Newvue Communities Inc

Analysis

Newvue Communities Inc is a registered charity in United States, based in Fitchburg, MA. It received its IRS tax-exemption ruling in January 1982, 44 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 December 2023, Newvue Communities Inc reported income of $4.1m and spending of $3.9m, spending 94% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $1.9m to $4.1m (+120%), an average of +22% a year. The sharpest change came in the year to December 2021, when income rose by 42%. Over the whole period it spent 86% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Newvue Communities Inc sits at the 89th percentile: it is larger than about 89% of them. Against every charity in United States with reported income it ranks in the 91st percentile, and in the 90th percentile within MA. Charities of a similar size with the same main cause include Housing Trust Fund Ventura County ($4.1m), JL Young Apartments ($4.1m) and Habitat for Humanity International Inc ($4.1m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 62% and program service revenue 37% of the total. Compensation of current officers, directors and key employees was $153k (3.9% of expenses). Other salaries and wages came to $1.1m. At year end it held assets of $4.3m against liabilities of $564k, net assets of $3.7m. It reported 24 employees.