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Nonprofiteer
← THE NEW COMMON SCHOOL FOUNDATION

Form 990 for tax year 2023

Filed by THE NEW COMMON SCHOOL FOUNDATION.

Totals

Total revenue
$5,202,613
Total expenses
$4,212,998
Contributions and grants received
$1,712,762
Grants paid
$425,150
Program service revenue
$3,052,495
Investment income
$436,956
Other revenue
$400
Total assets, end of year
$45,305,392
Total liabilities, end of year
$9,883,945
Net assets or fund balances, end of year
$35,421,447
Program services expenses (Part IX)
$3,501,133
Management and general expenses
$443,122
Fundraising expenses
$268,743
Program service expenses (Part III)
$3,501,133

Program services were 83.1% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.

Line items

Every line the filer filed in Parts VIII, IX and X, as filed and in filed order. Blank columns are left out, and the lines are not forced to add up to the totals above.

Revenue

Part VIII, the statement of revenue.

  • 1f · All other contributions, gifts and grants

    $1,712,762

  • 1g · Noncash contributions included above

    $127,711

  • 2a · Program service revenue: PROGRAM SERVICE REV.

    total $3,052,495 · related or exempt $3,052,495

  • 3 · Investment income

    total $297,373 · excluded $297,373

  • 7a · Gross sales of assets other than inventory

    securities $160,491

  • 7b · Less cost or other basis and sales expenses

    securities $0 · other assets $20,908

  • 7c · Gain or loss

    securities $160,491 · other assets -$20,908

  • 7d · Net gain or loss

    total $139,583 · excluded $139,583

  • 11a · Other revenue: OTHER INCOME

    total $400 · related or exempt $400

  • 11e · Other revenue, total

    $400

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $425,150 · program services $425,150

  • 5 · Compensation of officers, directors and key employees

    total $570,145 · program services $456,116 · management and general $85,522 · fundraising $28,507

  • 7 · Other salaries and wages

    total $349,222 · program services $113,376 · management and general $86,971 · fundraising $148,875

  • 9 · Other employee benefits

    total $55,128 · program services $16,538 · management and general $13,782 · fundraising $24,808

  • 10 · Payroll taxes

    total $45,604 · program services $28,249 · management and general $8,556 · fundraising $8,799

  • 11b · Fees: legal

    total $24,656 · program services $8,736 · management and general $15,920

  • 11c · Fees: accounting

    total $38,753 · program services $5,813 · management and general $29,065 · fundraising $3,875

  • 11g · Fees: other

    total $404,718 · program services $293,161 · management and general $96,272 · fundraising $15,285

  • 13 · Office expenses

    total $40,330 · program services $6,934 · management and general $29,206 · fundraising $4,190

  • 14 · Information technology

    total $29,223 · program services $5,024 · management and general $21,163 · fundraising $3,036

  • 16 · Occupancy

    total $283,669 · program services $283,669

  • 17 · Travel

    total $92,188 · program services $89,819 · management and general $1,822 · fundraising $547

  • 19 · Conferences, conventions and meetings

    total $5,174 · program services $5,174

  • 20 · Interest

    total $339,049 · program services $339,049

  • 22 · Depreciation, depletion and amortization

    total $1,137,002 · program services $1,137,002

  • 23 · Insurance

    total $86,571 · program services $54,800 · management and general $31,771

  • 24a · Other expenses: REPAIRS AND MAINTENANCE

    total $81,633 · program services $81,633 · management and general $0 · fundraising $0

  • 24b · Other expenses: PROMOTION & DEVELOPMENT

    total $54,927 · program services $54,927 · management and general $0 · fundraising $0

  • 24c · Other expenses: MEALS AND ENTERTAINMENT

    total $27,578 · program services $22,062 · management and general $4,137 · fundraising $1,379

  • 24d · Other expenses: EVENTS

    total $27,491 · program services $0 · management and general $0 · fundraising $27,491

  • 24e · All other expenses

    total $94,787 · program services $73,901 · management and general $18,935 · fundraising $1,951

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $842,377 · end of year $1,746,854

