Civic Intelligence

The New Classical Academy Inc

EIN 20-3546735 • 501(c)3 • Asheville, NC

Profile

Private school serving grades k-8

671 Sand Hill RoadAsheville, NC 28806

www.thenewclassicalacademy.org

Siviq Scores

Precomputed percentiles relative to similar nonprofits. These scores are descriptive rather than judgmental.

Liabilities / Assets

88th percentile

0.84x

Higher debt load relative to assets than 88% of similar nonprofits.

NTEE B • $1M-$5M nonprofits • Source year 2024

Liabilities / Revenue

92nd percentile

1.14x

Higher debt load relative to revenue than 92% of similar nonprofits.

NTEE B • $1M-$5M nonprofits • Source year 2024

Net Margin

31st percentile

-1.8%

Higher net margin than 31% of similar nonprofits.

NTEE B • $1M-$5M nonprofits • Source year 2024

Top Officer Pay

61st percentile

$90,442

Higher top officer pay than 61% of similar nonprofits.

Top officer pay equals 12.0% of source-year revenue.

NTEE B • $1M-$5M nonprofits • Source year 2024

Asset Growth

32nd percentile

-1.6%

Faster asset growth than 32% of similar nonprofits.

NTEE B • $1M-$5M nonprofits • Annualized from 2023 to 2024

Revenue Growth

48th percentile

6.8%

Faster revenue growth than 48% of similar nonprofits.

NTEE B • $1M-$5M nonprofits • Annualized from 2023 to 2024

Assets

Down

$1,021,556

Down $16,876 (-1.6%) from 2023

Liabilities

Down

$855,072

Down $3,088 (-0.4%) from 2023

Net Assets

Down

$166,484

Down $13,788 (-7.6%) from 2023

Revenue

Up

$752,950

Up $47,635 (+6.8%) from 2023

Expenses

Up

$766,737

Up $82,359 (+12%) from 2023

Net Income

Down

-$13,787

Down $34,724 (-166%) from 2023

Trend Graphs

Balance Sheet Trend

Grouped bars show assets, liabilities, and net assets across loaded filings.

$1.5M$1.0M$500K$0Assets 2010: $88,887Liabilities 2010: $22,302Net Assets 2010: $66,5852010Assets 2011: $108,426Liabilities 2011: $19,286Net Assets 2011: $89,1402011Assets 2012: $78,998Liabilities 2012: $45,272Net Assets 2012: $33,7262012Assets 2013: $87,160Liabilities 2013: $53,232Net Assets 2013: $33,9282013Assets 2014: $52,566Liabilities 2014: $45,314Net Assets 2014: $7,2522014Assets 2015: $78,748Liabilities 2015: $53,563Net Assets 2015: $25,1852015Assets 2016: $100,494Liabilities 2016: $58,242Net Assets 2016: $42,2522016Assets 2017: $117,524Liabilities 2017: $74,557Net Assets 2017: $42,9672017Assets 2018: $142,492Liabilities 2018: $101,272Net Assets 2018: $41,2202018Assets 2019: $644,491Liabilities 2019: $581,094Net Assets 2019: $63,3972019Assets 2020: $1,076,468Liabilities 2020: $992,933Net Assets 2020: $83,5352020Assets 2021: $1,053,793Liabilities 2021: $913,061Net Assets 2021: $140,7322021Assets 2022: $1,053,869Liabilities 2022: $894,534Net Assets 2022: $159,3352022Assets 2023: $1,038,432Liabilities 2023: $858,160Net Assets 2023: $180,2722023Assets 2024: $1,021,556Liabilities 2024: $855,072Net Assets 2024: $166,4842024

Highlighted filing

2024

Assets$1,021,556
Liabilities$855,072
Net Assets$166,484

Operations Trend

Revenue, expenses, and net income by year, with the latest filing highlighted.

