Civic Intelligence

New Way Academy

990 • Fiscal year 2024 • EIN 86-0215781

Jul 01, 2023 to Jun 30, 2024 • Filed on Feb 19, 2025

Organization ProfileWWW.NEWWAYACADEMY.ORG

View Organization Page

5048 E Oak StPhoenix, AZ 85008

(602) 389-8600

Siviq Scores

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

Liabilities / Assets

71st percentile

0.42x

Higher debt load relative to assets than 71% of similar nonprofits.

2024 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2024

Liabilities / Revenue

72nd percentile

0.59x

Higher debt load relative to revenue than 72% of similar nonprofits.

2024 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2024

Net Margin

45th percentile

2.6%

Higher net margin than 45% of similar nonprofits.

2024 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2024

Top Officer Pay

22nd percentile

$102,668

Higher top officer pay than 22% of similar nonprofits.

Top officer pay equals 1.3% of source-year revenue.

2024 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2024

Asset Growth

94th percentile

54%

Faster asset growth than 94% of similar nonprofits.

2024 filings • 501(c)3 • $10M-$25M nonprofits • Annualized from 2023 to 2024

Revenue Growth

47th percentile

6.2%

Faster revenue growth than 47% of similar nonprofits.

2024 filings • 501(c)3 • $10M-$25M nonprofits • Annualized from 2023 to 2024

Balance Sheet
Liabilities / Assets71st percentile

Assets

Up

$10,978,895

Up $3,840,855 (+54%) from 2023

Net Assets

Up

$6,393,534

Up $485,438 (+8.2%) from 2023

Liabilities

Up

$4,585,361

Up $3,355,417 (+273%) from 2023

Revenue And Expenses
Liabilities / Revenue72nd percentileNet Margin45th percentile

Revenue

Up

$7,827,913

Up $457,295 (+6.2%) from 2023

Expenses

Up

$7,625,505

Up $414,186 (+5.7%) from 2023

Net Income

Up

$202,408

Up $43,109 (+27%) from 2023

Historical Trend

Balance Sheet Trend

Asset Growth94th percentile

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

$15M$10M$5.0M$0Assets 2011: $2,028,267Liabilities 2011: $1,276,043Net Assets 2011: $752,2242011Assets 2012: $2,215,657Liabilities 2012: $1,259,221Net Assets 2012: $956,4362012Assets 2013: $2,309,705Liabilities 2013: $945,257Net Assets 2013: $1,364,4482013Assets 2014: $2,165,623Liabilities 2014: $501,045Net Assets 2014: $1,664,5782014Assets 2015: $2,793,421Liabilities 2015: $632,579Net Assets 2015: $2,160,8422015Assets 2016: $3,295,990Liabilities 2016: $661,907Net Assets 2016: $2,634,0832016Assets 2017: $4,326,315Liabilities 2017: $1,071,898Net Assets 2017: $3,254,4172017Assets 2018: $5,284,246Liabilities 2018: $1,321,206Net Assets 2018: $3,963,0402018Assets 2019: $5,418,008Liabilities 2019: $1,120,671Net Assets 2019: $4,297,3372019Assets 2020: $6,964,229Liabilities 2020: $2,317,827Net Assets 2020: $4,646,4022020Assets 2021: $6,840,428Liabilities 2021: $717,250Net Assets 2021: $6,123,1782021Assets 2022: $6,706,350Liabilities 2022: $1,142,813Net Assets 2022: $5,563,5372022Assets 2023: $7,138,040Liabilities 2023: $1,229,944Net Assets 2023: $5,908,0962023Assets 2024: $10,978,895Liabilities 2024: $4,585,361Net Assets 2024: $6,393,5342024Assets 2025: $12,636,589Liabilities 2025: $5,072,769Net Assets 2025: $7,563,8202025

