New Schools Fund
86% goes to programs $4 to raise $100 Strong reserves Declining revenue
New Schools Fund is a 501(c)(3) organization based in Oakland, California, registered in 1998, with $49,069,499 in FY2023 revenue. CharityIndex grades it B+, and it directs about 86% of spending to programs.
2648 International Blvd Ste 301, Oakland, CA, 94601 EIN 94-3281780 Since 1998
Revenue (FY2023)
$49.1M
▼ 34.1% vs prior year
Education median: $200K
Expenses (FY2023)
$54.5M
Net assets
$63.9M
Employees
53
CharityIndex rating
One independent A+ to F grade from four published criteria, each scored separately from IRS filings and combined by weight.
B+
★★★★
Rated on 4 of 4 criteria.
Held down by its weakest criterion — a strong score on one criterion can't hide a weak one.
How the rating works →AProgram efficiency40% of the rating86% to programs · $4 to raise $100
Measures how much of every dollar spent actually reaches programs, plus what it costs to raise $100 of donations. The worse of the two measures sets the letter (85%+ to programs is an A; under $15 to raise $100 is an A), averaged over the three most recent filings. For New Schools Fund: 86% to programs · $4 to raise $100 earns a A on this criterion. See the exact thresholds →
C+Financial health25% of the rating14 mo reserves · -11% margin
Measures whether the organization is built to last: how many months its reserves would cover expenses (3+ months earns an A-range score, but hoarding 5+ years of budget is capped) and whether it runs a surplus or a deficit. For New Schools Fund: 14 mo reserves · -11% margin earns a C+ on this criterion. See the exact thresholds →
A+Governance25% of the rating6 of 6 checks met
Checks how the organization is run, from its own Form 990: an independent board majority, a board of five or more, conflict-of-interest, whistleblower and document-retention policies, and independently audited financials. The share of disclosed checks that pass sets the letter. For New Schools Fund: 6 of 6 checks met earns a A+ on this criterion. See the exact thresholds →
A+Transparency10% of the rating5 of 5 disclosure signals
Counts five disclosure signals: a recent filing, a mission statement, program descriptions, a listed website, and the full expense breakdown. More disclosure, better letter. For New Schools Fund: 5 of 5 disclosure signals earns a A+ on this criterion. See the exact thresholds →
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Mission
New schools fund's mission is to improve public education.
What they do
Fiscal sponsorships: newschools has partnered with other entrepreneurial education organizations in fiscal sponsorship arrangements to support those organizations as they launch into new 501(c)(3) organizations.
Contact & location
- Address
- 2648 International Blvd Ste 301, Oakland, CA, 94601
- City
- Oakland
- State
- California
- Category
- Education
- Subcategory
- Support Foundations & Fundraising
- Phone
- …
- Website
- …
Financial trends
Revenue grew from $30.9M (FY2013) to $49.1M (FY2023) across 10 reported years.
Financial snapshot
Financial health & position (FY2023)
Liabilities $2.4MNet assets $63.9M
Operating margin
-11.1%
Spent more than it raised in the latest fiscal year.
Total assets
$66.4M
Total liabilities
$2.4M
Net assets
$63.9M
Salaries & benefits
$10.8M
20% of expenses
Board members
11
10 independent
Financials by year
| Fiscal year | Revenue | Expenses | Net assets | Total assets | Form |
|---|---|---|---|---|---|
| 2023 | $49,069,499▼34.1% | $54,520,195▼8.3% | $63,945,145▼6.7% | $66,393,420▼8.4% | 990 |
| 2022 | $74,508,851▲80.8% | $59,432,356▲27.3% | $68,568,961▲27.0% | $72,482,557▲30.8% | 990 |
| 2021 | $41,218,694▼36.9% | $46,697,486▲10.3% | $53,999,304▼30.7% | $55,397,321▼30.5% | 990 |
| 2020 | $65,331,687▲16.2% | $42,336,876▼2.8% | $77,916,872▲41.6% | $79,742,823▲42.6% | 990 |
| 2019 | $56,208,683▲42.5% | $43,566,897▲23.5% | $55,032,955▲27.9% | $55,916,420▲25.4% | 990 |
| 2018 | $39,455,453▲7.9% | $35,278,239▼1.2% | $43,012,028▲14.4% | $44,604,194▲15.9% | 990 |
| 2017 | $36,577,155▼61.5% | $35,697,020▼61.0% | $37,602,792▲0.9% | $38,487,864▼2.9% | 990 |
| 2016 | $94,927,374▲69.0% | $91,535,318▲68.4% | $37,267,708▲0.5% | $39,639,357▲4.4% | 990 |
| 2015 | $56,176,269▲82.0% | $54,355,742▲122% | $37,066,638▼18.5% | $37,959,589▼21.9% | 990 |
| 2013 | $30,864,982 | $24,511,328▼14.5% | $45,465,085▲16.1% | $48,598,080▲16.3% | 990 |
| 2012 | — | $28,669,787▲34.6% | $39,158,274▼25.3% | $41,798,031▼24.7% | 990 |
| 2009 | — | $21,306,196 | $52,405,788 | $55,509,886 | 990 |
Original Form 990 PDFs (the Form column) are served by ProPublica Nonprofit Explorer, as filed with the IRS. Create a free account to download the CSV report.
