Learners are more than just a number!
NewGrade currently runs on a lean expense model, primarily funding salaries for its five part-time employees and operating expenses for business development. Current 2021 operating expenses revolve around startup costs of NewGrade app development, Wix website development, Google cloud storage, ADP payroll, HR, and tax services, and federal and state taxes. Hardware expenses are minimal and only what is necessarily for app development. Income has been entirely privately funded by the founder with interest shown by other private investors.
In 2022, projected expenses would include increased salary rate and hours with projected use and success of the app. 2022 would also see increased marketing expenses and an increase in employees to build NewGrade Medical, which would add our primary driver of revenue. 2022 would also potentially see revenue from Venture Capital funding and private funding, which would also drive greater development of NewGrade Medical and, therefore, NewGrade Education.
In years 2023-2025, based on both trends in educational technology venture capital funding and the success of other mixed philanthropic- and profit-driven edtech business models like ClassDojo, NewGrade LLC would expect increased revenue and profits from NewGrade Medical and NewGrade Business, which would help to fund the “forever-free” aspect of NewGrade Education.