2026-05-15T19:14:08-05:00 2025-06-30 871353108 EISNER ADVISORY GROUP LLC 111 WOOD AVENUE SOUTH ISELIN NJ 088302700 990 2024-07-01 221487270 NEWARK ACADEMY NEWA 9739927000 91 SOUTH ORANGE AVENUE LIVINGSTON NJ 07039 SAM GOLDFISCHER DIRECTOR OF BUSINESS 9739927000 2026-05-15 1 0 GINA RACHEL P01216293 7322437000 2024 2025-03-06 01:10:19Z DONALD M AUSTIN 91 SOUTH ORANGE AVENUE LIVINGSTON NJ 07039 47238978 0 X WWW.NEWARKA.EDU X 1774 NJ NEWARK ACADEMY WILL CONTRIBUTE TO SOCIETY THOUGHTFUL & COMPASSIONATE CITIZENS WHO EMBRACE THEIR RESPONSIBILITIES AS ETHICAL, INTELLECTUAL & CIVIC STEWARDS IN THE GLOBAL ENVIRONMENT. 24 23 341 85 0 0 5139951 4184919 36037708 38225266 2442830 2429827 784520 865949 44405009 45705961 4004742 4382718 0 0 22493500 23889611 0 0 1069050 13149866 13555454 39648108 41827783 4756901 3878178 123655235 132738812 13971486 14564939 109683749 118173873 NEWARK ACADEMY WILL CONTRIBUTE TO SOCIETY THOUGHTFUL AND COMPASSIONATE CITIZENS WHO EMBRACE THEIR RESPONSIBILITIES AS ETHICAL, INTELLECTUAL AND CIVIC STEWARDS IN THE GLOBAL ENVIRONMENT. 0 0 31870666 4382718 38425872 NEWARK ACADEMY (THE "ACADEMY") IS AN INDEPENDENT SCHOOL LOCATED IN LIVINGSTON, NJ THAT OFFERS AN ACADEMICALLY RIGOROUS COLLEGE PREPARATORY PROGRAM TO A STUDENT BODY COMPOSED OF DIVERSE, MULTI-CULTURAL, INTERNATIONAL GROUP OF YOUNG PEOPLE. TUITION REPRESENTS THE ACADEMY'S PRIMARY SOURCE OF REVENUE. 31870666 1 1 0 0 0 0 0 0 0 1 1 0 0 0 1 1 1 0 1 0 0 0 0 0 0 0 0 0 1 1 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 1 70 0 1 341 1 0 0 0 0 0 0 0 0 0 0 0 0 X 24 23 0 0 0 0 0 0 0 1 1 0 0 0 1 1 1 1 1 1 1 0 NJ X X SAM GOLDFISCHER 9739927000 91 SOUTH ORANGE AVENUE LIVINGSTON NJ 07039 DONALD M AUSTIN BOARD MEMBER/HEAD OF SCHOOL 60.00 X X 681122 0 104268 REBECCA FREED BOG BOARD MEMBER 1.00 X 0 0 0 MILWOOD HOBBS JR BOARD MEMBER 1.00 X 0 0 0 PATRICIA BUDZIAK VICE CHAIRMAN 1.00 X 0 0 0 RASHEEA S WILLIAMS HALL BOARD MEMBER 1.00 X 0 0 0 SAMUEL W CROLL CHAIRMAN 1.00 X X 0 0 0 ROBERT FINK BOARD MEMBER 1.00 X 0 0 0 ROBERT KUNZWEILER BOARD MEMBER 1.00 X 0 0 0 ROBERT MARCUS TREASURER 1.00 X X 0 0 0 ROHIT BAWA BOARD MEMBER 1.00 X 0 0 0 LAWRENCE G CETRULO SECRETARY 1.00 X X 0 0 0 MARC SCHWARTZ BOARD MEMBER 1.00 X 0 0 0 BASEL KAYYALI BOARD MEMBER 1.00 X 0 0 0 LAUREN HEDVAT BOARD MEMBER 1.00 X 0 0 0 WENDY SHORT BARTIE BOARD MEMBER 1.00 X 0 0 0 KATY BURNS BOARD MEMBER 1.00 X 0 0 0 ALEXANDER OPPER BOARD MEMBER 1.00 X 0 0 0 DAVID CASTELBLANCO BOARD MEMBER 1.00 X 0 0 0 DEBRA CAPLAN BOARD MEMBER 1.00 X 0 0 0 DAVID CRALL BOARD MEMBER 1.00 X 0 0 0 JOHN BESS BOARD MEMBER 1.00 X 0 0 0 KALENAH WITCHER BOARD MEMBER 1.00 X 0 0 0 ELIZABETH WOODALL BOARD MEMBER 1.00 