Civic Intelligence

Isidore Newman School

990 • Fiscal year 2022 • EIN 72-0408935

Jul 01, 2021 to Jun 30, 2022 • Filed on May 08, 2023

1903 Jefferson AveNew Orleans, LA 70115

(504) 899-5641

Siviq Scores

Precomputed percentiles for this filing year versus similar nonprofits in the same peer cohort.

Liabilities / Assets

73rd percentile

0.51x

Higher debt load relative to assets than 73% of similar nonprofits.

2022 filings • 501(c)3 • $50M-$100M nonprofits • Source year 2022

Liabilities / Revenue

78th percentile

1.14x

Higher debt load relative to revenue than 78% of similar nonprofits.

2022 filings • 501(c)3 • $50M-$100M nonprofits • Source year 2022

Net Margin

60th percentile

11%

Higher net margin than 60% of similar nonprofits.

2022 filings • 501(c)3 • $50M-$100M nonprofits • Source year 2022

Top Officer Pay

73rd percentile

$532,455

Higher top officer pay than 73% of similar nonprofits.

Top officer pay equals 1.4% of source-year revenue.

2022 filings • 501(c)3 • $50M-$100M nonprofits • Source year 2022

Asset Growth

85th percentile

22%

Faster asset growth than 85% of similar nonprofits.

2022 filings • 501(c)3 • $50M-$100M nonprofits • Annualized from 2021 to 2022

Revenue Growth

42nd percentile

0.6%

Faster revenue growth than 42% of similar nonprofits.

2022 filings • 501(c)3 • $50M-$100M nonprofits • Annualized from 2021 to 2022

Assets

Up

$85,836,624

Up $15,486,286 (+22%) from 2021

Net Assets

Up

$41,894,621

Up $12,560,080 (+43%) from 2021

Liabilities

Up

$43,942,003

Up $2,926,206 (+7.1%) from 2021

Revenue

Up

$38,467,765

Up $234,377 (+0.6%) from 2021

Expenses

Up

$34,147,154

Up $1,143,150 (+3.5%) from 2021

Net Income

Down

$4,320,611

Down $908,773 (-17%) from 2021

Historical Trend

Balance Sheet Trend

The highlighted filing sits inside the broader history for assets, liabilities, and net assets.

$100M$50M$0-$50MAssets 2010: $28,116,181Liabilities 2010: $29,406,422Net Assets 2010: -$1,290,2412010Assets 2011: $28,301,857Liabilities 2011: $30,049,103Net Assets 2011: -$1,747,2462011Assets 2012: $28,997,279Liabilities 2012: $30,559,120Net Assets 2012: -$1,561,8412012Assets 2013: $29,712,594Liabilities 2013: $31,715,155Net Assets 2013: -$2,002,5612013Assets 2014: $33,630,169Liabilities 2014: $34,491,301Net Assets 2014: -$861,1322014Assets 2015: $45,209,078Liabilities 2015: $38,402,703Net Assets 2015: $6,806,3752015Assets 2016: $51,058,028Liabilities 2016: $39,813,762Net Assets 2016: $11,244,2662016Assets 2017: $54,308,605Liabilities 2017: $38,603,932Net Assets 2017: $15,704,6732017Assets 2018: $63,435,002Liabilities 2018: $45,436,983Net Assets 2018: $17,998,0192018Assets 2019: $66,471,072Liabilities 2019: $47,731,004Net Assets 2019: $18,740,0682019Assets 2020: $70,181,380Liabilities 2020: $46,076,223Net Assets 2020: $24,105,1572020Assets 2021: $70,350,338Liabilities 2021: $41,015,797Net Assets 2021: $29,334,5412021Assets 2022: $85,836,624Liabilities 2022: $43,942,003Net Assets 2022: $41,894,6212022Assets 2023: $88,324,921Liabilities 2023: $44,253,432Net Assets 2023: $44,071,4892023Assets 2024: $94,588,217Liabilities 2024: $43,775,829Net Assets 2024: $50,812,3882024

Highlighted filing

2022

Assets$85,836,624
Liabilities$43,942,003
Net Assets$41,894,621

Operations Trend

Revenue, expenses, and net income across loaded years, with this filing highlighted.

