NEW BEGINNINGS ACADEMY INC

EIN: 920731144 501(c)(3) Youth Development

HERKIMER, NY

Total Revenue
$360,254
Total Expenses
$321,408
Total Assets
$38,971
Net Assets
$38,971
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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
2022
Legal Domicile
NY
Principal Officer
JANEL HEARN
Phone
5187529677
Tax Period
2023-01-01 to 2023-12-31

NEW BEGINNINGS ACADEMY INC, founded in 2022, is a small nonprofit in the Youth Development sector that reported $360K in total revenue in fiscal year 2023. Revenue surged 623% from the prior year, signaling strong growth momentum. Expenses of $321K left a modest 11% surplus.

Mission

PROVIDING DAYCARE FACILITIES FOR FAMILIES IN NEED.

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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 $46,800
Program Service Revenue $313,454
Investment Income $0
Other Revenue $0
TOTAL REVENUE $360,254

Expense Breakdown

Grants Paid $0
Salaries & Benefits $241,605
Fundraising Expenses $0
Program Expenses $253,675
Other Expenses $79,803
TOTAL EXPENSES $321,408

Year-over-Year Comparison

2023 2022 Change
Revenue $360,254 $49,820 +6.2%
Expenses $321,408 $49,695 +5.5%
Net Income $38,846 $125 +309.8%
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

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Governance

Voting Members
3
Independent Members
N/A
Employees
12
Volunteers
N/A

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
3
$0
Total Directors
0
$0
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
JANEL HEARN PRESIDENT 10.00
Officer
$0 $0 $0
THOMAS MARINO VICE PRESIDENT 10.00
Officer
$0 $0 $0
MATTHEW HEARN SECRETARY/TREASURER 10.00
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 $360,254 $321,408 $38,971 $38,846
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