New Neighborhoods Inc

Analysis

New Neighborhoods Inc is a registered charity in United States, based in Stamford, CT. It received its IRS tax-exemption ruling in March 1970, 56 years ago. 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 December 2023, New Neighborhoods Inc reported income of $9.2m and spending of $8.7m, spending 95% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $4.7m to $9.2m (+95%), an average of +18% a year. The sharpest change came in the year to December 2023, when income rose by 69%. Over the whole period it spent 103% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, New Neighborhoods Inc sits at the 95th percentile: it is larger than about 95% of them. Against every charity in United States with reported income it ranks in the 95th percentile, and in the 94th percentile within CT. Charities of a similar size with the same main cause include Chambliss Center for Children ($9.2m), BHHS Legacy Foundation ($9.2m) and Lake Region Corporation ($9.2m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 31% and program service revenue 68% of the total. Compensation of current officers, directors and key employees was $274k (3.1% of expenses). Other salaries and wages came to $2.9m. At year end it held assets of $34.4m against liabilities of $31.9m, net assets of $2.4m. It reported 82 employees.