$60M$40M$20M$0-$20MExpenses 2010: $21,516,6912010Expenses 2011: $21,027,8242011Revenue 2012: $22,176,057Expenses 2012: $21,990,652Net Income 2012: $185,4052012Revenue 2013: $21,563,893Expenses 2013: $22,004,613Net Income 2013: -$440,7202013Revenue 2014: $23,292,157Expenses 2014: $22,150,728Net Income 2014: $1,141,4292014Revenue 2015: $30,683,835Expenses 2015: $22,629,520Net Income 2015: $8,054,3152015Revenue 2016: $30,236,906Expenses 2016: $25,953,024Net Income 2016: $4,283,8822016Revenue 2017: $32,005,243Expenses 2017: $27,674,555Net Income 2017: $4,330,6882017Revenue 2018: $31,316,061Expenses 2018: $29,118,468Net Income 2018: $2,197,5932018Revenue 2019: $31,477,628Expenses 2019: $30,742,906Net Income 2019: $734,7222019Revenue 2020: $35,130,931Expenses 2020: $29,765,842Net Income 2020: $5,365,0892020Revenue 2021: $38,233,388Expenses 2021: $33,004,004Net Income 2021: $5,229,3842021Revenue 2022: $38,467,765Expenses 2022: $34,147,154Net Income 2022: $4,320,6112022Revenue 2023: $38,602,779Expenses 2023: $37,607,827Net Income 2023: $994,9522023Revenue 2024: $43,582,425Expenses 2024: $38,517,498Net Income 2024: $5,064,9272024

Highlighted filing

2022

Revenue$38,467,765
Expenses$34,147,154
Net Income$4,320,611
Jump To
Filing Snapshot
Filing Period
Jul 1, 2021 to Jun 30, 2022
Signed
May 8, 2023
Return Version
2021v4.2
Gross Receipts
$38,535,924
Mission and Program Overview

Mission

Newman values each individual. Newman is committed to the intellectual, ethical, emotional, and physical development of each student. Newman instills in each student the school's core values of honesty, kindness, respect, and responsibility, and develops, in each student, self-confidence and an appreciation for cultural and personal differences. Newman offers a challenging, comprehensive, and sequential curriculum from pre-kindergarten through twelfth grade, one which encourages creativity, critical and independent thinking, and different ways of learning. Newman promotes academic excellence and celebrates participation and accomplishment in the fine arts and athletics. Newman engenders in each student the skills, attitudes, and character necessary for productive lifelong learning and service to others.

A pre-k through 12, independent, co-educational, non-denominational day school in new orleans.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$37,411,493$43,539,618▲ $6,128,125
Savings and Temporary Cash Investments$14,444,537$15,160,789▲ $716,252
Accounts Receivable$14,312,108$14,752,556▲ $440,448
Pledges and Grants Receivable$2,988,262$2,723,833▼ $264,429
Prepaid Expenses and Deferred Charges$1,134,012$1,652,932▲ $518,920
Inventories for Sale or Use$59,926$76,831▲ $16,905
Total Assets$70,350,338$85,836,624▲ $15,486,286
Other Assets Total$0$7,930,065▲ $7,930,065
Liabilities
Deferred Revenue$26,558,950$27,706,652▲ $1,147,702
Tax Exempt Bond Liabilities$11,955,599$11,962,799▲ $7,200
Accounts Payable and Accrued Expenses$1,233,396$2,550,716▲ $1,317,320
Other Liabilities$1,267,852$1,721,836▲ $453,984
Total Liabilities$41,015,797$43,942,003▲ $2,926,206
Net Assets / Fund Balance
Net Assets With Donor Restrictions$17,044,137$28,017,146▲ $10,973,009
Net Assets Without Donor Restrictions$12,290,404$13,877,475▲ $1,587,071
Total Net Assets Fund Balance$29,334,541$41,894,621▲ $12,560,080
Total Liabilities and Net Assets / Fund Balance$70,350,338$85,836,624▲ $15,486,286

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$25,172,181$29,827,401$54,999,582
Equipment$5,399,788$6,357,916$11,757,704
Other Land Buildings$9,211,023$1,126,364$10,337,387
Land$3,756,626-$3,756,626
Other Assets Org$7,815,540--
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
Dale M SmithHead of SchoolFT$401,492$130,963$532,455
Jennifer WollfarthAssistant Head of School for Finance & OperationsFT$233,198$29,236$262,434
Jennifer WollfarthAssistant Head of School for Finance-$198,622$63,812$262,434
Deena CareyAssociate Head of SchoolFT$153,653$8,817$162,470
Stephen SoudDirector of College CounselingFT$144,913$9,861$154,774
Jennifer RosenAsst Head of School for Enrollment MgmtFT$147,954$4,394$152,348
Jennifer RosenAsst Head of School for Enrollment M-$147,954$4,394$152,348
J Nelson StewartPhysical Education TeacherFT$126,109$22,463$148,572
Erik CooperHead of Upper SchoolFT$132,161$9,545$141,706
Patrick SummerourDirector of AthleticsFT$121,877$7,280$129,157

