Newstory Center Inc

Analysis

Newstory Center Inc is a registered charity in United States, based in Rutland, VT. It received its IRS tax-exemption ruling in September 1981, 45 years ago. Its declared purposes cover human services, which this site groups under poverty relief. 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 2024, Newstory Center Inc reported income of $2.4m and spending of $2.5m, spending 100% of its income. Across the 5 years on record, from June 2020 to June 2024, income grew from $819k to $2.4m (+199%), an average of +32% a year. The sharpest change came in the year to June 2024, when income rose by 125%. Over the whole period it spent 100% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Newstory Center Inc sits at the 85th percentile: it is larger than about 85% of them. Against every charity in United States with reported income it ranks in the 88th percentile, and in the 86th percentile within VT. Charities of a similar size with the same main cause include Elko F I S H ($2.4m), The Center for Children and Young Adults Inc ($2.4m) and Legacy Behavioral Services Inc ($2.4m).

On its Form 990 for the period ending June 2024, revenue came from contributions and grants 100% of the total. Compensation of current officers, directors and key employees was $83k (3.4% of expenses). Other salaries and wages came to $390k. At year end it held assets of $812k against liabilities of $385k, net assets of $427k. It reported 10 employees.

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.