X 0 0 0 AJAY DHANKHAR BOARD MEMBER 1.00 X 0 0 0 SAMUEL GOLDFISCHER DIRECTOR OF BUSINESS & FIN 50.00 X 336657 0 67406 THOMAS ASHBURN MIDDLE SCHOOL PRINCIPAL 50.00 X 256485 0 30164 ROSE MCSWEEN CHIEF ADVANCEMENT OFFICER 40.00 X 222960 0 26642 LOUIS SCERRA CHIEF STRATEGY OFFICER 40.00 X 182989 0 55429 NANCY CELENTE ASST. HEAD OF SCHOOL FOR TEACHING 40.00 X 176943 0 48031 SETH LIEBERMAN ATHLETIC DIRECTOR 40.00 X 141994 0 13188 RICHARD DIBIANCA TEACHER 40.00 X 161514 0 49005 CATHY ATWELL US PRINCIPAL 40.00 X 168883 0 46995 KERRY WINIARSKI DIRECTOR OF COLLEGE COUNSELING 40.00 X 153438 0 53537 MARGARET GALVIN SCOTT DIRECTOR OF UPPER SCHOOL STUDENT LIFE 40.00 X 150559 0 20653 2633544 0 515318 72 0 1 0 NATOLI CONSTRUCTION 293 CHANGE BRIDGE RD PINE BROOK NJ 07058 CONSTRUCTION 1423852 SAGE DINNING 91 W MT PLEASSANT AVE LIVINGSTON NJ 07039 CATERING 1378802 BELAIR TRANSPORTATION 641 TREMOND AVENUE ORANGE NJ 07050 TRANSPORTATION 406930 HARVARD CLEANING 570 SEVENTH AVE NEW YORK NY 08807 CLEANING 332964 SUNBELT RENTAL 440 CONNECTION 600 NJ-440 ROUTE PERTH AMBOY NJ 08861 RENTAL 242426 25 4184919 125797 4184919 TUITION AND FEES 611600 34296593 34296593 SUMMER SCHOOL 611600 2678654 2678654 FOOD SERVICES 611600 1183020 1183020 MATRICULATION & ADMISSION 611600 66999 66999 38225266 2223027 2223027 691184 25920 665264 665264 665264 1704143 1497343 206800 206800 206800 9833 9754 79 79 TECHNOLOGY FEES 611710 146976 146976 OTHER REVENUE 611710 29581 29581 FORFEITED DEPOSITS 611710 24049 24049 200606 45705961 38425872 0 3095170 X 4382718 4382718 2029975 1420983 548093 60899 15559667 10891766 4255679 412222 4994952 3507190 1368317 119445 1305017 938762 366255 26284 13142 13142 723496 723496 756862 542201 211537 3124 1894759 1894759 412581 137527 275054 SUMMER SCHOOL AND CAMP 1236193 1236193 FOOD SERVICES 1097045 1097045 CONTRACTED SERVICES 925613 925613 GENERAL ADMISSIONS 818116 272705 545411 5664505 3886566 1304579 473360 41827783 31870666 8888067 1069050 34673491 33666267 2228679 2332059 157800 137800 75843 70678 343329 120133 72036443 31964431 39280238 40072012 45999432 55437436 896423 902427 123655235 132738812 2860587 3100621 8789408 8870162 2321491 2594156 13971486 14564939 X 59232231 59914072 50451518 58259801 109683749 118173873 123655235 132738812 X 3878178 4912027 -300081 X X 0 1 X 1 0 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 49107096 1829915 6242558 318426 56861143 40236776 2931029 6195279 255988 49107096 35880793 730652 3848626 223295 40236776 41192257 847300 -5906868 251896 35880793 32795759 43825 8583980 231307 41192257 0.50000 0.50000 0 0 274334 274334 57386401 31964431 25421970 9878992 9878992 4496716 