$1.0M$500K$0-$500KRevenue 2010: $321,292Expenses 2010: $314,557Net Income 2010: $6,7352010Revenue 2011: $296,770Expenses 2011: $274,217Net Income 2011: $22,5532011Revenue 2012: $228,843Expenses 2012: $284,255Net Income 2012: -$55,4122012Revenue 2013: $262,603Expenses 2013: $262,401Net Income 2013: $2022013Revenue 2014: $264,965Expenses 2014: $291,641Net Income 2014: -$26,6762014Revenue 2015: $348,028Expenses 2015: $330,096Net Income 2015: $17,9322015Revenue 2016: $363,182Expenses 2016: $346,115Net Income 2016: $17,0672016Revenue 2017: $347,919Expenses 2017: $347,205Net Income 2017: $7142017Revenue 2018: $380,269Expenses 2018: $382,016Net Income 2018: -$1,7472018Revenue 2019: $448,979Expenses 2019: $426,802Net Income 2019: $22,1772019Revenue 2020: $504,275Expenses 2020: $484,136Net Income 2020: $20,1392020Revenue 2021: $599,358Expenses 2021: $542,161Net Income 2021: $57,1972021Revenue 2022: $650,794Expenses 2022: $632,191Net Income 2022: $18,6032022Revenue 2023: $705,315Expenses 2023: $684,378Net Income 2023: $20,9372023Revenue 2024: $752,950Expenses 2024: $766,737Net Income 2024: -$13,7872024

Highlighted filing

2024

Revenue$752,950
Expenses$766,737
Net Income-$13,787

Filings

Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$1.02$0.86$0.17$0.75$0.77$0.01
2023Detailed filing. Detailed filing data is available for this year.$1.04$0.86$0.18$0.71$0.68$0.02
2022Detailed filing. Detailed filing data is available for this year.$1.05$0.89$0.16$0.65$0.63$0.02
2021Detailed filing. Detailed filing data is available for this year.$1.05$0.91$0.14$0.60$0.54$0.06
2020Detailed filing. Detailed filing data is available for this year.$1.08$0.99$0.08$0.50$0.48$0.02
2019Detailed filing. Detailed filing data is available for this year.$0.64$0.58$0.06$0.45$0.43$0.02
2018Detailed filing. Detailed filing data is available for this year.$0.14$0.10$0.04$0.38$0.38$0.00
2017Detailed filing. Detailed filing data is available for this year.$0.12$0.07$0.04$0.35$0.35$0.00
2016Detailed filing. Detailed filing data is available for this year.$0.10$0.06$0.04$0.36$0.35$0.02
2015Summary only. Only limited summary data is available for this year.$0.08$0.05$0.03$0.35$0.33$0.02
2014Summary only. Only limited summary data is available for this year.$0.05$0.05$0.01$0.26$0.29$0.03
2013Summary only. Only limited summary data is available for this year.$0.09$0.05$0.03$0.26$0.26$0.00
2012Summary only. Only limited summary data is available for this year.$0.08$0.05$0.03$0.23$0.28$0.06
2011Summary only. Only limited summary data is available for this year.$0.11$0.02$0.09$0.30$0.27$0.02
2010Summary only. Only limited summary data is available for this year.$0.09$0.02$0.07$0.32$0.31$0.01
Latest Filing Detail
Jump To
Filing Snapshot
Filing Period
Jul 1, 2023 to Jun 30, 2024
Signed
Sep 24, 2025
Return Version
2023v6.0
Gross Receipts
$752,950
Mission and Program Overview

Mission

Private school serving grades k-8

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$873,389$836,031▼ $37,358
Rtn Earn Endowment Incm Other Fnds$180,272$166,484▼ $13,788
Cash and Non-Interest-Bearing Accounts$147,411$162,980▲ $15,569
Accounts Receivable$10,991$15,675▲ $4,684
Savings and Temporary Cash Investments$5,875$5,880▲ $5
Inventories for Sale or Use$766$990▲ $224
Total Assets$1,038,432$1,021,556▼ $16,876
Liabilities
Mortgage Notes Payable Secured by Investment Property$429,542$411,730▼ $17,812
Other Liabilities$319,118$313,085▼ $6,033
Deferred Revenue$109,500$130,257▲ $20,757
Total Liabilities$858,160$855,072▼ $3,088
Net Assets / Fund Balance
Total Net Assets Fund Balance$180,272$166,484▼ $13,788
Total Liabilities and Net Assets / Fund Balance$1,038,432$1,021,556▼ $16,876