  • 2 · Savings and temporary cash investments

    beginning of year $2,599,733 · end of year $3,401,707

  • 3 · Pledges and grants receivable

    beginning of year $1,901,330 · end of year $1,447,935

  • 4 · Accounts receivable

    beginning of year $395,298 · end of year $886,185

  • 5 · Loans and receivables from officers and key people

    beginning of year $300,000 · end of year $300,000

  • 7 · Other notes and loans receivable

    beginning of year $3,572,414 · end of year $2,012,207

  • 9 · Prepaid expenses and deferred charges

    beginning of year $14,844 · end of year $70,257

  • 10a · Land, buildings and equipment: cost or other basis

    $44,728,673

  • 10b · Land, buildings and equipment: accumulated depreciation

    $9,971,032

  • 10c · Land, buildings and equipment, net

    beginning of year $31,490,216 · end of year $34,757,641

  • 15 · Other assets

    beginning of year $3,272,976 · end of year $682,606

  • 17 · Accounts payable and accrued expenses

    beginning of year $646,971 · end of year $401,375

  • 23 · Secured mortgages and notes payable

    beginning of year $9,392,805 · end of year $9,482,570

  • 27 · Net assets without donor restrictions

    beginning of year $30,866,382 · end of year $32,998,050

  • 28 · Net assets with donor restrictions

    beginning of year $3,483,030 · end of year $2,423,397

Mission and programs · 2023

Mission

THE MISSION OF THE NEW COMMON SCHOOL FOUNDATION IS TO BUILD A SUSTAINABLE MODEL OF EXCELLENCE FOR A NEW COMMON SCHOOL WITHIN A BROAD, BELOVED, AND COMMITTED COMMUNITY OF FRIENDS.

  • THE NEW COMMON SCHOOL FOUNDATION (THE FOUNDATION) IS HELPING TO RESEARCH, DEVELOP, CREATE, AND SUPPORT A NEW COMMON SCHOOL FOR PUBLIC SCHOOL STUDENTS. IT ALSO IS SEEKING TO SUPPORT LEARNINGS IN READING AND MATH INSTRUCTION WHILE ALSO HELPING TO CREATE CAREER OPPORTUNITIES FOR URBAN CHILDREN. THE FOUNDATION HAS WORKED TO PURCHASE, DEVELOP, AND/OR MAINTAIN HIGHER QUALITY LEARNING ENVIRONMENTS WHILE CREATING PARTNERSHIPS WITH THE CORNERSTONE EDUCATION GROUP TO ACHIEVE ITS COMPLETE LIFE MISSION TO SERVE 2,500 OR MORE STUDENTS IN THE CITY OF DETROIT.

    Expenses $3,501,133 · Grants $425,150 · Revenue $3,052,895

As filed on the 2023 return.

Listed in Part VII

  • Jeffery Neilson

    CHAIRMAN

    Total calculated
    $0
    Hours/week
    0.5

  • Clark Durant

    PRESIDENT AND TREASURER

    Total calculated
    $570,145
    From this org
    $515,000
    From related orgs
    $0
    Other
    $55,145
    Hours/week
    60 + 2 related

    Schedule J breakdown matched by us

    Base
    $475,000
    Bonus
    $40,000
    Other
    $0
    Deferred
    $22,875
    Nontaxable benefits
    $32,270
    Filer's total
    $570,145

  • Carol Mansfield

    DIRECTOR AND SECRETARY

    Total calculated
    $0
    Hours/week
    0.5

  • Sharon Maier

    VP INSTITUTIONAL ADVANCEMENT

    Total calculated
    $140,000
    From this org
    $140,000
    From related orgs
    $0
    Other
    $0
    Hours/week
    40

Compensation is as filed in Part VII: reportable pay from this organization and from related organizations, other compensation, and hours per week. The total, marked calculated, is our sum of the three dollar columns, with a blank column counted as $0; the form itself has no total. On a Form 990-EZ the columns are Part IV's instead, and on a Form 990-PF Part VIII's — compensation, contributions to benefit plans, and expense account — and the total sums those. A Schedule J breakdown is as filed: base pay, bonus, other, deferred compensation and nontaxable benefits from this organization, with any from related organizations beside each, and the filer's own total. It is shown with the Part VII listing of the same name on the same return. The form gives no key between the two, so that pairing is ours, and is marked matched by us.

Schedule J

Answered yes

  • 1a · Health or social club dues or initiation fees
  • 1b · Written policy on the line-1a expenses
  • 2 · Substantiation required before reimbursing expenses
  • 3 · Compensation committee
  • 3 · Independent compensation consultant
  • 3 · Form 990 of other organizations
  • 3 · Written employment contract
  • 3 · Compensation survey or study
  • 3 · Approval by the board or compensation committee

Answered no

  • 4a · Severance or change-of-control payment
  • 4b · Supplemental nonqualified retirement plan
  • 4c · Equity-based compensation arrangement
  • 5a · Pay contingent on this organization's revenues
  • 5b · Pay contingent on a related organization's revenues
  • 6a · Pay contingent on this organization's net earnings
  • 6b · Pay contingent on a related organization's net earnings
  • 7 · Other non-fixed payments
  • 8 · Paid under the initial-contract exception

The filer's explanations (Part III)

PART I, LINE 1A
THE NEW COMMON SCHOOL FOUNDATION PAYS THE DUES FOR THE PRESIDENT, CLARK DURANT, FOR THE DETROIT ATHLETIC CLUB FOR FUNDRAISING PURPOSES.

Part I's answers as filed. A line not listed was left unanswered; on lines 1a and 3 that means the box was not checked.

Grants on this return

Related organizations on this return

Schedule R Part II: tax-exempt organizations related to the filer by control. It does not record shared board members or money.

Provenance

Return type
form_990
Tax year
2023
Filed
14 November 2024
IRS schema version
2023v5.1
Source object
202443199349304149

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