4496716 40072012 POSTRETIREMENT HEALTH BENEFITS 2406037 LEASE LIABILITIES 188119 2594156 X 41152117 35674 35674 41116443 4589518 4589518 45705961 37480739 0 37480739 4347044 4347044 41827783 PART V, LINE 4: THE ACADEMY HAS A POLICY OF APPROPRIATING FOR DISTRIBUTION EACH YEAR NO MORE THAN 5% OF THE VALUE OF THE ENDOWMENT FUND. AS OF JULY 1, 2009, THE ACADEMY IMPLEMENTED A NEW SPENDING POLICY WHICH IS TO ANNUALLY APPROPRIATE NOT MORE THAN 5% OF THE TRAILING THREE-YEAR AVERAGE OF THE FUNDS' TOTAL ASSET VALUE TO THE GENERAL OPERATING FUND OF THE ACADEMY, WITH THE GENERAL UNDERSTANDING THAT THIS SPENDING RATE, WHEN ADDED TO THE OVERALL RATE OF INFLATION, WILL NOT NORMALLY EXCEED THE TOTAL RETURN RECEIVED FROM INVESTMENT OF THE FUNDS' ASSETS. PART X, LINE 2: MANAGEMENT HAS ANALYZED THE TAX POSITIONS TAKEN BY THE ACADEMY AND HAS CONCLUDED THAT AS OF JUNE 30, 2025 AND 2024, THERE ARE NO UNCERTAIN TAX POSITIONS TAKEN OR EXPECTED TO BE TAKEN THAT WOULD REQUIRE THE RECOGNITION OF A LIABILITY OR DISCLOSURE IN THE FINANCIAL STATEMENTS. THE ACADEMY RECOGNIZES ACCRUED INTEREST AND PENALTIES ASSOCIATED WITH UNCERTAIN TAX POSITIONS, IF ANY. THERE WERE NO INCOME TAX-RELATED INTEREST AND PENALTIES RECORDED FOR THE YEARS ENDED JUNE 30, 2025 AND 2024. PART XI, LINE 2D - OTHER ADJUSTMENTS: COST OF GOODS SOLD RECLASSED 9,754. RENTAL EXPENSES RECLASSED 25,920. PART XI, LINE 4B - OTHER ADJUSTMENTS: FINANCIAL AID RECLASSES 4,382,718. REALIZED GAIN ON INVESTMENT 206,800. PART XII, LINE 4B - OTHER ADJUSTMENTS: FINANCIAL AID RECLASSES 4,382,718. COST OF GOODS SOLD RECLASSED -9,754. RENTAL EXPENSES RECLASSED -25,920. 1 1 1 1 1 1 1 0 0 0 0 0 0 0 0 0 0 1 SCHEDULE E, PART I, LINE 3 ALL ADMISSIONS PUBLICATIONS CONTAIN THE ORGANIZATION'S RACIALLY NONDISCRIMINATORY POLICY. 1 FINANCIAL AID 123 4382718 PART I, LINE 2: GRANT FUNDS USUALLY USED TO REDUCE TUITION BURDEN OF STUDENTS, WHICH ARE PROCESSED BY POLICY ESTABLISHED BY SCHOOL ADMINISTRATION. X 0 0 0 0 0 0 0 0 0 DONALD M AUSTIN BOARD MEMBER/HEAD OF SCHOOL 681122 0 0 0 0 0 69000 0 35268 0 785390 0 0 0 SAMUEL GOLDFISCHER DIRECTOR OF BUSINESS & FIN 336657 0 0 0 0 0 39041 0 28365 0 404063 0 0 0 THOMAS ASHBURN MIDDLE SCHOOL PRINCIPAL 256485 0 0 0 0 0 29300 0 864 0 286649 0 0 0 ROSE MCSWEEN CHIEF ADVANCEMENT OFFICER 222960 0 0 0 0 0 12566 0 14076 0 249602 0 0 0 LOUIS SCERRA CHIEF STRATEGY OFFICER 182989 0 0 0 0 0 20212 0 35217 0 238418 0 0 0 NANCY CELENTE ASST. HEAD OF SCHOOL FOR TEACHING 176943 0 0 0 0 0 20530 0 27501 0 224974 0 0 0 CATHY ATWELL US PRINCIPAL 168883 0 0 0 0 0 18895 0 28100 0 215878 0 0 0 RICHARD DIBIANCA TEACHER 161514 0 0 0 0 0 20640 0 28365 0 210519 0 0 0 KERRY WINIARSKI