Education (B190) IRS Verified DX Registered 990 on File

NAF

EIN: 13-3480246 · NEW YORK, NY 10016-5101 · United States · FY 2024 Data
3 out of 5 58 / 100 Based on 2+ years of filings
Financial strength (30%) 76/100
Reliability (20%) 70/100
Effectiveness (25%) 83/100
Impact (25%) No data yet
Financial data: FY 2024 · Scored 9/13/2026
CharityAI™ Score
Not yet evaluated
Mission Statement

NAF is a national network of education, business, and community leaders who work together to ensure high school students are college, career, and future ready. NAF’s educational design ignites students’ passion for learning and gives businesses the opportunity to shape America’s future workforce by transforming the learning environment to include STEM infused industry-specific curricula and work-based learning experiences, including internships. Since 1982, NAF has been partnering with existing high schools in high-need communities to enhance school systems at a low cost by implementing NAF academies – small learning communities within traditional high schools. NAF has grown from one NAF Academy of Finance in New York City to hundreds of academies across the country focusing on growing industries including: finance, hospitality & tourism, information technology, engineering, and health sciences. During the 2015-16 school year nearly 89,000 students attended 716 NAF academies across 36 states, including DC and the US Virgin Islands. In 2015, NAF academies reported 98% of seniors graduated with 92% of graduates planning to go to college. Founded in 1982 by Sanford I. Weill, Chairman Emeritus of Citigroup Inc., NAF fosters partnerships between the business and education communities to provide opportunities to underserved students. Weill’s original intent was to connect young people to entry-level jobs in New York City's growing financial sector. His program did much more than that. His vision led to a national movement of preparing students for successful careers. After Weill received approval for his new academy plan from the New York City Board of Education, the first academy, an Academy of Finance opened at John Dewey High School in Brooklyn, NY in 1982. Since then, the NAF network has grown to 565 academies and serves more than 70,000 students across 38 states, D.C, and the U.S. Virgin Islands each year. NAF's 96% graduation rate and network of dedicated educators, business partners, and students are testament to the effectiveness of this model.

Financial Overview — FY 2024
$20.6M
Total Revenue
$20.5M
Total Expenses
$7.1M
Net Assets
85
Employees
Revenue Sources
Expense Breakdown
Program Expense Ratio 74.6%
Fundraising Efficiency 3045.3%
Operating Reserve 4.19x
Liability-to-Asset 11.1%
Revenue Diversification 88.4%
Executive Compensation $4.4M
Compared with Peers
FY 2024
Compared with 1,945 similar organizations (United States, Education, $10M–$100M in expenses), FY 2024.
This organization Middle half of peers (P25–P75) Peer median
Ratio This org Peer median Position (P10 → P90)
Program expense ratio
Program expenses / total expenses · higher is better
74.6% 84.6%
P10P90
Bottom quarter
Admin expense ratio
Management and general / total expenses · lower is better
16.2% 13.3%
P10P90
Below median
Fundraising expense ratio
Fundraising expenses / total expenses · lower is better
9.2% 0.7%
P10P90
Bottom quarter
Fundraising efficiency
Fundraising expenses / gross fundraising income · lower is better
3045.3% 550.2%
P10P90
Bottom quarter
Operating reserve
Months of expenses covered by net assets · higher is better
4.2 mo 10.7 mo
P10P90
Below median
Liabilities to assets
Total liabilities / total assets · lower is better
11.1% 31.2%
P10P90
Top quarter
Revenue concentration
Share of revenue from the largest source · lower is better
88.4% 88.3%
P10P90
Below median
Revenue growth
Year over year revenue growth
1.2% 7.9%
P10P90
Expense growth
Year over year expense growth
-18.6% 7.4%
P10P90
Surplus margin
Surplus as a share of revenue
0.5% 3.0%
P10P90
Financial History
Year Revenue Expenses Net Assets Program % Staff
2024 $20.6M $20.5M $7.1M 74.6% 85
2023 $20.3M $25.2M $7.0M 71.5% 90
2022 $13.6M $24.6M $12.8M 67.0% 111
2021 $18.8M $23.1M $24.4M 65.1% 84
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Organization Details
EIN
13-3480246
State
NY
City
NEW YORK
ZIP
10016-5101
Classification
B190
Category
Education
Rating
3★
Coverage
A
Last Updated
Aug 2026
IRS Ruling Year
1982
Foundation Code
15
Form 990
On File
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