Highest Paid Contractors

ContractorServicesLocationCompensation
Woodward Design GroupConstruction1000 S JEFFERSON DAVIS PKWY, New Orleans, LA 70125$2,077,771
Associated Building Services LLCHousekeeping514 FRANKLIN AVENUE, New Orleans, LA 70117$330,477
Fieldturf INCConstruction175 N INDUSTRIAL BLVD NE, Calhoun, GA 30701$313,702
Walsworth Publishing CompanyPublishingPO BOX 310287, Des Moines, IA 50331$170,564
Jw DrennanConstruction8518 OAK STREET, New Orleans, LA 70118$124,953
Revenue and Support

Revenue Composition

Contributions and Grants
$6,409,891
Program Service Revenue
$31,868,897
Investment Income
$22,800
Other Revenue
$166,177
All Other Contributions
$4,539,476
Change in Net Assets
$4,320,611

Noncash Contribution Practices

Property subject to holding requirements
No
Reviewed unusual noncash gifts
No
Third parties used for noncash contributions
No

Noncash Contributions

Contribution TypeContribution CountReported AmountValuation Method
Securities Publicly Traded12$197,645Fair Market Value
Total Noncash Contributions12$197,645-

Audited Revenue Reconciliation

Revenue per Audited Statements
$32,703,726
Revenue Not Reported on Financial Statements
$5,764,039
Revenue Not Reported on Form 990
$-491,399
Other Revenue Adjustments
$5,764,039
Total Revenue per Audited Statements
$32,212,327
Total Revenue per Form 990
$38,467,765
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$19,153,528
Other Expenses$12,004,883
Grants and Similar Amounts Paid$2,988,743
Total Fundraising Expense$1,206,052
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$11,612,803$3,012,245$502,797$15,127,845
Grants to Domestic Individuals$2,988,743--$2,988,743
Depreciation Depletion$2,125,687$118,094$118,094$2,361,875
Occupancy$1,622,154$115,468$153,624$1,891,246
Other Employee Benefits$863,263$300,222$84,791$1,248,276
Payroll Taxes$854,269$254,058$37,125$1,145,452
Insurance$999,464$55,526$55,526$1,110,516
Current Officers, Directors, Trustees, and Key Employees-$934,897-$934,897
Information Technology$647,256$91,280$91,280$829,816
Pension Plan Contributions$513,906$158,156$24,996$697,058
All Other Expenses-$197,153$136,163$333,316
Other Expenses$273,993$253,226$1,656$254,882
Fees for Services Other-$193,993-$193,993
Office Expenses-$57,559-$57,559
Travel-$24,930-$24,930
Total Functional Expenses$27,174,295$5,766,807$1,206,052$34,147,154

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Form 990$34,147,154
Total Expenses per Audited Statements$28,450,769
Expenses per Audited Statements$28,383,115
Expenses Not Reported on Financial Statements$5,764,039
Other Expense Adjustments$5,764,039
Expenses Not Reported on Form 990$67,654
Fundraising, Events, and Gaming
Fundraising activities
Yes
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Gross Income$71,054
Fundraising Direct Expenses$29,498
Professional Fundraising Fees$0

Fundraising Events

EventGross ReceiptsGross RevenueDirect ExpensesNet Income
Spring Party$50,065$33,075$4,066$29,009
Carnival$21,369$21,369$453$20,916
Total Events$88,044$71,054$29,498$41,556
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Payable to Newman Foundation$799,108
Capital Lease Obligations$544,448
Other Restricted Amounts$304,371
Deposits$73,909
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
No
Audit committee
Yes
Backup withholding compliance
Yes
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
Yes
Other officer compensation reviewed
Yes
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, Part VI, Section A, Line 2

Ken beer and john saer have a family relationship. Valerie besthoff and sydney besthoff, iii have a family relationship. Alan h. Philipson and stephen lewis philipson have a family relationship. Jeffrey b. Goldring and william a. Goldring have a family relationship.