DIRECTOR OF COLLEGE COUNSELING 153438 0 0 0 0 0 18237 0 35300 0 206975 0 0 0 MARGARET GALVIN SCOTT DIRECTOR OF UPPER SCHOOL STUDENT LIF 150559 0 0 0 0 0 18253 0 2400 0 171212 0 0 0 SETH LIEBERMAN ATHLETIC DIRECTOR 141994 0 0 0 0 0 10797 0 2391 0 155182 0 0 0 PART II NONTAXABLE BENEFITS NONTAXABLE BENEFITS IN PART II CONSIST OF MEDICAL & DENTAL INSURANCE, LIFE INSURANCE AND AUTO LEASE EXPENSE. X 10 125795 FMV X GIFTS-IN-KIND 1 2 FMV 0 1 0 FORM 990, PART VI, SECTION B, LINE 11B HEAD OF SCHOOL AND CFO REVIEW FORM 990 BEFORE IT IS FILED. FINANCIAL STATEMENTS WERE REVIEWED BY THE BOARD IN SEPTEMBER MEETING. FORM 990, PART VI, SECTION B, LINE 12C HEAD OF SCHOOL AND CFO PERIODICALLY REVIEW COMPLIANCE WITH CONFLICT OF INTEREST POLICY. FORM 990, PART VI, SECTION B, LINE 15 COMPENSATION LEVELS FOR HEAD OF SCHOOL AND DIRECTOR OF BUSINESS AND FINANCE ARE SET BY THE CHAIRMAN OF THE BOARD IN CONSULTATION WITH THE CHAIR OF THE FINANCE COMMITTEE AND OTHER EXECUTIVE COMMITTEE MEMBERS. BENCHMARKING WITH OTHER NEW JERSEY ASSOCIATION INDEPENDENT SCHOOLS AND NATIONAL ASSOCIATION OF INDEPENDENT SCHOOLS IS PERFORMED ANNUALLY FOR ALL EMPLOYEE CATEGORIES. FORM 990, PART VI, SECTION C, LINE 19 THE INSTITUTION'S FORM 990 IS AVAILABLE UPON REQUEST AND CAN BE FOUND ON VARIOUS WEBSITES SUCH AS CHARITY NAVIGATOR. THE INSTITUTION'S POLICIES, FINANCIAL STATEMENTS AND GOVERNING DOCUMENTS ARE AVAILABLE UPON REQUEST. FORM 990, PART IX, LINE 24E MAINTENANCE SUPPLIES: PROGRAM SERVICE EXPENSES 266,394. MANAGEMENT AND GENERAL EXPENSES 532,788. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 799,182. TRANSPORTATION: PROGRAM SERVICE EXPENSES 647,112. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 647,112. DEVELOPMENT: PROGRAM SERVICE EXPENSES 157,933. MANAGEMENT AND GENERAL EXPENSES 315,865. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 473,798. FUNDRAISING ANNUAL GIVING: PROGRAM SERVICE EXPENSES 0. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 385,532. TOTAL EXPENSES 385,532. ATHLETICS: PROGRAM SERVICE EXPENSES 361,363. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 361,363. MISCELLANEOUS: PROGRAM SERVICE EXPENSES 102,807. MANAGEMENT AND GENERAL EXPENSES 241,769. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 344,576. DESIGNATED SCHOLARSHIP: PROGRAM SERVICE EXPENSES 315,379. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 315,379. OTHER SCHOOL RELATED: PROGRAM SERVICE EXPENSES 256,582. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 256,582. FIELD TRIPS: PROGRAM SERVICE EXPENSES 247,912. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 247,912. DEPARTMENT EXPENSES: PROGRAM SERVICE EXPENSES 242,351. