Trustees of Newark Academy
91 S Orange Ave, Livingston, NJ · IRS data through FY2025
Revenue, expenses and net assets
Revenue Expenses Net assets
| Tax year | Revenue | Expenses | Net assets |
|---|---|---|---|
| FY2025 | $45,705,961 | $41,827,783 | $118,173,873 |
| FY2024 | $44,405,009 | $39,648,108 | $109,683,749 |
| FY2023 | $40,038,806 | $36,594,725 | $99,827,562 |
| FY2022 | $41,225,502 | $30,603,331 | $92,997,566 |
| FY2021 | $35,913,632 | $31,830,675 | $94,665,435 |
| FY2020 | $33,048,464 | $29,555,148 | $83,849,238 |
| FY2019 | $32,355,899 | $28,141,651 | $81,397,752 |
| FY2018 | $32,802,512 | $27,325,198 | $77,814,064 |
| FY2017 | $32,065,096 | $26,046,590 | $71,298,551 |
| FY2016 | $28,676,467 | $23,978,947 | $64,078,564 |
| FY2015 | $27,123,078 | $23,239,421 | $59,738,551 |
| FY2014 | $26,005,838 | $22,138,163 | $55,029,374 |
| FY2013 | $24,093,337 | $20,632,596 | $47,774,730 |
| FY2012 | $26,546,823 | $19,496,772 | $41,011,552 |
Form 990 filings
The returns filed by Trustees of Newark Academy (EIN 22-1487270), including Form 990 PDFs and e-file data by year, are available in ProPublica's Nonprofit Explorer. The figures on this page come from IRS data files built from those returns.
Where the revenue came from
| Source | Amount | % of revenue |
|---|---|---|
| Contributions & grants | $4,184,919 | 9% |
| Program service revenue | $38,225,266 | 84% |
| Other revenue | $3,295,776 | 7% |
Where the money was spent
| Category | Amount | % of expenses |
|---|---|---|
| Program services | $31,870,666 | 76% |
| Management & general | $8,888,067 | 21% |
| Fundraising | $1,069,050 | 3% |
What the numbers show
- Program service revenue made up 84% of total revenue in FY2025.
- Program services accounted for 76% of functional expenses, management & general 21%, and fundraising 3%.
- 76% of functional expenses went to program services in FY2025. That is higher than 23.1% of 104 Education organizations in NJ.
- Net assets covered about 33.9 months of expenses at the end of the reporting year. That puts it in the 73rd percentile among 2028 Education organizations in NJ.
- Total revenue was higher than 98.5% of 2068 Education organizations in NJ.
- Total revenue rose from $26,546,823 in FY2012 to $45,705,961 in FY2025. Revenue increased in 10 and decreased in 3 of 13 year-over-year comparisons.
- Revenue covered expenses in each of the 14 reported years, FY2012 to FY2025.
- Net assets grew from $41,011,552 to $118,173,873 between FY2012 and FY2025.
- Contributions and grants made up 24% of revenue in FY2012 and 9% in FY2025.
- Listed in the IRS Publication 78 data as eligible to receive tax-deductible contributions (public charity).
Figures compared against other organizations of the same NTEE program area in the same state. See the methodology page for how these are calculated and the guide to reading nonprofit financials for their limits.
About this organization
NEWARK ACADEMY WILL CONTRIBUTE TO SOCIETY THOUGHTFUL & COMPASSIONATE CITIZENS WHO EMBRACE THEIR RESPONSIBILITIES AS ETHICAL, INTELLECTUAL & CIVIC STEWARDS IN THE GLOBAL ENVIRONMENT.
IRS status
| Ruling year | 1938 |
| Subsection | 501(c)(3) |
| Classification | Public charity |
| Program area (NTEE) | B24I — Education (in NJ) |
| Donations | Listed in the IRS Publication 78 data as eligible to receive tax-deductible contributions (public charity). |
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Source: Internal Revenue Service — Exempt Organizations Business Master File (downloaded November 4, 2026), Statistics of Income extracts, Form 990 e-file data, Publication 78 and the Automatic Revocation list. Figures are as reported by the organization; IRS processing may adjust them. This is not a charity rating and not tax advice. Confirm deductibility in IRS Tax Exempt Organization Search.
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