New Life Estates Inc

Analysis

New Life Estates Inc is a registered charity in United States, based in Pawtucket, RI. It received its IRS tax-exemption ruling in December 2004, 22 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 (gross receipts test) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending June 2024, New Life Estates Inc reported income of $109k and spending of $165k, spending 151% of what it took in. Across the 5 years on record, from June 2020 to June 2024, income grew from $104k to $109k (+4.2%), an average of +1.0% a year. Over the whole period it spent 140% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, New Life Estates Inc sits at the 24th percentile: it is larger than about 24% of them. Against every charity in United States with reported income it ranks in the 39th percentile, and in the 34th percentile within RI. Charities of a similar size with the same main cause include Joseph Michalowski Housing Corporation ($109k), Abilities at Cumberland Towers Inc ($109k) and Ocl Properties XI Inc ($109k).

On its Form 990 for the period ending June 2024, revenue came from program service revenue 100% of the total. At year end it held assets of $1.2m against liabilities of $27k, net assets of $1.2m.

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.