Highlighted filing

2024

Assets$10,978,895
Liabilities$4,585,361
Net Assets$6,393,534
Open 2024 Filing

Operations Trend

Revenue Growth47th percentile

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

$10M$5.0M$0-$5.0MRevenue 2011: $2,576,872Expenses 2011: $2,664,097Net Income 2011: -$87,2252011Revenue 2012: $3,086,888Expenses 2012: $2,882,676Net Income 2012: $204,2122012Revenue 2013: $3,344,669Expenses 2013: $2,936,657Net Income 2013: $408,0122013Revenue 2014: $3,927,217Expenses 2014: $3,627,087Net Income 2014: $300,1302014Revenue 2015: $4,568,089Expenses 2015: $4,059,278Net Income 2015: $508,8112015Revenue 2016: $5,309,549Expenses 2016: $4,837,545Net Income 2016: $472,0042016Revenue 2017: $6,091,022Expenses 2017: $5,467,990Net Income 2017: $623,0322017Revenue 2018: $7,167,474Expenses 2018: $6,455,656Net Income 2018: $711,8182018Revenue 2019: $7,169,034Expenses 2019: $6,844,113Net Income 2019: $324,9212019Revenue 2020: $7,373,945Expenses 2020: $7,032,513Net Income 2020: $341,4322020Revenue 2021: $8,782,802Expenses 2021: $7,302,404Net Income 2021: $1,480,3982021Revenue 2022: $7,067,790Expenses 2022: $7,425,595Net Income 2022: -$357,8052022Revenue 2023: $7,370,618Expenses 2023: $7,211,319Net Income 2023: $159,2992023Revenue 2024: $7,827,913Expenses 2024: $7,625,505Net Income 2024: $202,4082024Revenue 2025: $8,249,574Expenses 2025: $7,445,065Net Income 2025: $804,5092025

Highlighted filing

2024

Revenue$7,827,913
Expenses$7,625,505
Net Income$202,408
Open 2024 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2023 to Jun 30, 2024
Signed
Feb 19, 2025
Return Version
2023v6.0
Gross Receipts
$8,021,256
Mission and Program Overview

Mission

The mission of new way academy is to educate children with learning differences to fulfill their potential.

Balance Sheet Detail
LineBeginningEndChange
Assets
Investments in Publicly Traded Securities$4,165,222$4,782,593▲ $617,371
Savings and Temporary Cash Investments$681,610$1,269,650▲ $588,040
Cash and Non-Interest-Bearing Accounts$1,245,572$676,959▼ $568,613
Land, Buildings, and Equipment, Net$724,344$604,813▼ $119,531
Accounts Receivable$219,917$213,210▼ $6,707
Prepaid Expenses and Deferred Charges$96,870$33,794▼ $63,076
Other Notes and Loans Receivable, Net$4,504$4,824▲ $320
Pledges and Grants Receivable-$0-
Receivable From Disqualified Prsn-$0-
Receivables From Officers Etc-$0-
Investments Other Securities-$0-
Investments Program Related-$0-
Intangible Assets-$0-
Inventories for Sale or Use-$0-
Total Assets$7,138,040$10,978,895▲ $3,840,855
Other Assets Total-$3,393,052-
Liabilities
Other Liabilities$440,135$4,004,611▲ $3,564,476
Deferred Revenue$695,337$543,581▼ $151,756
Accounts Payable and Accrued Expenses$94,472$37,169▼ $57,303
Total Liabilities$1,229,944$4,585,361▲ $3,355,417
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$5,360,299$5,854,257▲ $493,958
Net Assets With Donor Restrictions$547,797$539,277▼ $8,520
Total Net Assets Fund Balance$5,908,096$6,393,534▲ $485,438
Total Liabilities and Net Assets / Fund Balance$7,138,040$10,978,895▲ $3,840,855

Asset Categories

AssetBook ValueDepreciationBasis
Leasehold Improvements$532,996$493,772$1,026,768
Equipment$71,817$464,552$536,369
Other Assets Org$3,393,052--
Compensation and Service Providers
Top Officer Pay22nd percentile

Employees

NameTitleFull / Part TimeBaseOtherTotal
Katie ChavezHead of SchoolFT$92,625$10,043$102,668
Laura KeathleyExecutive DirectorFT$91,135$2,689$93,824
Jill FaconSecretaryFT$56,627$7,287$63,914

Board Members and Trustees

NameTitle
Jenny Cho GreenChairperson
Deborah ContiVice Chairperso
Brett BernsteinDirector
Brian NelsonDirector
Cynthia BowersDirector
Eric SchaeferDirector
Jon HulburdDirector
Jonah JoffeDirector
Kara WilliamsDirector
Karla ReynoldsDirector
Lea PhillipsDirector
Dan KravetsTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$308,618
Program Service Revenue
$7,378,560
Investment Income
$172,409
Other Revenue
$-31,674
All Other Contributions
$276,766
Change in Net Assets
$202,408
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$5,416,746
Other Expenses$2,208,759
Total Fundraising Expense$245,323
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$3,504,845$667,067$115,504$4,287,416
Occupancy$617,952$121,744$21,203$760,899
Other Employee Benefits$351,483$69,246$12,060$432,789
Payroll Taxes$264,235$52,057$9,067$325,359
Current Officers, Directors, Trustees, and Key Employees$256,401$50,647$9,496$316,544
Depreciation Depletion$93,857$18,491$3,220$115,568
Other Expenses$150,601$13,177$66,972$66,972
Insurance$49,643$9,780$1,703$61,126
Pension Plan Contributions$44,373$8,742$1,523$54,638
Advertising$38,825$7,649$1,332$47,806
Fees for Services Other$27,617$5,441$948$34,006
Fees for Service Investment Mgmnt Fees-$17,539-$17,539
Total Functional Expenses$6,338,602$1,041,580$245,323$7,625,505
Fundraising, Events, and Gaming
Fundraising activities
Yes
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Direct Expenses$56,859
Fundraising Gross Income$25,185
Professional Fundraising Fees$0