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 242,351. SPECIAL FUNCTIONS: PROGRAM SERVICE EXPENSES 196,496. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 196,496. HEAD OF SCHOOL EXPENSES: PROGRAM SERVICE EXPENSES 187,860. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 187,860. PLANT REPAIR AND MAINTENANCE: PROGRAM SERVICE EXPENSES 56,417. MANAGEMENT AND GENERAL EXPENSES 112,833. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 169,250. OTHER STUDENT ACTIVITIES: PROGRAM SERVICE EXPENSES 147,868. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 147,868. FACULTY CONFERENCE: PROGRAM SERVICE EXPENSES 141,345. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 141,345. IMMERSION/STRATEGIC: PROGRAM SERVICE EXPENSES 34,278. MANAGEMENT AND GENERAL EXPENSES 68,556. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 102,834. ADMISSIONS: PROGRAM SERVICE EXPENSES 92,933. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 92,933. ALUMNI PROGRAM: PROGRAM SERVICE EXPENSES 0. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 87,485. TOTAL EXPENSES 87,485. REAL ESTATE TAXES: PROGRAM SERVICE EXPENSES 82,454. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 343. TOTAL EXPENSES 82,797. COMMENCEMENT: PROGRAM SERVICE EXPENSES 74,438. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 74,438. RECRUITING: PROGRAM SERVICE EXPENSES 58,503. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 58,503. YEARBOOK: PROGRAM SERVICE EXPENSES 57,430. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 57,430. CURRICULUM DEVELOPMENT: PROGRAM SERVICE EXPENSES 51,043. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 51,043. CAPITAL EXPENSE: PROGRAM SERVICE EXPENSES 16,384. MANAGEMENT AND GENERAL EXPENSES 32,768. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 49,152. COLLEGE COUNSELING: PROGRAM SERVICE EXPENSES 37,075. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 37,075. GLOBAL SPEAKER SERIES: PROGRAM SERVICE EXPENSES 27,959. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 27,959. DISCRETIONARY SCHOLAR NEEDS: PROGRAM SERVICE EXPENSES 10,863. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 10,863. REGISTRAR: PROGRAM SERVICE EXPENSES 5,234. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 5,234. UPPER SCHOOL: PROGRAM SERVICE EXPENSES 5,153. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 5,153. OUTREACH PROGRAM: PROGRAM SERVICE EXPENSES 5,000. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 5,000. FORM 990, PART XI, LINE 9: CHANGE IN VALUE OF POSTRETIREMENT LIABILITY -300,081. FORM 990, PART XII, LINE 2C: THE PROCESS HAS NOT CHANGED FROM THE PRIOR TAX YEAR.