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$671,822$97,812$769,634
Land$120,852-$120,852
Other Land Buildings$43,357$33,897$77,254
Equipment-$7,919$7,919
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseTotal
Andrew M CrossDirectorFT$90,442$90,442
Revenue and Support

Revenue Composition

Contributions and Grants
$12,121
Program Service Revenue
$740,824
Investment Income
$5
Other Revenue
$0
All Other Contributions
$12,121
Change in Net Assets
$-13,787
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$561,683
Other Expenses$205,054
Total Fundraising Expense$1,528
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$520,070--$520,070
Interest$42,212--$42,212
Payroll Taxes$41,613--$41,613
Depreciation Depletion$37,357--$37,357
All Other Expenses$22,875-$1,528$24,403
Occupancy$22,246--$22,246
Fees for Services Accounting$15,764--$15,764
Other Expenses$10,748--$10,748
Conferences and Meetings$2,893--$2,893
Total Functional Expenses$765,209$0$1,528$766,737
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
N/p Classical Properties$313,085
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
No
Backup withholding compliance
No
Business relationship with 35% controlled entity
No
Business relationship with family members
No
Business relationship with organization members
No
Material changes to governing documents
No
Compensation from other sources disclosed
No
CEO compensation reviewed
No
Other officer compensation reviewed
No
Conflict-of-interest policy
Yes
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Page 6, Part VI, Line 11B

No review was or will be conducted.

Form 990, Page 6, Part VI, Line 19

No documents available to the public

Filing and Contact Details

Filer

Filer Name
The New Classical Academy Inc
EIN
20-3546735
Phone
8282251993
Address
671 SAND HILL ROAD, ASHEVILLE, NC 28806

Signing Officer

Name
Andrew M Cross
Title
Director
Phone
8282251993
Signed
2025-09-24
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Andrew M Cross
Voting Board Members
1
Independent Board Members
0
Employees
13

Preparer

Firm
Platinum Group
Address
PO BOX 8389, ASHEVILLE, NC 28814
Preparer
Dinah Cantwell
Phone
8282520029
Supplemental Narrative

Additional Explanations

Form 990, Page 2, Part III, Line 4A

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.

Form 990, Page 2, Part III, Line 4D

SEE STATEMENT

Form 990, Part XI, Line 9

Book / tax depreciation difference -1

Raw XML Appendix314 raw XML fields

This appendix keeps the raw XML leaves available for debugging and edge-case review. The human report above is the primary experience.