Form 990, Part VI, Section B, Line 11B

The chief financial officer first reviews the form 990 and sends it to the executive committee of the board of governors. The executive committee of the board of governors then reviews and approves the 990 and reports to the full board of governors that the 990 has been reviewed and filed. The form 990 is made available to the entire board of governors prior to filing.

Form 990, Part VI, Section B, Line 12C

Each member of the board of governors signs a conflict of interest policy annually. The conflict of interest policy is monitored and the person with a conflict does not participate in voting on that item.

Form 990, Part VI, Section B, Line 15

The head compensation task force meets annually to review the head of school's contract/compensation and when necessary, approves a new contract. Additionally, meetings are held if matters arise regarding the head of school's contract. In addition, the task force used index and nais data for benchmarking and comparisons. The task force comprises the four officers of the board. All other salaries for newman employees are reviewed and approved annually by the head of school; input from the board is solicited when needed.

Form 990, Part VI, Section C, Line 19

All governing documents, conflict of interest policy, and financial statements are available upon request.

Filing and Contact Details

Filer

Filer Name
Isidore Newman School
EIN
72-0408935
Phone
5048995641
Address
1903 JEFFERSON AVE, NEW ORLEANS, LA 70115

Signing Officer

Name
Dale Smith
Title
Head of School
Phone
5048995641
Signed
2023-05-08
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Dale Smith
Formed
1903
Legal Domicile
La
Voting Board Members
36
Independent Board Members
36
Employees
486
Volunteers
350

Preparer

Firm
Postlethwaite & Netterville
Address
ONE GALLERIA BLVD STE 2100, METAIRIE, LA 70001
Preparer
Sharon Cassiere
Phone
5048375990
Supplemental Narrative

Additional Explanations

Form 990, Part XII, Line 2C

There have been no changes from the prior year in the oversight or selection processes for the audit that the organization's committee uses.

Financial Statement Notes

PART X, LINE 2:

The school has received a tax-exempt ruling under section 501(c)(3) of the internal revenue code, and accordingly, is not subject to federal taxes unless it has unrelated trade or business income. Accounting standards provide detailed guidance for financial statement recognition, measurement, and disclosure of uncertain tax positions recognized in an entity's financial statements. It requires an entity to recognize the financial statement impact of a tax position when it is more likely than not that the position will not be sustained upon examination. As of june 30, 2022, management believes the school has no uncertain tax positions that qualify for either recognition or disclosure in the financial statements.

PART XI, LINE 2D - OTHER ADJUSTMENTS:

Fundraising direct expenses 29,498. Rental expenses 38,156.

PART XI, LINE 4B - OTHER ADJUSTMENTS:

Expenses netted with revenues in the audit 2,775,296. Financial aid expenses 2,988,743.

PART XII, LINE 2D - OTHER ADJUSTMENTS:

Rental expenses 38,156. Fundraising expenses 29,498.

PART XII, LINE 4B - OTHER ADJUSTMENTS:

Expenses netted with revenues on audit 2,775,296. Financial aid expenses 2,988,743.

