Nueva Esperanza Inc

Analysis

Nueva Esperanza Inc is a registered charity in United States, based in Holyoke, MA. It received its IRS tax-exemption ruling in February 2019, 7 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 (gross receipts test) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending June 2024, Nueva Esperanza Inc reported income of $367k and spending of $385k, spending 105% of its income. Across the 6 years on record, from June 2019 to June 2024, income grew from $17k to $367k (+2079%), an average of +85% a year. The sharpest change came in the year to June 2020, when income rose by 516%. Over the whole period it spent 93% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Nueva Esperanza Inc sits at the 50th percentile: it is larger than about 50% of them. Against every charity in United States with reported income it ranks in the 65th percentile, and in the 66th percentile within MA. Charities of a similar size with the same main cause include Delatour Housing Development Fund Company Inc ($367k), Illinois Community Action CDC ($367k) and Samaritan House Inc ($367k).

On its Form 990 for the period ending June 2024, revenue came from contributions and grants 68% and program service revenue 3.9% of the total. Compensation of current officers, directors and key employees was $60k (16% of expenses). Other salaries and wages came to $36k. At year end it held assets of $881k against liabilities of $898, net assets of $880k. It reported 3 employees.