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IRS990ScheduleD/TotalLiabilityAmt0313085
IRS990ScheduleE/ComplianceWithRevProc7550Ind0true
IRS990ScheduleE/DiscriminateRaceAdmissPlcyInd0false
IRS990ScheduleE/DiscriminateRaceAthltProgInd0false
IRS990ScheduleE/DiscriminateRaceEducPlcyInd0false
IRS990ScheduleE/DiscriminateRaceEmplmFcultyInd0false
IRS990ScheduleE/DiscriminateRaceOtherActyInd0false
IRS990ScheduleE/DiscriminateRaceSchsInd0false
IRS990ScheduleE/DiscriminateRaceStdntsRghtsInd0false
IRS990ScheduleE/DiscriminateRaceUseOfFcltsInd0false
IRS990ScheduleE/GovernmentFinancialAidRcvdInd0false
IRS990ScheduleE/GovernmentFinancialAidRvkdInd0false
IRS990ScheduleE/MaintainCpyOfAllSolInd0true
IRS990ScheduleE/MaintainCpyOfBrochuresEtcInd0true
IRS990ScheduleE/MaintainRacialCompRecsInd0true
IRS990ScheduleE/MaintainScholarshipsRecsInd0true
IRS990ScheduleE/NondiscriminatoryPolicyStmtInd0true
IRS990ScheduleE/PlcyPblczdViaBroadcastMediaInd0true
IRS990ScheduleE/PolicyStmtInBrochuresEtcInd0true
IRS990ScheduleE/SupplementalInformationDetail/ExplanationTxt0NEWSPAPER, INTERNET, BROCHURES AND APPLICATIONS
IRS990ScheduleE/SupplementalInformationDetail/FormAndLineReferenceDesc0SCHEDULE E, LINE 3
IRS990/ScheduleJRequiredInd0false
IRS990/ScheduleORequiredInd0false
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0THE 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.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1SEE STATEMENT
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2NO REVIEW WAS OR WILL BE CONDUCTED.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3NO DOCUMENTS AVAILABLE TO THE PUBLIC
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4BOOK / TAX DEPRECIATION DIFFERENCE -1
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PAGE 2, PART III, LINE 4A
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PAGE 2, PART III, LINE 4D
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PAGE 6, PART VI, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PAGE 6, PART VI, LINE 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PART XI, LINE 9
IRS990/SchoolOperatingInd0true
IRS990/SignificantChangeInd0false
IRS990/SignificantNewProgramSrvcInd0false
IRS990/SpecialConditionDesc0HURRICANE HELENE 202501
IRS990/SubjectToExcsTaxNetInvstIncInd0false
IRS990/SubjectToProxyTaxInd0false
IRS990/SubjToTaxRmnrtnExPrchtPymtInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TerminateOperationsInd0false
IRS990/TotalAssetsBOYAmt01038432
IRS990/TotalAssetsEOYAmt01021556
IRS990/TotalAssetsGrp/BOYAmt01038432
IRS990/TotalAssetsGrp/EOYAmt01021556
IRS990/TotalCompGreaterThan150KInd0false
IRS990/TotalContributionsAmt012121
IRS990/TotalEmployeeCnt013
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt01528
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt00
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0765209
IRS990/TotalFunctionalExpensesGrp/TotalAmt0766737
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt0858160
IRS990/TotalLiabilitiesEOYAmt0855072
IRS990/TotalLiabilitiesGrp/BOYAmt0858160
IRS990/TotalLiabilitiesGrp/EOYAmt0855072
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt0180272
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt0166484
IRS990/TotalOtherProgSrvcExpenseAmt0765209
IRS990/TotalProgramServiceExpensesAmt0765209
IRS990/TotalProgramServiceRevenueAmt0740824
IRS990/TotalReportableCompFromOrgAmt090442
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt0740829
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0752950
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt01038432
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt01021556
IRS990/TrnsfrExmptNonChrtblRltdOrgInd0false
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/VotingMembersGoverningBodyCnt01
IRS990/VotingMembersIndependentCnt00
IRS990/WebsiteAddressTxt0WWW.THENEWCLASSICALACADEMY.ORG
IRS990/WhistleblowerPolicyInd0false
ReturnHeader/BuildTS02025-03-06 01:10:19Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0ANDREW M CROSS
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0DIRECTOR
ReturnHeader/BusinessOfficerGrp/PhoneNum08282251993
ReturnHeader/BusinessOfficerGrp/SignatureDt02025-09-24
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0THE NEW CLASSICAL ACADEMY INC
ReturnHeader/Filer/BusinessNameControlTxt0NEWC
ReturnHeader/Filer/EIN0203546735
ReturnHeader/Filer/PhoneNum08282251993
ReturnHeader/Filer/USAddress/AddressLine1Txt0671 SAND HILL ROAD
ReturnHeader/Filer/USAddress/CityNm0ASHEVILLE
ReturnHeader/Filer/USAddress/StateAbbreviationCd0NC
ReturnHeader/Filer/USAddress/ZIPCd028806
ReturnHeader/IRSResponsiblePrtyInfoCurrInd0true
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0461808249
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0PLATINUM GROUP
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt0PO BOX 8389
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0ASHEVILLE
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0NC
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd028814
ReturnHeader/PreparerPersonGrp/PhoneNum08282520029
ReturnHeader/PreparerPersonGrp/PreparationDt02025-09-24
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0DINAH CANTWELL
ReturnHeader/ReturnTs02025-09-24T20:26:58-04:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02023-07-01
ReturnHeader/TaxPeriodEndDt02024-06-30
ReturnHeader/TaxYr02023

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