New Beginnings Inc

Analysis

New Beginnings Inc is a registered charity in United States, based in Windsor Mill, MD. It received its IRS tax-exemption ruling in April 2014, 12 years ago. Its declared purposes cover human services, which this site groups under poverty relief. 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 2024, New Beginnings Inc reported income of $10.3m and spending of $8.4m, spending 81% of its income. Across the 6 years on record, from June 2019 to June 2024, income grew from $2.6m to $10.3m (+301%), an average of +32% a year. The sharpest change came in the year to June 2023, when income rose by 66%. Over the whole period it spent 76% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, New Beginnings 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 95th percentile, and in the 94th percentile within MD. Charities of a similar size with the same main cause include Freshfarm Markets Inc ($10.3m), Hospice Care Team Inc ($10.4m) and Boca Helping Hands Inc ($10.3m).

On its Form 990 for the period ending June 2024, revenue came from program service revenue 96% of the total. Compensation of current officers, directors and key employees was $1.3m (15% of expenses). Other salaries and wages came to $2.8m. At year end it held assets of $7.9m against liabilities of $161k, net assets of $7.7m.