THE BOARD OF DIRECTORS AT PATRICK HENRY TO DEVELOP A CASE FOR SUPPORT FOR RENOVATING AND OPENING THEIR3RD FLOOR, AND TO OUTLINE A NEW STRATEGIC PLAN, RESULTING IN AN INITIAL SUBSTANTIAL INVESTMENT TOWARDS THAT RENOVATION.

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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%)

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Financial Overview (2023)

Revenue Breakdown

Contributions & Grants $1,880,483
Program Service Revenue $15,000
Investment Income $10
Other Revenue $0
TOTAL REVENUE $1,895,493

Expense Breakdown

Grants Paid $0
Salaries & Benefits $199,044
Fundraising Expenses $12,384
Program Expenses $219,204
Other Expenses $75,497
TOTAL EXPENSES $274,541

Year-over-Year Comparison

2023 2022 Change
Revenue $1,895,493 N/A N/A
Expenses $274,541 N/A N/A
Net Income $1,620,952 N/A N/A
Key Indicators
Grants to Organizations Grants to Individuals Lobbying Political Activity Foreign Activities Donor Advised Fund Schedule B Required
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Governance

Voting Members
3
Independent Members
2
Employees
3
Volunteers
25

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
2
$0
Total Directors
1
$113,846
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
SARAH CRAIG FOUNDER 40.00
Director
$113,846 $0 $113,846
DAVID ENDOM OFFICER 2.00
Officer
$0 $0 $0
ANDREA ARCHER OFFICER 2.00
Officer
$0 $0 $0
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
2024 No data No data No data No data
2023 $1,895,493 $274,541 $1,627,699 $1,620,952
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