New Garden Park Inc

Analysis

New Garden Park Inc is a registered charity in United States, based in Worcester, MA. It received its IRS tax-exemption ruling in September 2007, 19 years ago. Its declared purposes cover community improvement and capacity building, which this site groups under community and economic development. 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 December 2023, New Garden Park Inc reported income of $1.7m and spending of $1.2m, leaving 28% of income unspent that year. Across the 5 years on record, from December 2019 to December 2023, income fell from $15.6m to $1.7m (-89%), an average of -43% a year. The sharpest change came in the year to December 2021, when income rose by 155%. Over the whole period it spent 47% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, New Garden Park Inc sits at the 83rd percentile: it is larger than about 83% of them. Against every charity in United States with reported income it ranks in the 84th percentile, and in the 83rd percentile within MA. Charities of a similar size with the same main cause include Henderson Settlement Inc ($1.6m), NYC Neighborhood Capital Corporation ($1.7m) and Kings Care Foundation ($1.6m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 1.1% and program service revenue 39% of the total. At year end it held assets of $42.2m against liabilities of $16.1m, net assets of $26.2m.