The New Press Inc

Analysis

The New Press Inc is a registered charity in United States, based in New York, NY. It received its IRS tax-exemption ruling in January 1992, 34 years ago. Its declared purposes cover arts, culture and humanities, which this site groups under arts, culture, heritage and science. 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, The New Press Inc reported income of $3.2m and spending of $5.6m, spending 178% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income fell from $4.3m to $3.2m (-27%), an average of -7.6% a year. The sharpest change came in the year to December 2020, when income rose by 71%. Over the whole period it spent 93% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, The New Press 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 89th percentile, and in the 86th percentile within NY. Charities of a similar size with the same main cause include Duluth & North Shore Railway Inc ($3.2m), Conservation Center for Art and Historic Artifacts ($3.2m) and United States Institute for Theatre Technology Inc ($3.2m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 62% and program service revenue 10% of the total. Compensation of current officers, directors and key employees was $705k (12% of expenses). Other salaries and wages came to $1.9m. At year end it held assets of $8.1m against liabilities of $2.8m, net assets of $5.3m. It reported 44 employees.