Leadership & compensation (FY2023)
Highest-paid: Frances Messano — $491,743 (0.90% of total expenses)
| Name | Title | Hours/week | Compensation |
|---|---|---|---|
| Frances Messano | Ceo (as of 1/23) | 40 | $491,743 |
| Danielle Kristine Toussaint | Chief Ext. Affairs Off. (thru 12/23) | 40 | $346,251 |
| Heather Mcmanus | Chief People Officer | 40 | $318,633 |
| Delicia Jones | Chief Strategy Officer/secretary | 40 | $305,100 |
| Christopher Lozier | Chief Operating Officer/treasurer | 40 | $304,435 |
| Mia Howard | Managing Partner | 40 | $264,066 |
| Cameron White | Partner | 40 | $236,516 |
| Jason Atwood | Director, Research & Learning | 40 | $232,185 |
| Maggie Andrews | Director, Development | 40 | $229,934 |
| Natalie Wilson | Partner, Equitable Investing | 40 | $228,560 |
| Angel Morales | Board Member | 2 | — |
| Brook Byers | Board Member | 2 | — |
| Charlie Wolfson | Board Member | 2 | — |
| Christopher Gabrieli | Board Member (thru 8/23) | 2 | — |
| Cori Duncan | Board Member | 2 | — |
| Ime Archibong | Board Member | 2 | — |
| Kim Smith | Board Member | 2 | — |
| Lisette Nieves | Board Member | 2 | — |
| Michelle Boyers | Board Member | 2 | — |
| Paula Sneed | Board Chair | 2 | — |
Top vendors & contractors (FY2023)
| Contractor | Services | Paid |
|---|---|---|
| Catalyst Education | Project Consulting | $1,640,200 |
| Bellwether Education Partners | Project Consulting | $1,377,478 |
| Kelvin Education Inc | Project Consulting | $612,500 |
| Education Analytics Inc | Project Consulting | $500,000 |
| Nwea | Project Consulting | $273,621 |
Grants received · $177.1M total
61 grants to New Schools Fund totaling $177.1M, reported by foundations on their Schedule I filings — showing the 15 most recent.
Grants made · $32.0M in FY2023
156 grants totaling $32.0M in FY2023 — showing the 15 largest. All grants made by New Schools Fund →
| Recipient | Purpose | Amount |
|---|---|---|
| Fund For Public Schools Inc | Innovative schools | $822,500 |
| Watts of Power Foundation Corp | Diverse leaders & racial equity | $520,000 |
| Black Men Teach | Diverse leaders & racial equity | $520,000 |
| Array Education Inc | Learning solutions | $400,000 |
| Anchor Schools Inc | Innovative schools | $315,000 |
| Gwinnett County Board of Education | Innovative schools & racial equity | $315,000 |
| Earlybird Education | Learning solutions | $300,000 |
| Hoogalit Inc | Learning solutions | $300,000 |
| Forte Preparatory Academy Charter School | Innovative schools | $295,000 |
| St Louis Voices Academy of Media Arts | Innovative schools | $267,500 |
| Sankofa Montessori | Innovative schools | $267,500 |
| Pathways To Accelerate A Career Experience (casa Grande Union High School D | Innovative schools | $265,000 |
| Jacksonville Public Education Fund Inc | Diverse leaders & racial equity | $260,000 |
| A Schools Pittsburghs Community Alliance For Public Education | Diverse leaders & racial equity | $260,000 |
| Dallas Independent School District | Innovative schools | $255,000 |
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Compare New Schools Fund
Frequently asked questions
- Is New Schools Fund a legitimate nonprofit?
- Yes. New Schools Fund is a 501(c)(3) organization registered with the U.S. Internal Revenue Service under EIN 94-3281780, based in Oakland, California. Donations are tax-deductible.
- What is New Schools Fund's EIN?
- New Schools Fund's Employer Identification Number (EIN) is 94-3281780.
- How much revenue does New Schools Fund report?
- New Schools Fund reported $49,069,499 in total revenue on its fiscal year 2023 IRS Form 990 filing.
- How much of New Schools Fund's spending goes to programs?
- New Schools Fund spends about 86% of its total expenses on programs, based on its latest IRS Form 990.
- What financial grade does New Schools Fund have?
- CharityIndex grades New Schools Fund B+, based on program efficiency and fundraising cost.
- How much does New Schools Fund's highest-paid employee make?
- The highest reported compensation on New Schools Fund's latest Form 990 is $491,743, paid to Frances Messano (Ceo (as of 1/23)).
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Explore more
Data for New Schools Fund (EIN 94-3281780) comes from the IRS Business Master File and e-filed Form 990 returns, via CharityIndex. Figures reflect what the organization reported to the IRS for each fiscal year.