New Samaritan Corporation Inc

Analysis

New Samaritan Corporation Inc is a registered charity in United States, based in Storrs, CT. It received its IRS tax-exemption ruling in March 1971, 55 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 September 2023, New Samaritan Corporation Inc reported income of $8.2m and spending of $10.2m, spending 124% of what it took in. Across the 5 years on record, from September 2019 to September 2023, income fell from $11.0m to $8.2m (-26%), an average of -7.2% a year. The sharpest change came in the year to September 2021, when income dropped by 35%. Over the whole period it spent 109% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, New Samaritan Corporation Inc sits at the 94th percentile: it is larger than about 94% of them. Against every charity in United States with reported income it ranks in the 94th percentile, and in the 93rd percentile within CT. Charities of a similar size with the same main cause include Helping Hands Housing Services ($8.2m), Preservation Housing Inc ($8.2m) and Academic Properties Inc ($8.2m).

On its Form 990 for the period ending September 2023, revenue came from contributions and grants 0.2% and program service revenue 93% of the total. Other salaries and wages came to $6.1m. At year end it held assets of $7.0m against liabilities of $1.6m, net assets of $5.5m. It reported 206 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.