Worcester New Horizons Inc

Analysis

Worcester New Horizons Inc is a registered charity in United States, based in Worcester, MA. It received its IRS tax-exemption ruling in May 2001, 25 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, Worcester New Horizons Inc reported income of $779k and spending of $749k, spending 96% of its income. Across the 5 years on record, from June 2019 to June 2023, income grew from $719k to $779k (+8.3%), an average of +2.0% a year. Over the whole period it spent 95% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Worcester New Horizons Inc sits at the 67th percentile: it is larger than about 67% of them. Against every charity in United States with reported income it ranks in the 76th percentile, and in the 76th percentile within MA. Charities of a similar size with the same main cause include Peninsula Housing Development Inc Xiii ($778k), Ridgefield Park Senior Citizen Housing Assoc ($779k) and Shively Area Ministries Inc ($778k).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 84% and program service revenue 16% of the total. At year end it held assets of $1.2m against liabilities of $1.8m, net assets of -$597k.