Fundraising Events

EventGross ReceiptsGross RevenueDirect ExpensesNet Income
Emerald Gala$57,037$25,185$8,644$16,541
Total Events$57,037$25,185$56,859$-31,674
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Insider Transactions and Loans

Loans and Receivables

Line ItemBeginningEndChange
Receivables from Disqualified Persons-$0-
Receivables from Officers, Directors, Trustees, and Key Employees-$0-
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Long Term Operating Lease Liability$3,150,691
Accrued Salaries and Expenses$518,778
Current Operating Lease Liabilit$321,032
Due to FAIS$14,110
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
Yes
Annual disclosure for covered persons
Yes
Audit committee
No
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
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, Part VI, Section A, Line 8B

“The organization had no committees.”

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

“The board of directors has the opportunity to review the return prior to filing.”

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

“Annually each director and officer must complete a disclosure form identifying any relationships, positions or circumstances in which s/he is involved that he or she believes could contribute to a Conflict of Interest.”

Form 990, Part VI, Section B, Line 15A

“Compensation committee reviews comparable salaries and salary surveys to recommend salaries for head of school and executive director.”

Form 990, Part VI, Section C, Line 19

“Governing doucments, conflict of interest policy, and financial statements are available upon request.”

Filing and Contact Details

Filer

Filer Name
New Way Academy
EIN
86-0215781
Phone
6023898600
Address
5048 E OAK ST, PHOENIX, AZ 85008

Signing Officer

Name
Laura Keathley
Title
Executive Director
Signed
2025-02-19
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Laura Keathley
Formed
1986
Legal Domicile
Az
Voting Board Members
14
Independent Board Members
12
Employees
86
Volunteers
55

Preparer

Firm
Ullmann and Company P C
Address
4647 N 32ND ST STE 220, PHOENIX, AZ 85018
Preparer
Jared Van Arsdale
Phone
6022240166
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Document Assets

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Filings

Displayed year

2024 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$10,978,895
Liabilities
$4,585,361
Net assets
$6,393,534
Revenue
$7,827,913
Expenses
$7,625,505
Net income
$202,408
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2025Detailed filing. Detailed filing data is available for this year.$12.6$5.07$7.56$8.25$7.45$0.80
2024Detailed filing. Detailed filing data is available for this year.$11.0$4.59$6.39$7.83$7.63$0.20
2023Detailed filing. Detailed filing data is available for this year.$7.14$1.23$5.91$7.37$7.21$0.16
2022Detailed filing. Detailed filing data is available for this year.$6.71$1.14$5.56$7.07$7.43$0.36
2021Detailed filing. Detailed filing data is available for this year.$6.84$0.72$6.12$8.78$7.30$1.48
2020Detailed filing. Detailed filing data is available for this year.$6.96$2.32$4.65$7.37$7.03$0.34
2019Detailed filing. Detailed filing data is available for this year.$5.42$1.12$4.30$7.17$6.84$0.32
2018Detailed filing. Detailed filing data is available for this year.$5.28$1.32$3.96$7.17$6.46$0.71
2017Detailed filing. Detailed filing data is available for this year.$4.33$1.07$3.25$6.09$5.47$0.62
2016Summary only. Only limited summary data is available for this year.$3.30$0.66$2.63$5.31$4.84$0.47
2015Summary only. Only limited summary data is available for this year.$2.79$0.63$2.16$4.57$4.06$0.51
2014Summary only. Only limited summary data is available for this year.$2.17$0.50$1.66$3.93$3.63$0.30
2013Summary only. Only limited summary data is available for this year.$2.31$0.95$1.36$3.34$2.94$0.41
2012Summary only. Only limited summary data is available for this year.$2.22$1.26$0.96$3.09$2.88$0.20
2011Summary only. Only limited summary data is available for this year.$2.03$1.28$0.75$2.58$2.66$0.09
Peer Organizations

Similar nonprofits based on the same Siviq industry and scale cohort. 2024 filings • 501(c)3 • $10M-$25M nonprofits