Newbridge Housing I Inc

Analysis

Newbridge Housing I Inc is a registered charity in United States, based in Pompton Plains, NJ. It received its IRS tax-exemption ruling in September 2002, 24 years ago. Its declared purposes cover housing and shelter, which this site groups under housing and shelter. The IRS classifies it as a publicly supported organisation (donations from the general public) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending June 2023, Newbridge Housing I Inc reported income of $55k and spending of $97k, spending 177% of what it took in. Across the 4 years on record, from June 2020 to June 2023, income fell from $59k to $55k (-6.6%), an average of -2.2% a year. The sharpest change came in the year to June 2022, when income rose by 155%. Over the whole period it spent 135% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Newbridge Housing I Inc sits at the 12th percentile: it is larger than about 12% of them. Against every charity in United States with reported income it ranks in the 21st percentile, and in the 28th percentile within NJ. Charities of a similar size with the same main cause include MV Central Park Apartments Inc ($55k), Allies Homes 2009 Inc ($55k) and Community Apartments Corporation of of Metrolina 8 ($55k).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 72% and program service revenue 28% of the total. At year end it held assets of $644k against liabilities of $681k, net assets of -$38k.

Data notes from the register: Spending has exceeded income in each of the last three reported years, so the charity has been drawing on reserves or other funds.