Share of New Square Inc

Analysis

Share of New Square Inc is a registered charity in United States, based in Spring Valley, NY. It received its IRS tax-exemption ruling in November 1992, 34 years ago. Its declared purposes cover food, agriculture and nutrition, 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 December 2023, Share of New Square Inc reported income of $24.2m and spending of $23.6m, spending 98% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $10.6m to $24.2m (+128%), an average of +23% a year. The sharpest change came in the year to December 2021, when income rose by 46%. Over the whole period it spent 99% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Share of New Square Inc sits at the 97th percentile: it is larger than about 97% of them. Against every charity in United States with reported income it ranks in the 97th percentile, and in the 96th percentile within NY. Charities of a similar size with the same main cause include Medsource Community Services Inc ($24.2m), Living Water International ($24.2m) and Latino Community Foundation ($24.2m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 23% and program service revenue 76% of the total. Compensation of current officers, directors and key employees was $187k (0.8% of expenses). Other salaries and wages came to $10.8m. At year end it held assets of $13.8m against liabilities of $10.4m, net assets of $3.3m. It reported 559 employees.