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IRS990/Form990PartVIISectionAGrp/PersonNm2HELEN NALTY BUTCHER
IRS990/Form990PartVIISectionAGrp/PersonNm3CHERRIE BARTHELEMY
IRS990/Form990PartVIISectionAGrp/PersonNm4JEFFREY B GOLDRING
IRS990/Form990PartVIISectionAGrp/PersonNm5BENJAMIN B TILLER
IRS990/Form990PartVIISectionAGrp/PersonNm6ALECIA DONALD
IRS990/Form990PartVIISectionAGrp/PersonNm7CALVIN C FAYARD JR
IRS990/Form990PartVIISectionAGrp/PersonNm8CATHERINE G FREEMAN
IRS990/Form990PartVIISectionAGrp/PersonNm9MICHAEL GOLDMAN
IRS990/Form990PartVIISectionAGrp/PersonNm10G BRADLEY GOTTSEGEN
IRS990/Form990PartVIISectionAGrp/PersonNm11TARUN JOLLY
IRS990/Form990PartVIISectionAGrp/PersonNm12GORDON H KOLB SR
IRS990/Form990PartVIISectionAGrp/PersonNm13GEORGE PERRY EASTMAN IV
IRS990/Form990PartVIISectionAGrp/PersonNm14STEPHEN FARNSWORTH
IRS990/Form990PartVIISectionAGrp/PersonNm15SHERRY MARCUS LEVENTHAL
IRS990/Form990PartVIISectionAGrp/PersonNm16HARVEY M STONE
IRS990/Form990PartVIISectionAGrp/PersonNm17DAVID SYLVESTER
IRS990/Form990PartVIISectionAGrp/PersonNm18MICHAEL ANTHONY WALKER
IRS990/Form990PartVIISectionAGrp/PersonNm19DAVID WEILL
IRS990/Form990PartVIISectionAGrp/PersonNm20SYDNEY BESTHOFF III
IRS990/Form990PartVIISectionAGrp/PersonNm21HERMIE KOHLMEYER
IRS990/Form990PartVIISectionAGrp/PersonNm22LOUIS FISHMAN
IRS990/Form990PartVIISectionAGrp/PersonNm23DARRYL BERGER SR
IRS990/Form990PartVIISectionAGrp/PersonNm24HARRY BLUMENTHAL JR
IRS990/Form990PartVIISectionAGrp/PersonNm25SUSAN PHILLIPS GOOD
IRS990/Form990PartVIISectionAGrp/PersonNm26IRVING WARSHAUER
IRS990/Form990PartVIISectionAGrp/PersonNm27WILLIAM A GOLDRING
IRS990/Form990PartVIISectionAGrp/PersonNm28TRIPP FRIEDLER
IRS990/Form990PartVIISectionAGrp/PersonNm29SHONTELL THOMAS
IRS990/Form990PartVIISectionAGrp/PersonNm30ANN THORPE THOMPSON
IRS990/Form990PartVIISectionAGrp/PersonNm31MICHELLE BAUMAN VILLERE
IRS990/Form990PartVIISectionAGrp/PersonNm32PETER ELLIOTT SPERLING
IRS990/Form990PartVIISectionAGrp/PersonNm33JOHN KENNETH SAER JR
IRS990/Form990PartVIISectionAGrp/PersonNm34KENNETH H BEER
IRS990/Form990PartVIISectionAGrp/PersonNm35STEPHEN LEWIS PHILIPSON
IRS990/Form990PartVIISectionAGrp/PersonNm36VANESSA BROWN CLAIBORNE
IRS990/Form990PartVIISectionAGrp/PersonNm37DALE M SMITH
IRS990/Form990PartVIISectionAGrp/PersonNm38JENNIFER WOLLFARTH
IRS990/Form990PartVIISectionAGrp/PersonNm39DEENA CAREY
IRS990/Form990PartVIISectionAGrp/PersonNm40STEPHEN SOUD
IRS990/Form990PartVIISectionAGrp/PersonNm41JENNIFER ROSEN
IRS990/Form990PartVIISectionAGrp/PersonNm42J NELSON STEWART
IRS990/Form990PartVIISectionAGrp/PersonNm43ERIK COOPER
IRS990/Form990PartVIISectionAGrp/PersonNm44PATRICK SUMMEROUR
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt00
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IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt410

Document Assets

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Filings

Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Facts available. Structured filing facts are available, but richer extracted sections are limited.$94.6$43.8$50.8$43.6$38.5$5.06
2023Summary only. Only limited summary data is available for this year.$88.3$44.3$44.1$38.6$37.6$0.99
2022Detailed filing. Detailed filing data is available for this year.$85.8$43.9$41.9$38.5$34.1$4.32
2021Summary only. Only limited summary data is available for this year.$70.4$41.0$29.3$38.2$33.0$5.23
2020XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$70.2$46.1$24.1$35.1$29.8$5.37
2019XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$66.5$47.7$18.7$31.5$30.7$0.73
2018XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$63.4$45.4$18.0$31.3$29.1$2.20
2017Facts available. Structured filing facts are available, but richer extracted sections are limited.$54.3$38.6$15.7$32.0$27.7$4.33
2016Detailed filing. Detailed filing data is available for this year.$51.1$39.8$11.2$30.2$26.0$4.28
2015Summary only. Only limited summary data is available for this year.$45.2$38.4$6.81$30.7$22.6$8.05
2014Summary only. Only limited summary data is available for this year.$33.6$34.5$0.86$23.3$22.2$1.14
2013Summary only. Only limited summary data is available for this year.$29.7$31.7$2.00$21.6$22.0$0.44
2012Summary only. Only limited summary data is available for this year.$29.0$30.6$1.56$22.2$22.0$0.19
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$28.3$30.0$1.75$21.0
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$28.1$29.4$1.29$21.5